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9 Years After Ross Ulbricht’s Arrest & Silk Road’s Closing, How’s Bitcoin Doing? | Bitcoinist.com

9 Years After Ross Ulbricht’s Arrest & Silk Road’s Closing, How’s Bitcoin Doing? | Bitcoinist.com thumbnail

The story of Silk Road and its creator Ross Ulbricht are inextricably linked to bitcoin’s history. In February 2011, the dark web black market was one of the first web stores to go bitcoin-only, providing an undeniable use case for the bitcoin network as a payment rail. On the other hand, the Silk Road stained bitcoin by linking it to drugs and other illicit products. A stench that the cryptocurrency is only beginning to shake. 

On the 1st of October 2013, Ross Ulbricht was arrested to much fanfare. A few days later, the original Silk Road closed. The bitcoin network didn’t even blink. Culturally, though, the arrest and Silk Road’s disappearance marked the end of an era. A few years later, Ross Ulbricht’s extremely hard sentence shook the bitcoin world to the core. And it’s still a hot topic wherever bitcoin is discussed.

Tomorrow I’ll begin my 10th year in prison.

I don’t know what to say. I screwed up. I ruined my life and caused a lot of pain. When I look back and see my many mistakes, I feel immense regret.

— Ross Ulbricht (@RealRossU) September 30, 2022

In a recent tweet from Ross Ulbricht’s official account, which is “run by a loved one in the free world,” he wrote: “Tomorrow I’ll begin my 10th year in priso

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