The only method of payment for these illegal purchases is an untraceable peer-to-peer currency known as Bitcoins. After purchasing Bitcoins through an exchange, a user can create an account on Silk Road and start purchasing illegal drugs from individuals around the world and have them delivered to their homes within days.
quote: In trading late Friday, Bitcoins recouped nearly half their losses, bouncing back to 24.34. That's still a massive crash -- around 15 percent in one day. But it shows that the market isn't dead. The U.S. economy survived Black Friday and today sustains a massive amount of wealth. Likewise, perhaps the Bitcoin movement can survive this tough time and find its way. After all -- people are still buying Bitcoins.
quote: 15% decline following a 70% rise, yeah major depression.
quote: Not sure why you're being downrated for this. In the windup to the Great Depression, the DJIA dropped 12.8% on October 28, 1929, followed by another 11.7% on October 29. These things do not happen quickly. It took nearly 3 years (til July 1932) for the DJIA to lose 89%. So comparatively, a 30% drop in a day is a massive, massive drop for what's supposed to be a general index/currency.OTOH, Black Monday, Oct 19, 1987, the DJIA lost 22% in one day. But it bounced right back. So you never know.