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The 2010s In Bitcoin: The Year 2011

26 Dec The 2010s In Bitcoin: The Year 2011

Posted at 08:47h in Bitcoin News by

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I’m counting down the 2010s in Bitcoin. This is the story about 2011 in Bitcoin. Read about 2010 here.

In 2011, Bitcoin reached parity with the US Dollar on February 9 — the same month Silk Road, the online dark-net marketplace, went online.

Founded in 2011 by Ross Ulbricht, the Silk Road quickly made headlines and caught the attention of the U.S. government. Adrien Chen, the editor of gawker.com, scoured the marketplace to see what was there. She reportedly found 340 varieties of drugs, such as Afghani hash, sour 13 weed, ecstasy, tar heroin, LSD etcetera. 

Silk Road’s terms of service forbade anything with a purpose of harming or defraud, including stolen credit cards, assassinations, and weapons of mass destruction. 

Democratic Senators Charles Schumer of New York and Joe Manchin of West Virginia implored in June Attorney General Eric Holder and Drug Enforcement Administration head Michele Leonhart to…

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