CoinDesk Podcast Network
BITCOIN SEASON 2: Inside Bitcoin’s Darknet Markets
Apr 5, 2025
Dive into the intriguing world of darknet markets, where Bitcoin reigns supreme despite a shift from Monero. Explore the history from the notorious Silk Road to modern platforms, revealing their surprising flat growth amid billions in annual transactions. Discover the tangled web of exit scams and the quirky aesthetics stuck in 2004. Learn about the evolving user strategies and trust dynamics in these illicit ecosystems, where even government agents might lurk. It’s a compelling look at the intersection of cryptocurrency and the shadowy underbelly of the web.
41:36
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Bitcoin's resurgence in darknet markets, following Monero's decline due to exchange restrictions, underscores its pivotal role in facilitating illicit transactions.
- The operational history of darknet markets, from early challenges to innovative escrow systems, illustrates evolving user dynamics and the constant threat of regulatory intervention.
Deep dives
The Rise of Bitcoin in Darknet Markets
Bitcoin has become the dominant currency on darknet markets, especially following Monero's decline in exchange listings, notably on Binance. Historically, Monero was favored for its privacy features, but restrictions on offboarding it from exchanges have shifted preference back to Bitcoin. This transition highlights Bitcoin's evolution within the seedy underbelly of the internet. Chainalysis reports indicate a significant trading volume associated with these markets, reflecting the persistent demand for such transactions despite regulatory scrutiny.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
