The Silk Road
Out of context: Reply #15
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- eoin0
@instrmntl Cyprus had a hidden banking system for some of Russia's less mainstream economic entities who funneled ludicrous amounts of money out of mother Russia to this untraceable Mediterranean Switzerland. There were hundreds of billions worth of dodgy money deposits, owned by the ex-KGB/Russian gangster elite. When it was mooted that the Cypriot government was going to dip into deposits over a certain amount and nominally steal 10% of their valuse because the country had gone bankrupt, there was a massive transfer of money from these untraceable accounts into bitcoin. That's what caused the recent, unprecedented surge in the value of bitcoins. Although initially a big player in the growth of bitcoin, the sale of Cheeba Chews has less significance today.