Dark Web Bitcoin transactions doubled in 2018
The total number of Bitcoin-based transactions on the Dark Web in 2018 were double that of 2017. Despite this increase, the total value of these transactions fell by over $100 million, most likely because of how Bitcoin’s value also dropped over the same time period. The figures compiled by blockchain analysis group, Chainalysis, show how Dark Web markets are price inelastic – this simply means that the price of Bitcoin doesn’t really impact Dark Web shopping activity. This also shows that shutting down Dark Web marketplaces is a pretty futile endeavor. As soon as one marketplace gets shutdown, another springs up in its place.