How did SilkRoad actually work? | Bitcointalksearch.org

Zooey

sr. member

Activity: 241

Merit: 250

Time you enjoy wasting is not wasted time.

Quote from: bbit on October 07, 2013, 02:45:37 PM

I never used it.

Did you send BTC to your account and this is how the guy made a commission?

Nobody, has ever explained how it actually functions.

{yawn}

malevolent

legendary

Activity: 3472

Merit: 1724

Quote from: theonewhowaskazu on October 07, 2013, 03:04:42 PM

out of curiosity, how exactly did he come up with the number 6.23? Seems super random.

No idea. You may try sending him a letter once he's in prison. Tongue

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: malevolent on October 07, 2013, 03:02:39 PM

Sellers had to pay a 6.23% commission on every sale but this was later changed:
http://www.reddit.com/r/SilkRoad/comments/1i0r8l/dead_pirate_roberts_addresses_commission_increases/

out of curiosity, how exactly did he come up with the number 6.23? Seems super random.

malevolent

legendary

Activity: 3472

Merit: 1724

Sellers had to pay a 6.23% commission on every sale but this was later changed:
http://www.reddit.com/r/SilkRoad/comments/1i0r8l/dead_pirate_roberts_addresses_commission_increases/

Quote from: acoindr on October 07, 2013, 03:00:28 PM

I know they charged for Seller accounts, about $100 I think (may have varied), as a way to filter for serious sellers.

$500 at least IIRC

They used to be free before though.

acoindr

legendary

Activity: 1050

Merit: 1002

I know they charged for Seller accounts, about $100 I think (may have varied), as a way to filter for serious sellers. They probably also had some kind of Buyer/Seller payment escrow of which they could take a percentage. But they could also charge for other things, like featured placement/advertising etc. There was no shortage of ways to make money. That's capitalism at work. There was so much pent up demand for such a marketplace that it was easily a financial success. That's why there are already at least two more underground marketplaces I've seen already looking to fill the void, with more planned.

bbit

legendary

Activity: 1330

Merit: 1000

Bitcoin

Quote from: panda1 on October 07, 2013, 02:51:17 PM

I think the court documents explained it pretty well.

Court documents actually point out how it worked? so far from what I read its an overview.

panda1

full member

Activity: 187

Merit: 100

I think the court documents explained it pretty well.

bbit

legendary

Activity: 1330

Merit: 1000

Bitcoin

I never used it.

Did you send BTC to your account and this is how the guy made a commission?

Nobody, has ever explained how it actually functions.

Topic: How did SilkRoad actually work? (Read 1217 times)