London gets a Bitcoin exchange and the post-Silk Road black market wobbles on

One of the drug marketplaces set up to replace Silk Road closed, with its owner stealing users' money.

Two contrasting stories about the state of Bitcoin today. The first concerns the ongoing black market for drugs, which is undergoing a lot of churn post-Silk Road. New exchanges are popping up, vendors are dispersing onto them, and customers - or, at least, those brave enough to think that law enforcement agencies aren’t also on top of all this - are trying to figure out who to trust.

It’s all about trust on these sites. I’ve written before about how Silk Road’s success was in part down to its active culture of customer reviews, alerting people to bad quality merchandise and pointing people towards trustworthy vendors. That kind of culture takes a long time to build up, as those searching for a Silk Road replacement are discovering.

This morning, one of those sites - Black Flag - went down, with its owner apparently absconding with its users’ money. Calling themselves “Metta Dread Pirate Roberts” (Dread Pirate Roberts was the name Silk Road’s owner used, allegedly the now-in-custody Ross Ullbricht), they posted the following message on the site’s forum:

Well mates, I am saddened to say goodbye. When I created P: BF [Project: Black Flag], my intent was pure and I wanted to help the community. Several days ago I begin implementing code changes to freeze funds and dump them to myself. I was unable to cope with the stress and constant demand, so I panicked. I am sorry for my actions, but with the funds I gathered from the site, I will be able to keep myself from being homeless for the next several months. I will always remember those that made this possible.

The servers will shortly be turned off. Please make migrate to the new Silk Road forums.

Keyboard DPK and Ganja are not me. They did not know this happened, and were kept in the dark just like everyone else. Please do not hold my actions against them.

I have let a lot of people down, including myself. I put hundreds of hours into this site and forum, and never wanted to see it end up this way.
As of now, I will no longer be using the name MettaDPR, nor will I be signing into the forums or site. The forum servers will be going down in week or so; the market will be going down within the next few days.

Abandon ship.

-MettaDPR

We have no idea how many bitcoins MettaDPR has taken with them - the site wasn’t up for long, and is nowhere near one of the bigger Silk Road alternatives - but it shows the difficulties facing the drug black market community. Someone could set up a site for a while, wait for people to trust their money to it, and then skip town.

You can’t regulate against that because, y’know, the drugs thing. The impossibility of retreiving stolen bitcoins is built into the system, so the only thing you can do is try and stop thefts in the first place. And that leads us to the second bit of interesting Bitcoin news today, which is that London is (finally) getting what looks to be a serious, well-backed exchange - Coinfloor.

Considering its position as a world financial centre it is surprising that it took so long for something like Coinfloor to emerge, but then UK government’s lack of urgency in working out if it wants to regulate Bitcoin trading has kind of forced its hand. As Coindesk reports:

Coinfloor, which is backed for an undisclosed sum by VC firm Passion Capital, is the first firm to trade bitcoins for GBP on an order book for at least a year. There are scant other exchanges in the UK trading bitcoins for GBP. Bittylicious offers the chance to buy bitcoins for sterling, for example, although this appears to be a more rudimentary site, and doesn’t have the charting facilities offered by Coinfloor. London-based Intersango ran an order book and allowed GBP trades, although that site inherited hacked and now-defunct virtual currency exchange Bitcoinica. It was sued by customers, and is no longer taking registrations.

Getting backing like that means it feels it doesn’t have to wait for the Financial Services Authority to sort out what its policy towards Bitcoin will be. Talks have happened, but nothing concrete has emerged.

However, Coinfloor represents the other side of the Bitcoin world to the Black Flag closure - its increasing legitimacy, both as a payment method and as a commodity. Despite a still-volatile price - over the last couple of weeks there was an unexpected surge and ebb that is believed to have been caused by a Chinese exchange - the wobbles in the underground Bitcoin market are increasingly separated from the above-ground one, lending it legitimacy it needs to survive.

The post by Black Flag's owner announcing the closure. (Screenshot: @josephfcox)

Ian Steadman is a staff science and technology writer at the New Statesman. He is on Twitter as @iansteadman.

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The mother lode: how mums became the ultimate viral fodder

The internet’s favourite joke used to be "your mum". Now it's "my mum".

“I was like: oh my.”

Terri Squires is describing her reaction to the news that she had gone viral. Last month, more than 213,000 people shared a tweet about Terri – but it wasn’t sent from her account. The 50-year-old Ohioan was propelled to internet stardom by her son, Jeff, who had tweeted about his mother.

“I didn’t really realise what it meant at first until he was like: ‘Mum, you do realise that millions of people have looked at this?’ … When I started seeing those numbers I was like: ‘Oh boy’.”

It’s a funny story – and Terri laughs heartily all she tells it. After coming out of a meeting, she checked her phone and noticed a picture of a missing – white – dog on Facebook. She quickly texted 17-year-old Jeff to check that the family dog, Duey, was safe. “That’s not Duey… Duey’s face is brown,” replied her son. “OK – just checking,” replied Terri.

More than 600,000 people “liked” Terri’s mistake after Jeff shared screenshots of the text message exchange on Twitter. But Terri is just one of hundreds of mums who have gone viral via their sons and daughters. Texts mums send, mistakes they make, things they fail to notice – these have all become the ultimate viral fodder.

In the last three months alone, Gerald’s mum went viral for a microphone mishap, Adam’s mum shot to Twitter fame for failing to understand WhatsApp, Lois’ mum got tricked by her daughter, Harry’s mum was hit in the head with a football, Hanna’s mum misunderstood a hairstyle, and Jake’s mum failed to notice her son had swapped a photo in her home for a portrait of Kim Jong-un.

But how do the mothers behind these viral tweets feel?

“I'm pretty much a mum that everybody wants to talk to these days,” says Terri, with another warm laugh. The mum of three says going viral “is not that big of a deal” to her, but she is happy that her son can enjoy being a “local superstar”. But is she embarrassed at being the punchline of Jeff’s joke?

“Believe me, I have thick skin,” she says. “I kinda look at what it is, and it’s actually him and his fame. I’m just the mum behind it, the butt of the joke, but I don't mind.”

Not all mums feel the same. A handful of similar viral tweets have since been deleted, indicating the mothers featured in them weren’t best pleased. A few people I reach out to haven’t actually told their mums that they’re the subject of viral tweets, and other mums simply don’t want any more attention.

“I think I’ve put my mum through enough with that tweet already,” says Jacko, when I ask if his mum would be willing to be interviewed. In 2014, Jacko tweeted out a picture of his family writing the word “cock” in the air with sparklers. “This is still my favourite ever family photo,” he captioned the tweet, “My mum did the ‘O’. We told her we were going to write ‘Love’.”

“No one ever expects to call home and say ‘Mum, have you heard of something called LADbible? No, you shouldn’t have, it’s just that a quarter of a million of its fans have just liked a photo of you writing the word ‘cock’ with a sparkler’,” Jacko explains.

Although Jacko feels his mum’s been through enough with the tweet, he does say she was “ace” about her new found fame. “She’s probably cooler about it all than I am”. Apart from the odd deletion, then, it seems most mums are happy to become viral Twitter stars.

Yet why are mums so mocked and maligned in this way? Although dads are often the subject of viral tweets, this is usually because of jokes the dads themselves make (here’s the most notable example from this week). Mums, on the other hand, tend to be mocked for doing something “wrong” (though there are obviously a few examples of them going viral for their clever and cunning). On the whole: dads make jokes, mums are the butt of them.

“We all think our mums are so clueless, you know. They don’t know what’s going on. And the fun thing is, one day we come to realise that they knew way more of what was going on than we thought,” says Patricia Wood, a 56-year-old mum from Texas. “People always kind of make fun of their mums, but love them.”

Last year, Patricia went viral when her daughter Christina tweeted out screenshots of her mum’s Facebook posts. In them, Patricia had forgotten the names of Christina’s friends and had candidly written Facebook captions like: “My gorgeous daughter and her date for formal, sorry I forgot his name”. Christina captioned her tweet “I really can't with my mom” and went on to get more than 1,000 likes.

“I felt, like, wow, it was like we’re famous, you know. I thought it was really cool,” says Patricia, of going viral. Her experiences have been largely positive, and as a part-time Uber driver she enjoys telling her customers about the tweet. “But I did have one bad experience,” she explains. A drunken passenger in her car saw the tweet and called Patricia an “asshole”.

Another aspect of viral fame also worried Patricia. She and her daughter were invited on a reality show, TD Jakes, with the production company offering to pay for flights and hotels for the pair. “I have too many skeletons in my closet and I didn't want them to come dancing out,” says Patricia, of her decision not to go. “By the time I got off it, it would be the Jerry Springer show, you know. I’m kind of a strange bird.”

On the whole, then, mothers are often amused by going viral via their offspring – and perhaps this is the real beauty of tweeting about our mums. Since the moment they earn the title, mums can’t afford to be fragile. There is a joy and relatability in “my mum” tweets – because really, the mum in question could be anyone’s. Still, from now on, mums might be more careful about what they tell their sons and daughters.

“When I send Jeff a text now I make sure I’m like: ‘Is my spelling correct? Is what I’m saying grammatically correct?’,” says Terri, “Because who knows where the words are gonna end up?”

Amelia Tait is a technology and digital culture writer at the New Statesman.