u.s. institute of peace

The pair of Bitcoin hearings held this week by Senate committees could have been a disaster for the Bitcoin community. After all, Bitcoin first came to mainstream attention in 2011 when Gawker reported on Silk Road, an anonymous online marketplace that allowed users to purchase a wide variety of illegal drugs with Bitcoin. Sen. Chuck Schumer (D-N.Y.) denounced the site and suggested that Bitcoin was "an online form of money laundering."