Silk Road owner claims the site is worth '10 figures, maybe 11'

 

Dread Pirate Roberts, the owner of notorious black market drug marketplace, the Silk Road, has said that he wouldn’t sell his website for “less than 10 figures, maybe 11.”

Launched in 2011, The Silk Road has been described as the ‘eBay of illegal drugs’ and sells a range of products from marijuana to heroin. It offers anonymity to its customers through its use of the encrypted Tor browser and the digital currency BitCoin.

The secretive and illegal nature of the site means assessing its finances is difficult, though recent estimates suggest annual revenue of between $30 and $45 million. Roberts receives a minimum commission of 10 per cent on all sales, scaling up for larger transactions.

“As far as my monetary net worth is concerned, the future value of Silk Road as an organization dwarfs its and my liquid assets,” said Roberts in an interview with Forbes.

The name ‘Dread Pirate Roberts’ refers to the hero The Princess Bride, a novel that was adapted into a cult 1987 film of the same name. In the story ‘Dread Pirate Roberts’ is an inherited title rather than the name of an individual; Roberts says he chose the title after buying the site from its founder. “Thus, no matter what happens to the individual the office continues to live on,” says Roberts.

The rare interview also highlighted Roberts’ political beliefs, with The Silk Road described as “vehicle” for a message of radical libertarianism. “What we’re doing isn’t about scoring drugs or ‘sticking it to the man,’” Roberts told Forbes. “It’s about standing up for our rights as human beings and refusing to submit when we’ve done no wrong.”

Although The Silk Road is certainly the most well-known example of its kind its continuing success has encouraged and emboldened competitors. A rival website named Atlantis that launched in June even had its own advertising campaign, including an animated video posted to YouTube and an online Q&A with the company ‘CEO’.

However, such websites are far from invulnerable: in 2012 eight individuals were arrested by US law agencies for operating a similar site known as The Farmer’s Market.

Voices
voices
News
general electionThis quiz matches undecided voters with the best party for them
Arts and Entertainment
Keira Knightley and Matthew Macfadyen starred in the big screen adaptation of Austen's novel in 2005
tvStar says studios are forcing actors to get buff for period roles
News
Prince William and his wife Catherine, Duchess of Cambridge show their newly-born daughter, their second child, to the media outside the Lindo Wing at St Mary's Hospital in central London, on 2 May 2015.
news
Life and Style
ebookNow available in paperback
ebooks
ebookPart of The Independent’s new eBook series The Great Composers
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Gadgets & Tech

    Ashdown Group: Trainee Consultant - Surrey/ South West London

    £22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...

    Ashdown Group: Trainee Consultant - Surrey / South West London

    £22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...

    Ashdown Group: Recruitment Consultant / Account Manager - Surrey / SW London

    £40000 per annum + realistic targets: Ashdown Group: A thriving recruitment co...

    Ashdown Group: Helpdesk Analyst / Trainee Application Support Analyst - Essex

    £25000 per annum: Ashdown Group: A highly reputable business is looking to rec...

    Day In a Page

    Fishing for votes with Nigel Farage: The Ukip leader shows how he can work an audience as he casts his line to the disaffected of Grimsby

    Fishing is on Nigel Farage's mind

    Ukip leader casts a line to the disaffected
    Who is bombing whom in the Middle East? It's amazing they don't all hit each other

    Who is bombing whom in the Middle East?

    Robert Fisk untangles the countries and factions
    China's influence on fashion: At the top of the game both creatively and commercially

    China's influence on fashion

    At the top of the game both creatively and commercially
    Lord O’Donnell: Former cabinet secretary on the election and life away from the levers of power

    The man known as GOD has a reputation for getting the job done

    Lord O'Donnell's three principles of rule
    Rainbow shades: It's all bright on the night

    Rainbow shades

    It's all bright on the night
    'It was first time I had ever tasted chocolate. I kept a piece, and when Amsterdam was liberated, I gave it to the first Allied soldier I saw'

    Bread from heaven

    Dutch survivors thank RAF for World War II drop that saved millions
    Britain will be 'run for the wealthy and powerful' if Tories retain power - Labour

    How 'the Axe' helped Labour

    UK will be 'run for the wealthy and powerful' if Tories retain power
    Rare and exclusive video shows the horrific price paid by activists for challenging the rule of jihadist extremists in Syria

    The price to be paid for challenging the rule of extremists

    A revolution now 'consuming its own children'
    Welcome to the world of Megagames

    Welcome to the world of Megagames

    300 players take part in Watch the Skies! board game in London
    'Nymphomaniac' actress reveals what it was really like to star in one of the most explicit films ever

    Charlotte Gainsbourg on 'Nymphomaniac'

    Starring in one of the most explicit films ever
    Robert Fisk in Abu Dhabi: The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers

    Robert Fisk in Abu Dhabi

    The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers
    Vince Cable interview: Charging fees for employment tribunals was 'a very bad move'

    Vince Cable exclusive interview

    Charging fees for employment tribunals was 'a very bad move'
    Iwan Rheon interview: Game of Thrones star returns to his Welsh roots to record debut album

    Iwan Rheon is returning to his Welsh roots

    Rheon is best known for his role as the Bastard of Bolton. It's gruelling playing a sadistic torturer, he tells Craig McLean, but it hasn't stopped him recording an album of Welsh psychedelia
    Morne Hardenberg interview: Cameraman for BBC's upcoming show Shark on filming the ocean's most dangerous predator

    It's time for my close-up

    Meet the man who films great whites for a living
    Increasing numbers of homeless people in America keep their mobile phones on the streets

    Homeless people keep mobile phones

    A homeless person with a smartphone is a common sight in the US. And that's creating a network where the 'hobo' community can share information - and fight stigma - like never before