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Abstract

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Cryptomarkets: A Research Companion
Type: Book
ISBN: 978-1-83867-030-6

Abstract

Details

Cryptomarkets: A Research Companion
Type: Book
ISBN: 978-1-83867-030-6

Abstract

Details

Cryptomarkets: A Research Companion
Type: Book
ISBN: 978-1-83867-030-6

Book part
Publication date: 15 April 2019

Christian Linder

This chapter investigates how new technologies of encryption and cryptocurrencies enable entrepreneurial opportunities outside legality in the dark net. Since ventures on…

Abstract

This chapter investigates how new technologies of encryption and cryptocurrencies enable entrepreneurial opportunities outside legality in the dark net. Since ventures on illicit dark net markets lack access to the legal system and to law enforcement agencies, they must rely on mechanisms for settling disputes with business partners without the involvement of mediating agencies. To this end, the presence of trust is decisive in coordinating cryptomarket activities. Hence, entrepreneurs on dark net markets utilize technology to gain trust, establishing new ways of drug dealing, with disruptive potential for classic illicit drug markets. Against this background, this chapter shows how technological change affects the identity of entrepreneurs on the dark net. Special emphasis is given to the entrepreneurs’ self-concept, their consumer service, knowledge and capabilities and how, in a holistic view, this development innovates the traditional way of dealing illicit drugs.

Details

Entrepreneurship and Development in the 21st Century
Type: Book
ISBN: 978-1-78973-233-7

Keywords

Article
Publication date: 30 October 2020

Julian Strizek, Alexandra Karden and João Matias

The purpose of this paper is to assess the relevance of cryptomarkets, characteristics of purchasers and possibilities for survey research by approaching users directly on…

Abstract

Purpose

The purpose of this paper is to assess the relevance of cryptomarkets, characteristics of purchasers and possibilities for survey research by approaching users directly on cryptomarkets.

Design/methodology/approach

Cross-country comparison of the results from the European Web Survey on Drugs (EWSD) and summarizing lessons learned during the data collection was carried out.

Findings

Purchasers of drugs on cryptomarkets are still a rather small segment of all drug purchasers, and most people who use cryptomarkets also use other sources of supply to buy drugs. The percentage of people using cryptomarkets is unevenly distributed across countries and substances. Purchasers on cryptomarkets in most countries are more likely to be men and more likely, on average, to use more substances. Other characteristics such as age or place of residence do not show a consistent pattern across countries. Recruitment of respondents on cryptomarkets calls for specific techniques and procedures. Specific attention should be paid to build trust and guarantee credibility and anonymity.

Research limitations/implications

Interpretation of the quantitative results is limited by nonprobabilistic sampling and different recruitment strategies in different countries.

Practical implications

Users of cryptomarkets show some specific characteristics, providing a challenge for research and prevention agencies to keep up with digital technology. Increasing knowledge about characteristics of users of cryptomarkets may help to create adequate responses for harm reduction measures in different supply settings. However, collecting self-reported data from users on cryptomarkets is limited owing to significant privacy concerns and requires specific skills and strategies.

Originality/value

The EWSD provides a rare opportunity for detailed analyses of consumption patterns and characteristics of active drug users across several European countries. Furthermore, experiences of a new recruitment strategy are discussed.

Abstract

Details

Cryptomarkets: A Research Companion
Type: Book
ISBN: 978-1-83867-030-6

Article
Publication date: 13 July 2020

Andreas Zaunseder and Angus Bancroft

Trading illicit drugs on cryptomarkets differs in many ways from material retail markets. This paper aims to contribute to existing studies on pricing by studying the…

Abstract

Purpose

Trading illicit drugs on cryptomarkets differs in many ways from material retail markets. This paper aims to contribute to existing studies on pricing by studying the relationship between price changes in relation to changes in nominal value of the cryptocurrency. To this, the authors qualitatively study product descriptions and images to expand the knowledge on price formation.

Design/methodology/approach

The authors analysed 15 samples based on visual and textual scrapes from two major drug markets – for Dream Market between January 2014 and July 2015 and for Tochka between January 2015 and July 2015. This longitudinal study relates changes in process to variations in the Bitcoin exchange rate and selling strategies. The analysis of the marketing of drugs online also addressed the development of the vendor profile and product offers.

Findings

Product prices change in relation to variations in the Bitcoin exchange rate. This points to the application of mechanisms for automatic price adaptations on the market level. Real prices of the drug offers constantly increase. The authors assert that there is a bidirectional relationship. Vendors structure price and discounts to encourage feedback. And feedback in combination with signals of commitment and authenticity inform pricing. Product descriptions are an important feature in the successful marketization of goods, whereas product images are predominantly used as an aspect of recognisability and feature of the vendor’s identity.

Research limitations/implications

Findings suggest that there is great potential for further qualitative research into the relationship between the online and offline identity of drug vendors, as well as price setting when entering the market and subsequent changes for offered products.

Practical implications

Findings also suggest that further investigation into the constitution and management of vendor’s identity on the cryptomarkets would allow a better understanding of vendors and their interactions on cryptomarkets.

Social implications

A better understanding of drug trading on cryptomarkets helps to more effectively address potentials for harm in the online drug trade. Also targetting crime would benefit from a better understanding of vendor idenities and pricing.

Originality/value

The findings represent a valuable contribution to existing knowledge on drug trading on cryptomarkets, particularly in view of pricing and vending strategies.

Details

Drugs and Alcohol Today, vol. 21 no. 2
Type: Research Article
ISSN: 1745-9265

Keywords

Abstract

Details

Cryptomarkets: A Research Companion
Type: Book
ISBN: 978-1-83867-030-6

Abstract

Details

Cryptomarkets: A Research Companion
Type: Book
ISBN: 978-1-83867-030-6

Content available
Book part
Publication date: 25 October 2019

James Martin, Jack Cunliffe and Rasmus Munksgaard

Abstract

Details

Cryptomarkets: A Research Companion
Type: Book
ISBN: 978-1-83867-030-6

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