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The elephant in the room here is that Bitcoin is dodgy. It's proponents claim that it has all sorts of uses, but the only thing people actually use it for is i
by qKTDxAy4KfcOjA9 11y ago
The elephant in the room here is that Bitcoin is dodgy.
It's proponents claim that it has all sorts of uses, but the only thing people actually use it for is illegal activity.
Since the Ross Ulbricht trial, it has become obvious that even using it for illegal activity is a bad idea, as it's easily traceable.
- jordigh 11y agoSigh, I use bitcoins to get paid for online math tutoring, and I've spent them to buy headphones online and madeleines at coffee shops. I am not just a proponent; it just so happens that bitcoins are a convenient form of international internet money for me.
- everfree 11y agoUgh. I use Bitcoin to buy and sell Team Fortress 2 items, because it doesn't have the counterparty risk that something like Paypal has (and it also has lower fees for the time being). Using Bitcoin also has the advantage that I can transact with it even in countries that Paypal doesn't support, and I don't have to worry about the Paypal account freezing bs that shows up in tech news from time to time. Also it's not true that using it for illegal activity is a bad idea - the evidence that Ross Ulbricht was ultimately found and convicted on was his internet activity not related to Bitcoin. If you do it right and use mixers properly, you can make Bitcoin untraceable. So actually, Bitcoin is usable for both legal and illegal purposes, which is a gold standard for any currency.
- RaleyField 11y ago> The elephant in the room here is that Bitcoin is dodgy. How people use is not its intrinsic property.
- wiseleo 11y agoIt's ahead of its time. As lines blur between nations and international commerce becomes routine, there will be a need for global currency not subject to an individual nation's laws.