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Yeah I don't know where Taavet's numbers are coming from. There's a lot of these studies, here's one of many: http://www.coindesk.com/dark-web-markets-processed
by brighton36 11y ago
Yeah I don't know where Taavet's numbers are coming from. There's a lot of these studies, here's one of many: http://www.coindesk.com/dark-web-markets-processed-more-bitcoin-than-bitpay-in-2014/ http://www.coindesk.com/dark-web-markets-processed-more-bitc...
For as long as the federal government wants to subsidize mining, bitcoin is probably here to stay. I don't see any of the competitors capturing these subsidies.
- emodendroket 11y agoProbably from his payment service? If the sole use of Bitcoin is buying illegal goods on the "dark Web" I think we can say that the various currencies of the world are not facing a serious threat.
- brighton36 11y agoBitcoin is for the underserved. Further, it's subsidized by the premium on fungible value. So it's necessarily not posing a threat to incumbent currencies. Taavet Hinrikus certainly drew from his own failed endeavor. But I don't know how he didn't extrapolate the state of the wider market.
- pg_is_a_butt 11y agotell that to the traces of cocaine on every $100 bill in circulation. you're an idiot.