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> I can't imagine the majority of users are criminals. The overwhelming majority use of bitcoin is speculation on Chinese exchanges - 95% of blockchain activi
by davidgerard 10y ago
> I can't imagine the majority of users are criminals.
The overwhelming majority use of bitcoin is speculation on Chinese exchanges - 95% of blockchain activity. Even drug users and ransomware are sideshows.
http://www.coindesk.com/state-of-bitcoin-blockchain-2016/ http://www.coindesk.com/state-of-bitcoin-blockchain-2016/
- csomar 10y ago1. You have no definitive proof for that. If you do, please present it. 2. The amount of Futures contract in Okcoin is around $120million (that's not even capital, but the amount of leveraged futures). The total market cap of bitcoin is $12Bn which 100 times higher than that. 3. GBTC has a market cap of $190m with a 50% premium on bitcoin price. So clearly it's not only the chinese who drives the bitcoin price/economy.
- davidgerard 10y agoI literally linked my reference. I found similar references. Lowest figure I've seen is 90% Chinese speculators. edit: if you mean the drug usage as the next biggest: in 2014, darknet markets saw more use than all legitimate payment processors put together. https://www.usenix.org/conference/usenixsecurity15/technical-sessions/presentation/soska https://www.usenix.org/conference/usenixsecurity15/technical...