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Bypassing financial regulations, extortion, llicit substance trade and many other forms of small-time illegal activities. If you strip speculative value and all
by Laforet 9y ago
Bypassing financial regulations, extortion, llicit substance trade and many other forms of small-time illegal activities. If you strip speculative value and all the technical gloss, what's left is essentially Liberty Reserve 2.0.
https://en.m.wikipedia.org/wiki/Liberty_Reserve https://en.m.wikipedia.org/wiki/Liberty_Reserve
P.S. Fees has actually got lower since the worst back in May, but there is no telling it won't happen again. Paying for anon hosting is not a bad idea but fewer providers are willing to provide it now - Vultr still accept bitcoin but require to have credit card on file as well due to abuse.
- Hermel 9y agoVolume-wise, the biggest use case is speculation and store of wealth (just like gold in the physical world). By number of transactions it is gambling (eg poker), another one you forgot to list.
- Laforet 9y agoI will admit that I am not very familiar with the bitcoin gambling scene. It's hard to imagine that people will go through the trouble to bet with bitcoin when most places in the world with good infrastructure to support bitcoin also tend to have accessible gambling activities using fiat.
- ericb 9y agoYou forgot some: -Peer to peer remote transactions -Embed money into a binary, a puzzle, an image, a file -Non-correlated asset https://www.thebalance.com/what-is-asset-correlation-2894312 https://www.thebalance.com/what-is-asset-correlation-2894312 -The only money no one can take away from you, even states. Protection from governments like Greece -Inflation hedge. Protection from governments like Venezuela.
- aussieguy123 9y ago-The only money no one can take away from you, even states. Protection from governments like Greece except hackers, if they get their hands on your wallet.