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I really doubt that. It's definitely a thing that people parrot around, but it's not likely to make up more than 5% of the actual use. Transacting in cash USD
by brndnmtthws 9y ago
I really doubt that. It's definitely a thing that people parrot around, but it's not likely to make up more than 5% of the actual use.
Transacting in cash USD is still the preferred currency of the cartels.
- emodendroket 9y agoThe question isn't what percentage of black-market sales are BTC; it's what percentage of BTC sales (excluding speculation) are black-market.
- leereeves 9y agoAnd a related question, which I'd love to know the answer to: What are the other major uses (excluding speculation) of BTC?
- kovek 9y agoSending funds to family in a different country. It's a use case I have not had experience with but which I think makes sense.
- leereeves 9y agoIs it really cheaper or easier to buy BTC, transfer them, then sell them than to transfer money through a traditional service?
- nrhk 9y agoFaster and cheaper with segwit not sure what its like currently. I transferred 5k to someone in 40 seconds for like a 20 cent fee with Eth a few months ago, it could be 100k and the fee would stay the same too. You also get the money immediately without it going through the ACH network.
- leereeves 9y agoThat's if you already have BTC and the person you're transferring to wants BTC, but if you're simply using BTC as a way to transfer fiat money from one country to another, there are more fees and delays in the buying and selling.
- tombot9000 9y agoThe valuation of BTC is also a derivatives market of illegal activity, something which is not illegal itself.