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The claim that bitcoin is useless is not valid. In fact, the anonymity of bitcoin might be of huge value to the "dark side": drug dealers, tax evaders, porn vie
by coinbeats 9y ago
The claim that bitcoin is useless is not valid. In fact, the anonymity of bitcoin might be of huge value to the "dark side": drug dealers, tax evaders, porn viewers, ... You name it.
These hidden markets, though usually under radar of the public, could contribute significantly the bitcoin's market cap.
Btw, this weekend I hacked together to chatbot to send me bitcoin-related news alert. Feel free to try it out:
https://www.facebook.com/messages/t/1503071509774319 https://www.facebook.com/messages/t/1503071509774319
- walrus1066 9y agoIt's not really useful for that either. If I was a drug dealer, I'd want to use a more stable asset than bitcoin. Otherwise I risk buying goods when the price of coin is high, but when I want to sell my goods the price might have halved, at which point I'd either have to take a loss, or hold off from selling my drugs until the coin value has recovered, which could be ages, it'd be bad for business.
- zaarn 9y agoBitcoin is not anonymous, it's pseudonymous. Big difference. If you want actual anonymity there is Monero and to some extend ZCash.
- wrinkl3 9y agoNowadays Bitcoin is much less anonymous than it once used to be - the nature of its blockchain is inherently transparent and I imagine every large law enforcement agency in the world has resources allocated towards blockchain analysis. All the cool kids are buying their drugs with Monero now, since its blockchain allows for a much greater degree of anonymity.