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How is Bitcoin even remotely as useful as video games or porn? It's 99% speculation and 1% buying drugs online.

• colordrops 9y ago
  Tell all the Chinese that successfully expatriated money how useless Bitcoin is.
  • leereeves 9y ago
    Just curious: who's taking the other side of those trades (BTC for yuan) and what are they doing with all the yuan?
    • aws_ls 9y ago
      Bitcoin has the culture of hodling* so I doubt how much of the pre-existing coins go into the market. So mostly the local currency (yuan/etc) would go to cover the mining costs and salaries of employees and owners. Don't know the impact of closing down of exchanges in China some time back. * - holding but culturally called hodling, perhaps some Grame of Thrones reference(?)...Satoshi did not move their coins and that carries on. So far it has been very resilient. Exchanges hacked and it carried on. But fear remains of some black swan events e.g. Suddenly Satoshi coins on the market etc.