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This is what I've always thought, to find a real footing there has to be some economy to which bitcoin/some cryptocurrency is the lingua franca, the closest we'
by canoebuilder 9y ago
This is what I've always thought, to find a real footing there has to be some economy to which bitcoin/some cryptocurrency is the lingua franca, the closest we've seen in that regard is silk road, et al. and ransomware, if you want to call those economies.
But here's the problem with this idea as being some buoy for bitcoin/cryptocurrencies, once an economy of this sort develops with some semblance of structure, that market is going to seek out inefficiencies. First on the chopping block? A massively inefficient distributed currency system.
For this reason I think any sustainable use case of a bitcoin like system is necessarily rather niche, and rather 'seedy' or worse, ransomware, etc. But if all the bitcoin dreamers fade away, it becomes much easier to counteract the use of btc-like systems for ransomware extortions and the like.