4 ms·

Wow, you're behind the curve, aren't you.

bsaul 9y ago
Hm, what are bitcoins used for today ? I was still seriously under the impression that there still wasn’t any serious use, except for illegal activities... ( i’m not talking about eth which found an interesting usages with ICOs, just bitcoins). Edit : i’m also not asking for the list of legal shops that accept bitcoins, i’m wondering about the percentage of officialy legal bitcoin transactions vs the rest.
- dmitrygr 9y ago
  mostly for speculation. Nobody buys anything with bitcoin anymore - takes too long and fees are too high.
- CrystalLangUser 9y ago
  Why do you think a public ledger will be the medium for illegal transactions? How exactly do you plan on converting fiat to btc and then paying for transactions? Every step of the way is going to be on the. public. ledger. Forever. Linked to each step along the way. C'mon. BTC is for people who don't want to be at the whim of banks or paypal. Or it was anyways, until the fees became too high and the transaction times became too long. The serious use is with other coins like ETH (powering smart contracts, dApps) and BCH (hard fork of bitcoin from August that doesn't have BTC's current issues). Or altcoins. Raiblocks and XRP have extremely quick confirmation times. All of which have a public ledger by the way. If you want to do illegal activities, you'd probably want to use Monero or NAV, but first you'd have to prove either are truly private.
  - bsaul 9y ago
    Aren’t there any way to hide your transaction by funneling them through exchange platforms ? Plus, if everything was public an easily traceable to a person then why are exchange platforms hacked ? You could easily identify the authors of the hack and sue them... i guess there isn’t enough regulation to make tracing the bitcoin a big enough legal threat. Or that tracing to the wallet without being able to identify the owner is useless. Which means it’s still good for other illegal activities.

Hm, what are bitcoins used for today ? I was still seriously under the impression that there still wasn’t any serious use, except for illegal activities... ( i’m not talking about eth which found an interesting usages with ICOs, just bitcoins). Edit : i’m also not asking for the list of legal shops that accept bitcoins, i’m wondering about the percentage of officialy legal bitcoin transactions vs the rest.

dmitrygr 9y ago
mostly for speculation. Nobody buys anything with bitcoin anymore - takes too long and fees are too high.
CrystalLangUser 9y ago
Why do you think a public ledger will be the medium for illegal transactions? How exactly do you plan on converting fiat to btc and then paying for transactions? Every step of the way is going to be on the. public. ledger. Forever. Linked to each step along the way. C'mon. BTC is for people who don't want to be at the whim of banks or paypal. Or it was anyways, until the fees became too high and the transaction times became too long. The serious use is with other coins like ETH (powering smart contracts, dApps) and BCH (hard fork of bitcoin from August that doesn't have BTC's current issues). Or altcoins. Raiblocks and XRP have extremely quick confirmation times. All of which have a public ledger by the way. If you want to do illegal activities, you'd probably want to use Monero or NAV, but first you'd have to prove either are truly private.
- bsaul 9y ago
  Aren’t there any way to hide your transaction by funneling them through exchange platforms ? Plus, if everything was public an easily traceable to a person then why are exchange platforms hacked ? You could easily identify the authors of the hack and sue them... i guess there isn’t enough regulation to make tracing the bitcoin a big enough legal threat. Or that tracing to the wallet without being able to identify the owner is useless. Which means it’s still good for other illegal activities.