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> it has no utility People buy drugs with it. People evade tax with it. People evade currency controls with it. When will people stop making this crazy false
by 55555 9y ago
> it has no utility
People buy drugs with it. People evade tax with it. People evade currency controls with it.
When will people stop making this crazy false claim?
- bsaul 9y agoYes, illegal activities, you're right. But betting on something as famous and easily accessible keeping evading law for a long time is a risky bet. As for "Evading currency control" it doesn't mean anything for individual, i'm sorry (unless you're an autonomous region trying to get rid of central bank policy, but i don't think any has adopted bitcoin yet)
- fragmede 9y agoIt's risky and I wouldn't recommend betting on it, but file sharing and drugs haven't gone away, despite the government fighting them for many years. The exact mechanism for trading bits over the Internet that other people don't want you to has evolved since the days of Napster, but music and video for free over the Internet are more accessible than ever. The other example is the War on Drugs, and we're right in the middle of an opiate epidemic, so you tell me how well that's going. Bitcoin is backed - by the opposite of the government - the DEA keeps cannabis, cocaine, and heroin illegal, which means that Bitcoin is actually useful for moving money around for drug dealers and terrorists; anyone who can't use the mainstream banking system due to prohibition by the US government. (North Korea is another example of who's not allowed to bank.) However, this does not let us calculate how much a Bitcoin should be worth, it only allows us to say that there is actually a use for Bitcoin, and it's not purely speculation.
- stemc43 9y agocan confirm. I buy all my drugs with it
- umanwizard 9y agoI’ve never bought drugs on the internet, so my understanding is possibly wrong, but isn’t Monero the currency of choice these days?