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People were pretty excited about using Bitcoin to buy drugs, but it turns out you need a more stable and convenient currency even for drug dealers to be interes
by Kadin 8y ago
People were pretty excited about using Bitcoin to buy drugs, but it turns out you need a more stable and convenient currency even for drug dealers to be interested.
That was the high water mark of consumer interest as far as I've seen. Everything else is just intrigue driven by the get-rich-quick aspect.
- penagwin 8y agoI'll say that for that category they haven't lost interest. Although many places have moved to monero for obvious reasons. They don't care too much they can just exchange it immediately. That industry REQUIRES that payments can't be stoppped/tracked so decentralization makes perfect sense here. Most industries don't have that requirement, and usually benefit from centralized systems.
- acover 8y agoPeople are also excited to launder money
- icebraining 8y agoHow is BTC any better than USD or EUR for laundering money?
- rm_-rf_slash 8y agoDensity. A single 128GB microSD card can hold a lot of bitcoin in the space that could not fit even one $100 bill. No enormous briefcase and predetermined set of answers for law enforcement.
- Juuouzou 8y agowow, you dont know how bitcoin works because that analogy is really stupid. nobody holds bitcoin, they hold private keys that connect to a bitcoin wallet address.
- montenegrohugo 8y agoI mean, what he said IS tecnically correct. You can easily fit a 256-bit key in a 128GB micro SD. Sure, there will be a lot of space left, but what he said is technically correct :D
- sky_rw 8y agoFor hard drugs you may be correct, however there is a booming online pharmaceutical black market where BTC reigns king.