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Hi, here is most simple explanation what it does: Simple solution for illegal/semi-legal activities. Think some goods, money laundering (try to transfer money
by achempion 6y ago
Hi, here is most simple explanation what it does:
Simple solution for illegal/semi-legal activities. Think some goods, money laundering (try to transfer money to North Korea, Iran) even to your relative.
Also, there are some privacy minded individuals as well who would like to pay for things like VPN, domains, servers who don't want to get their account tied to theirs credit card.
Speaking of Ethereum, think of it like digital money + some js function which can be executed on demand. It allows you to make scams like bitconnect. In other words casino / gambling. Really hard to do legally but very easy to deploy casino function to Ethereum. Those markets are huge.
- floatboth 6y agoYes, buying weed and VPN accounts is the good use of censorship-resistant money. Unfortunately there's also the bad uses like, you know, any kind of extortion (especially ransomware), fraud, scams.. oh you even mentioned the scams! :)