2 ms·
> If bitcoin became commonly used as a way of transacting, but not of storing value or denominating prices it could still be a good enough starting point. Even
by adgar 15y ago
> If bitcoin became commonly used as a way of transacting, but not of storing value or denominating prices it could still be a good enough starting point.
Even if the only markets in which it was "commonly used as a way of transacting" were illegal ones, as a means of money laundering? Is that really a "good enough starting point," a way for drug dealers to clean their money?
- netcan 15y agoI'm not sure that makes any difference. I'm not sure how big this market is, but it could plausibly be big enough. It would probably leak into other markets too. Drug dealers comfortable with bitcoin might also buy shoes with bitcoin etc.
- pessimizer 15y agoAnd I'd be able to buy bitcoin from drug dealers trying to convert bitcoin into cash, buy shoes from someone with the bitcoin, and that someone could sell that bitcoin to someone looking to buy drugs from a drug dealer. The demand for bitcoin naturally smears over the entire market for bitcoin.