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This claim was made often early on, without any supporting evidence. Because the network and userbase was smaller it was more plausible. Now it's substantially
by LMYahooTFY 4y ago
This claim was made often early on, without any supporting evidence. Because the network and userbase was smaller it was more plausible. Now it's substantially larger, and industry has developed within it.
So what's honest about claiming that it was or continues to be without any data?
Even if you decided to go out and attempt to gather this data (good luck), why does this matter? How much impact to the USD do you think there would be if all illegal drug trade stopped tomorrow?
- mountainriver 4y agoThere are a bunch of estimates on this, and I would say based on what we've seen lately with FTX that there is likely an even larger amount of fraud in the system than is known. Yes the USD is also used for illicit activity, but thats just cash, and we actively try to stop it.
- LMYahooTFY 4y agoAgree about FTX, but much of it was unsurprising to those paying attention, and that wasn't merely fraud about Crypto, that was an epic failure on the part of a few of the world's preeminent investors. >but thats just cash I'm not sure what you mean by this, can you elaborate? Every estimate I've found is very poor quality data, and I'm happy to pick apart any. It's similar to the energy use estimates which are equally poor and often miss vital distinctions.
- mountainriver 4y agoits limited to a paper form of money, having an electronic currency like this opens a lot of doors for malfeasance