3 ms·
Yes, because most of the transfers happening are speculative investment trades, arbitrage, etc. People moving money around, without paying for anything. That
by kube-system 2y ago
Yes, because most of the transfers happening are speculative investment trades, arbitrage, etc. People moving money around, without paying for anything.
That source says, when it comes to the demand in terms of spending crypto for goods or services:
> 46% of transactions are due to illegal transactions
- fallingsquirrel 2y agoThe 46% is a quote from an obsoleted paper, and it then goes on to explain why their methodology was flawed.
- kube-system 2y agoIt’s a difference of opinion between the authors. If Bob transfers $10 back and forth between both of his bank accounts 99 times and then buys $10 worth of crack, would you say that 1% of Bobs money was used for illegal purposes or 100% of it was used for illegal purposes? Depends on what specifically you're trying to measure. There are two things here that are simultaneously true: 1. A small percent of BTC transactions are for illicit purposes. 2. A large percentage of the goods and services purchased with BTC are illicit.