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Yes. All the time, just not for the things you and I buy such as groceries and transportation. Instead Bitcoin is used to buy illegal products and services suc
by dudus 2y ago
Yes. All the time, just not for the things you and I buy such as groceries and transportation.
Instead Bitcoin is used to buy illegal products and services such as drugs, weapons, politicians and hit men
- str3wer 2y agoah the old debunked story "but crypto is used only for crime" https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/ https://www.forbes.com/sites/haileylennon/2021/01/19/the-fal...
- deleted 2y ago[deleted]
- diegoholiveira 2y agoUSD and EUR is also used to buy illegal products.
- FabHK 2y agoWell, yes, fiat is extraordinarily useful, and used, including for crime. However, there are many rules and mechanisms in place to stop fiat being used for crime (KYC, AML, CTF, ...). So, it is better suited to legitimate transactions, and worse for illegitimate ones. Lastly, fiat is indispensable in running a modern economy. In contrast, crypto is designed (qua permissionlessness) to evade regulation. Since it's fairly crappy technology, it's also slow and inefficient and cumbersome. So, it is better suited to illegitimate transactions than to legitimate ones. Lastly, crypto is entirely dispensable.
- diegoholiveira 2y ago> However, there are many rules and mechanisms in place to stop fiat being used for crime Yes, but even with those mechanisms in place, crime was doing ok without crypto. > Lastly, fiat is indispensable in running a modern economy. Not sure about this.