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Bitcoin (& litecoin) are the sole currencies of dark net drug trade, which is a large, exponentially growing business. Bitcoin is working very effectively in t
by toasted 12y ago
Bitcoin (& litecoin) are the sole currencies of dark net drug trade, which is a large, exponentially growing business. Bitcoin is working very effectively in the wild, and all the dorky conjecture doesn't change that.
I only vaguely understand stellar (and ripple), but one thing i do know is that for all the hype over the last few years noone ever used ripple for anything other than speculation. Stellar is also shaping up in a similar way.
- wyager 12y agoStellar doesn't deserve the title of "cryptocurrency". It is centralized. It's basically just a fork of Ripple; it was never used because it wasn't really an improvement over fiat systems in any way. A small number of nodes have all the power. If they want, they can freeze your funds or steal from you via arbitrary inflation. Stellar is just as bad.
- dobbsbob 12y agoCIS/Russian org crime groups can soon buy a bunch of Stellers with fraudulent cards through Stripe, cash them out through p2p methods. Why bother carding and fencing iphones and laptops when you can just buy Stellers and convert them to bitcoins or wire transfers directly.
- wmf 12y agoFor this exact reason, one may predict that Stripe will not allow people to buy stellars with credit cards. Stripe may issue (revocable) USD credit over Stellar, though.
- dreamdu5t 12y agoStellar and Ripple are fundamentally different from Bitcoin in that a central authority controls the creation of new coins. Stellar can easily change the amount of coins introduced in the future, and can freeze your funds. I like to call things like Stellar and Amazon Coins corpocurrencies :)