2 ms·
It's hyperbole but it has some truth to it. Why would you go through the hassle and possibly loss of money to convert fiat to bitcoins then purchase things wit
by Igglyboo 12y ago
It's hyperbole but it has some truth to it.
Why would you go through the hassle and possibly loss of money to convert fiat to bitcoins then purchase things with bitcoins instead of just buying with fiat? You wouldn't, except that bitcoin is anonymous so you can use it to buy things privately. Most people really don't care enough about the privacy of an average amazon purchase to go through all this hassle.
When you're buying illegal goods, however, privacy is #1. And what is the most popular item on the most popular illegal goods marketplaces? Drugs.
Almost everyone I know that uses bitcoin is either speculating to make a quick buck, or using it to buy something on a darknet market. I'm sure there are people using it for everyday goods but it really doesn't make much sense to do that now unless you value your privacy very highly.
- ingler 12y ago> that bitcoin is anonymous It used to be anonymous. It's now highly traceable due to AML and KYC having been introduced into the Bitcoin ecosphere by regulation.
- wmil 12y agoIt's also useful for bypassing currency controls. Some countries have an official exchange rate, but a very different black market exchange rate. In Venezuela , local bitcoin sites are selling BTC for the equivalent of over $6000USD at the official exchange rate. If you manage to exchange them without being robbed a few BTC can pay for a hell of a vacation.