Between February 2011 and July 2013, the site facilitated sales amounting to 9,519,664 bitcoins
While nowadays places do accept bitcoin and it could also be used as a every niche currency, in practice, there is no use for it, except purchasing illegal goods and services.
Because if you actually need something that isn’t illegal, why the fuck would you use bitcoin? Because first off, you’d have to find someone who agrees to accept it. Are there any supermarkets where you live which accept bitcoin? Any stores which accept it, period? Perhaps the local headshop/vapestore/other such place run by some weed-worshipping 20-year old might, but seeing how slow it is, that’s doubtful either. People take donations on sites in Bitcoin.
What use does Bitcoin actually have, except for illegal shit?
It’s downright obtuse pretending otherwise. When Bitcoin came out in 2009, it had no users or use cases. Then 2011 Silk Road opens and less than three years later there are official inquiries from states like UK into cryptos, because it started the crypto boom and made Bitcoin actually valuable, because it’s used to facilitate drug deals, which are worth actual money.
So because it has a base value of the trading going on in the marketplaces, investors started just buying it because it was a very good investment. But people don’t buy it to use as currency — unless they plan on buying something illegal.
It’s an actively used currency. Very actively. There’s probably been thousands of transactions in the time we’ve had this chat.
It’s just that pretty much every single one of those is for drugs or other illegal services, mostly drugs. (I say “pretty much everyone” because there’s the offchance that someone has actually used one of those niche stores which accept bitcoin).
We only have data for busted markets, which is only a miniscule proportion of the trade being done, yet it still far outweighs any transactions used for legal purposes. Even when stores like growstores accept bitcoin and growers sometimes use their profits (made illegally, from several illegal transactions) to do one transaction which is for legal grow shit. The amount they’ll make off that gear will be far greater than the it’s cost.
This isn’t a debate. This is you just refusing to accept reality.
Cryptocurrency emerged in 2008 with the Bitcoin whitepaper as a scientific experiment. In less than ten years, it had become a part of the global financial system with the capitalization of trillions of dollars. To understand more about how cryptocurrencies are used, please see the video below.
The criminal use of cryptocurrency is no longer primarily confined to
cybercrime activities, but now relates to all types of crime that require
the transmission of monetary value. However, the scale and share of
the illicit use of cryptocurrencies as part of criminal activities is difficult
to estimate
It’s impossible to have specific numbers of a black market, in case you want something even more specific, but despite not being able to pin down specific numbers, it’s obvious.
Secondly, like I already said, it’s irrelevant. Bitcoin is for storing value.
Like I said, this isn’t a debate. It’s just you refusing reality.
Those studied specify bitcoin, but they talk about it as the tech it is. Some memecoins have stock sure, but the most stable and valuable is bitcoin. Why? Because most of it is being actively used for criminal enterprises.
There wouldn’t be any value in bitcoin without drug markets. That’s the point. The only reason some wannabe 20’s think it’s to “store value” is because they can’t afford any of the things which actual investors invest in.
You demand proof from me, yet you don’t even offer a rationale to your delusions. Quite hypocritical, no?
I’d say it’s closer to 99.9%, and that’s a conservative estimate, in line with data. Where’s yours?
Like some whiny kid said a few comments ago: “source?”
I’d say it’s closer to 99.9%, and that’s a conservative estimate, in line with data.
Also you’ve failed to cite anything that even points to a ballpark percentage. Which data specifically points to ~100% of Bitcoin transactions being used to directly fund illegal activities?
Your thesis:
I’ve bought a ton of drugs with cash. Is cash mostly used for illegal shit?
What a shit strawman. The illegal drug trade figuring out it could use tor and bitcoin is what made cryptos popular.
No-one knew shit about them before that. The blockchain was invented in the 90’s.
https://en.m.wikipedia.org/wiki/Silk_Road_(marketplace)
While nowadays places do accept bitcoin and it could also be used as a every niche currency, in practice, there is no use for it, except purchasing illegal goods and services.
Because if you actually need something that isn’t illegal, why the fuck would you use bitcoin? Because first off, you’d have to find someone who agrees to accept it. Are there any supermarkets where you live which accept bitcoin? Any stores which accept it, period? Perhaps the local headshop/vapestore/other such place run by some weed-worshipping 20-year old might, but seeing how slow it is, that’s doubtful either. People take donations on sites in Bitcoin.
What use does Bitcoin actually have, except for illegal shit?
It’s downright obtuse pretending otherwise. When Bitcoin came out in 2009, it had no users or use cases. Then 2011 Silk Road opens and less than three years later there are official inquiries from states like UK into cryptos, because it started the crypto boom and made Bitcoin actually valuable, because it’s used to facilitate drug deals, which are worth actual money.
So because it has a base value of the trading going on in the marketplaces, investors started just buying it because it was a very good investment. But people don’t buy it to use as currency — unless they plan on buying something illegal.
As a decentralized store of value.
But it’s not.
It’s an actively used currency. Very actively. There’s probably been thousands of transactions in the time we’ve had this chat.
It’s just that pretty much every single one of those is for drugs or other illegal services, mostly drugs. (I say “pretty much everyone” because there’s the offchance that someone has actually used one of those niche stores which accept bitcoin).
So I’ve given you plenty of proof.
Based on your best guess.
Its also not relevant. Bitcoins key utility is as a store of value, and that’s what its being used for most.
No, based on actual data available.
We only have data for busted markets, which is only a miniscule proportion of the trade being done, yet it still far outweighs any transactions used for legal purposes. Even when stores like growstores accept bitcoin and growers sometimes use their profits (made illegally, from several illegal transactions) to do one transaction which is for legal grow shit. The amount they’ll make off that gear will be far greater than the it’s cost.
This isn’t a debate. This is you just refusing to accept reality.
https://syntheticdrugs.unodc.org/syntheticdrugs/en/cybercrime/onlinetrafficking/payment/index.html
https://www.europol.europa.eu/cms/sites/default/files/documents/Europol Spotlight - Cryptocurrencies - Tracing the evolution of criminal finances.pdf
It’s impossible to have specific numbers of a black market, in case you want something even more specific, but despite not being able to pin down specific numbers, it’s obvious.
First of all, we aren’t talking about cryptocurrency, we’re talking about Bitcoin.
Secondly, like I already said, it’s irrelevant. Bitcoin is for storing value.
Edit: To put it another way, let’s say >51% of Bitcoin transactions are used to facilitate illegal activities – so what?
Like I said, this isn’t a debate. It’s just you refusing reality.
Those studied specify bitcoin, but they talk about it as the tech it is. Some memecoins have stock sure, but the most stable and valuable is bitcoin. Why? Because most of it is being actively used for criminal enterprises.
There wouldn’t be any value in bitcoin without drug markets. That’s the point. The only reason some wannabe 20’s think it’s to “store value” is because they can’t afford any of the things which actual investors invest in.
You demand proof from me, yet you don’t even offer a rationale to your delusions. Quite hypocritical, no?
I’d say it’s closer to 99.9%, and that’s a conservative estimate, in line with data. Where’s yours?
Like some whiny kid said a few comments ago: “source?”
Also you’ve failed to cite anything that even points to a ballpark percentage. Which data specifically points to ~100% of Bitcoin transactions being used to directly fund illegal activities?
What claim did I make that you want a source for…?