1. facilitating "illegal" activities (ransomware, dodging capital controls and taxes, drugs, etc), similar to cash 2. speculation: "Someone speculating on Bitc

1. facilitating "illegal" activities (ransomware, dodging capital controls and taxes, drugs, etc), similar to cash 2. speculation: "Someone speculating on Bitcoin over a week cares little about its fundamental value: even if you told her that Bitcoin would crash to zero for sure in three years, it would make essentially no dent in her trading profits, since you can make a lot of money in a volatile market over the course of a week if you get on the right side of the volatility." https://review.chicagobooth.edu/finance/2018/article/bitcoin-market-isn-t-irrational https://review.chicagobooth.edu/finance/2018/article/bitcoin...