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Even then this is a strawman, the main use for BTC is not transactions, it is the store of value in front of inflation. Suppose 90% of users saved in BTC and on
by prichino 6y ago
Even then this is a strawman, the main use for BTC is not transactions, it is the store of value in front of inflation. Suppose 90% of users saved in BTC and only cashed out once a year, and 10% are frequently using drug dealers (pun intended) that would be a low number of legitimate transactions but BTC itself would be legitimately helping a lot of people.
- bitxbitxbitcoin 6y agoAgreed. This is still a strawman even if the majority of on chain transactions were one hop associated to verified addresses from darknet markets. Another punny point: drug dealers that are following the Ten Crack Commandments[0] shouldn't be frequent users. [0] https://en.wikipedia.org/wiki/Ten_Crack_Commandments#:~:text=%22Ten%20Crack%20Commandments%22%20is%20a,one%20song%20about%20selling%20drugs https://en.wikipedia.org/wiki/Ten_Crack_Commandments#:~:text....
- noxer 6y agoThe main use is speculation not a store of value. If BTC would counter inflation and keep its value (equal purchase power) even with high volatility no one would care about it. It would still be worth single digit dollar or more likely it would have died a few years after it went online. People buy BTC because they want to sell for significant more to a later time.