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?
You ve literally no proof for yourself delusions about it being a “store for value”, but I’ve showered you with europol and other statistics showing that TRILLIONS are being used in criminal enterprises.
Do you know how large a number a trillion is?
Just because there are some barely valuable pump and dump meme coins doesn’t make my original assertion any lesser correct. Having a few hundred million worth is nothing compared to the TRILLIONS in drug money.
And like I said, it’s inherently impossible to quantify a BLACK MARKET, so the data we have is only showing a miniscule proportion of the actual illegal trades and even the best estimates are shown to be extremely conservative.
"Another online survey, based on a convenience sample of more than 100,000 participants in 35 countries worldwide, suggested that the proportion of Internet-using drug consumers who had purchased drugs on the dark web in the previous 12 months had more than doubled between 2014 and 2022, from 4.7 to 10.8 per cent.19 Although plausible, these findings should be interpreted with caution, because they are not based on representative global samples but on convenience samples that are characterized by an overrepresentation of Internet users in Europe, the Americas and Oceania.
Overlap that with the value of bitcoin. When was it’s sharpest rise again?
Oh my. Looks like reality keeps differing with your delusions, mister “I-won’t-accept-being-wrong-no-no-no”
The “investing” in cryptos is a tiny tiny tiny tiny tiny, but vocal internet population.
The drug trade however, is literally global and like a third of the entire world take part in it in one way or another. Usually by being the consumers of drugs or by supporting the trade indirectly.
Like we’ve stats that about 1% of the global population has an actual drug dependency. But if we’re talking just casual use randomly,
It’s right there, black-on-white, just the synthetic drug trade is in the trillions.
It doesn’t matter what you think, if you use Bitcoin as a “store of value”, you’re indirectly supporting drug cartels because of your delusions and willfull ignorance.
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?
You ve literally no proof for yourself delusions about it being a “store for value”, but I’ve showered you with europol and other statistics showing that TRILLIONS are being used in criminal enterprises.
Do you know how large a number a trillion is?
Just because there are some barely valuable pump and dump meme coins doesn’t make my original assertion any lesser correct. Having a few hundred million worth is nothing compared to the TRILLIONS in drug money.
And like I said, it’s inherently impossible to quantify a BLACK MARKET, so the data we have is only showing a miniscule proportion of the actual illegal trades and even the best estimates are shown to be extremely conservative.
You just can’t face reality.
https://www.drugpolicyfacts.org/node/4383
Overlap that with the value of bitcoin. When was it’s sharpest rise again?
Oh my. Looks like reality keeps differing with your delusions, mister “I-won’t-accept-being-wrong-no-no-no”
What claim did I make that you want a source for…?
“It’s used as a store of value.”
No-one agrees.
The “investing” in cryptos is a tiny tiny tiny tiny tiny, but vocal internet population.
The drug trade however, is literally global and like a third of the entire world take part in it in one way or another. Usually by being the consumers of drugs or by supporting the trade indirectly.
Like we’ve stats that about 1% of the global population has an actual drug dependency. But if we’re talking just casual use randomly,
It’s right there, black-on-white, just the synthetic drug trade is in the trillions.
It doesn’t matter what you think, if you use Bitcoin as a “store of value”, you’re indirectly supporting drug cartels because of your delusions and willfull ignorance.