Post
Topic
Board Speculation
Re: The adoption boom is coming
by
buwaytress
on 01/12/2016, 13:29:05 UTC
Bitcoin's use will never be for that. The current system used for day to day shopping works perfectly. The banks and the payment processors that are established are all giving efficiency and convenience to their users so Bitcoin has no place in it. Where Bitcoin thrives and will thrive more is in the black market and online dark markets simply because the banks do not serve that space.
So basically you think that bitcoin is only good if you are a gambler, tax evader or black market user?

I do not consider it only good. It is a really excellent tool for doing illegal stuff online. Have you seen the interest from ransomware using hackers? It is increasing. I will not be astonished if we find out that different terrorist groups are using Bitcoin as a tool for value transfer.
Ransomware is natural evolution of cyber crime, it is not because bitcoin was invented we have this problem - it is the the other way around.
Blaming BTC for ransomware is like blaming RSA encryption schemes or any other encryption method - because thanks to them our files can be targeted...
Cryptocurrency is a just a catalyst for every cyber crime but it is too late to back off, if not BTC they would be using LTC, ETH, XMR or Dash - it doesn't matter.


Scare tactics and economic propaganda seem to be working as these misconceptions are still pervasive - even within the crypto community it seems.

If you think about it, BTC is actually NOT an excellent tool for doing stuff online - not when you have to go through the trouble of washing your bits a billion times (and believe me, the most dogged Tom, Dick or Harry can still trace back your bitcoins).

Doing fiat with corrupt bank officials is still the choiciest and easiest way for criminal activity. You can't "fix" the blockchain.