Quote from: libivan on September 24, 2014, 01:51:51 AM

Quote from: Robert Paulson on September 23, 2014, 11:01:11 PM

Alot of the demand for paper money comes from the fact that you need it to pay taxes to the government, you can't use anything else.

what exclusive use cases does bitcoin have? internet black markets.

you can't use fiat on internet black markets because of the paper trail it will leave, you HAVE to use bitcoin (or some other crypto but for simplicity sake lets say its bitcoin because its the most liquid and has the most secure network in terms of hashing power).
bitcoin is the only way to send money over the internet anonymously, all other methods require interfacing with the banking system which is highly traceable.

so assuming the world drug business remains illegal, and most of it moves from dangerous physical black markets to much safer internet black markets like silkroad, that is very bullish for bitcoin.

we're talking about a huge industry that will have to use bitcoin and will create constant demand for it.

Just like fiat money has always been used by the black markets on the streets, Bitcoin is being used by the black markets online. So, what's the big fuss?

Do you have plans to supress Bitcoin as well as fiat money? Leave only Visa and Mastercard? I doubt this will put an end to the black markets.

I really don't get your point...

my point is that bitcoin's value can not ever go to zero because there will always be demand for it from users of black markets on the internet.
they have no choice but to use crypto currencies.
as long as the bitcoin network has the most secure hash rate as well as the most liquidity when converting to fiat they will choose to use bitcoin.