Post
Topic
Board Economics
Re: Bitcoin is backed by blackmarkets
by
libivan
on 26/09/2014, 08:26:17 UTC
I wonder who in this comunity has ever claimed that the blackmarkets is our (Bitcoin's) goal. It is simply a nonsense assumption.
This, 100 times this.

doesn't matter if anyone claims its the goal of bitcoin or not, the fact is that bitcoin is the money of choice on internet black markets.

Sure, now I understand what you mean, and in this I agree with you.

What I don't agree with is the assumption that this is a big problem for Bitcoin: It is only a problem in the discourse of the anti-bitcoin fear-mongering propaganda  Wink

This is not a good goal to have for bitcoin. If too high of all bitcoin related trade is done on blackmarkets then bitcoin will be much more heavily regulated (including the ability to buy and sell bitcoin with fiat) which will decrease it's value.

I would argue this is what happened when Gox's $5 million account was seized last year - it was too easy to take bitcoin from SR and sell it on Gox

I wonder who in this comunity has ever claimed that the blackmarkets is our (Bitcoin's) goal. It is simply a nonsense assumption.




did i say it was a problem?
this is very good because it generates constant demand for bitcoin.

I meant zorke said.