Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

> Bitcoin is filling, first and foremost, one single human need: to buy drugs.

I know no one who transacts with Bitcoin for drugs (I've been involved with Bitcoin since 2011). DNM is obviously big, but I think you overestimate drug transactions vs how many are merely speculating.



I've mined some in 2009-2010 (sold everything at about $20 sometime later), and then everyone around it was just a crypto enthusiast, yes. But none of these were "normal" people using Bitcoin for normal needs.

How many "normies" have you encountered using Bitcoin, and what do they use it for? The only case I see all the time around me is drugs. I doubt there's a single dealer in the whole city who's still accepting cash.


> How many "normies" have you encountered using Bitcoin, and what do they use it for? (edit: pasted wrong quote)

Most people I know (outside of my nerd circle) that are into Bitcoin buy and hold from places like Coinbase.

> The only case I see all the time around me is drugs. I doubt there's a single dealer in the whole city who's still accepting cash.

I presume you're not living in the poor side of town.

No disrespect intended, but I think this is a classic case of confirmation bias.


Dude, I love in Moscow, and people I know (I'm afraid that they are past recreational use and are deep into real addiction) who buy mephedrone, spice and amphetamines from darknet struggle to pay $400 monthly rent. Why would you some that using Bitcoin has any correlation to how well off you are?


Obviously it's different there. I promise you that in major cities in the US a large amount of drug dealing is done by the poverty class, and 99% of them deal in cash only.


> large amount of drug dealing is done by the poverty class

Same here, as I articulated earlier.

> and 99% of them deal in cash only

Curious, why haven't the dealers moved on from delivering the merchandise hand-to-hand? Isn't it significantly more dangerous than burying?




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: