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Hearn: The resolution of the Bitcoin experiment

Hearn: The resolution of the Bitcoin experiment

Posted Jan 18, 2016 15:23 UTC (Mon) by spaetz (guest, #32870)
In reply to: Hearn: The resolution of the Bitcoin experiment by Cyberax
Parent article: Hearn: The resolution of the Bitcoin experiment

> And hundreds of thousands of illegitimate businesses cheer with me! By a some estimates, the illicit businesses are responsible for more than 90% transactions.

I know that the tourism industry is somewhat fishy, but calling expedia (http://techcrunch.com/2014/06/11/expedia-now-accepts-bitc...) and thousands of travel agencies (https://blog.bitpay.com/partnering-with-ypsilon/) illicit businesses is somewhat strong ;-P.

Let me trump yours: Here is my estimate: 92% of all cash transactions are funneled through illicit businesses.
There you go: By some estimates, the illicite bussines are responsible for more than 91% of all cash transactions. Beat that :)

That having said, I bought bitcoins when they were at $0.03 and got cold feet when they were at $1, I have no horse in this race. They won't go away, but they will never replace the greenback. I find it interesting though that many people are not really aware how they work and what the drawbacks will be. E.g. they are not necessarily free (http://bitcoinfees.com/ explains it well) and can beat credit card fees at times.


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Hearn: The resolution of the Bitcoin experiment

Posted Jan 18, 2016 18:12 UTC (Mon) by Cyberax (✭ supporter ✭, #52523) [Link]

Do you have problems with logic? The fact that there are SOME legitimate businesses does not mean that most of the transactions are legal.

The state of Bitcoin is summed up here: http://www.coindesk.com/5-facts-from-the-q3-2015-state-of...

> Let me trump yours: Here is my estimate: 92% of all cash transactions are funneled through illicit businesses. There you go: By some estimates, the illicite bussines are responsible for more than 91% of all cash transactions. Beat that :)
Let's eliminate cash, then.


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