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0 pointscaeril5y ago0 comments

It definitely has a killer app. Probably not a big enough app to justify these prices, but one nonetheless.

As Stripe, PayPal, Visa, Gofundme, Patreon, et. al. shut down avenues of payments for legal, but unpopular purchases, BTC is the obvious workaround.

Vendors of firearms, pornography, legal funds for unpopular causes, dissident content creators, etc have become increasingly estranged from the "normal" payments market in the last few years. BTC is the killer app for this.

0 comments

puranjay5y ago

Privacy coins are far more suited for skirting regulations. If that's the killer app, you would see mass adoption of Monero, not BTC

newsclues5y ago

If BTCs killer app is criminal transactions, then regulation is guaranteed.

dgellow5y ago

> Vendors of firearms, pornography, legal funds for unpopular causes, dissident content creators

Neither pornography, nor legal funds for unpopular cause (think WikiLeaks), or dissident creators are criminal. At least not in the US or Europe. But they are still blocked by the main payment processing companies.

newsclues5y ago

The theory and reality don’t match.

Drugs are likely the number one things bought using crypto as currency.

Firearms and pornography can be bought with dollars if you’re using crypto to buy them or other unpopular goods or services, you are veering dangerously close to black markets, which invite regulation.

caerilOP5y ago

Right, but I'm specifically referring to legal, but repressed transactions.

eecks5y ago

Is it illegal to transfer value from person A to person B without the middleman?

alisonkisk5y ago

In many cases, yes. It's not the "middleman" that is required, but reporting the transaction to the government is.

2 more replies

TearsInTheRain5y ago

And we seem to be creating more and more dissidents everyday

digianarchist5y ago

Regulation just shifts to exchanges. Bitstamp already ask for a ridiculous amount of information regarding source of funds.

j / k navigate · click thread line to collapse

0 pointscaeril5y ago0 comments

It definitely has a killer app. Probably not a big enough app to justify these prices, but one nonetheless.

As Stripe, PayPal, Visa, Gofundme, Patreon, et. al. shut down avenues of payments for legal, but unpopular purchases, BTC is the obvious workaround.

0 comments

puranjay5y ago

Privacy coins are far more suited for skirting regulations. If that's the killer app, you would see mass adoption of Monero, not BTC

newsclues5y ago

If BTCs killer app is criminal transactions, then regulation is guaranteed.

dgellow5y ago

> Vendors of firearms, pornography, legal funds for unpopular causes, dissident content creators

newsclues5y ago

The theory and reality don’t match.

Drugs are likely the number one things bought using crypto as currency.

caerilOP5y ago

Right, but I'm specifically referring to legal, but repressed transactions.

eecks5y ago

Is it illegal to transfer value from person A to person B without the middleman?

alisonkisk5y ago

In many cases, yes. It's not the "middleman" that is required, but reporting the transaction to the government is.

2 more replies

TearsInTheRain5y ago

And we seem to be creating more and more dissidents everyday

digianarchist5y ago

Regulation just shifts to exchanges. Bitstamp already ask for a ridiculous amount of information regarding source of funds.

j / k navigate · click thread line to collapse