Hacker News new | past | comments | ask | show | jobs | submit login

Like buying drugs, money laundering, and hoarding. So far only one of those is legal.

Bitcoin has a lot of legit use cases: https://news.ycombinator.com/item?id=15228983

I find the claim of being able to cheaply and quickly transfer large amounts of money to be comical. The argument breaks down to, traditional transfer methods take too long, so let’s add two layers of traditional transfer methods on top of a bitcoin transfer. Then we just ignore the bid/ask spread and the transfer time on either side.

You are not thinking outside of the box: the advantages of Bitcoin multiply when you stay in bitcoins without converting to/from fiat currency.

For example my brother in France owns some bitcoins. One day he sent me, who live in the US, some bitcoins. I was able to spend them instantly (~10 minutes) on NewEgg to buy computer hardware. None of us had to convert to/from fiat. The fees were small and the transfer was incredibly fast compared to a regular bank wire.

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