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I wonder how much of bitcoin's value is related to it's ability to buy illegal drugs?


I posited a similar question on a previous BitCoin post and received this response: http://news.ycombinator.com/item?id=5189994 "but odds are that the vast majority of Bitcoin usage still isn't on the Silk Road."


Even if this was true, does it matter? At the end of the day, value is value. I know there's a lot of fatigue on HN about bitcoin stories from the initial spam when it first broke into the mainstream (well, the tech mainstream at least) but it really is a game changer IMO.

By the way, I have never owned any bitcoin. I just find it fascinating.


It might matter. If the main incentive to buy bitcoin is to buy drugs and there is suddenly a crackdown from law enforcement you can expect the value to tank pretty fast.


Actually, I think law enforcement backing off of drugs (decriminalization, etc) would hurt bitcoin more than the opposite.


Sure, but which is more likely to happen?


I was wondering if this is a reaction to the whole 6 strikes thing, and the desire to avoid detection with a seedbox or VPN. Of course, which you would want to pay for anonymously.


I would say a lot.

If you think - why would you use anonymous and basically untracable currency for?

Turns out it is used mostly for drugs and anonymous online services. And a little for online casinos.




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