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the ideal currency is a global, frictionless unit in which transactions are quickly settled, perhaps between anonymous users

That's ideal for organized crime.



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by Migeru (migeru at eurotrib dot com) on Mon Jan 7th, 2013 at 08:36:12 AM EST
[ Parent ]
And indeed, that is the main current use of Bitcoin. Organised crime.
Alongside a few faithful supporters of the system, who try to use if for things like web hosting and other small items.

I say main use for a reason, because the estimate is that most Bitcoins are not being used, but hoarded as the owners hope that the limited number means their value will appreciate.

by Metatone (metatone [a|t] gmail (dot) com) on Mon Jan 7th, 2013 at 12:08:22 PM EST
[ Parent ]
Metatone:
And indeed, that is the main current use of Bitcoin. Organised crime.

That looks reasonable. Has anyone had a look at it or is it just assumed?

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by A swedish kind of death on Mon Jan 7th, 2013 at 02:34:58 PM EST
[ Parent ]
There have been some informal studies, nothing published yet, but by the middle of the year some studies should be out.
by Metatone (metatone [a|t] gmail (dot) com) on Mon Jan 7th, 2013 at 03:19:17 PM EST
[ Parent ]

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