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0 pointszhengyi139y ago0 comments

I don't have data to back a disagreement, but I'd be interested in what data you'd show to back your assertion that the money's in theft and extortion?

In particular, I'd wonder what the cashflow behind dark drug markets looks like in comparison (not that I think that should be illegal, and yes, I accept that any data there would have to be estimates at best)

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vkou9y ago

Extortion in the form of ransom-ware, theft in the form of stealing bitcoin from exchanges. (Mt. Gox, and a more recent case.)

Legitimate businesses in the bitcoin space make small margins on each trade/transaction/etc. (Drug dealers are obviously a little different, but they are in the business of unlicensed pharmaceuticals, not the business of Bitcoin.)

Thieves, on the other hand, will take the whole thing, and run.

thingexplainer9y ago

> Extortion in the form of ransom-ware, theft in the form of stealing bitcoin from exchanges. (Mt. Gox, and a more recent case.)

This is exactly what I meant. I guess I could have been more clear about that.

I don't have any data to back the assertion, and honestly I kind of forgot the markets were still extant, I just happen to know that people are making millions in illicit profits from these two methods, and I've never heard of a successful preminer (which was how I interpreted "Ponzi scheme") other than Mr. Nakamoto.

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