undefined | Better HN

0 pointsuoylj6y ago0 comments

A secure global ledger does have value though. At least it does to lots of people.

0 comments

4 comments · 1 top-level

_ph_6y ago· 3 in thread

Yes, Bitcoin seems to be popular in the trade of illegal goods and for paying ransomware. Doesn't exactly explain why most other people invest so much into Bitcoin. And the security is very dubious, considering the track record of Bitcoin exchanges.

keymone6y ago

sigh, how this is still an argument?

try going a step further and ask yourself why is bitcoin "popular in the trade of illegal goods and for paying ransomware".

hint: there's a thing that is even more "popular in the trade of illegal goods and for paying ransomware" - cash.

hopefully it's enough of a nudge in the right direction.

mirimir6y ago

People have wanted an online cash equivalent for decades. It's a privacy thing. "Illegal" means whatever authoritarian jerks want it to, so we can ignore that.

Ransomware obviously uses Bitcoin because it's reliable, and can be anonymized. And people use Tor for child porn and "illegal" drugs because it's secure and ~anonymous. They're popular because they work. And in a way, they're canaries for decent privacy lovers.

_ph_6y ago

Sorry, thats just a strawman. Bitcoin enables sending money over the internet off official channels. You are not going to pay for ransomware with your credit card.

1 more reply

j / k navigate · click thread line to collapse