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  • Only that it’s propped up by illegal activity.

    Well yes. That's the point. You can bank in anything that you can rely on, and you can rely on drug markets making money. "A store of value" is nothing but an investment. And the only reason it became actually reliable and profitable to invest in Bitcoin is because of the drug markets.

    You're pretending like you can't infer things. Like people can't infer things. Do you know what that word means?

    Again, we’re talking exclusively about Bitcoin.

    And had you bothered to read the studies, you'd notice the specify they do as well.

    I can face reality just fine, you just can’t seem to prove your claim.

    Well not to a person who can't face reality, no. Obviously since you can't face reality, you'll decry anything as "not sufficient evidence", because your ego is just too weak for you to ever admit to having been wrong.

    Show me proof that I'm wrong. Oh, wait, you can't, because I'm right and I've proved that and if you research the subject you'll find nothing but data agreeing with me and disagreeing with you.

  • You ve literally no proof for yourself delusions about it being a "store for value", but I've showered you with europol and other statistics showing that TRILLIONS are being used in criminal enterprises.

    Do you know how large a number a trillion is?

    Just because there are some barely valuable pump and dump meme coins doesn't make my original assertion any lesser correct. Having a few hundred million worth is nothing compared to the TRILLIONS in drug money.

    And like I said, it's inherently impossible to quantify a BLACK MARKET, so the data we have is only showing a miniscule proportion of the actual illegal trades and even the best estimates are shown to be extremely conservative.

    You just can't face reality.

    https://www.drugpolicyfacts.org/node/4383

    "Another online survey, based on a convenience sample of more than 100,000 participants in 35 countries worldwide, suggested that the proportion of Internet-using drug consumers who had purchased drugs on the dark web in the previous 12 months had more than doubled between 2014 and 2022, from 4.7 to 10.8 per cent.19 Although plausible, these findings should be interpreted with caution, because they are not based on representative global samples but on convenience samples that are characterized by an overrepresentation of Internet users in Europe, the Americas and Oceania.

    Overlap that with the value of bitcoin. When was it's sharpest rise again?

    Oh my. Looks like reality keeps differing with your delusions, mister "I-won't-accept-being-wrong-no-no-no"

  • You ve literally no proof for yourself delusions about it being a "store for value", but I've showered you with europol and other statistics showing that TRILLIONS are being used in criminal enterprises.

    Do you know how large a number a trillion is?

    Just because there are some barely valuable pump and dump meme coins doesn't make my original assertion any lesser correct. Having a few hundred million worth is nothing compared to the TRILLIONS in drug money.

    And like I said, it's inherently impossible to quantify a BLACK MARKET, so the data we have is only showing a miniscule proportion of the actual illegal trades and even the best estimates are shown to be extremely conservative.

    You just can't face reality.

    https://www.drugpolicyfacts.org/node/4383

    "Another online survey, based on a convenience sample of more than 100,000 participants in 35 countries worldwide, suggested that the proportion of Internet-using drug consumers who had purchased drugs on the dark web in the previous 12 months had more than doubled between 2014 and 2022, from 4.7 to 10.8 per cent.19 Although plausible, these findings should be interpreted with caution, because they are not based on representative global samples but on convenience samples that are characterized by an overrepresentation of Internet users in Europe, the Americas and Oceania.

    Overlap that with the value of bitcoin. When was it's sharpest rise again?

    Oh my. Looks like reality keeps differing with your delusions, mister "I-won't-accept-being-wrong-no-no-no"

  • "It's used as a store of value."

    No-one agrees.

    The "investing" in cryptos is a tiny tiny tiny tiny tiny, but vocal internet population.

    The drug trade however, is literally global and like a third of the entire world take part in it in one way or another. Usually by being the consumers of drugs or by supporting the trade indirectly.

    Like we've stats that about 1% of the global population has an actual drug dependency. But if we're talking just casual use randomly,

    It's right there, black-on-white, just the synthetic drug trade is in the trillions.

    It doesn't matter what you think, if you use Bitcoin as a "store of value", you're indirectly supporting drug cartels because of your delusions and willfull ignorance.

  • Secondly, like I already said, it's irrelevant. Bitcoin is for storing value.

    Like I said, this isn't a debate. It's just you refusing reality.

    Those studied specify bitcoin, but they talk about it as the tech it is. Some memecoins have stock sure, but the most stable and valuable is bitcoin. Why? Because most of it is being actively used for criminal enterprises.

    There wouldn't be any value in bitcoin without drug markets. That's the point. The only reason some wannabe 20's think it's to "store value" is because they can't afford any of the things which actual investors invest in.

    You demand proof from me, yet you don't even offer a rationale to your delusions. Quite hypocritical, no?

    I'd say it's closer to 99.9%, and that's a conservative estimate, in line with data. Where's yours?

    Like some whiny kid said a few comments ago: "source?"

  • No, based on actual data available.

    We only have data for busted markets, which is only a miniscule proportion of the trade being done, yet it still far outweighs any transactions used for legal purposes. Even when stores like growstores accept bitcoin and growers sometimes use their profits (made illegally, from several illegal transactions) to do one transaction which is for legal grow shit. The amount they'll make off that gear will be far greater than the it's cost.

    This isn't a debate. This is you just refusing to accept reality.

    https://syntheticdrugs.unodc.org/syntheticdrugs/en/cybercrime/onlinetrafficking/payment/index.html

    Cryptocurrency emerged in 2008 with the Bitcoin whitepaper as a scientific experiment. In less than ten years, it had become a part of the global financial system with the capitalization of trillions of dollars. To understand more about how cryptocurrencies are used, please see the video below.

    https://www.europol.europa.eu/cms/sites/default/files/documents/Europol%20Spotlight%20-%20Cryptocurrencies%20-%20Tracing%20the%20evolution%20of%20criminal%20finances.pdf

    The criminal use of cryptocurrency is no longer primarily confined to cybercrime activities, but now relates to all types of crime that require the transmission of monetary value. However, the scale and share of the illicit use of cryptocurrencies as part of criminal activities is difficult to estimate

    It's impossible to have specific numbers of a black market, in case you want something even more specific, but despite not being able to pin down specific numbers, it's obvious.

  • But it's not.

    It's an actively used currency. Very actively. There's probably been thousands of transactions in the time we've had this chat.

    It's just that pretty much every single one of those is for drugs or other illegal services, mostly drugs. (I say "pretty much everyone" because there's the offchance that someone has actually used one of those niche stores which accept bitcoin).

    So I've given you plenty of proof.

  • I've bought a ton of drugs with cash. Is cash mostly used for illegal shit?

    What a shit strawman. The illegal drug trade figuring out it could use tor and bitcoin is what made cryptos popular.

    No-one knew shit about them before that. The blockchain was invented in the 90's.

    https://en.m.wikipedia.org/wiki/Silk_Road_(marketplace)

    Between February 2011 and July 2013, the site facilitated sales amounting to 9,519,664 bitcoins

    While nowadays places do accept bitcoin and it could also be used as a every niche currency, in practice, there is no use for it, except purchasing illegal goods and services.

    Because if you actually need something that isn't illegal, why the fuck would you use bitcoin? Because first off, you'd have to find someone who agrees to accept it. Are there any supermarkets where you live which accept bitcoin? Any stores which accept it, period? Perhaps the local headshop/vapestore/other such place run by some weed-worshipping 20-year old might, but seeing how slow it is, that's doubtful either. People take donations on sites in Bitcoin.

    What use does Bitcoin actually have, except for illegal shit?

    It's downright obtuse pretending otherwise. When Bitcoin came out in 2009, it had no users or use cases. Then 2011 Silk Road opens and less than three years later there are official inquiries from states like UK into cryptos, because it started the crypto boom and made Bitcoin actually valuable, because it's used to facilitate drug deals, which are worth actual money.

    So because it has a base value of the trading going on in the marketplaces, investors started just buying it because it was a very good investment. But people don't buy it to use as currency — unless they plan on buying something illegal.

  • Source for what? For my personal experiences? For me having purchased drugs?

    Or the amount of marketplaces, interactions in the marketplaces, and their values?

    We can't quantify the size of the illegal drug trade, but it's in the hundreds of billions, if not trillions.

    Hell, if only any of those marketplaces were open anymore, I'd have had probably now worth thousands in Bitcoin because a portion of them remained after my shopping. I didn't have a local Bitcoin wallet, the stores had wallets you'd transfer into.

    But yeah they switch so often, after either cutting and running or being caught.

    But yeah, that's what made Bitcoin a bit more mainstream, but the value radically shot up once people began seeing it as something worth investing in, since the value was growing relatively fast even without there being investors.

    I don't know what you're asking a source for, exactly.

    With a world GDP of US$78 trillion in the same year, the illegal drug trade may be estimated as nearly 1% of total global trade.

    https://en.m.wikipedia.org/wiki/Illegal_drug_trade

    And those are honestly very conservative (and bad) guesses. Of course it's much larger. You can see if you google it, none of the guesses are even similar to each other, lol.

    Also, remember there's a hugely popular show called "how to sell drugs online - fast" or smth. It's just everywhere. But people pretend it isn't. It's fascinating to me, the willfull ignorance.

    We have to legalise all drugs to actually get them under regulation.

  • You know the story about the Somali pirate stock market?

    Think that, but times 1000.

    Bitcoin is mostly used for illegal shit. Mostly drug trades, but anything else criminal as well. Want to buy guns, whores, even a hitman? Bitcoin.

    The drug trade basically created the value for Bitcoin. And then the traders who already had lots of it when people began hyping Bitcoin became richer and richer.

    Which annoys me a whole fucking ton, because at one point I had over 120 Bitcoin in my possession. Should've saved at least one and I wouldn't be in this problem. Well, honestly, I would, because I'd have probably sold it at 500 or something.

    Back when I had then they were worth 1e a piece. Ordered me some drugs, so I never bought them as an investment, just as currency.

    Tldr Anyway yeah investing in Bitcoin is essentially funding drug cartels.

  • so I can now put my spicy pillows in the oven and tell the insurance men the internet told me to?

  • It very much is.

    You're pretending like your religion isn't hateful, stupid and full of contradictions.

    It is.

    I don't care that you're trolling.

    https://en.m.wikipedia.org/wiki/Criticism_of_monotheism

    The intolerance of narrow monotheism is written in letters of blood across the history of man from the time when first the tribes of Israel burst into the land of Canaan. The worshippers of the one jealous God are egged on to aggressive wars against people of alien [beliefs and cultures]. They invoke divine sanction for the cruelties inflicted on the conquered. The spirit of old Israel is inherited by Christianity and Islam, and it might not be unreasonable to suggest that it would have been better for Western civilization if Greece had moulded it on this question rather than Palestine."

  • No if you know they're gonna have to check, then you've worked for your cousin Randy at his placeofbusiness doing menialchore related to the industry.

    You can confirm this by calling Mr Randolphius McGillecuddy, Esq.

  • What gap?

    I've not been unemployed, I've been under a strict NDA for a very private employer. No, I'm not allowed their share their contact information. Sorry.

  • Permanently Deleted

    Jump
  • "Why has no action been taken? "

    Capitalism; greed and lack of empathy.