Has there ever been made an objective analysis of the factors behind the value of BTC?
Interesting thing to know would be just what percentage of BTC value is driven by:
- criminal enterprises, such as those who are cashing out stolen credit cards and compromised pay pal accounts into the BTC
- people using BTC to obtain illegal items, like drugs, arms, and counterfeits
- all varieties of scams/cons
- absurdities like Vanuatu citizenship, potentially also possible to (miss)use for illegal enterprises
- legal retail in shops, grocery stores, gas pumps, hotels, investments, travel...
- speculation, obsession with quick profit, and complete disregard from actually ever branching away from fiat money
Side note: the credit card fraud losses for 2016, globally, are estimated at $21.84 Billion, annual global drugs trade is worth around $435 billion a year.