[2016-06-30] bitscan.com| What is bitcoin used for?

[eye4bd]

What is bitcoin used for?

A new report suggests the chief application for bitcoin is currently online gambling.

Bitcoin has always had a murky past. It first came to proper mainstream attention thanks to the efforts of one Ross Ulbricht, who adopted it as his currency of choice for his online emporium of magical substances, known as the Silk Road. Ulbricht built bitcoin into his drug marketplace because it was ideally suited to the job: it could be used anonymously, and transactions were both speedy and irreversible (avoiding the problems of merchants being hit with chargebacks and being forced to put in support calls to PayPal - an insult no drug dealer should be forced to endure)....

http://bitscan.com/articles/what-is-bitcoin-used-for

[Gohs]

Well, I think it's time other online services started using bitcoins.

[eye4bd]

Hi,
Yes, that sould be happen. And i'm very much confident about bitcoin advantages based on making payment for anything! It will leads bitcoin evey possible sector of online purchase.
Hopefully, soon we will got opportunity to pay with bitcoin for every online purchasing!

Thanks!

[InvoKing]

"50-60% of bitcoin transactions are now made in the context of gambling"
-> expected

"around 0.5% of bitcoin transactions were used to buy drugs"
-> someone said that btc is used for illegal activities? This is nothing comparing to USD

"another major use case for bitcoin is purchasing computer hardware and hosting services
significant proportion of bitcoin holders engaging in trading for profit"
Better to give more precision