[2017-09-07] What you need to know about the latest bitcoin boom

[bbc.reporter]

This a long article and there is nothing new written in it. But what the article did not mention at all is the importance of the role of the darknet in giving bitcoin its value. The Silk Road was the first market that gave bitcoin the first opening of becoming a circular economy.

Today the whole darknet market has more than tripled in size.



Bitcoin and other crypto-currencies are gradually cementing their stated position – providing a radical new alternative to the investment options that existed before them. But there is no certainty as to how this massive experiment will play out. Though when did that ever stop hopeful investors taking a punt?

Read the full article http://www.bbc.com/capital/story/20170906-what-you-need-to-know-about-the-latest-bitcoin-boom

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[trickyriky]

Actually now darknet rising up another coins like monero or dash.
But we all give super respect to bitcoin for opening new era of human history!!!

[Wekkel]

The more people think Bitcoin is a bubble, the less 'bubble' it will probably prove to be. As long as there are bears, there's no market top yet. I am waiting for the taxi driver to push his 'Taxi Coin' before jumping ship.

Actually, I think the best way is to look at extremes in Bitcoin pricing in its still young past. My thoughts on that are explained further here:
https://bitcointalk.org/index.php?topic=2152743.msg21544197#msg21544197
https://steemit.com/bitcoin/@wekkel/bitcoin-usd5-000-nope-still-no-2013-bubble-yet

[bettercrypto]

As far as I know, bitcoin is being hated in the darknet since it was proven that bitcoin does not offer complete anonymity.  It maybe the factor why bitcoin boom in its early years but that was long passed.    Bitcoin is going to mainstream now, it is not the illegal merchants but rather legit company that wanted to take advantage of the boom making it to boom more. 

[BitHodler]

As far as I know, bitcoin is being hated in the darknet since it was proven that bitcoin does not offer complete anonymity.

Bitcoin was never meant to be an anonymous currency. Back in the days Bitcoin was the only viable crypto to go for since it was the first and most used/accepted one.

People using Bitcoin when trying to settle illegal deals are just delusional. Monero offers everything people need in terms of privacy, and for that reason it makes sense that dark net markets ditch Bitcoin to fully work with Monero.

I understand that Monero by far isn't as popular as Bitcoin, but this transition will eventually lead into less negativity from the media towards Bitcoin, and users of dark net markets to have an anonymous currency to work with.

[Wekkel]

Dark coins like Dash, Monero and DeepOnion (if the DeepSend functionality to be implemented in Q 2017 is good) have a long period of growth ahead of them. Not only in shady deal privacy minded currency is looked for by market participants, but also in normal (legal) life. Not everyone would be fond of his bank account balance is freely available for inspection all the time. On the other hand, it would solve the problem of 'salon socialists' perhaps 

[1Referee]

I understand that Monero by far isn't as popular as Bitcoin, but this transition will eventually lead into less negativity from the media towards Bitcoin, and users of dark net markets to have an anonymous currency to work with.

It something that is being worked on, but it progesses extremely slow. People first had to adapt to making use of Bitcoin, which they thought was ultra anonymous, and now they suddenly need to start thinking about a shift to something they likely never heard of. This switch is something that basically every deep web platform should have done quite some time ago - Monero isn't something new after all. I am sure that if more traditional Bitcoin exchanges start allowing people to trade Monero, that the overall accessibility of this currency will increase significantly. In that regard, the outlook for Monero in the coming years is very positive.

[CryptoBry]

As far as I know, bitcoin is being hated in the darknet since it was proven that bitcoin does not offer complete anonymity.  It maybe the factor why bitcoin boom in its early years but that was long passed.    Bitcoin is going to mainstream now, it is not the illegal merchants but rather legit company that wanted to take advantage of the boom making it to boom more. 

Quite true. When Bitcoin was introduced years ago, there was almost immediate adoption coming from those in the dark web but soon they realized that Bitcoin is not actually offering a complete transaction anonymity as the records can be viewed anytime anywhere...and there is a possibility that the person doing the transactions can be traced. So now they are using Monero as this is offering almost 100% anonymity which is what those in the darkweb can be longing for. And this can be the reason why Monero has just surged in value.

[ScriptYoYo]

As far as I know, bitcoin is being hated in the darknet since it was proven that bitcoin does not offer complete anonymity.  It maybe the factor why bitcoin boom in its early years but that was long passed.    Bitcoin is going to mainstream now, it is not the illegal merchants but rather legit company that wanted to take advantage of the boom making it to boom more. 

Quite true. When Bitcoin was introduced years ago, there was almost immediate adoption coming from those in the dark web but soon they realized that Bitcoin is not actually offering a complete transaction anonymity as the records can be viewed anytime anywhere...and there is a possibility that the person doing the transactions can be traced. So now they are using Monero as this is offering almost 100% anonymity which is what those in the darkweb can be longing for. And this can be the reason why Monero has just surged in value.

I also heard that Monero is a completely anonymous coin. Many analysts say that this coin will become very famous in the future.
But bitcoin also gives us data protection. Although it is proved that he can not provide complete anonymity, all the same to determine the identity of the sending bitcoin, you need to make a lot of effort

[buwaytress]

As far as I know, bitcoin is being hated in the darknet since it was proven that bitcoin does not offer complete anonymity.  It maybe the factor why bitcoin boom in its early years but that was long passed.    Bitcoin is going to mainstream now, it is not the illegal merchants but rather legit company that wanted to take advantage of the boom making it to boom more.  

Not hated perhaps, but they're definitely looking for better options to suit their particular need for secrecy/privacy/anonymity. Monero at least since 2016, and surprise, surprise Ethereum have now displaced Bitcoin as the dark markets' favourite cryptocurrency. See this findings from a blockchain intelligence co:https://www.cnbc.com/2017/08/29/dark-web-finds-bitcoin-increasingly-more-of-a-problem-than-a-help-tries-other-digital-currencies.html

Last year, "illegal transactions" as percentage of total Bitcoin volume dropped from 50% to 20%. $225 million in cybercrime so far, with Ethereum.

[greeklogos]

As far as I know, bitcoin is being hated in the darknet since it was proven that bitcoin does not offer complete anonymity.  It maybe the factor why bitcoin boom in its early years but that was long passed.    Bitcoin is going to mainstream now, it is not the illegal merchants but rather legit company that wanted to take advantage of the boom making it to boom more. 

Yes, bitcoin hasn't an option of total hidden identity, but there is alts which allow it, such as ZCash and Monero, so all transactions where hidden identity is on the first place are providing through this coins. But bitcoin stays also very useful as I know and nobody talking about hate to it.