[2019-01-31]Bear Market did not Prevent Users From Engaging Themselves in Darkne

[Vladdirescu87]

Bear Market did not Prevent Users From Engaging Themselves in Darknet

Prices were falling all last year but this fact didn’t prevent people from conducting transactions on the darknet. Moreover, reliable sources claim that the number of bitcoin payments on darknet by the end of 2018 doubled since the beginning of the year. At the end of last year transactions on the darknet performed with Bitcoin reached roughly $2 million per day. It is interesting to note, that this number was twice as small at the beginning of 2018.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bear-market-darknet/

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[hatshepsut93]

Why would a bear market prevent darknet users from using crypto? They're just using it as a proxy most of the time, it's not like they have to buy and hodl it for any reason. Also, they don't have much choice, I've never been to darknet markets myself, but I don't think there's anything as convenient and safe as cryptocurrency for their purposes.

[bbc.reporter]

@hatshepsut93. Agreed. Also addicts like to hodl the drugs, not the bitcoins hehehe.

In any case, with regards to darknet safety, the darknet users should use Monero to secure their privacy. They do not want their transactions made on a blockchain that everyone can follow and analyze. It might put themselves in trouble later.

[Kakmakr]

The logic behind this makes no sense. Why would a Bear market influence the use on the DarkNet? Those people want a anonymous payment option and they are willing to pay for that option. Most of them do not even use Bitcoin, because Bitcoin is not 100% anonymous.

A lot of them are using Monero and Zcash and Dash for this, because it is better for anonymous transactions like this. Source : https://bitcoinexchangeguide.com/top-privacy-coins-for-making-anonymous-cryptocurrency-payments/

Another FUD article to bash Bitcoin. 

[BitHodler]

In any case, with regards to darknet safety, the darknet users should use Monero to secure their privacy. They do not want their transactions made on a blockchain that everyone can follow and analyze. It might put themselves in trouble later.

I haven't ever used a dark net market, but couldn't it be that vendors have the freedom to choose whatever currency they accept as payment option? If that's the case, then it might be that they prefer Bitcoin over XMR.

If the vendors you buy from prefer Bitcoin as payment, then people don't have much of a choice but to use Bitcoin. If it was something the market itself decided, then they are way better off using solely XMR or other privacy coins.

At the end of the day, Bitcoin has the biggest network effect, brand recognition, acceptance, and so forth. That apparently is reason enough for people to keep using Bitcoin and sellers to keep accepting it.

[bbc.reporter]

@BitHodler. That was what I was trying to say. If the darknet vendors' preference is only bitcoin, I reckon he might be putting all his customers at risk later. This will also negatively affect his business.

Also, adding Monero costs darknet drug dealers nothing and this might expand their customer base.