Nominate USD as the new "drug currency"

[madmadmax]

Now whether someone mentions BTC there is always that guy "Oh you mean the currency they use to buy drugs online?", it has always made me cringe a little on the inside because we all know that every single terrorist attack, every single assassination and pretty much every single drug deal is made in USD.

Now one banker could argue oh but there are plenty of legit uses for USD and none for BTC except the buying of drugs, there is really no reason for the average Joe to purchase BTC except to buy weed in on the black market.

Well we know the total amount of USD currency which is issued, it currently stands at 6 trillion (6,000,000,000,000) and we have a more or less accurate figure for the whole black market worth the majority of which we know is being conducted in USD, the figure stands at 1.785 trillion (1,785,000,000,000 http://www.havocscope.com/market-value/).

Now both of these figures are rather inaccurate and are probably higher as one cannot accurately estimate the whole USD black market but we know that those are incredibly high figures as full cities are built in the U.S. and in South America just using the coke money.

The total Bitcoin worth is 8 billion (8,000,000,000 https://blockchain.info/charts/market-cap) that we know, now the real problem is in acquiring the worth of the Bitcoin black market as there are no estimates but a quick look at the deep net brings us to believe that virtually no arms, weapons, explosives or human organs are traded using BTC (at least not nearly on as wide of scale like in USD as this is not easily accessible). Using the calculated worth of the most popular marketplace Silkroad 2.0 we can estimate the total worth of the Bitcoin black market at 100 million (100,000,000) based on the popularity of the other 20 less popular marketplaces.

This brings us to the final results, 29.75%, nearly a third of the whole USD economy is black market, 1.25% of the Bitcoin economy is the Bitcoin black market.

In regards to the market USD is being used 23.8 times more frequently in the black market than Bitcoins. USD is the new drug money!

[amspir]

As long as the legal uses of bitcoin out perform some jurisdiction's illegal use, I think the an initial shady perception of bitcoin will help adoption.

When Nancy Reagan said "Just Say No", do you think ILLEGAL drug usage went up or down?

The statists (the people that put the Patriot Act/KYC/FineCEN regulations into effect) will make the same arguments to regulate bitcoin as they do cold hard cash.

[bananas]

you can't be serious, bitcoin does not have an economy out of black maket...speculation is not economy.

but to be fair with now have a little bit on overstock.com

[madmadmax]

you can't be serious, bitcoin does not have an economy out of black maket...speculation is not economy.

but to be fair with now have a little bit on overstock.com

I buy Bitcoins on a regular basis and never use drugs, I run by my body is my temple logic and rarely get drunk or smoke weed (when I am in a state where it is legal and the opportunity presents itself).

I buy servers, pay freelancers, buy clothes and plenty of alpaca socks, my latest purchase is a golden watch.

Plus how can you prove that most people don't hold USD for speculation?

[bananas]

you can't be serious, bitcoin does not have an economy out of black maket...speculation is not economy.

but to be fair with now have a little bit on overstock.com

I buy Bitcoins on a regular basis and never use drugs, I run by my body is my temple logic and rarely get drunk or smoke weed (when I am in a state where it is legal and the opportunity presents itself).

I buy servers, pay freelancers, buy clothes and plenty of alpaca socks, my latest purchase is a golden watch.

Plus how can you prove that most people don't hold USD for speculation?

They don't, it is historically not profitable. Have you ever seen a bank offering na investment fund based on currencies? I don't. There is a lot on hold as a store of value, something bitcoin can't offer.

[Sheldor333]

They are worried because it's easier to get away with it. That is the way I see it at least. Even though I don't consider it to be only drug money.

[madmadmax]

you can't be serious, bitcoin does not have an economy out of black maket...speculation is not economy.

but to be fair with now have a little bit on overstock.com

I buy Bitcoins on a regular basis and never use drugs, I run by my body is my temple logic and rarely get drunk or smoke weed (when I am in a state where it is legal and the opportunity presents itself).

I buy servers, pay freelancers, buy clothes and plenty of alpaca socks, my latest purchase is a golden watch.

Plus how can you prove that most people don't hold USD for speculation?

They don't, it is historically not profitable. There is a lot on hold as a store of value, something bitcoin can't offer.

Neither Bitcoin nor USD is a good store of value, they have golden coins that were minted 2,000 years ago that are worth more today than what they were originally worth.

The least risky commodity to store wealth in has always been Gold.

Now when we compare USD and BTC as currencies BTC is far superior to USD.

If you would ask me what monetary system I would bet my money on to exist in 2,000 years my choice would obviously be BTC but I fail to see how speculation value is someone less valuable than purchasing value both of which USD has less as a clearly inferior monetary system.

[bananas]

you can't be serious, bitcoin does not have an economy out of black maket...speculation is not economy.

but to be fair with now have a little bit on overstock.com

I buy Bitcoins on a regular basis and never use drugs, I run by my body is my temple logic and rarely get drunk or smoke weed (when I am in a state where it is legal and the opportunity presents itself).

I buy servers, pay freelancers, buy clothes and plenty of alpaca socks, my latest purchase is a golden watch.

Plus how can you prove that most people don't hold USD for speculation?

They don't, it is historically not profitable. There is a lot on hold as a store of value, something bitcoin can't offer.

Neither Bitcoin nor USD is a good store of value, they have golden coins that were minted 2,000 years ago that are worth more today than what they were originally worth.

USD is a great store of value, historically it is very stable and keep value against other currencies. The only issue is that in the long term it won't hold against inflation which is can be seen as a benefit, an incentive for the biggest holders to throw the money in the economy.

[CurbsideProphet]

OP,

You can also mention to these people the percentage of dollars that have traces of cocaine on them.  I believe the figure is above 90%.  A quick google would give you the exact percentage.

[madmadmax]

OP,

You can also mention to these people the percentage of dollars that have traces of cocaine on them.  I believe the figure is above 90%.  A quick google would give you the exact percentage.

This is also a good point that I wanted to include in the initial post. Most people believe it to be a myth for some reason though and will probably look at you like you're the dumbass if you mention it.

[thresher]

Message from the US government:

We would just like to remind everyone from the drug cartels, to the lowly crack dealer in Europe that all sales must be conducted in USD or they are invalid.  Guns, drugs, slaves, stolen goods, will only be accepted in US currency.   We thank you for never accepting any form of payment other than US currency, and value your commitment.   

Thank you op for exposing this truth to all of us.   

OP,

You can also mention to these people the percentage of dollars that have traces of cocaine on them.  I believe the figure is above 90%.  A quick google would give you the exact percentage.

Think about how many usd are in circulation, vs how many people have used coke in the US and you will see the bs behind this.  Also, if any of you people actually ever have seen a cocaine user before, you would know that the users don't stick dirty bills up their nose and then hand it to someone, that is what movies, first time users, and the media portray.

How did they test that anyways?  A statistically significant sample size to test enough us currency in circulation would cost millions if not billions of dollars to discover that bills have coke on them.  That is what we should invest in.  Fuck bitcoin everyone wants to know how much coke is on a usd. 
Well since its been done with coke, who wants to invest in my study to discover how many usd have been touched by strippers tits?  I guarantee your return investment to be a statement I completely make up    
 

[Carl Quesadilla]

LSD is on your finger prints as we speak 

[verdun2003]

[/quote]

USD is a great store of value, historically it is very stable and keep value against other currencies. The only issue is that in the long term it won't hold against inflation which is can be seen as a benefit, an incentive for the biggest holders to throw the money in the economy.
[/quote]

Are you serious? Look at this chart:
http://www.google.fr/imgres?espv=210&es_sm=93&biw=1397&bih=674&tbm=isch&tbnid=N4yHjKWEkf-FeM%3A&imgrefurl=http%3A%2F%2Fthefinancialphysician.com%2F2013%2F09%2Ffed-will-get-its-inflation-heres-who-will-pay%2F&docid=cpUTpEkYeghTIM&imgurl=http%3A%2F%2Fthefinancialphysician.com%2Fwp-content%2Fuploads%2F2013%2F09%2Fusd-inflation.jpg&w=580&h=417&ei=pm4jU7WnIsi00QWftIDQCw&zoom=1&iact=rc&dur=226&page=1&start=0&ndsp=15&ved=0CF4QrQMwAw

[Carl Quesadilla]

where's the chart of value?  a straight line?  your a fucking genious
get real fool
i'm a male
and i'm real too!!!

[Bit_Happy]

I've never used BTC for anything illegal.
As the fiat money collapses BTC will gain more credibility.

[Carl Quesadilla]

I've never used BTC for anything illegal.
As the fiat money collapses BTC will gain more credibility.

me neither.  never used BTC for buying child pornography.  it doesn't wortk that way

it is tored on btmon.com
and is only give out to searchtain bpeoplasds
dds
like me

[Beliathon]

"new" drug currencY?

I've been using USD to buy drugs for 15 fucking years.

[madmadmax]

Message from the US government:

We would just like to remind everyone from the drug cartels, to the lowly crack dealer in Europe that all sales must be conducted in USD or they are invalid.  Guns, drugs, slaves, stolen goods, will only be accepted in US currency.   We thank you for never accepting any form of payment other than US currency, and value your commitment.   

Thank you op for exposing this truth to all of us.   

OP,

You can also mention to these people the percentage of dollars that have traces of cocaine on them.  I believe the figure is above 90%.  A quick google would give you the exact percentage.

Think about how many usd are in circulation, vs how many people have used coke in the US and you will see the bs behind this.  Also, if any of you people actually ever have seen a cocaine user before, you would know that the users don't stick dirty bills up their nose and then hand it to someone, that is what movies, first time users, and the media portray.

How did they test that anyways?  A statistically significant sample size to test enough us currency in circulation would cost millions if not billions of dollars to discover that bills have coke on them.  That is what we should invest in.  Fuck bitcoin everyone wants to know how much coke is on a usd. 
Well since its been done with coke, who wants to invest in my study to discover how many usd have been touched by strippers tits?  I guarantee your return investment to be a statement I completely make up    
 

The problem occurs when a single person uses a bill to snort coke and then give it to the bank, even if you put a single cocaine contaminated bill into a machine that counts bills it will spread to every single bill out there since cocaine is a very thin powder, same thing with any machine that comes in contact with bills like bank atms.

[thresher]

[/quote]

The problem occurs when a single person uses a bill to snort coke and then give it to the bank, even if you put a single cocaine contaminated bill into a machine that counts bills it will spread to every single bill out there since cocaine is a very thin powder, same thing with any machine that comes in contact with bills like bank atms.
[/quote]

I get the theory behind that, but I still do not see it working, as well as how can they test that.  I will coincide though since I cannot disprove that either as I have no access to some of the testing materials 

"new" drug currencY?

I've been using USD to buy drugs for 15 fucking years.

Lmao

[bananas]

Man, that's just inflation over 100 years. A whole century, on saving account it would not look as bad.

USD is a great store of value, historically it is very stable and keep value against other currencies. The only issue is that in the long term it won't hold against inflation which is can be seen as a benefit, an incentive for the biggest holders to throw the money in the economy.
[/quote]

Are you serious? Look at this chart:
http://www.google.fr/imgres?espv=210&es_sm=93&biw=1397&bih=674&tbm=isch&tbnid=N4yHjKWEkf-FeM%3A&imgrefurl=http%3A%2F%2Fthefinancialphysician.com%2F2013%2F09%2Ffed-will-get-its-inflation-heres-who-will-pay%2F&docid=cpUTpEkYeghTIM&imgurl=http%3A%2F%2Fthefinancialphysician.com%2Fwp-content%2Fuploads%2F2013%2F09%2Fusd-inflation.jpg&w=580&h=417&ei=pm4jU7WnIsi00QWftIDQCw&zoom=1&iact=rc&dur=226&page=1&start=0&ndsp=15&ved=0CF4QrQMwAw
[/quote]