Este Nuno
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amarha
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August 05, 2014, 07:57:53 PM |
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Illegal use of USD affecting its value?
Yes, it creates more demand for USD driving the price up.  |
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jump4ever
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August 05, 2014, 07:58:03 PM |
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Back with Silkroad V1 it did affect bitcoin but now it doesn't.
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wachtwoord
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Activity: 2324
Merit: 1125
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August 06, 2014, 09:30:22 AM |
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Illegal use of USD affecting its value?
Yes, it creates more demand for USD driving the price up. Exactly! Same is true for anything of course. |
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tee-rex
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August 06, 2014, 10:51:43 AM |
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Illegal use of USD affecting its value?
Yes, it creates more demand for USD driving the price up. Exactly! Same is true for anything of course. So illegal use of Bitcoin does after all drive its exchange value up?  |
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wachtwoord
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Activity: 2324
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August 06, 2014, 10:54:18 AM |
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Illegal use of USD affecting its value?
Yes, it creates more demand for USD driving the price up. Exactly! Same is true for anything of course. So illegal use of Bitcoin does after all drive its exchange value up? Utility of anything drives it's value up as it it increases it's (potential) usefulness. |
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tee-rex
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August 06, 2014, 10:56:53 AM |
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Illegal use of USD affecting its value?
Yes, it creates more demand for USD driving the price up. Exactly! Same is true for anything of course. So illegal use of Bitcoin does after all drive its exchange value up? Utility of anything drives it's value up as it it increases it's (potential) usefulness. Yes, but this is just one side of the coin, right? What if this utility is banned? Things suddenly become rather complicated, don't they? |
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wachtwoord
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Activity: 2324
Merit: 1125
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August 06, 2014, 11:05:04 AM |
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Illegal use of USD affecting its value?
Yes, it creates more demand for USD driving the price up. Exactly! Same is true for anything of course. So illegal use of Bitcoin does after all drive its exchange value up? Utility of anything drives it's value up as it it increases it's (potential) usefulness. Yes, but this is just one side of the coin, right? What if this utility is banned? Things suddenly become rather complicated, don't they? Only if the banning takes away the utility. If the US bans breathing out tomorrow I doubt anyone in the US will be holding their breath indefinitely. |
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tee-rex
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August 06, 2014, 12:16:52 PM
Last edit: August 06, 2014, 12:29:59 PM by tee-rex |
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Illegal use of USD affecting its value?
Yes, it creates more demand for USD driving the price up. Exactly! Same is true for anything of course. So illegal use of Bitcoin does after all drive its exchange value up? Utility of anything drives it's value up as it it increases it's (potential) usefulness. Yes, but this is just one side of the coin, right? What if this utility is banned? Things suddenly become rather complicated, don't they? Only if the banning takes away the utility. If the US bans breathing out tomorrow I doubt anyone in the US will be holding their breath indefinitely. Bitcoin allows you to get access to many things, some of them obviously being illegal. Since it has a competitive edge before fiat in reaching illegal things (less risk being caught and whatnot), this presumably adds up to its utility. So the only way to prevent this is to ban Bitcoin? |
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bitsmichel
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August 06, 2014, 12:57:49 PM |
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Has the use of Bitcoin for illegal things such as purchasing drugs, weapons, fraudulent documents and laundering money effected its value?
A few years ago this was the case, but these days BTC is used for so many legit purposes that it doesn't really matter. I think most of the value these days is determined by the supply/demand. |
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Feneusens
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August 06, 2014, 01:32:45 PM |
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Illegal use of bitcoin will not affect its value but the news often highlight that Bitcoin is the problem. Thats what causing the value to drop...
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lucaspm98
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August 06, 2014, 01:32:56 PM |
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It could give it bad press and hurt it in the short term, but in the long run there is nothing that can stop it. The same reasons it is great for criminals are the reasons its good for the average user.
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oceans
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August 06, 2014, 02:25:02 PM |
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All currencies are being used for illegal purchasing which is quite common and that has never affected any other currencies so I do not believe that if bitcoin is being used for illegal purchases it will affect it's value no. You are going to get illegal purchases with all currencies just because this is a new currency just starting out does not mean to say it's going to be affected.
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DannyElfman
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August 06, 2014, 02:27:10 PM |
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Remember that the bitcoin drug trade started it all. Don't forget where we came from.  Not really, They only were the first to discover some advantages. I am the firm beleiver that Bitcoin would have been successful either way! |
This spot for rent.
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polynesia
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Activity: 1358
Merit: 1000
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August 06, 2014, 05:51:25 PM |
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Remember that the bitcoin drug trade started it all. Don't forget where we came from. Not really, They only were the first to discover some advantages. I am the firm beleiver that Bitcoin would have been successful either way! Might have taken more time, but yes, it would have been successful. |
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counter
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August 06, 2014, 06:30:32 PM |
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It's funny how some people complain the only thing that gives Bitcoin value is it's use for illegal tranactions. Now their complaints are the the illegal usage of Bitcoin is having a negative impact on the price of Bitcoin. You just can't win but I do like how fudsters spread fud in the form of a question these days..  |
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DannyElfman
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August 06, 2014, 06:37:34 PM |
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It's funny how some people complain the only thing that gives Bitcoin value is it's use for illegal tranactions. Now their complaints are the the illegal usage of Bitcoin is having a negative impact on the price of Bitcoin. You just can't win but I do like how fudsters spread fud in the form of a question these days.. There is no winning with trolls. Best would be to just ignore them, but many simpler minded newbies take their words for granted. Sadly |
This spot for rent.
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Ayers
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Merit: 1024
Vave.com - Crypto Casino
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August 06, 2014, 06:38:05 PM |
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it's actually one of the things that give btc value, but without big company like google/facebook/youtube/amazon i don't think btc can't go that far
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magcoin-crypto
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Activity: 14
Merit: 0
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August 06, 2014, 07:06:31 PM |
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Right that since transacting in BTC is anonymous, it can be used by the bad guys on its maximum.  Well, it's considered to be *pretty* anonymous. Given some work, and enough people, it's still quite possible to trace a transaction back (even if you use multiple addresses). Blockchain sleuthing is something one of my friend likes to do in his spare time, actually o_o |
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Bogleg
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August 06, 2014, 09:25:34 PM |
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Right that since transacting in BTC is anonymous, it can be used by the bad guys on its maximum. Well, it's considered to be *pretty* anonymous. Given some work, and enough people, it's still quite possible to trace a transaction back (even if you use multiple addresses). Blockchain sleuthing is something one of my friend likes to do in his spare time, actually o_o It is very easy for NSA and FBI to find out your identity if you do doggy thing with bitcoin. |
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DannyElfman
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August 06, 2014, 09:28:27 PM |
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Right that since transacting in BTC is anonymous, it can be used by the bad guys on its maximum. Well, it's considered to be *pretty* anonymous. Given some work, and enough people, it's still quite possible to trace a transaction back (even if you use multiple addresses). Blockchain sleuthing is something one of my friend likes to do in his spare time, actually o_o It is very easy for NSA and FBI to find out your identity if you do doggy thing with bitcoin. If you make mistakes yes. But I bet most people are not caught because they trace transactions, rather they make mistakes by posting info on the internet. DPR was caught that way too! |
This spot for rent.
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