Watch the world currencies flow into BTC in realtime
fiatleak.com
fiatleak.com
Some are wondering about the lack of activity in certain regions: There is trading activity in these areas.
Disclaimer: Former exchange operator
All the major cryptocurrency exchanges have open APIs that offer access to completed USD/BTC exchanges- Of course there's gaps in the information, why would anyone expect otherwise?
"Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day's financial news as he worked with rag and polish. An old beggar who regularly patrolled the street in front of my office now gave me tips and, I suppose, spent the money I and others gave him in the market. My cook had a brokerage account and followed the ticker closely. Her paper profits were quickly blown away in the gale of 1929."
Yeah. Well.
Funny thing about "bubbles", they're usually reliably identified only after-the-fact...
It argues that cash, precious metals, and alternative currencies should be done away with and that we should all become dependent on digital bank accounts controlled and monitored by the government- That way, if a bureaucrat is confused by any transaction you are doing they are free to just freeze all your funds at a moment's notice.
Hope you enjoy living in that world!
> So what is all that cash being used for? The answer is simple: a large part is feeding tax evasion, corruption, terrorism, the drug trade, human trafficking, and the rest of a massive global underground economy.
Don't expect me to be automatically convinced that tax evasion and corruption are making me poorer and less safe. Tax evasion makes everyone except the government richer and corruption makes it possible to buy freedom (such as in countries with drafting).
States may profit from trade restrictions individually, but if everyone restricts trade of whatever he wants, world is just driven into Nash equilibrium, where everyone is poorer than without restrictions. Corruption makes it possible to bypass these restrictions by bribing the customs. So corruption also makes us richer.
Oh, really? The alternative to modern taxation is not no taxation, but rather massive taxation where it's hard to evade (for example customs) of the kind we had in the middle ages. While we can come up with arguments for and against this, there is a strong positive correlation between tax evasion and poverty, which means that the burden of proof lies on you.
>So corruption also makes us richer
So, would you say that the music industry's lobbying in Washington makes the US richer? Corruption is the mechanism by which established players stack the deck against newcomers, avoid environmental and health regulation and so on and so forth.
Listen, governments make the world go round. Countries with bad governments become poor. Countries with good governments become rich.
The way to beat bitcoin, if you're a state, is to control it. For example the US government confiscated from DPR something like 7% of all BTC that will ever exist. China's mining facilities happen to control a large portion of the network's hashing power. The NSA has undoubtedly studied ways to DDoS the network. Etc.