The entire crypto sector is fraudulent and hidden behind layers of nonsensical theory.
What started as a way to anonymously pay for illegal services on the dark net, morphed into a Ponzi scheme aimed at low IQ tech bros.
What started as a way to anonymously pay for illegal services on the dark net, morphed into a Ponzi scheme aimed at low IQ tech bros.
That was never the point of Bitcoin. Read the whitepaper. Satoshi wanted to decentralize trust in the ecommerce world with the help of transparent P2P decentralized and distributed database called blockchain and he wanted to enable micropayments. There is no mention of buying drugs or any other illicit activities in the whitepaper.
Even in a charitable interpretation of history-- ignoring that Bitcoin wouldn't scale to micropayment levels-- any early interest in micropayments was quickly overwhelmed by speculation and illegal trade.
I think Dogecoin tips on Reddit circa 2014 are about as close as we ever got to viable crypto micropayments, and ISTR it was done off-chain by putting a balance in a bot.
After all this years you guys are still getting it wrong; using Bitcoin is not about running away from your real world identity where you would freely be able to buy illicit goods and services. It is about decentralizing trust; giving the people the control of their money and it is about micropayments.
In today world of central banks, commercial banks and credit card companies like Visa and Mastercard, you depend on them to process your transactions but in the Bitcoin type system, P2P network nodes process your transactions.
Banal example is when Visa and Mastercard mangle and eventually ban Porn related transactions. In the Bitcoin world, mining nodes collect the fees and don't care what you pay for. State decides what is legal and what is illegal not credit card companies who act upon their gut feeling of what transactions are "bad" and which ones are "good".