Comments on: I’m Scared of BitCoin http://www.rnningfool.com/23521/im-scared-of-bitcoin Burning Money Mon, 22 May 2017 20:01:13 +0000 hourly 1 https://wordpress.org/?v=6.8.5 By: sastortz http://www.rnningfool.com/23521/im-scared-of-bitcoin#comment-10788 Mon, 22 May 2017 20:01:13 +0000 http://www.rnningfool.com/?p=23521#comment-10788 My capstone is college was international currency, and one of the discussions we had was why physical currency exists at all anymore. Cash (and presumably Bitcoin as the guy noted) is more or less untraceable and there will always be a black market. You wouldn’t buy cocaine with a credit card, you’d always use cash (or apparently Bitcoin). When you start getting into the “deep web”, cash is harder to transact, so something like Bitcoin is ideal for someone trying to buy a sex slave or illegal weapons from different countries. I don’t know what % of Bitcoin transactions involve illegal goods, but I’d imagine it’s a much much higher % than the number of cash transactions that do.

I guess my point is, I think Bitcoin has its place and will only grow (marginally) in popularity as people become more comfortable / familiar with it, but the average person has absolutely no need for it.

I could be completely wrong about everything I just wrote, but that’s what I’ve gathered.

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