I think so, and interestingly enough there are rumblings too in the bitcoin community of an impending collapse in bitcoin. They could both go together.
Not necessarily. I use bitcoin to buy my weed and contrary to speculators, I actually use it: buy the BTC, and immediately spend it. How much it's worth in real money is irrelevant, since you don't actually hold it for more than a few hours. If anything, less speculation would benefit drug users in terms of transaction fees. Cryptocurrencies in general are still bad due to mining/their ecological impact, mind you (and proof of stake just doesn't work).
Users? Not so much, we always spent that shit super fucking fast, no one wantd to keep any btc on hand if they have any amount of experience with how fast you can loose money both from the actual btc market and DNM exit scams stealing your shit.
Dealers though? Not sure, can't speak for anyone, but when I was following the DNM stuff quite a few years back, it was my understanding that most dealers cashed out their btc hella fast because the market back then was extremely volatile (like ~$150 drop in value in a matter of hours randomly.) Probably the old heads wash theirs fast cause they'd be extra fucked if they loose money on their own products, which can cause some serious problems depending on how their operation is setup.
Perhaps they hold on to it longer now but for the most part they still likely deal in cash for their supplier too
It's harder and harder to find ways to wash it. The feds are all over it now, it's not as anonymous and mysterious as it was back in the day, they can trace the blockchain for sure, but to what extent we don't know. They withheld so much shit on a lot their court cases, because they didnt want to prove how they track even the biggest time people. I haven't followed it in ages now, but I know for a time, to wash the cut was over 30%, so they likely didn't want to take any chances letting btc dip in price while holding cause the margins get thin
I think so, and interestingly enough there are rumblings too in the bitcoin community of an impending collapse in bitcoin. They could both go together.
it would be so cool if (assuming there must be a crash) it began with bitcoin traders
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Not necessarily. I use bitcoin to buy my weed and contrary to speculators, I actually use it: buy the BTC, and immediately spend it. How much it's worth in real money is irrelevant, since you don't actually hold it for more than a few hours. If anything, less speculation would benefit drug users in terms of transaction fees. Cryptocurrencies in general are still bad due to mining/their ecological impact, mind you (and proof of stake just doesn't work).
Users? Not so much, we always spent that shit super fucking fast, no one wantd to keep any btc on hand if they have any amount of experience with how fast you can loose money both from the actual btc market and DNM exit scams stealing your shit.
Dealers though? Not sure, can't speak for anyone, but when I was following the DNM stuff quite a few years back, it was my understanding that most dealers cashed out their btc hella fast because the market back then was extremely volatile (like ~$150 drop in value in a matter of hours randomly.) Probably the old heads wash theirs fast cause they'd be extra fucked if they loose money on their own products, which can cause some serious problems depending on how their operation is setup.
Perhaps they hold on to it longer now but for the most part they still likely deal in cash for their supplier too
deleted by creator
It's harder and harder to find ways to wash it. The feds are all over it now, it's not as anonymous and mysterious as it was back in the day, they can trace the blockchain for sure, but to what extent we don't know. They withheld so much shit on a lot their court cases, because they didnt want to prove how they track even the biggest time people. I haven't followed it in ages now, but I know for a time, to wash the cut was over 30%, so they likely didn't want to take any chances letting btc dip in price while holding cause the margins get thin