Stop crashing Bitcoin, or even the last real world usage for Bitcoin beside child porn and terrorism will be gone!
http://uk.businessinsider.com/bitcoin-crash-drug-dealers-2015-1“Out a couple of thousand over this,” writes one dealer. “Bad f---ing time to start up. I really hope it bounces back and stays there. I can’t believe how fast they’re dropping. $330 to 280 to 220 in just a few weeks. Bye bye profit.”
“I am losing losing 10-20% on all orders in escrow now!” says another. “Make that 30%!!! There goes all profit! FML.”
One deep web cocaine dealer spoke to Business Insider about the price crash. “It’s pretty damn sad,” they said. “We have worked so hard over the past 3 months, and for profits to get halved? It’s hard to swallow, simple as that, but what can you do. It’s a gamble, whether you hold or sell.”
They'd cashed out and had a massive payday during the bubble in November 2013, so they weren't immediately hurt by the dropping prices. But it’s still “hard work down the toilet.” And other, newer dealers don't have that luxury: they’ll be forced to sell reserves at a loss just to keep going
(and potentially forcing the price down even more in the process)."It´s a death spiral! If it it doesn´t end soon, we (the vendors) will have to switch to something more solid and reliable, like DOGE!"
these guys are morons to sell drugs using something that is traceable. the usd is much better to use since it is totally untraceable if using cash like a normal drug dealer.
Think you're missing the point of silkroad 99.0 and all the other ONLINE market places.
meh, still though 99.99% of all drug trade (and I dare say terrorism related funding, weapons, child pron etc etc) are conducted in fiat, in cash and the money then squirreled and laundered by the big banks in plain sight. We know it, they know it, the government know it, the banks know it.. the whole argument about crypto and it being a worry for facilitating illicit trade, at this point in time is an entire massive crock of shit. Apart from anything else, and all of the obvious reasons, the BTC market cap, and the alt caps, are not big enough to facilitate large amounts of drug/weapons/laundered money. It is hilarious to even suggest that certain organisations, are doing so. Nope they will stick to truck loads of cash, houses filled floorboard to ceiling, and using banks like HSBC, in good old fashioned fiat. This is not going to change anytime soon. Trust me, these people like to know who to go and shoot in the face if their money goes missing.. I hardly see them running around looking for satoshi. That is not to say in the very distant future they will not use some crypto, but to label it as a actual current and actual use, and claim it makes up anything other than an tiny portion of world wide drug and weapons trade is total hogwash.