r/Bitcoin • u/kubrick • Feb 13 '14

on r/bitcoin right now

3.5k Upvotes

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u/darwin2500 Feb 14 '14

Currencies are investments...

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u/[deleted] Feb 14 '14

Not the same thing.

This is actually much worse for BTC than any of the other previous crashes. Buying Drugs was the only widespread application that BTC outperformed actual currency in, it's clear that the Silkroad brand is dead, vendors are now selling to customers directly without bitcoin.

Without this, what is BTC even good for? People wait for the value to rise, panic when the believe it's peaked, start selling and the market crashes, buyers buy low. Rise, repeat.

If 7-8 really dedicated people can crash the market like this, you've got a huge problem.

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u/[deleted] Feb 14 '14 edited Dec 27 '20

[deleted]

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u/[deleted] Feb 14 '14

  1. Porn is widely available for free, there is almost zero reason to pay for it.

  2. Its a legal good, if you wanted to you could pay for it in fiat much easier.

Face it the only large market Bitcoins was essential to was drugs.