It depends on the activity itself. For ransomware, as I've mentioned you don't really have to worry about everything being on a public ledger. The FBI likely knows who is involved in all of these attacks. They just can't do anything about it because these parties live in Russia, NK, etc. The link provided earlier mentioned $107M in Bitcoin from just one group. Now I do think they likely then turn around and convert that into stablecoins, other crypto (including Monero, though it likely isn't as untraceable as some might think), use tumblers, etc. Maybe they even try to pump up a new cryptocurrency token from a viral social media personality. For activities that aren't quite so easy to pull off like ransomware, then yeah even more so. I do think these groups like to utilize Bitcoin when victimizing mainstream folks simply due to how much easier (in theory) it is to use, but if that's not a relevant factor, then they can bypass it (although maybe they can use it for related activities). This is a crypto problem in general and not necessarily a Bitcoin only thing, and I definitely wasn't trying to imply that it was. It does seem like Bitcoin is involved quite a bit based on some of the available data though, even if it isn't necessary or technically the best option. Weaver goes into some of this with that link earlier (and probably in other stuff if you Google it). This was kinda his thing for a while, though I think he did move on to other interests.
It's a completely new asset class that has 15 years mostly in an era of historically cheap money and appetitie for risk. Riskier asset classes all moved higher due to the Trump admin vibe. If BTC has staying power then it can thrive in an era with normalized rates.
Lot of energy being used to make your portfolio bigger..... ....and giving countries like NK a way around financial systems. At least if BTC crashes that power can be used for useful things for society like data centers, manufacturing, residents, AI training, etc. BTC seems like perpetual motion machine.
You suggesting bitcoin doesn't play by the laws of physics when it's the only non-physical commodity in the world that does sums up your contributions to this thread perfectly.
Securely stores and transmits value. Just like it was doing 10 years ago when you probably first asked this question.
Put down the bong buddy.... and give me a hit. BTC does play by the laws of physics which is why I say it's wasteful. All the terawatts and water needed to keep up this endless mining just to HODL.....
And that's special how..... I carry around several things in my wallet that do exactly that everyday....And they do so more efficiently and effectively.
You have nothing in your wallet that stores value. Everything in your wallet bleeds value. You have things (stocks, commodities, real estate, etc), usually in the custody of others, that store value better (although not necessarily net-positive) than what's in your wallet, but still piss poor compared to Bitcoin. Bitcoin has: -No issuer/controller -Easy self-custody -A fixed supply that is completely immune to demand -60% AARR There is no other asset like it, and certainly not in your wallet.
Don't underestimate the value of @dmoneybangbang chucky cheese tokens in his vintage power ranger wallet.
I mean I can actually do useful stuff with my tokens…. You just keep yours under a digital mattress. We are cutting more of the rainforest down so you can HODL as well…. Luckily this pro BTC pro renewable energy administration is coming into power….
Yes. Storing value is how humans prosper. It's a foundational part of civilization. Nearly every empire that has collapsed in human history has done so due to broken money.
When yall start talking about 'water' my ears perk up. What do you know that I haven't known already?
BTC mining is pretty much like running a data center, takes electricity to power and water to cool all the hardware. https://www.theverge.com/2023/11/29/23979858/bitcoin-mine-cryptocurrency-water-use-analysis-energy
A part yes…. But using that value is how humans prosper. Civilizations wouldn’t take off if everyone is just “storing value” under their mattress. I don’t think you really understand this…. External forces like climate change, war, etc can affect “money”. You seem to have this view that “money” needs to be rigid, which has its own set of consequences.
