Bitcoin and dark net markets are even more worthy of coverage than a fast-growing cartel because they seem to be enabling new kinds of illegal transactions that were impossible or much harder in the old world of cartels.
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The dollar, meanwhile, enabled around $100 trillion in legal payments last year (acc. to the Fed), so total global drug sales would only account for around .5% of all dollar payments.
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(The dollar also enabled lots of other kinds of transactions, like foreign trade, capital markets activity and lending that have no analogue in the Bitcoin world and that probably make many people more willing to tolerate the illegal transactions.)
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These #'s start to provide a picture of why we write about this. It is not just because the black market stuff is sensational. It is also one of the most steadily growing and interesting experiments in how BTC can be used in the real world.
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It's not the only thing we are going to write about in the crypto realm, but it certainly seems worthy of coverage.
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Kraj razgovora
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$748 billion in drug transactions? What's the source on that, that number seems absurdly high!
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Professional criminals would never allow themselves to be seen by blockchain analytics. So instead, Chainalysis goes after the low hanging fruit and then self-promote to keep up appearances. OTC is 2/3 of all volume and is a total black box for Chainalysis...
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