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People like Gary Gensler still talking as if Bitcoin is the go to medium of exchange for black market activities in 2024 are absolute clowns.

I can tell you, and anyone who uses DNMs will back me up, no darknet market today wants to accept Bitcoin. Many don't even provide it as an option.

Black market operators like privacy coins for OPSEC reasons. Fact. And where do darknet vendors get their supply? From black market wholesalers who want cash. Untraceable fiat currency.

I'm an agorist so I'm not saying this to badmouth privacy, just venting because I see clowns like Gary Gensler talking about how Bitcoin is used by criminals. No it is not. No criminal wants their entire transaction history public forever.

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Discussion

nobody 1y ago

He’s being paid to not fully understand the thing that he fully understands.

It’s hard for good people to grasp this but it’s true.

Don’t listen to what they say, watch what they do. Words are cheaper than plastic toys. Actions aren’t.

Pablo Xannybar 1y ago

You are 100% right. In fact despite my frustrations, I consider it bullish. They've been trying to sell the "Bitcoin is for criminals" line ever since Silk Road got bust in 2013. The market clearly doesn't care. But they clearly have no other cards to play at this point.

nobody 1y ago

And he’s outright saying that “he’s” afraid because he can’t truly control it. Not like fiat. Words can crash & pump. Not so much with BTC MATHS.