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by vkou 3529 days ago
Extortion in the form of ransom-ware, theft in the form of stealing bitcoin from exchanges. (Mt. Gox, and a more recent case.)

Legitimate businesses in the bitcoin space make small margins on each trade/transaction/etc. (Drug dealers are obviously a little different, but they are in the business of unlicensed pharmaceuticals, not the business of Bitcoin.)

Thieves, on the other hand, will take the whole thing, and run.

1 comments

> Extortion in the form of ransom-ware, theft in the form of stealing bitcoin from exchanges. (Mt. Gox, and a more recent case.)

This is exactly what I meant. I guess I could have been more clear about that.

I don't have any data to back the assertion, and honestly I kind of forgot the markets were still extant, I just happen to know that people are making millions in illicit profits from these two methods, and I've never heard of a successful preminer (which was how I interpreted "Ponzi scheme") other than Mr. Nakamoto.