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Re:Tether ordered to produce documents showing backing of US... by jandrese on Wednesday September 21, 2022 @12:41PM (#32927739)
Criminals still need to launder money. Suburbanites still need to buy drugs. Cryptocurrencies won't completely disappear.
Re:Tether ordered to produce documents showing backing of US... by 0x457 on Wednesday September 21, 2022 @02:33PM (#32929299)
> Suburbanites still need to buy drugs

Lol, you think these transactions done with crypto? Don't be silly.

Re:Tether ordered to produce documents showing backing of US... by jandrese on Wednesday September 21, 2022 @05:16PM (#32931634)
You are saying the Silk Road and the numerous clones aren't real?
Re:Tether ordered to produce documents showing backing of US... by tomjakubowski on Wednesday September 21, 2022 @06:51PM (#32932645)
Silk Road was a drop in the ocean, in total a hundredth of a percent of just the United States' spend on the most popular illicit drugs.

Silk Road … facilitating annual sales estimated at almost $15 million.

https://reason.com/2013/04/09/bitcoin-vs-big-government/

Researchers estimate that from 2006 to 2016, the total amount of money spent by Americans on these four drugs fluctuated between $120 billion and $145 billion each year.

https://www.rand.org/news/press/2019/08/20.html

Re:Tether ordered to produce documents showing backing of US... by 0x457 on Thursday September 22, 2022 @08:07PM (#32946274)
They are real, but it's much, much easier to venmo/cashapp and get same day 2-hours delivery/pickup. Which is how most of the last mile trade is done.
Re:Tether ordered to produce documents showing backing of US... by missedthecue on Wednesday September 21, 2022 @05:28PM (#32931746)
They comprise a negligible amount of the drug trade. People are more likely to use Venmo than mess around with crypto wallets