I still don't get what blockchain actually is. Every time someone explains it it sounds like what eg Git has been doing for years before cryptocurrencies ever existed yet it's somehow some revolutionary invention by some dude nobody actually knows.
Blockchain is better for gambling with a lottery. Blockchain can also be used to cast votes in a election without being hacked. If you give people ids they can use their government issued I’d to vote on the internet
People who casually read about "bitcoin" often think about Bitcoin, blockchain and cryptocurrencies as the exactly same thing.
Bitcoin is one of many various cryptocurrencies. These currencies rely on blockchain technology.
Blockchain technology is great and people will hear about it a lot in (near) future, up to the point when they won't hear about it anymore because it will become as essential as TCP/IP. No one cares about TCP packets, yet they're the core of our Internet. Average users shouldn't care about it and they won't.
Bitcoin currently is shit and is only useful for miners who can sell it because there are people who are willing to buy it, thinking it has a great value. It doesn't and unless Bitcoin improves by A LOT, it never will. Currency mining is unsustainable. A single Bitcoin transaction requires up to 500kWh of energy (source https://digiconomist.net/bitcoin-energy-consumption ). The only advantage of Bitcoin is that it was basically "the first" and thus is the most popular.
There are other projects or cryptocurrencies, where the technology is much more advanced than Bitcoin and these will lead the way.
Mostly correct except most people wont hear about blockchain in few years because it's neat tech that is almost completely useless. For almost every possible application there is a better framework than blockchain.
Comparing it to TCP is just laughable.
Bitcoin's only real use case is crime. For everything else, better alternatives exist. In fact, even for crime there are superior alternatives like Monero.
As for the often touted "blockchain technology", that is mostly useless, too. It is a specific solution to a very narrow problem. It is not something you would usually need, and most use cases that have been mentioned in the past can be better addressed with different solutions. Just yesterday, there was a case study released that came to that same conclusion.
All in all, Bitcoin's fair value is probably closer to zero than to $4000.
Isn't the problem with coins like Monero the exchanges that are monitored by IRS, FINCEN and other authorities? Of course you can evade exchanges but given the low volume I suppose it's pretty hard to offload large amounts of these coins without an exchange.
The legitimate ones definitely, but there are more than enough shady ones like the infamous BTC-e that was run by Russian money launderers until US authorities managed to apprehend the supposed operator and shut it down.
But you are right in that there is not that much liquidity in the market. Cashing out might not be that easy when you are dealing with large sums. But you could exchange one type of coins (e.g. Monero) for other coins on unregulated exchanges and then maybe funnel these smaller streams of coins to exchanges that allow you to exchange for real money, obfuscating the money trail. There are also peer-to-peer exchanges where you might be able to offload some of your coins with no oversight.
I think a lot of money laundering is also done via gift cards that can be bought with crypto currency. You could also use services that do allow you so buy physical goods. There are some sites where you can buy precious metals.
All in all, I can't tell you how much capacity there really is. You probably would not be able to launder cartel level amounts, but a lot of Darknet people seem to be small to medium size where this is less of a problem.