Is there value in this currency outside of black market transactions and ransoms?
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Yes. Since bitcoin transfers can’t be traced, bitcoin is often used to purchase drugs or stolen gods or finance other types of criminal activity. But it also has legitimate uses, and can be used as a form of payment with anybody who accepts it. Some investors consider bitcoin to be a store of value–an asset that has a long shelf life and whose value generally goes up over time. While that may be the trend of the last several years, however, we still can’t be sure bitcoin will hold its value long-term.