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==Uses==
==Uses==
Bitcoin is heavily supported by both [[libertarian]]s and [[conservative]]s as an alternative form of currency against the [[U.S. Dollar]], which, after [[President Nixon]]'s executive order essentially eliminating the [[gold standard]] in 1971, has become less valuable and has less trust put into it. Despite support from many [[conservatives]], on July 11th 2019 [[President Trump]] strongly criticized Bitcoin on Twitter, writing: "I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity".<ref>https://twitter.com/realDonaldTrump/status/1149472282584072192</ref><ref>https://web.archive.org/web/20190712014706if_/https://twitter.com/realDonaldTrump/status/1149472282584072192</ref> There are several bitcoin exchanges on the internet, which one could use to exchange currency or something else of value (i.e. [[gold]] or [[silver]]) and receive Bitcoins, or by letting one's computer's resources be used by a Bitcoin network, and receiving an amount of Bitcoins for that service (essentially "mining" Bitcoin). Several online stores currently accept Bitcoin, and even some real-life outlets accept the currency, such as an Italian restaurant in [[New York City]].
Bitcoin is heavily supported by both [[libertarian]]s and [[conservative]]s as an alternative form of currency against the [[U.S. Dollar]], which, after [[President Nixon]]'s executive order essentially eliminating the [[gold standard]] in 1971, has become less valuable and has less trust put into it. Despite support from many [[conservatives]], on July 11th 2019 [[President Trump]] strongly criticized Bitcoin on Twitter, writing: "I am not a fan of Bitcoin and other [[cryptocurrency|cryptocurrencies]], which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity".<ref>https://twitter.com/realDonaldTrump/status/1149472282584072192</ref><ref>https://web.archive.org/web/20190712014706if_/https://twitter.com/realDonaldTrump/status/1149472282584072192</ref> There are several bitcoin exchanges on the internet, which one could use to exchange currency or something else of value (i.e. [[gold]] or [[silver]]) and receive Bitcoins, or by letting one's computer's resources be used by a Bitcoin network, and receiving an amount of Bitcoins for that service (essentially "mining" Bitcoin). Several online stores currently accept Bitcoin, and even some real-life outlets accept the currency, such as an Italian restaurant in [[New York City]].
Bitcoin has also been used to conduct [[criminal]] activity and [[black market]] by people seeking to evade the monitoring of large all-cash transactions. One academic study found that in 2012, 4.5% to 9% of all transactions of all bitcoin exchanges in the world were for drug trades on the drug market, Silk Road.<ref name="cmacademic">{{cite news|url=http://www.andrew.cmu.edu/user/nicolasc/publications/Christin-WWW13.pdf|title=Traveling the Silk Road: A Measurement Analysis of a Large Anonymous Online Marketplace|publisher=Carnegie Mellon INI/CyLab|accessdate=August 25, 2014|author=Christin, Nicolas|year=2013|pages=8}}</ref> After the FBI raided Silk Road, the price of bitcoin fell dramatically.
Bitcoin has also been used to conduct [[criminal]] activity and [[black market]] by people seeking to evade the monitoring of large all-cash transactions. One academic study found that in 2012, 4.5% to 9% of all transactions of all bitcoin exchanges in the world were for drug trades on the drug market, Silk Road.<ref name="cmacademic">{{cite news|url=http://www.andrew.cmu.edu/user/nicolasc/publications/Christin-WWW13.pdf|title=Traveling the Silk Road: A Measurement Analysis of a Large Anonymous Online Marketplace|publisher=Carnegie Mellon INI/CyLab|accessdate=August 25, 2014|author=Christin, Nicolas|year=2013|pages=8}}</ref> After the FBI raided Silk Road, the price of bitcoin fell dramatically.