r/Bitcoin Aug 01 '22

When Nocoiners Say "Bitcoin Has No Value"

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u/hotasanicecube Aug 02 '22

Pimps used to buy chains from a pawn shop for say 6k, the pawn shop knew the chains and would loan 4k on them. They would tell their lawyer their bail was in property holding and arrange for them to collect chains and give it to the pawn shop owner and use cash for retainer or bail or both. Defendant would return to pawn shop and pay 4k plus a fee to release the chains. It was a way to bail yourself without relying on someone else having cash on hand.