10 ms·

stablecoins seem like a good idea. But, besides, isn’t buying drugs a pretty good application of crypto? I know I have derived value from that.

• acdha 8y ago
  Ignoring the question of legality for the moment, it sharply limits the potential size and increases the costs. Legitimate businesses are going to be less likely to use a service which is strongly associated with criminal activity, exchanging for useful currency is going to be riskier and more expensive, and transactions are going to be easier to monitor with lower transaction volumes. All of those world-changing pitches are a lot harder to sustain when the volume is that much smaller and most of the players have a strong incentive not to talk about it.