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> The comparisons of crypto that he makes to frontier banks are interesting but IMHO profoundly misguided. Crypto is not a fad; it is here to stay By comparing
by ordinaryradical 6y ago
> The comparisons of crypto that he makes to frontier banks are interesting but IMHO profoundly misguided. Crypto is not a fad; it is here to stay
By comparing cryptocurrencies to wildcat banks, he was not making a statement about cryptocurrency's longevity but about its utility.
Money laundering and child pornography are not fads, and for those two reasons alone there will probably always be value in non-fiat currencies that preserve the user's anonymity. That does not make cryptocurrency something any community or individual should want a long-term association with.
- owl57 6y ago> Money laundering You mean the trade-off between global surveillance and easier life for some sorts of businesses. Is it immediately obvious which of these is more worth supporting? > and child pornography Oh yeah, think of the children. Never gets old.
- mantap 6y agoYou can replace cryptocurrency with cash there and it's just as true. In fact, cash is much more anonymous than cryptocurrency as there is no paper trail. The value that cryptocurrency provides to criminals is the same value it provides to everybody else: easy transfers across borders, and storing money outside of the control of governments. You might trust your government but what percentage of the world's population should trust their government?