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Yellen’s comments really don’t justify the headline. Said differently, the headline should be something like “Janet Yellen Will Consider Ways to Limit the Use o
by remarkEon 6y ago
Yellen’s comments really don’t justify the headline. Said differently, the headline should be something like “Janet Yellen Will Consider Ways to Limit the Use of Cryptocurrency for Illegal Transactions”. I.e. stuff for which it’s already illegal to transact in dollars. At this point, she’s not coming for your Bitcoins, though unfortunately I think framing crypto as directly adjacent (or an enabling mechanism) to illicit activity is a step in that direction. But honestly this has been a criticism leveled at Bitcoin for years and nothing has changed.
- Proven 6y agoApart from illegal transactions there's no other significant use case. Anything that isn't illegal can be done better with fiat, or just as well with shitcoins (because their transaction fees and confirmation times are lower).