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The biggest society wide actualized impacts of crypto have been: 1) Ransomware 2) Electricity usage 3) International reserve currency for bad actors such as
by ABeeSea 6y ago
The biggest society wide actualized impacts of crypto have been:
1) Ransomware
2) Electricity usage
3) International reserve currency for bad actors such as North Korea, terrorist cells, and drug cartels.
I don’t see any of these three as a positive; certainly not the greatest financial innovation of all time. I also don’t see other use cases having the size of these three. (Ignoring speculative investment as a use case)
- seibelj 6y agoI see the major benefit of bitcoin being that no government can stop it or seize it from me if properly stored. USD was used for crime well before bitcoin. The benefit of reducing the power of government and empowering individuals is vastly worth whatever electricity it costs. After all, if people want to use electricity to stream pornography, I don’t care. They are paying for it - and so are bitcoin enthusiasts.
- deleted 6y ago[deleted]
- UncleMeat 6y agoI'm happy that the state has the ability to seize illegal funds from people. Outside of minarchists and a few others, there aren't many people who think that completely lawless wealth is a good plan.
- seibelj 6y agoIn the West we have reasonably decent government. In other countries, not so much. You are a law-abiding citizen today, and tomorrow you are a criminal whose assets should be seized. Just ask my family that fled communism!
- UncleMeat 6y agoBtc won’t protect you against a government that is willing to show up to your house and send you to Siberia or shoot you in the head. The “sweet spot” of a sufficiently corrupt country where seizing wealth is common but Btc would protect you is pretty small.