3 ms·

Of course crypto is here to say. That's like saying math is here to say. But the inability to convert imaginary coins into fiat is a political decision away.

kreetx 5y ago
There are other areas that are illegal but don't appear to be going away, like drugs and prostitution. Wouldn't criminalizing crypto just move the entire thing under ground? This would perhaps limit its "market cap", but also removes the ability to regulate and tax it. > Of course crypto is here to say. That's like saying math is here to say. I think banning cryptocurrencies as an activity isn't like math, unless you meant "doing math" as in solving an equation. I.e if by some higher power you could find cryptocurrency operations then these would seize to exist (and be "not here to stay"), while the knowledge of math won't.
- Nursie 5y ago
  > Wouldn't criminalizing crypto just move the entire thing under ground? It would shrink massively. Cryptocurrency itself is not as base a desire as drugs or prostitution. They are a goal in and of themselves, for people seeking them. Cryptocurrency not so much.
  - kreetx 5y ago
    It would shrink, definitely, but as the other two it wont disappear as it's actually required, both as protection against inflation or also as a fast and no-middlemen way to send money. And for specifically for bitcoin[1] the "goal in itself" is the anti-inflationary part. Nobody wants to lose what they have because somebody else thought that creating new money is a good idea. Putting your cash into other assets such as real estate achieves the same goal, bitcoin is just more convenient. [1] I say "specifically for bitcoin" as what a value of any cryptocurrency is depends on how it's actually coded up (how/when it's created, burnt etc). Not all cryptocurrencies are good for "stores of value".

3 ms·

Of course crypto is here to say. That's like saying math is here to say. But the inability to convert imaginary coins into fiat is a political decision away.

by hocuspocus 5y ago

kreetx 5y ago
There are other areas that are illegal but don't appear to be going away, like drugs and prostitution. Wouldn't criminalizing crypto just move the entire thing under ground? This would perhaps limit its "market cap", but also removes the ability to regulate and tax it. > Of course crypto is here to say. That's like saying math is here to say. I think banning cryptocurrencies as an activity isn't like math, unless you meant "doing math" as in solving an equation. I.e if by some higher power you could find cryptocurrency operations then these would seize to exist (and be "not here to stay"), while the knowledge of math won't.
- Nursie 5y ago
  > Wouldn't criminalizing crypto just move the entire thing under ground? It would shrink massively. Cryptocurrency itself is not as base a desire as drugs or prostitution. They are a goal in and of themselves, for people seeking them. Cryptocurrency not so much.
  - kreetx 5y ago
    It would shrink, definitely, but as the other two it wont disappear as it's actually required, both as protection against inflation or also as a fast and no-middlemen way to send money. And for specifically for bitcoin[1] the "goal in itself" is the anti-inflationary part. Nobody wants to lose what they have because somebody else thought that creating new money is a good idea. Putting your cash into other assets such as real estate achieves the same goal, bitcoin is just more convenient. [1] I say "specifically for bitcoin" as what a value of any cryptocurrency is depends on how it's actually coded up (how/when it's created, burnt etc). Not all cryptocurrencies are good for "stores of value".