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You can literally say that about cold hard cash. Blackmail? Pay cash. Buying illegal substances? Cash. Gambling? Get your cash out. It's all in how you use it.

You can literally say that about cold hard cash. Blackmail? Pay cash. Buying illegal substances? Cash. Gambling? Get your cash out. It's all in how you use it. https://eandt.theiet.org/content/articles/2021/05/moon-mission-paid-entirely-with-dogecoin-set-for-2022-launch-with-spacex/ https://eandt.theiet.org/content/articles/2021/05/moon-missi... Anything is a store of value, wood, gold, water, dogecoin ect. If people want to accept something for something else this is a way of life. It's just sad that people only see the bad use cases. How about if I transact only in crypto (Monolith card), now every purchase I make is via crypto, nothing different to using a bank card with US dollars backing it, just you have the full control over your own money.

pavel_lishin 5y ago
Do people who had SafeDollar have control over their own money? Did the people whose money got locked in the DAO because of a software bug have control over their own money? > How about if I transact only in crypto (Monolith card), now every purchase I make is via crypto Do you in fact do this? > nothing different to using a bank card with US dollars backing it There certainly is if you read Monolith's fine print, and it's wildly disingenuous to pretend otherwise: The Monolith account and Visa Debit Card are electronic money products which are not covered by the Financial Services Compensation Scheme or the Deposit Insurance System of the Republic of Lithuania. The funds will be safeguarded by Contis Financial Services Ltd or UAB „Finansinės paslaugos „Contis“. For any disputes, the Financial Ombudsman Service and the Bank of Lithuania consumers disputes resolutions institution are available.
- UIGYUIUYG 5y ago
  > Do people who had SafeDollar have control over their own money? Did the people whose money got locked in the DAO because of a software bug have control over their own money? Nope, because they didn't do their due diligence. Do you deposit your savings to a new bank that's not had a single audit done? Are there any specific banks that you won't do business with? It's the exact same in the crypto sphere. > Do you in fact do this? I do indeed. I use it as my daily spending card. Should Contis Financial Services Ltd collapse it'd be a bummer, but I've lost more on a night out by dropping a paper note. I will agree it's not like using a bank card, I should specify more like a pre-paid card. Whilst you don't get the financial protection that you do with standard institutions it's the price you have to pay to start working towards a different financial future.
  - pavel_lishin 5y ago
    Valid points, but the financial future crypto like this paints is not a future that seems better to me, not like a future I want to live in, or work toward.
  - umanwizard 5y ago
    > Do you deposit your savings to a new bank that's not had a single audit done? Sure, because banks in my country are regulated, and deposits are insured, so I trust literally any bank.
rednerrus 5y ago
The difference is you can't use dollars to do digital transactions. Good luck with sending a suitcase full of cash to SatoshiDice. Even better luck getting a suitcase back. The only value add for crypto right now is that it's pseudoanonymous and you can use it for black market transactions. Other than that why not just use Venmo or CashApp?
andai 5y ago
This is one reason cash is being phased out in many countries. It took me most of a week to deposit money on my account -- the bank literally would not take my money! They told me to find a machine, and they were either out of order, removed, or did not take cash. Well, that's the noble explanation. Another consequence is they can now have an electronic record of every single purchase almost every citizen makes.
deleted 5y ago
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ncann 5y ago
> It's just sad that people only see the bad use cases Yeah, when 95%+ of the actual things that people use crypto for are those things, it's hard not to. Can you honestly say the "valid" uses for crypto take up more than 5% the total volume in any possible metric you can think of? It's always ransomware, extortion, blackmail, money laundering, drugs, you name it.
- admiral33 5y ago
  Do you have a source for '95%+'? https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/ https://www.forbes.com/sites/haileylennon/2021/01/19/the-fal... https://www.cnbc.com/2021/01/24/overall-bitcoin-related-crime-fell-last-year-but-one-type-of-crypto-hack-is-booming.html https://www.cnbc.com/2021/01/24/overall-bitcoin-related-crim...
- UIGYUIUYG 5y ago
  One I personally know of - https://cryptoslate.com/another-big-cardano-ada-deal-is-in-the-works-in-africa/ https://cryptoslate.com/another-big-cardano-ada-deal-is-in-t... There is many other cases for blockchain / crypto technologies far beyond the world of ransomware, extortion, blackmail, money laundering. > The country will implement a national, blockchain-based student and teacher ID and attainment recording system to digitally verify grades, remotely monitor school performance and boost education and employment nationwide. > IOHK’s Atala PRISM identity solution will enable authorities to create tamper-proof records of educational performance across 3,500 schools, 5 million students, and 750,000 teachers to pinpoint the locations and causes of educational under-achievement and allocate educational resources effectively. You've got Walmarts chinese subsidy investing in vechain for logistics: https://cointelegraph.com/news/walmart-china-subsidiary-teams-up-with-vechain-to-trace-food-products https://cointelegraph.com/news/walmart-china-subsidiary-team... These are just two off the top of my head, let alone all the partnerships in the works that we haven't heard about yet. There's big money getting into crypto whilst simultaniously lots of news and opinions regarding the fact it's used for nefarious acts.
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brianwawok 5y ago
Totally true. That said, to deposit 10k of cash in a bank you need to fill out some forms. I also don't have a great way to send you say 100k in cash. Suitcase full of dollars? But I can send you 2 BTC much easier. The big hole in demanding giant ransoms was always taking delivery of the suitcase full of money. Not so hard to do with digital currency.
- deleted 5y ago
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pavel_lishin 5y ago

Do people who had SafeDollar have control over their own money? Did the people whose money got locked in the DAO because of a software bug have control over their own money? > How about if I transact only in crypto (Monolith card), now every purchase I make is via crypto Do you in fact do this? > nothing different to using a bank card with US dollars backing it There certainly is if you read Monolith's fine print, and it's wildly disingenuous to pretend otherwise: The Monolith account and Visa Debit Card are electronic money products which are not covered by the Financial Services Compensation Scheme or the Deposit Insurance System of the Republic of Lithuania. The funds will be safeguarded by Contis Financial Services Ltd or UAB „Finansinės paslaugos „Contis“. For any disputes, the Financial Ombudsman Service and the Bank of Lithuania consumers disputes resolutions institution are available.

UIGYUIUYG 5y ago
> Do people who had SafeDollar have control over their own money? Did the people whose money got locked in the DAO because of a software bug have control over their own money? Nope, because they didn't do their due diligence. Do you deposit your savings to a new bank that's not had a single audit done? Are there any specific banks that you won't do business with? It's the exact same in the crypto sphere. > Do you in fact do this? I do indeed. I use it as my daily spending card. Should Contis Financial Services Ltd collapse it'd be a bummer, but I've lost more on a night out by dropping a paper note. I will agree it's not like using a bank card, I should specify more like a pre-paid card. Whilst you don't get the financial protection that you do with standard institutions it's the price you have to pay to start working towards a different financial future.
- pavel_lishin 5y ago
  Valid points, but the financial future crypto like this paints is not a future that seems better to me, not like a future I want to live in, or work toward.
- umanwizard 5y ago
  > Do you deposit your savings to a new bank that's not had a single audit done? Sure, because banks in my country are regulated, and deposits are insured, so I trust literally any bank.

rednerrus 5y ago

The difference is you can't use dollars to do digital transactions. Good luck with sending a suitcase full of cash to SatoshiDice. Even better luck getting a suitcase back. The only value add for crypto right now is that it's pseudoanonymous and you can use it for black market transactions. Other than that why not just use Venmo or CashApp?

andai 5y ago

This is one reason cash is being phased out in many countries. It took me most of a week to deposit money on my account -- the bank literally would not take my money! They told me to find a machine, and they were either out of order, removed, or did not take cash. Well, that's the noble explanation. Another consequence is they can now have an electronic record of every single purchase almost every citizen makes.

deleted 5y ago

[deleted]

ncann 5y ago

> It's just sad that people only see the bad use cases Yeah, when 95%+ of the actual things that people use crypto for are those things, it's hard not to. Can you honestly say the "valid" uses for crypto take up more than 5% the total volume in any possible metric you can think of? It's always ransomware, extortion, blackmail, money laundering, drugs, you name it.

admiral33 5y ago
Do you have a source for '95%+'? https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/ https://www.forbes.com/sites/haileylennon/2021/01/19/the-fal... https://www.cnbc.com/2021/01/24/overall-bitcoin-related-crime-fell-last-year-but-one-type-of-crypto-hack-is-booming.html https://www.cnbc.com/2021/01/24/overall-bitcoin-related-crim...
UIGYUIUYG 5y ago
One I personally know of - https://cryptoslate.com/another-big-cardano-ada-deal-is-in-the-works-in-africa/ https://cryptoslate.com/another-big-cardano-ada-deal-is-in-t... There is many other cases for blockchain / crypto technologies far beyond the world of ransomware, extortion, blackmail, money laundering. > The country will implement a national, blockchain-based student and teacher ID and attainment recording system to digitally verify grades, remotely monitor school performance and boost education and employment nationwide. > IOHK’s Atala PRISM identity solution will enable authorities to create tamper-proof records of educational performance across 3,500 schools, 5 million students, and 750,000 teachers to pinpoint the locations and causes of educational under-achievement and allocate educational resources effectively. You've got Walmarts chinese subsidy investing in vechain for logistics: https://cointelegraph.com/news/walmart-china-subsidiary-teams-up-with-vechain-to-trace-food-products https://cointelegraph.com/news/walmart-china-subsidiary-team... These are just two off the top of my head, let alone all the partnerships in the works that we haven't heard about yet. There's big money getting into crypto whilst simultaniously lots of news and opinions regarding the fact it's used for nefarious acts.
- deleted 5y ago
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brianwawok 5y ago

Totally true. That said, to deposit 10k of cash in a bank you need to fill out some forms. I also don't have a great way to send you say 100k in cash. Suitcase full of dollars? But I can send you 2 BTC much easier. The big hole in demanding giant ransoms was always taking delivery of the suitcase full of money. Not so hard to do with digital currency.

deleted 5y ago
[deleted]