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Comparison to casinos makes sense. Currently cryptocurrencies are mostly used for speculation (basically gambling) and money laundering. There is no real econom
by poetically 5y ago
Comparison to casinos makes sense. Currently cryptocurrencies are mostly used for speculation (basically gambling) and money laundering. There is no real economic activity happening on blockchains.
- Osiris 5y agoDefine "real economic behavior". I don't see it as any different than buying and selling stock, unless you also consider that to not be real economic behavior. There's also loans and interest earning activities.
- poetically 5y agoSpeculation is not real economic activity. There are no actual goods produced and exchanged in the process.
- Xorakios 5y agoAccording to the current IRS definition of cryptocurrencies, that people filing taxes have to "check off," frequent flier miles, grocery store coupons, and even the venerable blue chip stamp books, are crypto. I understand and agree that a lot of cryptoscams dominate headlines, but there, but most money laundering, terrorist and drug financing worldwide is in USD $100 bills. Crypto is a rounding error.
- poetically 5y agoAs the de facto exchange currency of the world I agree that dollars finance crimes.