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I disagree strongly that moving outside of the financial system is primarily used for money laundering. Bitcoin is great for censorship resistance, and for offe
by lpolovets 4y ago
I disagree strongly that moving outside of the financial system is primarily used for money laundering. Bitcoin is great for censorship resistance, and for offering an alternative to oppressive monetary policies. Here's a good article touching on some of the use cases outside of the US: https://bitcoinmagazine.com/culture/check-your-financial-privilege https://bitcoinmagazine.com/culture/check-your-financial-pri...
In the long run, I hope Bitcoin's existence will also lead to better monetary policies since governments have always assumed a monopoly on money, and now there's finally some true competition. And competition leads to better outcomes for consumers/citizens.
- 8note 4y agoCurrencies did a lot of centralizing on their own. One currency is much more useful to its owner than 500. Ain't nobody want to spend time converting from the 500 down into one so they can buy an expensive widget that only accepts a specific currency