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Your niche use of cryptocurrency isn't a valid counterpoint to the reality that cryptocurrency, in its general use, is for gambling and money laundering. I can
by ryan_lane 4y ago
Your niche use of cryptocurrency isn't a valid counterpoint to the reality that cryptocurrency, in its general use, is for gambling and money laundering.
I can use a handgun for hunting, but that doesn't mean its primary use-case is hunting.
- superkuh 4y agoIf you accept that premise then HSBC, JPMorgan, Deutsche Bank, Standard Chartered and Bank of New York Mellon are also for money laundering primarily.
- ryan_lane 4y agoNo, because they offer actual legitimate services that are used frequently by legitimate customers. They've also all happened to do large scale money laundering, but that isn't their primary focus and isn't how they're generally viewed. Bitcoin is accepted as payment essentially nowhere, in the grand scheme of things. Yes, you've found some niche places that allow it, but it's rare. When I think ransomware, the first thing that comes to mind is cryptocurrency (specifically Bitcoin and ETH). When I think of money laundering, I think of NFTs, through ETH. If you talk to most normal people and ask them what they think of when you talk about bitcoin, it's probably buying illegal drugs.
- superkuh 4y ago>If you talk to most normal people and ask them what they think of when you talk about bitcoin, it's probably buying illegal drugs. Ah yes. The "experts" that have only heard about Bitcoin from Fox/MSNBC/etc news. I'm sure they know what they're talking about.