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The point that I was making was that cryptocurrency has significant criminal use-cases (which the GGP was playing down or was ignorant of). While cash can be u
by tablespoon 4y ago
The point that I was making was that cryptocurrency has significant criminal use-cases (which the GGP was playing down or was ignorant of).
While cash can be useful for criminal schemes, it's old and has significant legitimate use due to legacy momentum. Cryptocurrency, on the other hand, is new and post-dates regulated payment networks that efficiently handle nearly all legitimate payments, so it suffers from similar problems to unmoderated internet forums: it actively attracts a disproportionate share of bad actors. I'm not saying that cryptocurrency should be banned for that reason, but it's an important fact to note when it's being denied.
IMHO, cryptocurrency isn't the "future of money," because there are no practical reasons for anyone to use it as money. The main reasons people actually use it are (in order): for speculation, criminal activity, or (often questionable) ideological reasons. The latter is a drop in the bucket compared to the first two.