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This whole premise assumes that “crypto” will be a thing long enough to be cyclical.
by CPLX 4y ago
This whole premise assumes that “crypto” will be a thing long enough to be cyclical.
- aaronharnly 4y agoI expect that it will continue to be the preferred mechanism for paying criminals. It genuinely improves on the experience for both criminal and victim vs alternatives like wire transfers and cash. There is a decently large market for paying criminals (illegally but also legally, eg ransomware), so some base level can be expected to continue.
- gentoo 4y agoLaw enforcement and private surveillance companies are currently investing a ton of effort into using public blockchains (which is most of them) to unmask participants in crypto transactions. At the same time, they're putting more pressure on Coinbase and friends to do aggressive KYC, and Congress keeps considering bills that would effectively outlaw anonymous crypto purchases. It's not going to be the safest way to collect ransoms for long, if it even is today.
- kebman 4y agoIt's mostly stupid criminals who accept crypto since it's much more easy to trace than cash. Privacy coins are a completely different matter tho.
- giaour 4y agoThis is why I follow Carmen San Diego's example and only accept looted treasures as compensation for my crimes.
- i_like_waiting 4y agoWell in case that it won't be a thing long enough, then there will be no coinbase in current business model, so I guess its correct strategy.
- ryanSrich 4y agoWe're past a decade already. I think gambling is pretty popular. So I expect it to only increase in popularity until it inevitability gets regulated into the dirt.