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The primary actual use case for crypto is for illegal money transfers, and to facilitate illegal activity. It has the benefits of cash (from an annonyminity po

The primary actual use case for crypto is for illegal money transfers, and to facilitate illegal activity. It has the benefits of cash (from an annonyminity point of view) but without the need for a risky physical handover. It also allows illegal cross-border money movement. Whether this movement is moral or not, its still illegal. There are cases one can make that it allows the bypassing of laws for morality reasons, but unfortunately that attribute works equally well more mial and immoral reasons. For Joe Public getting on with his life, crypto adds no functionality that isn't better, cheaper, and faster done another way. But ponzi schemes and greed go together like bread and butter - they are baked into the human condition. PS. I have some tulip bulbs, willing to swap for Bitcoin. Contact me please if you are interested.

seibelj 4y ago
The Supreme Court says states can decide how to regulate abortion, and that is now the law in the land of the USA. But many cry and bemoan how this is illegitimate, immoral, wrong, and elected officials encourage their citizens to help others violate the law. The Supreme Court says no state can prevent a citizen from having a concealed gun, and New York immediately passes an obvious violation of the new law to restrict rights. I’m not passing judgement on anything. What I’m saying is what is “illegal” doesn’t have a basis on morality - or else thousands of years of state-sanctioned slavery (literal human bondage) you would justify as “The Law” regardless of morals.
- bruce511 4y ago
  This is exactly my point. I make no judgement as to whether the law is moral or not. Crypto facilitates illegal activity. You may consider that a feature or a bug - I make no judgement either way. I would suggest though that when the primary utility is for illegal activity, then it's likely to attract more regulation, and fewer honest users. And that may ultimately affect its attractiveness as a store of value.

seibelj 4y ago

The Supreme Court says states can decide how to regulate abortion, and that is now the law in the land of the USA. But many cry and bemoan how this is illegitimate, immoral, wrong, and elected officials encourage their citizens to help others violate the law. The Supreme Court says no state can prevent a citizen from having a concealed gun, and New York immediately passes an obvious violation of the new law to restrict rights. I’m not passing judgement on anything. What I’m saying is what is “illegal” doesn’t have a basis on morality - or else thousands of years of state-sanctioned slavery (literal human bondage) you would justify as “The Law” regardless of morals.

bruce511 4y ago
This is exactly my point. I make no judgement as to whether the law is moral or not. Crypto facilitates illegal activity. You may consider that a feature or a bug - I make no judgement either way. I would suggest though that when the primary utility is for illegal activity, then it's likely to attract more regulation, and fewer honest users. And that may ultimately affect its attractiveness as a store of value.