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The only use, which is enough, is to subvert those who claim authority over others. A specific example is committing crimes: buying or selling drugs, money lau
by scythingshepard 4y ago
The only use, which is enough, is to subvert those who claim authority over others.
A specific example is committing crimes: buying or selling drugs, money laundering, tax evasion, etc.. but maybe its building a nest egg to help escape an abusive relationship or God knows what. Hiding money from some sort of extortion.
Most "crypto" isn't hidden, it isn't crypto. It's gimmicky marketing. Not currency either.
Fully fungible (all units equal) crypto (hidden) currency (means of exchange, store of value) is incredibly useful. Everyone understands why untraceable money that you can send cheaply, globally and securely in an instant is useful.
Monero, maybe not the best or final ideal tech, but it has real utility.
- deleted 4y ago[deleted]
- civilized 4y agoCrypto is not a subversion of central banks and governments. It's just an amusing gimmick that exists at their pleasure, like the state lottery. > end users always want a way to get money out of crypto and back into fiat currency. And this desire hands governments all the tools they need to starve the crypto ecosystem at will, by cutting off access to inflows and outflows if participants don’t follow the rules. When a reasonably competent and powerful government cares enough about stopping something from happening, it is very difficult, if not impossible, to continue doing business as usual. And this reality continues to take the hand-wavily libertarian crowd of crypto enthusiasts by surprise. > The persistent requirement for fiat on- and off-ramps is why virtually every anti-censorship technique that crypto comes up with instantly suffers from the same Achilles heel.
- scythingshepard 4y agoSure. And this is true of all anonymity software like Tor, I2P, etc
- lern_too_spel 4y agoThe article addresses this. Cryptocurrency cannot subvert that authority, as the law applies to it as well.
- scythingshepard 4y agoThe point is breaking the laws though