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> local banks harassed me with their KYC/AML requirements So you use crypto to break the law, and you believe you are justified in doing that. Thing is, most

> local banks harassed me with their KYC/AML requirements So you use crypto to break the law, and you believe you are justified in doing that. Thing is, most of the people using crypto for crime are simply using it to not pay taxes. > Wow, shitcoins sound so much worse than pieces of paper that are propped up by a legal decree, which legitimacy rests solely on the monopoly on violence. Wait, does it actually sound worse? Yes, it absolutely does sound worse. On one side, we have the United States - the largest economy in the history of the world, backed by the government with the largest income of any government in history, a court system, the police and their "monopoly on violence". On the other side, you have a cryptocurrency backed by nothing, created by anonymous individuals, with no form of conflict resolution whatsoever. Cryptocurrencies have been around for almost as long as the smart phone. You would think one or two of you would have taken even a first year economics course during this time.

LudwigNagasena 4y ago
> So you use crypto to break the law, and you believe you are justified in doing that. Thing is, most of the people using crypto for crime are simply using it to not pay taxes. Using it for crime? That just makes crypto even more similar to traditional finance. > Yes, it absolutely does sound worse. So you think all countries should switch their currencies to the US dollar? Do you think it is just as good for countries to give up their financial sovereignty as it is for common people? > Cryptocurrencies have been around for almost as long as the smart phone. You would think one or two of you would have taken even a first year economics course during this time. I was a teaching assistant for a graduate course in macroeconomics in a top 50 department during my PhD. Arrow-Debreu and all that.

LudwigNagasena 4y ago

> So you use crypto to break the law, and you believe you are justified in doing that. Thing is, most of the people using crypto for crime are simply using it to not pay taxes. Using it for crime? That just makes crypto even more similar to traditional finance. > Yes, it absolutely does sound worse. So you think all countries should switch their currencies to the US dollar? Do you think it is just as good for countries to give up their financial sovereignty as it is for common people? > Cryptocurrencies have been around for almost as long as the smart phone. You would think one or two of you would have taken even a first year economics course during this time. I was a teaching assistant for a graduate course in macroeconomics in a top 50 department during my PhD. Arrow-Debreu and all that.