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> The value proposition was uncensorability, irreversibility, non-inflationary nature, and permissionless nature. This boils down to two things, really: 1. To

> The value proposition was uncensorability, irreversibility, non-inflationary nature, and permissionless nature. This boils down to two things, really: 1. To skirt the law (aka regulatory arbitrage) and 2. Act as a techno-libertarian “sound money” experiment. Ghost guns can be used for good. But it’d be pretty silly to suggest that criminals use them because they’re early adopters. Criminals use them because they’re criminals. Sometimes the laws they’re breaking are unjust—but these are just tools for breaking the law. And just because you can use crypto to buy things legally, there’s virtually no reason to do so, like taking a ghost gun to your local firing range.

anonym29 4y ago
I'd disagree on your first point. A critical component of systems that should skirt the law would be untraceability. A cryptocurrency like Monero or Zcash has this property (or attempts to, at least), and they are much stronger candidates for that use case. Uncensorability is a desireable property for legal adult content producers, who are locked out of many payment platforms despite operating entirely within the law. Irreversibility is a desireable property for merchants, who are the ones left holding the back when chargeback fraud occurs. Permissionless nature is a desireable property for those at risk of discrimination from traditional financial institutions. While rare in the developed world for law-abiding customers, there are plenty of countries where people of certain races, religions, and ethnic groups are denied access to financial resources like a bank account because of such factors. While these traits may be attractive to criminals, especially ransomware authors, they aren't only attractive to criminals, and all of them find demand in law-abiding users, as detailed above.

anonym29 4y ago

I'd disagree on your first point. A critical component of systems that should skirt the law would be untraceability. A cryptocurrency like Monero or Zcash has this property (or attempts to, at least), and they are much stronger candidates for that use case. Uncensorability is a desireable property for legal adult content producers, who are locked out of many payment platforms despite operating entirely within the law. Irreversibility is a desireable property for merchants, who are the ones left holding the back when chargeback fraud occurs. Permissionless nature is a desireable property for those at risk of discrimination from traditional financial institutions. While rare in the developed world for law-abiding customers, there are plenty of countries where people of certain races, religions, and ethnic groups are denied access to financial resources like a bank account because of such factors. While these traits may be attractive to criminals, especially ransomware authors, they aren't only attractive to criminals, and all of them find demand in law-abiding users, as detailed above.