3 ms·
Yep, the only use cases for decentralized, programmable monetary systems are criminal. /s
by uLogMicheal 3y ago
Yep, the only use cases for decentralized, programmable monetary systems are criminal. /s
- thatguy0900 3y agoWell you don't seem to have any other examples of things that can't be done with fiat
- uLogMicheal 3y agoYou comment this as many major central banks are conducting trial / rollout plans for CBDC. I prefer the decentralized side of cryptocurrency where the rules, censorship, and supply is transparent and limited.
- FormerBandmate 3y agoBanks work fine now for payments. The only real advantage of crypto over CBDC is that you can more easily sell drugs and guns. No one is losing their bank account for donating to Donald Trump
- uLogMicheal 3y agohttps://www.npr.org/2023/06/12/1181675580/epstein-jane-doe-1-290-million-settlement-jpmorgan-chase https://www.npr.org/2023/06/12/1181675580/epstein-jane-doe-1... This was done in USD. Maybe crime wouldn't be whitelist only on a transparent blockchain and that is what is feared? Money is the root of most activity in this world, criminal or good. Transparent transactions bring all crime into the spotlight and for some that is problematic.
- bruce511 3y agoYou are not alone. There are lots of folk who have your opinion. You are of course free to have it. That doesn't change the fact that the only killer app is criminal activity. Of course you -can- do non-criminal things with it, but frankly as a currency it's terrible. It's way too volatile, and transactions are both too expensive and too slow. I get the goals - decentralisation, limited money supply (which in theory is supposed to limit inflation, but doesn't) and so on. Unfortunately the volatility dwarfs any inflation hedging etc. It's also super-risky right now, so I recommend holding your own coins. Not your keys not your money. Sure it's different. Sure it's idealistic. But it's also, well, a terrible currency. Which means mostly it serves as a nice way to do criminal transactions.
- mr_woozy 3y ago[dead]
- xwdv 3y agoTechnically, since the Venezuelan government doesn’t want people laundering money with crypto, most people there are likely committing crimes and tax evasion with it.
- uLogMicheal 3y agoOr trying to escape inflation/corruption? Please look into how the government there has brutally mismanaged their currency. People are suffering there because of monetary policy, empathy is a good practice.
- xwdv 3y agoThe law is the law.
- 2OEH8eoCRo0 3y agoHe didn't say that, he said it's the killer app. It's the only value add over traditional finance.
- surgical_fire 3y agoThis, but without the "/s"