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Other than crime the only other use-case I've seen for crypto is for getting money into Russia because the sanctions mean my English teacher friend in Vladivost
by jacobwilliamroy 3y ago
Other than crime the only other use-case I've seen for crypto is for getting money into Russia because the sanctions mean my English teacher friend in Vladivostok can't use normal banks to accept payments for the online distance teaching thing he does. But I could oversimplify this to "bypassing international sanctions" which might be a crime? Crypto mainly seems to be useful to people who can't or won't use normal banks, and those people are mostly criminals. People in Russia prefer bitcoin over rubles (even before the sanctions) but that's more an indictment of the ruble than an endorsement of bitcoin.
What am I missing here? What are the cool things bitcoin does that something like visa cannot? I've read Satoshi's paper and Vitalik Buterin's book. I want crypto to work, and I'm really searching hard for a problem crypto solves for which we don't already have a better solution.
- BasedAnon 3y ago>Other than crime the only other use-case I've seen for crypto is for getting money into Russia Violating sanctions is a crime. Given the trend we've seen people should start getting used to being considered criminals. >What am I missing here? What are the cool things bitcoin does that something like visa cannot? It's easier to send Bitcoin to people without doxing myself than a visa transfer.
- jacobwilliamroy 3y agoI've heard that crypto transactions can be more secure but I've also heard that securing information on the blockchain is basically impossible because it is a publicly available ledger. How does bitcoin opsec work exactly?
- multjoy 3y agoIt's anonymous, not private.
- BasedAnon 3y agoYou just send it through a mixer beforehand. Also securing information is possible on the blockchain, Monero does it.
- jacobwilliamroy 3y agoBut we already have "mixers" for normal money. It's called "money laundering". I can't imagine "mixing" remaining legal for much longer.
- BasedAnon 3y agoLegality is irrelevant, as long as it's still viable.