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>Nearly 14 years in, where exactly is this “ton of real world utility”? People usually qualify this with "moral" or "legal" uses -- crypto currencies are absol

by s_dev 3y ago

>Nearly 14 years in, where exactly is this “ton of real world utility”? People usually qualify this with "moral" or "legal" uses -- crypto currencies are absolutely useful for tax evasion and moving money across borders illegally -- it's why many people use them. It's these exact qualities that draw in the 'scammers' and 'get rich guys' as well. So it absolutely has real world uses just ones you don't like. The next question naturally then is why don't we shut them down? Now you can see how powerful they actually are because they're aren't fragile either and very persistent.

sjsdaiuasgdia 3y ago
>The next question naturally then is why don't we shut them down? TBH I think one of the larger reasons why authorities haven't taken more aggressive action against cryptocurrency blockchains is the "prosecution futures" aspect. The capabilities of the system attract illegal use, and truly staying unidentified requires really tight opsec. This gets even harder if you want to be able to pull some value back into traditional currency anywhere in the process. It is effectively a distributed honeypot the authorities don't even have to run themselves.