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I believe both sides of the aisle hold some responsibility for this disconnect. Detractors of cryptocurrency often like to cite the shady world of BitCoin secu
by lsadam0 12y ago
I believe both sides of the aisle hold some responsibility for this disconnect. Detractors of cryptocurrency often like to cite the shady world of BitCoin securities, just like this article does.
However, that's not a valid criticism. BTC functioned only as the method of payment. You can't criticize the future utility of a technology based upon how someone has misused it. If that were the case, we should ban the Internet.
- etchalon 12y agoGenerally though, the issue is mentioned in a broader context than just "someone did a bad thing with the internet", and more that the community behind Bitcoin, and the libertarian philosophies which guide it, give rise to the scams and dark market uses of the currency. When evaluating and discussing any technology, you're absolutely right: it is unfair to criticize it based on a few bad examples. However, it is fair to look at a technology and consider whether the "legal" outweigh the "illegal" ones, and if not, why. The author makes this point succinctly.
- Retra 12y agoI think the bigger picture here is that there is a serious worry that bitcoin will benefit those who participate in illegal activities far more than those who do not -- that it offers an advantage that most legal activities don't require or value heavily.
- lsadam0 12y agoI must give you credit, this is very well said. This is a legitimate concern. I feel as though this is what others have been attempting to say when using the "illegal activities" argument.