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by thedarkproject
3281 days ago
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> The other main reason is that you want to avoid banks and government, which is certainly a smell that you may be a criminal. These benefits aren't for people who are honest. It is saddening that this argument is used even on HN.
That's equivalent to the old "You don't need privacy if you got nothing to hide". Examples as in Cyprus [1] prove that you should always be careful when trusting banks or any centralized system. Your line of argument is very common among representatives of banks, governments or people who are simply uneducated on the subject. Or a combination thereof. http://www.businessinsider.com/r-amid-fears-of-greek-control... |
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It's more like "don't install that library, we can just write a 10 line function." Someone who doesn't want to avoid the law is not going to get any of the benefits of using a cryptocurrency. It's a solution where the main use case is enabling people to make currency transactions outside the jurisdiction of banks.
I think there are some good use cases for it, like if a currency is unreliable due to corrupt government or inflation. However, the people who get the most use out of it is certainly ransom ware coders, people who distribute illicit goods like drugs and child pornography and finally libertarians that want to make themselves sound clever at a party.