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by haburka 3283 days ago
It's not at all like "you don't need privacy if you've got nothing to hide."

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.

2 comments

Do you own a business? Or..have you? Are you familiar with the advantages for legal and ethical businesses from blockchain?
No I am not familiar with any advantages from using cryptocurrency as a business. I only know that you can avoid PayPal fees by using Bitcoin, but this also means that the customer has no protection of you don't deliver the product.
there are many many benefits to blockchains and cryptocurrencies that aren't covered by things being illegal.

For one, when I try to transfer money between banks it takes like a week. When I transfer ether it takes 15 seconds. If you'd like, I'm happy to provide a longer list of more examples, but illegal activities are far from the only reason to use cryptocurrency.