Hacker News new | ask | show | jobs
by betwixthewires 1669 days ago
> ...(besides crime)

First you have to define "crime." If by "crime" you mean "any activity outside the purview of regulatory authorities" then you're defining everything that isn't a bank account as crime. It is circular logic. "Its only use case is crime because using it is crime." If you more narrowly define crime as criminal acts besides just unregulated financial activities, then you can start to see the value proposition.
1 comments
keyanp 1669 days ago
That is a straw man. This is not my definition of crime, I was thinking things like money laundering, tax evasion, ransomware payments, and blackmarket purchases.

I'm genuinely not sure what a use case for unregulated financial activity would be that doesn't fall into those buckets.

Someone mentioned retaining assets in countries with hyperinflation. To me it appears a central bank digital currency would be more appropriate there.

link
betwixthewires 1668 days ago
A straw man? I just wanted a definition of "crime".

"Blackmarket purchases" has the same problem "crime" does, it's self supporting.

link