[JumpCrisscross]

> Banks will be hurt by crypto

Anyone saying this is talking bollocks. Wall Street hasn’t seen a bonanza like crypto since ‘06. Hedge funds are having their best fundraising years since the 80s, largely on the back of crypto-related trading.

The best balance I can come up for crypto is to mandate KYC at all on and off ramps, tax its trading like the luxury good it is (maybe using the proceeds to fund law enforcement around scams) and ban or surtax mining using American power sources. (Let others spike their power prices and pay us for it.)

[ramesh31]

>The best balance I can come up for crypto is to mandate KYC at all on and off ramps

That would drive the value basically to zero, since the entirety of all crypto market caps are based on their ability to facilitate digital crimes.

[JumpCrisscross]

One, KYC in America does nothing for the rest of the world. Two, we know that’s not true. The aforementioned hedge funds could keep the flywheel going on their own.

[ramesh31]

You're implying that the hedge funds aren't involved solely to get a piece of the racket

[Karunamon]

Do you have a single fact to back up this extraordinary claim?

[ramesh31]

>Do you have a single fact to back up this extraordinary claim?

Name one single use of Bitcoin that legitimizes the trillion dollar market cap, and that fiat currency doesn't provide in a safer, more legitimate way. The "sneaking across the border with my life savings" scenario doesn't count. That has nothing to do with the current market cap of Bitcoin.

[Karunamon]

Taking that as a 'no', then. Please back your own claims.

[JumpCrisscross]

> Do you have a single fact to back up this extraordinary claim?

Which claim?