I know too many people who aim to become millionaires off of btc and then move to countries without cap gains tax. I feel their sentiments are held by a large constituent.

Crypto is also a white supremacy tool: https://www.economist.com/united-states/2022/02/05/the-charm...

The flipside viewpoint is that cryptocurrency bypasses censorability by large corporates; cryptocurrency embodies the freedoms that appear to be espoused so loudly and delightedy by "the US"^.

Guns = good

Cryptocurrency = bad

Opinions I agree with = good

Opinions I disagree with = bad

Me getting mine = good

Someone else getting theirs = bad

Censorship is the battleground issue for the 2020's.

^Apologies for the lumping of 300 million people into a single sentence description, it's for the sake of trying to make a point of the entanglement of "the US" and "freedom" - which isn't a bad thing.

Yeah, that's why Bitcoin grows fastest in Africa.

Lots of tools that are useful for marginalized groups are also useful for marginalized groups that want to spread hate. Same goes for the internet. It was hard in the beginning on internet mainstream (late 90s/early 00s) to find any community that didn't have a bunch of racists and fascists in it as well.

> In reality, crypto's true purpose is a moving target, so it can never be criticized because that's not what crypto is really about.

Bitcoin is a tool. Like hammer or a shotgun. You can use it whatever way you want. There is no centrally defined "purpose".

This is the Adolf Eichmann defense. Trains are just tools, and he was making them run on time.

Any infrastructure has a purpose. It’s fair to ask why Bitcoin exists and whose project it is.

And it's official, Godwin's Law [0] has reached crypto. The purpose of Bitcoin is of course to support the Nazi cause. What other purpose could it possibly have? /s

Hint: Millions of people use Bitcoin as a:

- store of value to protect purchasing power over time

- inflation hedge to protect savings from the ravages of inflation

- a hedge to protect against corrupt governments manipulating currency

- protection from negative real interest rates

- censorship-resistant payments

- anonymous payments with instant finality (Lightning)

Money is a tool like any other. Cash, gold, NFTs, Bitcoin, and credit cards can be used for good or evil, lawful or unlawful purposes. The technology isn't inherently moral or immoral. It is just a tool.

The "it's really for nazis" argument is particularly weak. The critics must be getting desperate.

[0] https://en.wikipedia.org/wiki/Godwin%27s_law

This is the first time you hear "Bitcoin is for nazis"? You're lucky, I guess. It's a pretty common accusation because many Bitcoin advocates are also far-right and/or extreme libertarian.

Anyway, I'm not saying that. Eichmann is simply a reductio ad absurdum example of the problems with the "it's just a tool / technology has no moral" position.