Feds arrest couple, seize $3.6B in hacked Bitcoin funds

Re:Feds arrest couple, seize $3.6B in hacked Bitcoin funds by lowkey on Tuesday February 08, 2022 @04:10PM (#30264746)

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

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Re:Feds arrest couple, seize $3.6B in hacked Bitcoin funds by pavlov on Tuesday February 08, 2022 @04:46PM (#30265217)

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.

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