Re:The endless search for a crypto use case
by NhanH on Tuesday August 02, 2022 @12:57PM
(#32321250)
There is a gradient of “being censored”, and not all of it involved being illegal.
In Vietnam, the government does capital control by limiting what bank can do with my money (I can’t request them to send 20k to the US unless I have an approved list of reasons). However, it is not illegal for me to send the money abroad, providing I can do it legally myself. So bitcoin is useful to me
Re:The endless search for a crypto use case
by snapcaster on Tuesday August 02, 2022 @01:36PM
(#32321853)
This is true. "Virtuous liquidity" is the term I've heard used. The same thing is true of Tor right? if the _only_ people using it are bad the usage itself is what gets criminalized. The speculators on crypto likely provide a lot of this
>If what you're doing isn't likely to be censored by authorities then you're being incredibly wasteful by using blockchain
If the wasteful people doing non-crime activities on the blockchain weren't there it'd be incredibly easy for the authorities to crack down. In other words, if the only legitimate use cases of crypto is facilitating crime, it can only even achieve that goal as long as many people are using crypto for the other stuff you think is wasteful.