Fair enough. But Leroy McLibertarian in Idaho can still deal with Bitcoin and other cryptocurrencies quite safely and reliably and accomplish those tax-evading goals, IF he also has the sense to do a bit of research/due diligence first.
That’s a super-big “if”; it tends not to happen ^^’.
Big “if” with these wannabe John Galts who think it’s magical invisible money.
Inorite xD?!
That said, my point here is that reflexive scorn of Bitcoin and/or assumption of its worthlessness or suitability for a given purpose is exactly as silly as worship at the cryptoaltar. Well-founded criticism or praise, however, never goes amiss.
Personally, I think that removing the power to regulate currency, at least partially, from government’s purview has a LOT of promise but it’s also essentially solvent for all currently known governmental institutions. Now, any solvent in moderation can be incredibly useful, as anyone who’s had an…cough…“incident” with Krazy Glue/cyanoacrylate adhesives can attest, but bathing in solvent will murder you almost immediately =x .
Humans are, however, utterly terrible at moderation.
It’s reflexive only that cryptocurrencies have been demonstrated time and time again by actual subject-area experts to be not as sustainable (economically or financially or in many cases technologically) or as anonymous as their proponents breathlessly declare.
They have a few useful purposes, some of them non-dodgy, but one has to really know what one is doing and accept the effort as a cost of business to make it work.
Crypto-currency makes no sense to me. First thing miners do when they win the coveted BTC is immediately sell it in return for USD – same goes for any company that accepts it. Offload that shit like it’s some kind of flesh-eating virus.
In effect, its main purpose therefore is to anonymize transactions; in my mind, seems like a weak form of money laundering. I don’t disapprove of this in the least, because I think some drugs are cool and should become legal to sell, buy, and use.
I object to the hype – CC is the future! Invest in this now!
The sad thing is that there’s a legitimate need to make a financial system that isn’t gatekept by capitalists but this isn’t the way to do it in my opinion. I think setting up credit unions and other financial cooperatives would do a world of good by comparison to digital ‘asset’ speculation.
Edit: Like I keep asking my friend who loves bitcoin, when will it be viable for the common person to buy their groceries? They never give me an answer.
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