Bitcoin/Crypto Investment/Trading

While I agree that BTC was basically designed to get around financial controls (usually controlled by Govts) there would be some value in having some BTC in a country experiencing high inflation, corruption, and crime.

Nigeria would be a good example.

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70% of the “price” of BTC is basically wash trading.

BTC basically depends on suckers (new entrants) to keep the price up.

As a store of value, it is rather poor option for the vast majority of humanity.

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Yeah but they don’t have to use crypto. There are countries that peg their currency to other countries or accept multiple forms of currency (I’m thinking of all the Caribbean islands accepting US dollars along with their own form of currency)

I don’t think a crypto ban would halt drug trade or money laundering

But it would make laundering less efficient

I’m okay banning something that doesn’t have much utility outside of criminal activity. Probably should have been done before it became an investment vehicle

IMO one of the main purposes of BTC was to socialize the transparency of and permanent tracking of all transactions. Cryptocurrency is not going away for this reason, in fact it’s just getting started. Sure, BTC itself will be expendable one day. Perhaps soon.

Nobody was asking for that.

I agree that the underlying technology is interesting, and may eventually find a use. But that use is unlikely to be in currency, and really nobody’s found a use for it yet.

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Brothers conspire to nab $25M in crypto, wow.

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Not bad for 12 seconds.

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I’m cackling

I thought blockchains were supposed to be impervious to this type of stuff

Flush this tech down the toilet

I think it’s funny that so many crypto bros are all ‘we don’t need the government OR your government money.’

And now they’re all ‘hello, department of justice? Got a case for ya.’

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