alt Hacker NewsCrypto makes perfect sense if you just understand it's for doing illegal stuff.
No moral judgement, but the only viable use case for the blockchain is doing things with money that the authorities don't want you to do.
Other than that, no, there is no use for a distributed database because doing financial transactions with people you can't even trust to abide by the law is generally a bad idea.
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This utility is what helps stabilise its value, but the side effect of that is that it is a good store of wealth. These two facts make BTC go up. People say Bitcoin isn’t used for anything when in reality it’s being used every day to store and move wealth between big financial players (many of them being organised crime). Why wouldn’t they continue using this useful technology and therefore why won’t its value hold/increase? Is it moral to piggy back off this? That’s for you to decide. It’s worth considering that many major banks have been involved with organised crime since forever…
You're clearly someone who doesn't agree with the quantitive theory of money.
> Crypto makes perfect sense if you just understand it's for doing illegal stuff.
What happens when a country's banking system fails?
I am a dual citizen. I wanted to buy a condo near my parents where I spend my summers with my family. I have never in my entire life felt like a criminal more than trying to buy something, with the money I made with my wife, going through regular financial system. after weeks of feeling like a criminal over coffee with my cousin who owns the company that was selling me the condo I was like “can I just fucking give you two bitcoins on a thumbdrive…”
I would never own a crypto but working with the current financial system can make you feel like a criminal more than crypto at times… :)