alt Hacker NewsThat is just an observation, not an argument against building, improving, and using crypto.
Cryptocurrency doesn't need to do everything for everyone at all times to be a useful thing to have in the world. It only needs to be helpful to a subset of people, in a subset of situations, some of the time.
I'm happy paying by card for ~100% of my daily transactions, but I want cryptocurrency to exist should the need arise. The rise of authoritarian governments and policies across the world should've made that obvious by now. What's legal and perfectly moral today can become a crime tomorrow.
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But cryptocurrency enables more abuse, more victimization, today. And the problems with authoritarian governments a) cannot actually be solved by introducing cryptocurrency; that only enables some people to work around them; and b) cannot even be worked around with cryptocurrency for the majority of people: only those who are already relatively wealthy have access to the systems that enable that.
You don't solve the issue of authoritarian governments with crypto, though. I haven't seen China collapsing exactly since 2009.
Instead, you give criminals a tool for crime. And gamblers a new casino.