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Ask HN: Are cryptocurrencies good or bad for America?

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Re: Ask HN: Are cryptocurrencies good or bad for America?

#11
post #6

If you're talking about the US today, it's hard to say for sure. We don't know what people are using them for with much accuracy or precision. A major use seems to be to commit fraud or as a risky speculation vehicle. We also know they've replaced cash in a tiny portion of the black-market economy. Like everyone else, I have almost no data, but my guess is that it's net "bad" right now. As for the future, anyone who…

There are quite a few local businesses near me that prefer to take cash. They say it's because of the credit card fees. Maybe it's because they don't want records that the IRS can subpoena at some point?

A distributed ledger is hardly anonymous.

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