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A decentralized ledger that does not require government input. No government can mint more crypto due to awful monetary policy. Also, no, money laundering is not possible on most chains since all transactions are public.
Have you ever been through a contentious divorce? Specifically one where the other party is laying claim to assets you earned? In these type situations, an asset that: 1) no one knows you own 2) even if people know you own them, can't be seized short of torturing you to regurgitate the password 3) can be transferred to any person of your choosing and in any jurisdiction of your choosing in a matter of minutes. seems…
For all practical purposes crypto is just another asset class, that gets taxed on capital gains and is registered with centralised exchanges - so 1. Just doesn’t exist for pretty much all practical purposes
Says you.
You can buy crypto person to person. The transaction isn't registered on any exchange.
You can mine it. Nothing gets registered anywhere.
If you choose to buy cryptos on regulated exchanges (why would you ?), bear the consequences of your choices.
Have you ever been through a contentious divorce? Specifically one where the other party is laying claim to assets you earned? In these type situations, an asset that: 1) no one knows you own 2) even if people know you own them, can't be seized short of torturing you to regurgitate the password 3) can be transferred to any person of your choosing and in any jurisdiction of your choosing in a matter of minutes. seems…
For all practical purposes crypto is just another asset class, that gets taxed on capital gains and is registered with centralised exchanges - so 1. Just doesn’t exist for pretty much all practical purposes
Problem of a coordination, google it
https://twitter.com/sweis/status/1049047164117078016
IMO the main use case is a decentralized currency that isn't centralized by any specific government (but may be, given enough power). Also things like escrow in a 0 trust system are possible.
That being said, like everything, there are _massive_ tradeoffs to this. Almost nobody actually needs this. IMO buying and selling drugs on the internet was one of few actual use cases, whther "right" or not.
Earlier quoted context omitted.
For all practical purposes crypto is just another asset class, that gets taxed on capital gains and is registered with centralised exchanges - so 1. Just doesn’t exist for pretty much all practical purposes
And for 2 they can just take other assets in lieu and/or stick you in jail for non-compliance.
Assuming you have any other or the bulk of your net worth is not stored as crypto.
A decentralized ledger that does not require government input. No government can mint more crypto due to awful monetary policy. Also, no, money laundering is not possible on most chains since all transactions are public.
> Also, no, money laundering is not possible on most chains since all transactions are public. Citation needed — as far as I know there are cryptocurrencies where this is not the stated goal. Also public does not equal no money laundering, because the transactions are at least pseudonymized. Dubious sales on the darknet were literally the real world problem that made cryptocurrencies what they are today.
People have always found alternatives, for example in South Korea index option trading was historically popular. In the United States it was originally illegal online poker, now single stock options are popular. In Europe trading FX was once popular.
Many of these outlets that either replace or augment gambling have now been supplanted by crypto trading. In many markets you can actually see how declining activity in one aligns with increasing activity in crypto.