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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?
#2Crypto currencies are agnostic to geography.
Re: Ask HN: Are cryptocurrencies good or bad for America?
#3Crypto currencies are agnostic to geography.
While I agree with your basic premise, I think there is some room for debate.
Firstly, regions/geography with cheap power and/or natural cooling are at a clear advantage with respect to payment for proof of work.
Secondly, regions where black markets thrive are at a clear advantage with respect to use and potential liquidity.
(imho)
Re: Ask HN: Are cryptocurrencies good or bad for America?
#4Crypto currencies are agnostic to geography.
Their users aren't agnostic to laws, and laws are determined by geography.
Re: Ask HN: Are cryptocurrencies good or bad for America?
#5If by "America" one is referring to the USA, then I personally think that there are no legitimate benefits.
Re: Ask HN: Are cryptocurrencies good or bad for America?
#6If 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 says they know for sure is very naive. We just don't know what could happen. Perhaps crypto will save us all from a corrupt government.
Re: Ask HN: Are cryptocurrencies good or bad for America?
#7Crypto is good for money laundry and fraud. Not good for America.
Re: Ask HN: Are cryptocurrencies good or bad for America?
#8Crypto is good for money laundry and fraud. Not good for America.
> Crypto is good for money laundry
What about cash? Is cash good for America?
> and fraud
What kind of fraud?
Re: Ask HN: Are cryptocurrencies good or bad for America?
#9Crypto is good for money laundry and fraud. Not good for America.
So far money laundering has been done with dollars and cash.
Re: Ask HN: Are cryptocurrencies good or bad for America?
#10If by "America" one is referring to the USA, then I personally think that there are no legitimate benefits.
If startups can raise money with security tokens then accredited investors who aren't connected (i.e. Angels and VC's) can get in on the action. AngelList left everyone hanging and gave syndicate leads all the power.