> With fiat, only the banks (or the governments) can see transactions. If I was to say there is some good thing, I would say that is a new innovation that hasn't been possible before.

What do you mean it hasn't been possible. It's absolutely possible. We don't do it because no one wants to advertise how much money they have and who they give it to, unless compelled by a specific reason.

> Cryptocurrency also does enable new illegal activities that weren't possible before, so there are definitely pros / cons, but I would say there are pros / cons to fiat as well.

So the pros are things we could do (publish our private transactions), but we don't want to, and the cons are things we could do (blackmail each other), but we don't want to.

Lol, great.