Hacker News Reader

Comment by jokoon | Hacker News Reader

> After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.

Yes, not even surprised.

The FBI is actively seeking experts who can trace transactions, I'm pretty sure BTC is actively being used to launder money. I really don't see how BTC could be so high.

View on HN

Everything is used to launder money

Anyone who says Bitcoin is used for illegal purposes should be ignored. They obviously are newbies learning about Bitcoin for the first time.

What the hell are you talking about? How is it remotely controversial to say that Bitcoin is used for illegal purposes? Have you ever heard of the dark web?

Cash is used for illegal purposes. Barter is used for illegal purposes.

Bitcoin is being used for illegal purposes. Ramen is used for illegal purposes.

Ban ramen, Bitcoin, prison yogurt, barter, USD.

Bitcoin is significantly easier to track than cash or Ramen. If you want to get rid of illegal Bitcoin transactions you simply need the government to care. But the real risk is the ramen/USD trade, that can't be tracked. Ban Ramen?

You can't exchange physical goods online in order to pay drug dealers.

But physical drugs are moved?

Right...

One way.

How is ramen used for illegal purposes?

Buying drugs(in prison).

I agree that people should be more specific.

Financial crime is not the only possible use of cryptocurrencies, but it is the only use case where it is potentially better than dollars.

artificially enforced scarcity is something I wholly agree with, at anytime in the future the MAX_MONEY could change.

https://github.com/bitcoin/bitcoin/blob/7fcf53f7b4524572d1d0...

Code is not immutable. If there was a algorithm for MAX_SUPPLY immutability that would be something of interest.

Reply on news.ycombinator.com