Most crime is conducted in fiat money.
Fiat money, unlike crypto, have lots of non-criminal uses.
Given a government reflecting the will of the people, anything you need crypto for is de facto antisocial behavior
i think it's nice to have a plan B for when the governments idea of criminal doesn't line up with my own so much
You don’t think they’ll declare crypto illegal? Or owning it? Or using it?
... like now?
The only application I can even think of where cryptocurrency is actually better than fiat is ransomware. Actually I suppose any kind of ransom payment might benefit from using crypto, as there's no risky physical cash handover for police to intercept. Seems like it could be equally useful for kidnappers as ransomware hackers.
But I can't think of single non-ransom transaction where fiat isn't better than crypto. Legal or otherwise.
For example when buying illicit substances, I don't see why I would want to pay extra to make the transaction traceable and public?
Crypto has uniquely allowed the huge uptick in ransomware.
Before they had to figure out some way to get paid using the banking system without getting caught. These days maybe they would be asking for $50 million in iTunes gift cards, I don’t know. But it was a hurdle.
Once Cryptocurrencies started to get well known ransomware embraced it incredibly strongly. A far far more anonymous payment method that any random company or person could pay through?
Seriously. https://static.wixstatic.com/media/9e72ec_52b812bb082b4fdebd...
You think that’s just a coincidence? Crypto is a huge driver for the ransomware industry.
https://jdsupra-html-images.s3-us-west-1.amazonaws.com/85dd2...
BC was very esoteric in 2010 or 2012. I imagine it would have been impossible for average businesses to actually get the crypto to pay with.
By ~2016 that was far easier for your average joe.
In comparison, it’s estimated that Americans spend about $10T per year. I don’t have the numbers worldwide but America is a big piece of the cake.
So, speculation is vastly higher than regular spending, even for “regular money”.
in the US, banks will question you if you try to withdraw your own cash from your own bank account past a certain limit set decades ago and never adjusted while the dollar continues to lose value.