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Letter in Support of Responsible Crypto Policy

26 pointsby nochalmost 3 years ago

4 comments

astooralmost 3 years ago
The problem is that any "legitimate" use case is negated many times over by all the illegitimate ones. It would be like saying let's legitimise terrorism because sometimes the terrorists might (just might) be freedom fighters, when in actual fact terrorism on the whole does way more harm than it does good. In the opening example, sure some money may have got through to Ukraine via cryptocurrency (although some was stolen by scammers pretending to be Ukraininans, and more much money was transferred more securely and efficiently through traditional means), but any good that did was completely undone many times over by Russia's use of cryptocurrency. Put politely, cryptocurrency is a net negative for our society and environment (by a considerable margin).
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vesinisaalmost 3 years ago
What&#x27;s next? Letters in support by money launderers, drug cartels, online scammers, ransomware authors and pedophiles?<p>El Salvador made it a government policy to adopt Bitcoin as an official currency and it is not going too well - it remains a novelty used by just a few privileged individuals. As these technologies are not viable for everyday use, a country with unstable local currency will in reality start using USD or EUR based shadow banking instead of BTC&#x2F;stablecoins. This is most recently evident in Turkey where people moved to EUR &amp; USD after lira&#x27;s collapse in late 2021.
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jagged-chiselalmost 3 years ago
Cryptocurrency policy. Not encryption policy.<p>Yes, I’m still having this problem.
jkarnialmost 3 years ago
I played a lot of chess as a kid. The story of Kasparov beating the pawn-of-the-regime Karpov was quite thrilling then. Strange twist that he became a pawn of ultra-capitalism - Peter Thiel, cryptocurrencies, NFTs [0], all under the guise of morality. Sad.<p>[0] <a href="https:&#x2F;&#x2F;www.euronews.com&#x2F;culture&#x2F;2021&#x2F;12&#x2F;14&#x2F;garry-kasparov-leads-new-nft-auction-of-star-collectibles" rel="nofollow">https:&#x2F;&#x2F;www.euronews.com&#x2F;culture&#x2F;2021&#x2F;12&#x2F;14&#x2F;garry-kasparov-l...</a>
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