Can I buy a pizza with it or pay my bills with it? Can my employer pay me in it? Or is it just an “emperor’s new clothes” thing? I just don’t see the tangible value in it. Rhetorical questions, BTW, I know you can’t buy a pizza with it, at least outside of some edge cases that I’m not aware of.
I thought what made money money was everyone agreed it was valuable and was willing to exchange it for goods and services directly. I don’t see that with crypto.
Money laundering, it’s really good for that
Apart from privacy coins like Monero, it’s all traceable
Good luck tracing coins that I bought for cash from John Shadyman who can’t give half a shit about KYC.
Spend some time looking into how the FBI traces wallets. It’s pretty easy, and it’s that at some point, John Shadyman’s wallet gets tied to people tied to you. The entire Privacy community considers cash better than every crypto other than Monero.
Also btw.
If I visit Shadyman twice and see that I’m getting coins from the same wallet, I’m gonna find another guy. That’s a pretty obvious thing to do.
Any pointers other than “go read some internet”? That’s a rather broad reference.
What “people tied to you”? I use the coins to pay some 1337Cr1m3L0rd, with neither of us ever catching a remote semblance of knowing who the other one is. Or, move them to Pierre LeCrook, who’s again giving out cash without asking questions. Shadyman and LeCrook are actually the closest links to me, but again good luck proving that I went to their house and received coins for cash or vice versa.