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Comment by fjfbsufhdvfy | Hacker News Reader

So when do we ban cryptocurrencies already? The only use of this crap is crime.

Never, actually. Also you are wrong that the only use is crime. There are literally millions of stories in the last 13 years of cryptocurrency that demonstrate this. But of course keep screaming at the sun if you wish.

Well, many of the especially relevant stories where still illegal.

Sure ethically they where "right" and not illegal from a EU POV, but still illegal in the country they happened.

Besides that most other stories are people getting rich by high-risk speculative investments. But the problem with mass investments into high-risk speculative investments is that they tend to create bubbles which can destabilize the economy, so not really that grate either.

There are a lot of good use-cases for the technology behind crypto currencies.

But much of the current crypto currency landscape is not grate a lot bubbles, a lot pyramid schemes and scams, a lot of things which conflict with money laundering regulations. And many other problems.

I'm fully sure that the related technology (blockchain etc.) will have a future, I'm not sure about crypto currencies like we have them now.

Millions? I'd struggle to name 3.

I couldn’t name 3 baseball players, but that doesn’t mean none exist. It just means I’m ignorant of baseball.

Still "millions of stories" is quite the exaggeration. Or do you count "someone bought and sold crypto coins" as a story?

I'll start: the 10k pizza

It's a (relatively) poor argument, but the US dollar* sure facilitates a lot of crime.

There's an argument that if you want to eradicate a great deal of crime, just change the color of your money, and offer a 1-1 exchange at the bank. An awful lot of dirty money would have to surface, and can be asked about.

*other currencies are available.

You realise crypto is more stable then most developing worlds governments? Does that mean the use only use of 3rd world country money is crime, too? What about iphones that expire after 10yrs of usage and get bricked by the manufacturer? is that a better use of your USD?

really, what is the scam? Cause if u invested in bitcoin 10 yrs ago, u could trade that now for a new car without a sweat. They were right. The cryptobros were right that hedge funds would join the game. And they will be right when you can trade that bitcoin for a house while the iphone sits in history.

> You realise crypto is more stable then most developing worlds governments?

It's not.

Source: "trust me, bro" Here you go, kid:

https://www.statista.com/statistics/326707/bitcoin-price-ind...

https://www.statista.com/statistics/371895/inflation-rate-in...

A great insight would take into account more prominent cryptocurrencies and 3rd world countries but you don't throw pearls before swines.

The claim was "more stable than most world governments".

And inflation isn't the only criteria of stability for a government.

But you're correct about pearls before swine though.

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