Comment by tgv
5 hours ago
First, a French judge has no power in the US. Second, Bitcoin is utter shit: it is not sustainable and mainly used to prop up criminals. Third, if money can be hidden and taxation becomes very difficult or impossible, society will collapse, and the "elite" loses its position. Bitcoin is not an alternative.
Cash is more anonymous and less trackable than Bitcoin and the society didn't collapse.
You can't get (much) cash without the transaction being traced or criminal in many countries. There's a limit to legal cash transactions.
Arguments about amount are immaterial to me. Cash transactions of say $500k are physically doable in many systems.
And cash transaction don't require burning the Amazon, of course.
Then why should we use bitcoin?
Cash is a bit bulky and can't be sent over fiber.
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Because it’s faster, easier, safer and cheaper to transfer large volumes of capital than say loading a plane with gold or sending a bag of cash.
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Cryptocurrencies work fine. If the debanked were to use them, they would find 90% of their restrictions lifted immediately and without permission from anyone.
No, society will not collapse; it will stabilize. There are many forms of taxation, e.g. property, tarrifs, etc. that are unaffected.
Those who call Bitcoin utter shit always have an agenda and insecurities rooted in a feared loss of status.