Comment by fabioborellini
1 day ago
The decentralised mode never interested general public, even though it was mildly interesting as an idea to skip hierarchical trust. The established use of crypto is exclusively money laundering and investment scams, made usable for general public though use of centralised exchanges. The crypto isn’t important, it is just an excuse.
You are not wrong that secret ingredient is crime, but I think the single largest use of crypto out there is tax evasion. When traveling Asia in 2025 I've met several people who worked for western companies and got paid in tether. Western companies pay flat consulting that avoids payroll taxes / etc and employees skip taxation from whatever country they are in. On the trading side we have ETH wrapping everything and enabling trading of most financial assets.
Yea I just don't see any real benefit and it has been almost 20 years. This is why I immediately lose respect for anyone who still peddles crypto even though there were some well meaningful people in early days.
People in countries with crazy inflation can use usdc wallets to avoid the inflation. Plus pay for US goods like a Netflix subscription without losing 30% on the exchange.
As the decentralised crypto experiment shown us, hierarchical trust has its benefits.
Well as I got older I understood that what anarchy-libertarians are saying is not what they think.
When I was younger I thought they really are against hierarchy and that society should be equal in all aspects.
But as it turns out, they are against current hierarchy as they don’t have much to say in this setup. But once they would get to be “in” and calling shots that’s where their world views change.
dont forget buying drugs ;)
Most people just buy drugs with regular money.
The one class of purchases that you really don’t want immortalised in a public ledger, right?
My wealth may be decentralized, but my body is in one location and pretty vulnerable to the 5 dollar wrench. Putting some emergency money in a foreign bank account and a bag is a much better option if I wanted to flee a country.
these randoms assuming foreign banks accept every human is really funny, enjoy your bubble and ignorance. There are normal people that cant even have a bank account in their homeland.
"There are normal people that cant even have a bank account in their homeland"
And I feel for them but 2 wrongs don't make a right. Crypto is not the answer for that problem.
> There are normal people that cant even have a bank account in their homeland.
And approximately none of these people's problems have been actually solved with cryptocurrency.
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And, how, do these disenfranchised / persecuted people turn their not-in-the-bank money into WhateverCoin ?
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> these randoms assuming foreign banks accept every human is really funny,
Did I imply that? Creating a bank account in my country is an adventure on its own. If I got 50 USD in my wallet, I can exchange it somewhere and pay for food and whatever. My crypto account requires a computer, an internet connection, and someone willing to take it (no one around here).