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681 points Anon84 | 1 comments | | HN request time: 0s | source
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phplovesong ◴[] No.46190528[source]
The original promise of crypto was lost a LONG time ago.

Instead of being a true rival to FIAT, it became a thing with a toxic-as-hell commumity, fraud, and basically its nothing more than a high risk stock. The risk is NOT only "will this go up or down" but you have a high risk of being robbed, as have happened to millions of people.

Maybe there will be a better alternative in the future, but right now bitcoin is not it.

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amelius ◴[] No.46190719[source]
To add to that, crypto is also a gift from heaven for criminals who need to receive ransoms.
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bleuuuu ◴[] No.46191569[source]
Not true by any means. Fiat is the tried and true way to commit crime. Having transcations on a ledger forever, works against your criminal take. You are just repeating.
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1. lxgr ◴[] No.46195343[source]
Taking possession of the ransom without getting arrested/physically followed by the police is what foils most kidnapping plots [1], and cryptocurrencies definitely address that part.

Criminals don't really need strong anonymity as long as the payment system has strong censorship resistance and at least one counterparty won't mind accepting "tainted" funds.

Arguably, privacy is much more important to non-criminal individual users as they themselves can be targeted by criminals as a result of their income/holdings being globally visible, and unlike organized crime, they often have less means to protect themselves from $5 wrench attacks.

[1] Source: I watched many crime thrillers growing up