This part takes the least to claim the worst isn’t here. Akin to saying Al Capone was “just doing dishes” when he was arrested, why would you.
There are various illegal parts: Creating a currency for example. But even if one can walk around the definition of a currency, exchanging it for dollars is most probably questionable: You give banknotes to someone in exchange for a token which you don’t know how it was obtained. In most cases, it is facilitating drug exchange and hitmen, so, unless one can prove where a Bitcoin comes from, I’m surprised it is even legal to exchange it for tender money.
The whole thing should have been sued from the start.
> You give banknotes to someone in exchange for a token which you don’t know how it was obtained.
It doesn't matter how it was obtained.
> In most cases, it is facilitating drug exchange and hitmen
Oh... Just like USD then.
Why don't you go after them for those crimes? Without coopting us into your warrantless global surveillance network?
> unless one can prove where a Bitcoin comes from
That it is even possible to prove that is actually a failure of bitcoin's design. Thankfully Monero fixed it. Money should be fungible. There should be no dirty/clean bit attached to coins.
There's a huge difference between physically transporting a large amount of cash and disposing of it usefully without being detected versus electronically moving it around the world and exchanging it for fiat currency entirely anonymously.
Here's a clue: one of those is hard to do and massively increases your risk of being caught, and the other actually enables further criminal activity which would not otherwise be easily possible.
The original purpose of cryptocurrency was to replace fiat by getting everyone to use it for their transactions. People would be pricing things in bitcoin or monero instead of USD.
Bullshit? It's the government currencies that are bullshit. You're replying to someone who lives in a country that actually went through several currencies. They became so worthless they had to be replaced. If you search "Brazil" here on HN you'll find the top post is about how "fake money" saved my country. They essentially tricked everyone into believing this time was going to be different. I'm sorry but I don't believe these people for a second. And neither should you or anyone else.
There are various illegal parts: Creating a currency for example. But even if one can walk around the definition of a currency, exchanging it for dollars is most probably questionable: You give banknotes to someone in exchange for a token which you don’t know how it was obtained. In most cases, it is facilitating drug exchange and hitmen, so, unless one can prove where a Bitcoin comes from, I’m surprised it is even legal to exchange it for tender money.
The whole thing should have been sued from the start.