It’s just so difficult not to be excited by it when one has their ‘bitcoin fixes this’ moment. Lot’s of folks will never have that moment. The folks that do are envisioning a very different future. Immutable Truth in an ‘Alternative facts’ world has value. Verifiable Scarcity in a copy paste world has value.
Sure. That is still illegal by definition. And not particularly good argument for investment. The best argument is: It is going up, and others seem to like it.
Holy fuck, you are making a double mistake. 1. I was arguing that if something is against the law in a country, that is by definition, illegal. 2. Just because the dollar can be used illegally, that doesn't mean bitcoin can not be. Really not that hard to get.
So we have a language problem here. The following 2 sentences don't mean the same: 1. Criminality is the most practical application of cryptos. (I said) 2. Cryptos are the most used application for criminality. (you understood)
Agree. That's all true. However, unfortunately, legality does not necessarily imply morality. Although that probably sounds like some pathetic self-serving nonsense an antifa rioter would say as he smashes the window of a Foot Locker to grab a free pair of Jordans, I think it's true and at some point, I think (hope I'm wrong about this) you'll what to protect what others try to steal from you. The median household net worth in the US is around $97,300 (https://www.marketwatch.com/story/whats-your-net-worth-and-how-do-you-compare-to-others-2018-09-24). If your wealth is significantly higher than that, what stops the majority from simply voting away your wealth through wealth taxes? There are many ways for socialists to rationalize doing that. They can simply make it illegal for anyone to have a net worth of more than $97,300. At that point, I can see a use case for Bitcoin and other cryptocurrencies to be a last-resort for preserving wealth. But if Bitcoin significantly starts to compete with fiat, governments will most likely ban it or make it difficult to own / trade.
Bitcoin has more lives than a cat. It’s cut it’s teeth in an adversarial environment, is permissionless and distributed. Given the failure of the ‘war on drugs’, governments could certainly try but they won’t stop anyone from owning some if they want to own some. https://99bitcoins.com/bitcoin-obituaries/