this post was submitted on 07 Jun 2024
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Crypto
Unstable, and mostly used for speculation or illegal activity. Ew.
for now
Forever until a powerful state starts to charge taxes in crypto.
Technically, at least where I live in Canada, you have to pay taxes on crypto income and capital gains. It's possible for goverments to track crypto transactions.
That being said, if you think normal fiat currencies are without crimes and illegal activities, you're kinda stupid.
I'm not talking about the current way, I'm talking about the possibility of a privacy-focused crypto, issued by the state, where transactions can be made private with the Blockchain. This crypto, as it would be used for normal transactions, wouldn't have more variability or speculation than the variability and speculation in converting US Dollars to UK Pounds. The post talks in hypotheticals, I do too.
I don't think fiat currency isn't used for illegal activity, I think crypto is mostly not used for normal transactions.
Yes, that's exactly what I think too. Cryptos and blockchains are good ideas and technologies.
Once one powerful country adopts and controls it (maybe create it themselves?), I assmune many more will too.
And then, everything will use crypto.