Ask HN: Are cryptocurrencies good or bad for America? - bbimbop
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smt88
If you're talking about the US today, it's hard to say for sure. We don't know
what people are using them for with much accuracy or precision.

A major use seems to be to commit fraud or as a risky speculation vehicle. We
also know they've replaced cash in a tiny portion of the black-market economy.

Like everyone else, I have almost no data, but my guess is that it's net "bad"
right now.

As for the future, anyone who says they know for sure is very naive. We just
don't know what could happen. Perhaps crypto will save us all from a corrupt
government.

~~~
dick_sucker2
There are quite a few local businesses near me that prefer to take cash. They
say it's because of the credit card fees. Maybe it's because they don't want
records that the IRS can subpoena at some point?

A distributed ledger is hardly anonymous.

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pippolong
Crypto is good for money laundry and fraud. Not good for America.

~~~
stupidgeek314
> Crypto is good for money laundry

What about cash? Is cash good for America?

> and fraud

What kind of fraud?

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uberman
If by "America" one is referring to the USA, then I personally think that
there are no legitimate benefits.

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ddtaylor
Crypto currencies are agnostic to geography.

~~~
uberman
While I agree with your basic premise, I think there is some room for debate.

Firstly, regions/geography with cheap power and/or natural cooling are at a
clear advantage with respect to payment for proof of work.

Secondly, regions where black markets thrive are at a clear advantage with
respect to use and potential liquidity.

(imho)

