This argument is not valid.
What about the drug dealers selling their stuff for cash?
I can do the same argument about fiat money.
What about the tax dodgers crossing borders with suitcases full of cash that will end up in some offshore bank never to be seen again?
The fact that some people use bitcoin to launder money is no different than a government paying a ransom to free a hostage in a hostile country.
`The banking system, for all its issues, makes collecting and moving large amounts money around very difficult`
That is why cryptocurrencies exist in the first place!
If I have money, that I have already paid taxes on, shouldn't I be free to do whatever I want with it without having to answer to a bank or a government like I am some kind of child that needs to be chaperoned? Why can't I use what is mine without restrictions?
Banks don't mind doing their dirty business deals behind closed doors and will deter anyone to look into their questionable business practices but for some reason, me, the average Joe who doesn't have lawyers on retainer to keep everybody at bay, I should be required to leave my money in a bank and hope that the banks are not going to lose it all like they did in 2008?
That doesn't make sense to me.
What about the drug dealers selling their stuff for cash?
I can do the same argument about fiat money. What about the tax dodgers crossing borders with suitcases full of cash that will end up in some offshore bank never to be seen again? The fact that some people use bitcoin to launder money is no different than a government paying a ransom to free a hostage in a hostile country.
`The banking system, for all its issues, makes collecting and moving large amounts money around very difficult`
That is why cryptocurrencies exist in the first place!
If I have money, that I have already paid taxes on, shouldn't I be free to do whatever I want with it without having to answer to a bank or a government like I am some kind of child that needs to be chaperoned? Why can't I use what is mine without restrictions?
Banks don't mind doing their dirty business deals behind closed doors and will deter anyone to look into their questionable business practices but for some reason, me, the average Joe who doesn't have lawyers on retainer to keep everybody at bay, I should be required to leave my money in a bank and hope that the banks are not going to lose it all like they did in 2008?
That doesn't make sense to me.