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[–]ImHereForFinance 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (5 children)

We should make a stock market backed cryptocurrency allowing us to trade shares of the sp500 as cash. by turning the stock market into a component of currency it may be nationalized.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

The whole point of cryptocurrency is to commit crimes without the government or a central bank being able to stop you.

[–]ImHereForFinance 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (2 children)

I would say the purpose of a currency is to be a stable source of value and a means of exchange. Further most criminal transactions occur in cash.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Further most criminal transactions occur in cash

This is true in my experience, I have never purchased anything illegal with crypto. Although one advantage it would have is that if I were arrested for anything and I had more than a hundred bucks in cash, the cops just seize it civil forfeiture style. Cops love legally stealing cash.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

the purpose of a currency is to be a stable source of value

The last time I checked, rapid deflation isn't exactly the definition of stability.

most criminal transactions occur in cash.

Most transactions in cash are legal, meanwhile most transactions in cryptocurrency are criminal — or at the very least immoral. It's like saying New York has a worse crime problem than New Mexico just because it has a larger population, even though NM's crime rate is much higher.