The difference between regulating cars and regulating crack cocaine is that cars have actual, provable use cases. Even fentanyl has legitimate, real world use cases in anesthesia. And no, money laundering isn't a valid use case.
> And no, money laundering isn't a valid use case.
Working-class folks sending money to their families abroad without predatory middlemen like Western Union, on the other hand, is a valid use case. So is making/accepting payments without being subject to credit card processors playing morality police (or payment handlers like Paypal outright confiscating money from individuals/businesses they don't like).
Real question: have you ever sent money to a third world country? Because I have, both using traditional means and using crypto. And using Wise has been _so much_ easier (5 minutes and money goes from your bank account to their mobile banking account) than figuring out binance's bullshit, and finding a buyer at the other end for the sent cryptocurrency, especially after the "leveraged trading" aka gambling market imploded.
Sorry, your bullshit "but muh African finance!" would have probably worked for less world-aware folks. But not today.
I hope you really are a person deluded by crypto pumper propaganda rather than an intentionally evil pump-and-dumper, and in that case, please take the above anecdote as a real counterpoint to the hopium you've been fed by other pumpers.
> Real question: have you ever sent money to a third world country?
Yes.
> And using Wise has been _so much_ easier (5 minutes and money goes from your bank account to their mobile banking account) than figuring out binance's bullshit, and finding a buyer at the other end for the sent cryptocurrency, especially after the "leveraged trading" aka gambling market imploded.
And yet plenty of people figure it out nonetheless. Maybe they're better able to grasp the technology? Or perhaps simply more motivated to do so?
> Sorry, your bullshit "but muh African finance!" would have probably worked for less world-aware folks.
Sorry, your bullshit "but muh pump-and-dumpers" would have probably worked for less socioeconomically-aware folks.
I hope you really are a person deluded by the legacy financial system's propaganda rather than an intentionally evil beneficiary of said legacy financial system, and in that case, please recognize that anecdotes do not meaningfully refute even so much as others' anecdotes, let alone actual facts.
Yeah, bad example. I do know plenty of people (non-Americans sending money home from here) that are absolutely using crypto in this generally legit and intended way.
