I think if anyone from the pro-economic freedom side of things structured an argument the way you have they would be flagged into oblivion here.
>How is that due to regulations? There simply isn't much demand for those types of transactions.
Perhaps there isn't demand because they have been regulated out of the realm of the possible with traditional instruments? There is demand, but you are not aware.
Tips on Twitter,
Tips on Reddit,
Tips in chats,
Tips for streamers,
Tips for bloggers,
Payouts for activity in a browser game (QuakeIII, rougelikelike or others),
Survey response,
Mechanical Turk style microtasks
These are just the few ideas that leap off the top of my head. You fulfill all of the criteria of my initial criticism, a lack of appreciation for the subjective theory of value. Just because you do not value it, are totally unaware of it, or lack the imagination to conceive of it, does not mean that the activity has no value.
>So unless you are the type of hypothetical libertarian who thinks all government is bad while enjoying a standard of living that is only possible in a regulated economy, supporting cryptocurrency as a way of opposing bad laws is nonsensical.
This is where you go off the rails. Consider if I had structured an argument, "Unless you are the kind of commie who..."
I realize that pro-market sentiment is something of a thought crime here on this forum for entrepreneurs, but this is a bit much. As to living in a highly regulated country, don't you think that is a bit presumptuous?
In regards to pro-market sentiments and private property, many have said, "If you don't like it, move to Somalia" I don't know if it is within your powers of imagination, but there are several better options. No, I don't need to show ID (suspicious looking? Imagine that!) to walk up the street. I never needed to show a vaccine card to buy a coffee either. Yes, I am truly suffering by not living in a highly regulated country.
>while providing little additional benefit
Who are you to say? Again, you might not value some of these things. They might not impact your life. Others may. Generalizing it into criminality is just sloppy to the point of the absurd. Although, perhaps that is a privilege for those lacking imagination.
Cryptocurrency does not incentivize ransomware anymore than the Ford V8 incentivized John Dillinger to rob banks. Men act. Cryptocurrency transacts as per the intentions of men. Don't personify the inanimate by misattributing agency. Please seek help if you hallucinate the BTC SVG on your shoulder, "incentivizing" you into a life of cyber-crime.
To counter my argument that cryptocurrecies hasn't managed to do anything better in online payments and has been outgrown...you provide a list of things that are being done without crypto. I would love to see someone make a killer app for cryptocurrencies that isn't just breaking laws almost as much as I would love to see the credit card cartel get properly distrupted, but at this point cryptocurrency has had it's had it's chance and has almost exclusively caused damage rather than create value.
If you think you see a way to change that go do it rather than posturing to me on the internet about a failed technology.
USD has a much better ratio of legal to illegal transactions. If cryptocurrency had anywhere close to that ratio it would be a lot easier to support.
However, in general, I am not a big fan of banning things. I hope that the damage that cryptocurrency is causing can be reigned in without banning it, though I suspect that cross-border jurisdictional issues will make that hard. Ideally, the cryptocurrency community could come up with internal solutions to limit abuse, but that seems unlikely given current trends in that space.
>How is that due to regulations? There simply isn't much demand for those types of transactions.
Perhaps there isn't demand because they have been regulated out of the realm of the possible with traditional instruments? There is demand, but you are not aware.
Tips on Twitter,
Tips on Reddit,
Tips in chats,
Tips for streamers,
Tips for bloggers,
Payouts for activity in a browser game (QuakeIII, rougelikelike or others),
Survey response,
Mechanical Turk style microtasks
These are just the few ideas that leap off the top of my head. You fulfill all of the criteria of my initial criticism, a lack of appreciation for the subjective theory of value. Just because you do not value it, are totally unaware of it, or lack the imagination to conceive of it, does not mean that the activity has no value.
http://pressbin.com/tools/paypal_micropayments/
https://www.nanolooker.com/
>So unless you are the type of hypothetical libertarian who thinks all government is bad while enjoying a standard of living that is only possible in a regulated economy, supporting cryptocurrency as a way of opposing bad laws is nonsensical.
This is where you go off the rails. Consider if I had structured an argument, "Unless you are the kind of commie who..."
I realize that pro-market sentiment is something of a thought crime here on this forum for entrepreneurs, but this is a bit much. As to living in a highly regulated country, don't you think that is a bit presumptuous?
In regards to pro-market sentiments and private property, many have said, "If you don't like it, move to Somalia" I don't know if it is within your powers of imagination, but there are several better options. No, I don't need to show ID (suspicious looking? Imagine that!) to walk up the street. I never needed to show a vaccine card to buy a coffee either. Yes, I am truly suffering by not living in a highly regulated country.
>while providing little additional benefit
Who are you to say? Again, you might not value some of these things. They might not impact your life. Others may. Generalizing it into criminality is just sloppy to the point of the absurd. Although, perhaps that is a privilege for those lacking imagination.
https://en.wikipedia.org/wiki/Subjective_theory_of_value
>What about all the damage it has caused through incentiving ransomware?
>Dillinger was known to prefer Ford's then-new V8 cars for their speed.
https://money.cnn.com/2010/01/24/autos/dillinger_car_auction....
Cryptocurrency does not incentivize ransomware anymore than the Ford V8 incentivized John Dillinger to rob banks. Men act. Cryptocurrency transacts as per the intentions of men. Don't personify the inanimate by misattributing agency. Please seek help if you hallucinate the BTC SVG on your shoulder, "incentivizing" you into a life of cyber-crime.