this post was submitted on 14 Aug 2025
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Crypto mogul Do Kwon, known as ‘the cryptocurrency king,’ pleads guilty to fraud charges (apnews.com)
submitted 3 days ago by Davriellelouna@lemmy.world to c/technology@lemmy.world
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[–] Alphane_Moon@lemmy.world 2 points 3 days ago (1 children)

I've heard such arguments before, I don't find them convincing in the least. I don't believe you've thought this through.

You bring up cash? So what? You can use banks for crime as well. I believe one of the major US companies that got rescued in 2008 had several billion USD on the books that no one came to pick up because of disclosure rules.

And that's just the tip of the iceberg, there are multiple massive red flags with your arguement that don't require specialist education/experience/knowledge.

[–] bestboyfriendintheworld@sh.itjust.works 1 points 3 days ago (1 children)

Yes, banks are used for crimes on a massive scale. Usually that’s not available to small time people.

Crypto can be used for criminal activity with a low barrier to entry. There are several use cases where things maybe should not be illegal in the first place. Like buying drugs for example.

[–] Alphane_Moon@lemmy.world 3 points 3 days ago (1 children)

Banks too are available for crimes for "small time people" if you know what you are doing.

The direction of this discussion is a red herring. My point was that beyond financial speculation and crime/fraud, crypto has no viable (not purely theoretical) use cases.