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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What?? Is anyone still buying that?? Nuts.[/quote]

Blackrock is apparently. Guess those guys are clueless.[/quote]

What are some use cases for crypto that are legal and perform better than status quo system?[/quote]

The illicit demand for something doesn’t in and of itself make holding it a bad investment, it’s still demand and still has impact on the price. Physical cash and occasionally gold bullion are used in illicit transactions but that doesn’t mean you become a criminal for owning these assets.

One use case that doesn’t apply as much to the US but has applied recently to other countries is capital flight. Bitcoin allows someone to leave a country with very large sums of money and they only need to memorize a 12 word seed phrase. There was a surge in BTC purchases in Russia in the initial days of the Ukraine war by people wanting to leave. This can be useful in other countries with authoritarian governments and we’ll probably see more of this activity in the future.

Additionally, in countries that suffer from hyperinflation there have been folks using bitcoin and other non fiat currencies to protect their wealth. There have been dozens of cases of hyperinflation in the past century so it’s not an unimaginable scenario (maybe it is for Americans, but who knows). You could argue they should just buy a more stable currency like USD but in some cases it might be easier to use crypto since it circumvents the banking system.[/quote]

Your first use case is an illicit use to circumvent a home country's laws. Your second use is silly, as bitcoin is incredibly bad at maintaining value. Keep shilling. [/quote]

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