Trying to regulate crypto is like trying to regulate the internet. There are some good attempts, but by using different routes we can circumvent (even in china). Blocked by firewall, use cell, blocked cell towers, use satellite, block satellite??? With crypto, regulate one, fork it, change the network, make another... change the route... use a different crypto/fiat vendor. Good luck.
Right on anonymity, but users doen't care... they just need the "perception of anonymity" or good enough. If you watch teenage trends, it's a great predictor of the near future.
Consider the teen buying weed with the choice of fiat or crypto. On their child bank account under their parent, even if they use cash, those withdrawals raise questions. But that same teen who tells their parent, yeah I just put $300 on coinbase for crypto. Now that teen can use funds without their parents knowing. Sure the trail can be traced back with some work, but it's really hard for the parent. And by trading crypto for cash outside regulated exchanges, it becomes increasingly difficult to unwind anonymity. Now reread this paragraph swapping out teen for average citizen, parent for government, and buying weed for sending money to support mom.
It's ok to not see the use case personally if you don't need it. In 1993 people thought mobile carphones were a pointless trend, and they kindof were -- nobody today uses phones mounted in a leather case in their car to call people. But with some design iteration the most profitable companies on the planet emerged. I think we're at 1993-carphone of blockchain. The use case is kindof there, but as you said the "mainstream" use case hasn't really emerged yet. However that doesn't mean it won't.
Trying to regulate crypto is like trying to regulate the internet. There are some good attempts, but by using different routes we can circumvent (even in china). Blocked by firewall, use cell, blocked cell towers, use satellite, block satellite??? With crypto, regulate one, fork it, change the network, make another... change the route... use a different crypto/fiat vendor. Good luck.
Right on anonymity, but users doen't care... they just need the "perception of anonymity" or good enough. If you watch teenage trends, it's a great predictor of the near future.
Consider the teen buying weed with the choice of fiat or crypto. On their child bank account under their parent, even if they use cash, those withdrawals raise questions. But that same teen who tells their parent, yeah I just put $300 on coinbase for crypto. Now that teen can use funds without their parents knowing. Sure the trail can be traced back with some work, but it's really hard for the parent. And by trading crypto for cash outside regulated exchanges, it becomes increasingly difficult to unwind anonymity. Now reread this paragraph swapping out teen for average citizen, parent for government, and buying weed for sending money to support mom.
It's ok to not see the use case personally if you don't need it. In 1993 people thought mobile carphones were a pointless trend, and they kindof were -- nobody today uses phones mounted in a leather case in their car to call people. But with some design iteration the most profitable companies on the planet emerged. I think we're at 1993-carphone of blockchain. The use case is kindof there, but as you said the "mainstream" use case hasn't really emerged yet. However that doesn't mean it won't.