Re: What are some of the dumbest arguments made against Bitcoin?
I agree with the first argument (Bitcoin is not a Ponzi), and the second one at least is vastly exaggerated by anti-Bitcoiners. But for me, fossil fuel consumption still is one of the challenges Bitcoins should overcome (=> go for 100% renewables) to really reach mass adoption.
I'll go with the next one: Bitcoin is primarily used for money laundering.
There are several reasons why this argument is completely dumb.
One of the most important ones: Many who use this sentence do not really know what "money laundering" means. It means to obtain clean money. Clean money is money you can prove the origin and that the origin has been a legitimate source.
You can actually prove that Bitcoin comes from a legitimate source, if it does come from it
But if you use mixers or similar services in the way, then you can't prove that anymore. All what mixers can do is perhaps hide a illegitimate origin like a theft, but they cannot provide "clean money".
You can launder money with Bitcoin, but you need a structure similar to the one you would need to build up when you're laundering money with fiat, for example with fake companies, fake customers and so on.
In addition, Bitcoin is a public ledger and much more traceable than cash, and even than bank accounts in different countries for example (if you do it well).
I'll go with the next one: Bitcoin is primarily used for money laundering.
There are several reasons why this argument is completely dumb.
One of the most important ones: Many who use this sentence do not really know what "money laundering" means. It means to obtain clean money. Clean money is money you can prove the origin and that the origin has been a legitimate source.
You can actually prove that Bitcoin comes from a legitimate source, if it does come from it
But if you use mixers or similar services in the way, then you can't prove that anymore. All what mixers can do is perhaps hide a illegitimate origin like a theft, but they cannot provide "clean money".You can launder money with Bitcoin, but you need a structure similar to the one you would need to build up when you're laundering money with fiat, for example with fake companies, fake customers and so on.
In addition, Bitcoin is a public ledger and much more traceable than cash, and even than bank accounts in different countries for example (if you do it well).