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Big Crypto Is Spending More on US Elections Than Any Other Industry
(www.businessinsider.com)
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this post was submitted on 26 Aug 2024
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So then what do you think it does solve? "Blockchain not money" is a phrase popular with scams too.
Blockchain has more utility than crypto, but keeping focused on the latter, crypto may allow for anonymous (pseudonymous) transactions* that are also immutable, which can preserve your privacy and also allow you to financially support whoever government doesn't want you to support - be it protesters, or your relatives in sanctioned jurisdictions, or, say, Ukrainian army if you are Russian**, or whatever.
It also gives you Internet money you're in full control of - no one can freeze or seize your assets***.
*This does not apply if you use open ledger cryptocurrency and bought it from a traceable source, especially an exchange that requires KYC
**I am Russian, and I do not transfer money to Ukraine. Rest assured, dear FSB agent. But many people do, and they should be protected
***Assuming you use a trusted non-custodial wallet and adhere to basic DeFi hygiene if you use it. Also, sometimes, like when you do crime, inability to freeze your assets is bad. But I did happen to be in a situation when all my bank accounts were wrongfully arrested, and it took me 3 weeks to make my appeal approved by the court to restore access to my own money. Makes sense for me now to keep some money in cash and crypto.