Can cryptocurrencies kill you?
In a recent Reddit discussion, Bill Gates made it clear that he does not support cryptocurrencies. He believes they have had a very direct affect on certain criminal activity. From money laundering to illicit drug purchases on the dark web, the anonymity of cryptocurrencies have allowed criminals to hide in the shadows. Gates suggests that it is in our best interest to allow the government insight into transactions, as this can deter illegal and unwanted behavior.
On the contrary, the CEO of a “digital currency information firm”, Charles Hayter, argued that Gates’ assertions were slightly naive. Hayter suggested that more and more legitimate business is being processed with digital currencies. Hayter also pointed at the paper dollar, and believes that any new money or currency will be involved with deaths to a certain extent at their inception.
So my question is how much anonymity do we want and how much is good for society? Total anonymity may not be in our best interest, but how much insight are we willing to give to the government?