this post was submitted on 16 Nov 2025
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Paul Krugman. He is the author of 27 books. He has a PhD from the Massachusetts Institute of Technology (qu.ax)
submitted 3 months ago* (last edited 3 months ago) by sixeyo@lemmy.world to c/videos@lemmy.world
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[–] unknownuserunknownlocation@kbin.earth -1 points 3 months ago (4 children)

His arguments aren't exactly solid. They are:

  • It isn't widely used. Well, just because something isn't popular doesn't mean it's bad. See Linux, Tor, ...
  • It is only being used for speculation and criminal activity. That's simply guilt by association. I've actually seen places that have stickers that say they accept Monero, for instance. I doubt they would have put up those stickers if there weren't people who actually used that as a form of payment.
  • Everyone who disagrees with this is in a cult. I don't think I have to elaborate on this one.

We badly need a payment solution that offers privacy. Even cash is getting less and less private with automated serial number readers. If Crypto offers a perspective to fix that problem, I'm all for it, at least as a concept (minus a lot of the crap that's being done with crypto nowadays).

[–] AlpacaChariot@lemmy.world 10 points 3 months ago (3 children)

How does crypto increase privacy? Isn't the whole ledger public, so if someone manages to identify your wallet they can see all your past transactions?

[–] HeyThisIsntTheYMCA@lemmy.world 8 points 3 months ago

Yeah, it seems like crypto offers less privacy to me, unless that crypto exchange/wallet/idk thingy that would pay businesses for you in exchange for crypto is legit.

[–] Zos_Kia@lemmynsfw.com 7 points 3 months ago

Yes, also the ledger is immutable so maybe they can't identify your wallet now but maybe in ten years they can. There's a whole industry around data mining the blockchain and a lot of people who thought they got away with shady stuff in the early days have been caught that way.

[–] Zyansheep@programming.dev 1 points 3 months ago

Most cryptos are public. Monero specifically though cryptographically obfuscates sender, receiver, and amount.

[–] Serinus@lemmy.world 7 points 3 months ago (1 children)

stickers that say they accept Monero

If you're holding the speculative asset you have incentive to promote the use of that asset.

How many people do you think actually pay with monero?

[–] explodicle@sh.itjust.works 2 points 3 months ago

Even Monero is so huge at this point that one person shilling hard won't make any significant difference in their own net worth.

[–] zeca@lemmy.ml 4 points 3 months ago* (last edited 3 months ago)
  1. He didnt say its bad for not being widely used. You can use linux alone, on your own. The point of a currency is to be exchanged, so a currency that is not adopted by people is of very limited use.
  2. People put up a lot of stupid stickers all the time. People often invest in bad ideas.
  3. The cult thing is not about anyone who disagrees, its about those with aggressive and exagerated reactions.
[–] driving_crooner@lemmy.eco.br 1 points 3 months ago

I doubt they would have put up those stickers if there weren't people who actually used that as a form of payment.

You arw overestimating people and businesses owners here.