General Discussion

If you've got tons of cash laying about from your child sex trafficking, you can get it into mainstream finance through crypto. Same for drug deals, illegal arms purchases, etc. Got millions you stole and want to get it to your offshore bank? Crypto is for you! Want to hide your earnings from the IRS and "free" your employer from paying into SDI, mandatory health insurance and such? Go with crypto. Need slave workers for your onion farm? The cartels take crypto!

Because crypto isn't government backed or really regulated, it's very easy to engage in fraud. Do you trust the people affiliated with it (or "issuing" it)? Sam Bankman-Fried comes immediately to mind, but he's just one example if the ilk that peddle and promote this stuff.

Other than that, it's not really good for much - all the Cracken ads notwithstanding. It appeals to folks who swallow the Reaganite propaganda and think that government is horrible and out to get you. It also appeals libertarian capitalists, who think they should be free to make money through any means without government interference and laws. Think Ron Paul disciple "Dread Pirate Roberts" (a.k.a. Ross Ulbricht) of Silk Road on the dark web, currently doing life in a Tucson jail.

If your personal finances don't stray far into criminal activity, you really are better off with government-backed currency and/or financial vehicles (like a debit card) that moves it electronically.