The global banks that you mention each have holdings of at least $1T and transact 100’s of trillions of dollars a year. $2T a year in questionable transactions is a lot but in reality, spread across the world’s entire banking system, it is a drop in the bucket. BTC with 17MM coins currently outstanding at $4,106/coin (at this writing) is a mere $69.8B. So the entire outstanding BTC is part of a drop in the drop of a bucket. In other words, again, advocates and enthusiasts and, yes, people such as yourself just trying to make a living off of crypto continue to undermine it with such terrible and, I have believe, intentionally disingenuous reasoning.
Any analysis (as any numerate individual would expect) of the 2 “systems” would compare the proportion of illegal activity. In the case of Bitcoin, an University of Oxford Law research effort concluded the following:
“We find that illegal activity accounts for a substantial proportion of the users and trading activity in bitcoin. For example, approximately one-quarter of all users (25%) and close to one-half of bitcoin transactions (44%) are associated with illegal activity. The estimated 24 million bitcoin market participants that use bitcoin primarily for illegal purposes (as at April 2017) annually conduct around 36 million transactions, with a value of around $72 billion, and collectively hold around $8 billion worth of bitcoin. ”
Although the report is now a year old, I don’t believe much has changed.
The “dream” of Satoshi Nakamoto and his acolytes and beneficiaries is that the “currency” could not be controlled by any government, good or bad. This is also the dream of many across the world who are looting their countries resources and supplying means for malefactors of all kinds.
Crypto may have a place, but that place will forever be mainly a dark one. This will remain so unless promoters and activists and those who make their living from crypto show less disrespect for the facts, a strong acknowledgment of its problems, and a relentlessness in promoting regulation rather than subverting it.
