Would a Crypto Based Economy Make Things Safer?

[seoincorporation]

I don't think this will work because a crypto-based economy doesn't mean the people will have more access to jobs or more access to money. The ones who work for fiat will be working for cryptos but the ones who decide to take the evil way will stay there.  

A crypto-based economy will just substitute crypto for fiat, but think will be the same, the rich would stay rich and the poor will stay poor.

[Lambowei]

As the state of economy does at times really influence levels of crime and social aspects in any community.

Right now under the fiat system there is a major and growing sides of rich and poor.
With many times people who are "without" getting into trouble. Such as committing crimes. Getting into substance abuse etc.

If society or at least communities are able to become more independent and based their markets all on crypto. In which they follow the principles of crypto? as in prevent inflation and create an equal or at least more fair financial market. If that was the case/

Would this create a more safer community? would this cause people not to resort to crime? substance abuse? etc?

Your thoughts why or why not?

My thought is it would reduce state-based violence. Banks won't be too big to fail anymore because you can be your own bank. The state can imprison you but they can't access your hard-earned money.

[adjed]

Some of the crime commited worldwide are not even commited for monetary gain and many people who abuse drugs are among the upper echelons of society and it is no news to see celebrities who are under the influence of one substance or another and some even dying from overdose of those substances.. my point is that while a fair and equal financial society might greatly reduce crime, it definitely wouldn't stop it entirely because some people do it for the thrill.

Additionally I don't think that this equal financial society can be done with bitcoin because Bitcoins total supply is just 21million and there are billions of people world-wide and majority of the bitcoins in circulation are held by few people compared to the world's total population.

[pjcaruci]

I hope that this will happen. But you need to think through this system to the smallest detail, so that it was safe and did not have backdoors.

[Artemis3]

As the state of economy does at times really influence levels of crime and social aspects in any community.

Right now under the fiat system there is a major and growing sides of rich and poor.
With many times people who are "without" getting into trouble. Such as committing crimes. Getting into substance abuse etc.

If society or at least communities are able to become more independent and based their markets all on crypto. In which they follow the principles of crypto? as in prevent inflation and create an equal or at least more fair financial market. If that was the case/

Would this create a more safer community? would this cause people not to resort to crime? substance abuse? etc?

Your thoughts why or why not?

If you mean wealth redistribution, the answer is no. But, it can trigger better economies, that will eventually improve conditions of life to everyone. If, only if, they adopt Bitcoin and with it, the Austrian school of economy.

Until then, the world will still be plagued with bubbles and their nasty pops, of whom only a select few survive. By going Austrian, things would slow down, and what little is gained, is solid. Much like Bitcoin's price, the slower it gains, the better.

Substance abuse is probably unrelated as this occurs in all levels of society. You could bring the legal/illegal discussion in another thread (there is one or more in offtopic or politics iirc).

[Ridwan Fauzi]

Cryptocurrencies are not something that can help everything for human life. You have to limit your braind when you look cryptocurrency. Just think that cryptocurrency is money and you can use them for transaction such as fiat but when you use it you'll have more compinent rather then when you use money fiat.

Beside of that, I'm sure cryptocurrencies won't help anything. I agree with someone who says in above that community culture will be created by the people who life in the community itself. You can't be sure that the community will give a good thing or the bad thing.

[squatter]

As the state of economy does at times really influence levels of crime and social aspects in any community.

Right now under the fiat system there is a major and growing sides of rich and poor.
With many times people who are "without" getting into trouble. Such as committing crimes. Getting into substance abuse etc.

If society or at least communities are able to become more independent and based their markets all on crypto. In which they follow the principles of crypto? as in prevent inflation and create an equal or at least more fair financial market. If that was the case/

Would this create a more safer community? would this cause people not to resort to crime? substance abuse? etc?

Your thoughts why or why not?

Crime is linked to poverty. Outside of mental illness, it's a socioeconomic issue, not a matter of technology or the type of money being used. In other words, cryptocurrency doesn't address the sources of poverty -- namely maldistribution of property and capital.

Inflation makes us poorer, but it makes everyone equally poorer, so eliminating inflation still doesn't address the fundamental issue.

[Theb]

If society or at least communities are able to become more independent and based their markets all on crypto. In which they follow the principles of crypto? as in prevent inflation and create an equal or at least more fair financial market. If that was the case/

Would this create a more safer community? would this cause people not to resort to crime? substance abuse? etc?

Your thoughts why or why not?

Before the crypto market ever existed we already have fair markets where not only the rich can invest but also the poor from forex to the stock market there are no restrictions to who can invest in it yet does this solve the crime rate going down? No because even if there are more fairer investment vehicles created for their country it won't be the solution to solve the crimes from happening. Opportunity to become rich here is not the problem because poverty and inequality in society is. Not until we figure out how to solve the main roots of these problems we can solve or even lessen the crimes from happening in our country.

[dimox]

when crypto be economic system, im sure there is poor and rich people. we already have the rich and poor people in this crypto world, and when enlarge the scale, it not give much effect on that different, but maybe will helped by bitcoin. like the advantages of bitcoin will spread significant, not only for investment but they will use bitcoin like a bitcoin

[G00DFe77a]

What if the economy revolved around a smart contract and the smart contract had a bug in it that a hacker can explore to drain the economy. Whether Crypto or Fiat, it is just a store of value. You still have to have systems in place to maintain and secure that value.

[coolcoinz]

There's one thing I'd like to correct in OP's statement. You said that in fiat economy there's a lot of substance abuse and crime that comes from poverty. It's not always like that! Rich people abuse substances just like poor people. We frequently hear about celebrities dying from overdose or killing themselves in car accidents. Rich people are also gangsters and violent offenders. Saying that fiat money leads to poverty and poverty leads to crime is oversimplifying things.

[mikehersh2]

Crypto will make some communities more dangerous. With bank cards it's harder to rob someone, because there's a lot of countermeasures like withdrawal limits, added personal verification, and the victim can freeze their card at any moment. But crypto is much like cash, which is why we hear about armed robberies, home invasions and even kidnapping involving crypto. If everyone adopted crypto, criminals would have a much bigger pool of targets. This doesn't automatically mean that there would be more crime, but it can happen if other factors are there.

I totally agree^
Crypto may not make the world a more dangerous place, but it certainly won't make it much safer. With bitcoin, it becomes much more convenient for a criminal to make illegal purchases or steal with full anonymity. Items that one can purchase online via illicit sources/websites are much more accessible with crypto, and we see this manifesting itself in the dark web and other places. Crypto may give the individual user a sense of security, in terms of the safety of their money, but in terms of danger in society, crypto is probably not helping, and if anything, it can enable danger.

[maxreish]

It's nothing to do with it. I mean, yeah a bitcoin friendly economy will make our economy a lighter one with those crypto payments, etc but there are also disadvantages of it. As you know, bitcoin was also used in some "unlawful" acts and it does contribute to some problems because of it's anonymity. Others may say it will become a calamity instead of what anybody is expecting.

[julius caesar]

I really do not think so. We all know that cryptocurrency works around the internet. Everything on the internet is vulnerable to hacking cases such as stealing of private information and use it to log in to your cryptocurrency wallet. In that case, they would be able to steal some of your money there.

[Oasisman]

Crimes exist with or without cryptocurrency. Fiat isn't the root of evil in this world, but it's the people itself. Do you personally think crime was made because of fiat money? No, I dont think that's always the gonna be the case. As you mentioned substance abuse, do you think all those who are influenced under these substances always needs fiat to satisfy their demonic needs?
Nothing would really change to the economic state if we fully adapt on cryptocurrency, but forcing banks to take extra step ahead to control the monetary gains of the retail investors in crypto space.

[Murat]

Basically, I don't agree with those people who believe that the Cryptocurrency based economy would bring a safe and sound economic system, due to the decentralization system, we can't control over cryptocurrency which is sometimes a curse for us, a lot of intentional manipulation creates people's afraid of investing and trading further purpose, I don't say that Conventional economic system is perfect, It's also a default system, There are also a lot of crime within centralization system, So now can you imagine, how much we will suffer when it is totally decentralized?

[Youghoor]

In as much that cryptocurrency introduces a decentralized environment, it does not really assure people that it is safe. The safety of the economy is solely rely  on how people understand how the entire cryptocurrency ecosystem operates and its vulnerabilities. Once we understand these vulnerabilities, we can determine our safety using crypto. Cryptocurrency will make the entire economy transparent and make transactions simple and easy but the safety of the economy solely depends on the knowledge of people in the entire ecosystem..

[the rise]

In as much that cryptocurrency introduces a decentralized environment, it does not really assure people that it is safe. The safety of the economy is solely rely  on how people understand how the entire cryptocurrency ecosystem operates and its vulnerabilities. Once we understand these vulnerabilities, we can determine our safety using crypto. Cryptocurrency will make the entire economy transparent and make transactions simple and easy but the safety of the economy solely depends on the knowledge of people in the entire ecosystem..

on a micro basis all the advantages and vulnerabilities in crypto are still based on free will. all forms of intention for crime will still look the same. But globally there will be many who use it positively to remain in a sustainable ecosystem. to keep within the principle of safe limits, the role of regulators is still needed to anticipate negative things, there must still be a form of balance to create a new economic system in a healthy threshold.

[slaman29]

I don't think this will work because a crypto-based economy doesn't mean the people will have more access to jobs or more access to money. The ones who work for fiat will be working for cryptos but the ones who decide to take the evil way will stay there.  

A crypto-based economy will just substitute crypto for fiat, but think will be the same, the rich would stay rich and the poor will stay poor.

This is something people keep failing to understand. You don't just bring crypto into the country or state and expect everything just booms just because. Jobs and economies are not simply created, they have to be backed by needs for products and services first of all, which is what crypto should bring, as needful solutions and not mere promises of artificial creation of demand.

[airdnasxela]

A safer community? I don't think so. First thing is that everything has a negative side. In crypto, crimes can still occur. If we're going to adopt a crypto based community, all criminals will move to cyber crimes which is not safe. Fair financial market? It can still be controlled even in digital. I just think that whatever we use, fiat or crypto, things won't be fair. The advantages are still at the higher class. Even if we try so hard to digitalize things, they could still create ways that'll favor them. Even with crypto there's no assurance of safety.