“Using Bitcoin to facilitate a crime is one of the stupidest things a criminal could do, since crypto transactions are transparent to all, can be traced, and are recorded forever in the blockchain. I can think of much better ways to hide transactions — cash, for example.”

Great article, so glad to see Tomer Federman put Krugman in his place – "5 things Paul Krugman gets wrong about crypto": https://medium.com/federman-capital/5-things-paul-krugman-gets-wrong-about-crypto-fda8577f5362

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Bitcoin – The Currency of the Internet

“Bitcoin is the only medium guaranteed to not be debased, no matter how much its value rises.” — Saifedean Ammous

For most of human history, some physical object was used as the store of value. The function of value storage did not need a physical manifestation, but having one allowed for making the supply of the store of value harder to increase. Bitcoin, by not having any physical presence, and being purely digital, is able to achieve strict scarcity. No divisible and transportable physical material had ever achieved this before. Bitcoin allows humans to transport value digitally without any dependence on the physical world, which allows large transfers of sums across the world to be completed in minutes. The strict digital scarcity of the Bitcoin tokens combines the best elements of physical monetary media, without any of the physical drawbacks to moving and transporting it. Bitcoin might have a claim to make for being the best technology for saving ever invented.

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Bitcoin – The Currency of the Internet