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More I read about such stuff, more the idea of a "decentralized" financial system with "no trusted party" makes sense. Fiat has lot's of problems in this global
by ateevchopra 10y ago
More I read about such stuff, more the idea of a "decentralized" financial system with "no trusted party" makes sense. Fiat has lot's of problems in this globalization. It was never meant to be used globally. It's time we upgrade! It's time for bitcoin.
- kneel 10y agoI'm 100% on board with bitcoin but damn are we annoying with our proselytizing. I think bitcoin will slowly seep in as the solution to many problems as they arise. I don't think cramming down everyone's throat is going to help, it comes off very scammy.
- andrewfong 10y agoIf the problem is criminals using Western Union for money laundering and fraud, replacing it with a decentralized system of quasi-anonymous irreversible transfers seems like it would make things easier for said criminals. Unless your complaint is about the government stepping in to penalize Western Union. In which case, I misunderstood.
- ateevchopra 10y agoBitcoin's whole system is transparent. You can always see all the transactions happening. So there is no way one can hide. I recommend you reading this article for details. http://www.sciencemag.org/news/2016/03/why-criminals-cant-hide-behind-bitcoin http://www.sciencemag.org/news/2016/03/why-criminals-cant-hi...
- cm2187 10y agoAnd that is why crypto-hackers use bitcoin!
- luckystartup 10y agoThere's absolutely no way of knowing who owns the addresses. We have a saying for this: "Hiding in plain sight."