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Just to expand on the 'wire' transfers. It can also be used to transfer money overseas without tax.
by gamerDude 9y ago
Just to expand on the 'wire' transfers. It can also be used to transfer money overseas without tax.
- cjlars 9y agoThis is what I was trying to get at with the China point. If you're avoiding taxes, you can bet goverments will try to crack down on you. My whole thesis, btw, assumes that legal uses would dominate illegal uses in terms of transactional value.
- stock_toaster 9y agoIn addition to avoiding taxes and enabling easier wealth expatriation, cyrpto-currencies are also apparently being used to avoid international sanctions (eg. North Korea).
- AndrewKemendo 9y agoWhich is a liability. Going around the major governmental funding mechanism is a great way to get attention you don't want.