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And bitcoin also pays for murders, launders money, etc. I feel, just as cash, it is quite ethics agnostic. Not knocking cryptocoin, just don't pretend it is a s
by nugi 9y ago
And bitcoin also pays for murders, launders money, etc. I feel, just as cash, it is quite ethics agnostic. Not knocking cryptocoin, just don't pretend it is a singular force for good. It is representation of capitol, albeit in a unique way.
- realusername 9y agoI highly doubt Bitcoin is much used for laundering money, transactions are all happening in clear and if you try to hide traces by creating multiple addresses you are going destroy your capital in transfer fees (which are very high right now). It's clearly not the best currency to hide untraceable money.
- byte1918 9y agoWouldn't it be possible to temporarily switch to an intermediary altcoin (eg. ethereum, btc) ? I'm not invested nor an expert in any crytocurrency, so please correct me if I'm wrong.
- realusername 9y agoMonero I think can be used for this, other main coins have a public ledger.
- pluma 9y agoI'd argue it's easier to use BTC securely when you're already laundering money than when you want to use it legitimately. Just use throwaway wallets to receive BTC, pay for goods that can be converted to physical cash and proceed laundering that cash as usual. It's no surprise all the cryptolocker viruses asked for bitcoin payments or cash equivalent cards.
- 0xFFC 9y ago>And bitcoin also pays for murders, launders money, etc. From scientific perspective this is not true. Bitcoin is way more open and traceable than good old dollars.