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>How many kids are being hospitalised because of black market vaping products bought online with VISA/MASTERCARD/PAYPAL? A lot less than you think. These netwo
by criley2 7y ago
>How many kids are being hospitalised because of black market vaping products bought online with VISA/MASTERCARD/PAYPAL?
A lot less than you think. These networks, UNLIKE BITCOIN, are regulated, must follow the law, and actively combat fraud and crime on their networks. They keep records and turn records over to law enforcement and many criminals have been caught because they used these networks.
>are all happy to transact in USD.
Where we have laws and regulations, flagging, bank reporting, and entire law enforcement divisions dedicated to tracking financial crime, combating it, and bringing lawsuit against those who do it.
Almost every major criminal who chose to use USD got caught because of that choice.
Unlike Bitcoin, which is unregulated, unmonitored, with no ability to flag suspicious transactions, and no ability to ban bad actors.
>Every issue you have with bitcoin exists with other currencies and mediums if exchange.
This is extremely false. Major networks all obey law and regulation, assist law enforcement actively, track and report suspicious uses, and are vital in combating sex trafficking, drug trafficking and terrorism.
I'm frankly shocked at the illogical nature of your reply, to false equivocate between a fully deregulated currency that has no law enforcement whatsoever, with one of the most regulated and monitored currencies in the world -- it's breathtaking.
To prove how illogical and ridiculous you are being, I will ask you one question:
If you want to buy $15,000 worth of heroin from a dark net drug distributor, would you do it in bitcoin, or a USD wire transfer?
Your answer to this question should help you realize the ridiculously fallacious nature of your reply to me.
>If these are genuine concerns of your you should focus on another method of preventing them.
We successfully combat these things in USD, Visa, etc. We cannot combat them BY DESIGN in bitcoin. For you to suggest that we abandon the only mediums where we can track and stop criminals and switch to a medium where criminals are largely untrackable and operate freely without fear, it's beyond illogical, it's downright insane.
"Someone got murdered once, that proves the police are 100% ineffective and we should switch to a society without police!"
- celticninja 7y ago>A lot less than you think. Citation please. >If you want to buy $15,000 worth of heroin from a dark net drug distributor, would you do it in bitcoin, or a USD wire transfer? Sure, you use bitcoin because thats what online distributors accept. But you answer me this, if I want to buy 50kg of cocaine or heroin, am I paying the Mexican Cartels/Afghan warlords/Colombian cartels USD or BTC? >We successfully combat these things in USD, Visa, et If we could successfully combat these with VISA would carding still be a thing? Would identity theft be a thing? 1bn was stolen from Moldovan banks by bank transfer and they still couldn't get the money back. https://en.m.wikipedia.org/wiki/Moldovan_bank_fraud_scandal https://en.m.wikipedia.org/wiki/Moldovan_bank_fraud_scandal So it's hardly like any of these are a secure medium, sure there are laws that can be used to prosecute offenders, same ones that can be used for crimes involving bitcoin. Bitcoin is also trackable/traceable with the right resources BY DESIGN (not sure why that matter but it matters to you). Also I think it was the SEC who said that cash was the preferred option for criminals, with bitcoin being a very small area for money laundering or other criminal activities. There is a lot of hyperbole in your comment (breathtaking, insane, illogical) and a significant misunderstanding of bitcoin. Perhaps don't act so superior when you don't know everything.