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You can't stop money laundering without subjecting every private interaction to warrantless surveillance. In an age of purely digital, peer-to-peer currencies,
by CryptoPunk 7y ago
You can't stop money laundering without subjecting every private interaction to warrantless surveillance. In an age of purely digital, peer-to-peer currencies, nothing short than banning the public from using strong encryption will stop money laundering.
- diminoten 7y agoSeems like preventing the trade of digital goods stops money laundering fairly effectively...
- CryptoPunk 7y agoYou can't stop the trade of digital goods when people can encrypt their electronic communication. As value becomes storable as purely digital information, the choice is either the status quo, where encryption makes money laundering trivial, or prohibiting public access to strong encryption, and instituting a Big Brother surveillance state without privacy.
- marcos123 7y agoSo money laundering never happened before digital goods existed?
- diminoten 7y agoYeah, because I meant all money laundering and not just this specific laundering situation...