4 ms·

It hasn’t been a currency for a very long time. It’s a speculative gambling vehicle that’s also used for flight capital and money laundering. Even the dark web

by api 6y ago

It hasn’t been a currency for a very long time. It’s a speculative gambling vehicle that’s also used for flight capital and money laundering. Even the dark web markets have mostly moved onto Monero which while it has some of the same problems as BTC at least is better for privacy. That being said, I am not sure it is worse than a lot of other BS in finance. Years and years of crazy low interest have inflated quite a few bubbles and enabled a lot of financial game playing.

miguelmota 6y ago
> money laundering I hear this argument a lot; do you have a source that details how much money has been laundered worldwide in cash vs bitcoin?
- ska 6y ago
  That doesn't seem to be a very informative statistic, either way.
- dehrmann 6y ago
  Let's launder money in a system with ledger of all transactions ever. /s To be fair, it feels anonymous in a lot of ways, and is until you cash out.
aphextron 6y ago
> It’s a speculative gambling vehicle that’s also used for flight capital and money laundering. A financial instrument with a publicly available and cryptographically verified permanent ledger sounds like a really terrible way to launder money.
- BrainlingPdx 6y ago
  Then you aren't paying attention. It's heavily used for money laundering and dark purchases. Yes the ledger is public, but there is almost no verification of the principals. It's nearly completely anonymous if you aren't a complete fool in how you setup the shells. Anonymity is the core of high volume laundering. You should do just a tiny bit of research of you think most of the major cryptocurrencies aren't massive laundering vehicles.