4 ms·

so which is it then? "BTC is bad cause it can be used by drug dealers to launder money" "BTC is not even secure from government access" Surely someone will p

so which is it then? "BTC is bad cause it can be used by drug dealers to launder money" "BTC is not even secure from government access" Surely someone will point out both can be true but the point is the anti-btc folks seem to be talking out both sides of the mouth

TacticalCoder 5y ago
> Surely someone will point out both can be true but the point is the anti-btc folks seem to be talking out both sides of the mouth The most beautiful being: "The cryptocurrencies scam should all stop but, please, let us collect all the due taxes on the gains you made". From that standpoint which one is it: are they legal or illegal? Because it's funny that they both want it to be illegal, yet they want people to pay taxes on the gains they made. Hypocrites.
- simcup 5y ago
  Not hypocritic at all. From a legal perspective even illegal made money is money made and therefore subject of taxation. Tecnically you even have to describe the means by that you have come to it. Otherwise you are commiting tax evasion. For example if you sell 100k worth of access to documented child abuse, you have to pay taxes on those 100k. Thats why you have to launder money made from illegal activities
simias 5y ago
I think it's both: people who have something to hide for the government can make it pretty hard (but not impossible) for the authorities to track them down. On the other hand average people who don't have "anything to hide" have no reason to bother implementing these counter-measures, making it fairly easy to track their transactions on the public blockchain. In this case even the pros messed it up, but this is a very high profile case with undoubtedly a massive amount of manpower thrown at it in various agencies. You don't mess with USA's oil. And even then it's unclear if the money was actually confiscated.
zepto 5y ago
> Surely someone will point out both can be true but the point is the anti-btc folks seem to be talking out both sides of the mouth Can you explain how you reach this conclusion? It doesn’t seem to follow.
- lancemurdock 5y ago
  A talking point to the dangers of Bitcoin and cryptocurrency is that it can be hard to trace bad actors using the network to launder money. The comment I replied too was stating "debunks another favourite talking point of the crypto people that it secures your money from government access." Both of those seem pretty hard to be true at the same time
  - zepto 5y ago
    > Both of those seem pretty hard to be true at the same time That’s what doesn’t seem to follow. Cash, for example is hard to trace if the serial numbers haven’t already been recorded, and good for money laundering, for example, but it doesn’t secure your money from government access if the government puts resources into it.

TacticalCoder 5y ago

> Surely someone will point out both can be true but the point is the anti-btc folks seem to be talking out both sides of the mouth The most beautiful being: "The cryptocurrencies scam should all stop but, please, let us collect all the due taxes on the gains you made". From that standpoint which one is it: are they legal or illegal? Because it's funny that they both want it to be illegal, yet they want people to pay taxes on the gains they made. Hypocrites.

simcup 5y ago
Not hypocritic at all. From a legal perspective even illegal made money is money made and therefore subject of taxation. Tecnically you even have to describe the means by that you have come to it. Otherwise you are commiting tax evasion. For example if you sell 100k worth of access to documented child abuse, you have to pay taxes on those 100k. Thats why you have to launder money made from illegal activities

simias 5y ago

I think it's both: people who have something to hide for the government can make it pretty hard (but not impossible) for the authorities to track them down. On the other hand average people who don't have "anything to hide" have no reason to bother implementing these counter-measures, making it fairly easy to track their transactions on the public blockchain. In this case even the pros messed it up, but this is a very high profile case with undoubtedly a massive amount of manpower thrown at it in various agencies. You don't mess with USA's oil. And even then it's unclear if the money was actually confiscated.

zepto 5y ago

> Surely someone will point out both can be true but the point is the anti-btc folks seem to be talking out both sides of the mouth Can you explain how you reach this conclusion? It doesn’t seem to follow.

lancemurdock 5y ago
A talking point to the dangers of Bitcoin and cryptocurrency is that it can be hard to trace bad actors using the network to launder money. The comment I replied too was stating "debunks another favourite talking point of the crypto people that it secures your money from government access." Both of those seem pretty hard to be true at the same time
- zepto 5y ago
  > Both of those seem pretty hard to be true at the same time That’s what doesn’t seem to follow. Cash, for example is hard to trace if the serial numbers haven’t already been recorded, and good for money laundering, for example, but it doesn’t secure your money from government access if the government puts resources into it.