5 ms·

> This is meant sincerely, not glibly: How? How can cryptocurrencies be banned in any meaningful sense? The main avenue would be by getting rid of the sanction

> This is meant sincerely, not glibly: How? How can cryptocurrencies be banned in any meaningful sense? The main avenue would be by getting rid of the sanctioned on/off ramps for crypto (that is, crypto exchanges), leaving only the illegal on/off ramps which I'm sure exist. This obviously wouldn't stop everybody, but it would certainly be a deterrent for all but the most motivated and well-connected of buyers. At that point, exchanging a large amount of crypto would be similar to laundering a large sum of dirty money; possible, but not trivial and certainly not an "easy out" for a major corporation experiencing a ransomware attack.

echelon 5y ago
Drugs are illegal for Americans to buy, sell, and produce. Laws are how you prevent this. Can you imagine the Massachusetts Steamship Authority paying in cocaine? Why would paying in Bitcoin be any different? Bitcoin is parroted largely by a bunch of libertarian speculative grifters that think they're above the authority of our government to manage the monetary supply. They want to soak up all the advantages of building and controlling an economy. If you look through the covers, it's all speculation and hype. There's noting "decentralized" or "democratic" about it. Bitcoiners are fine with letting social services and the underserved slip through the cracks as long as they get their reward that they feel they earned. The US is a democracy, and theoretically it helps people of all backgrounds and socioeconomic statuses. It might not be evenly distributed, but at least we can toss out the bad players. Bitcoin is not a democracy. It rewards the Ponzi schemers at the top and leaves everyone else out to dry. And now look at what it's gotten us -- unprecedented crime from across international boarders that we can't stop. All brought to you by the remarkable "governmentless decentralization". Just wait until the kidnappings start. Or the murders for hire. Fucking good for nothing bitcoin. The world was better before it existed.
- deleted 5y ago
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- meowface 5y ago
  >Bitcoiners are fine with letting social services and the underserved slip through the cracks as long as they get their reward that they feel they earned. What are you basing this on?
- redisman 5y ago
  > Drugs are illegal for Americans to buy, sell, and produce. Are you seriously using the war on drugs as an example of a successful policy? Drugs are easier to get and more numerous than ever, even though we have these magical laws in place for decades.
loveistheanswer 5y ago
>The main avenue would be by getting rid of the sanctioned on/off ramps for crypto (that is, crypto exchanges), leaving only the illegal on/off ramps which I'm sure exist. From what I've read it seems its only the stupidest of criminals who are using exchanges like Coinbase to cash out, because that's the easiest way to get caught.
- nneonneo 5y ago
  What you want to attack is the on-ramps, not the off-ramps. Make it really hard to legally acquire cryptocurrency, to the point where a company would probably have to break a law or two just to get their payment together. That, plus criminalizing ransom payments, would go a very long way to stemming this tide.

echelon 5y ago

Drugs are illegal for Americans to buy, sell, and produce. Laws are how you prevent this. Can you imagine the Massachusetts Steamship Authority paying in cocaine? Why would paying in Bitcoin be any different? Bitcoin is parroted largely by a bunch of libertarian speculative grifters that think they're above the authority of our government to manage the monetary supply. They want to soak up all the advantages of building and controlling an economy. If you look through the covers, it's all speculation and hype. There's noting "decentralized" or "democratic" about it. Bitcoiners are fine with letting social services and the underserved slip through the cracks as long as they get their reward that they feel they earned. The US is a democracy, and theoretically it helps people of all backgrounds and socioeconomic statuses. It might not be evenly distributed, but at least we can toss out the bad players. Bitcoin is not a democracy. It rewards the Ponzi schemers at the top and leaves everyone else out to dry. And now look at what it's gotten us -- unprecedented crime from across international boarders that we can't stop. All brought to you by the remarkable "governmentless decentralization". Just wait until the kidnappings start. Or the murders for hire. Fucking good for nothing bitcoin. The world was better before it existed.

deleted 5y ago
[deleted]
meowface 5y ago
>Bitcoiners are fine with letting social services and the underserved slip through the cracks as long as they get their reward that they feel they earned. What are you basing this on?
redisman 5y ago
> Drugs are illegal for Americans to buy, sell, and produce. Are you seriously using the war on drugs as an example of a successful policy? Drugs are easier to get and more numerous than ever, even though we have these magical laws in place for decades.

loveistheanswer 5y ago

>The main avenue would be by getting rid of the sanctioned on/off ramps for crypto (that is, crypto exchanges), leaving only the illegal on/off ramps which I'm sure exist. From what I've read it seems its only the stupidest of criminals who are using exchanges like Coinbase to cash out, because that's the easiest way to get caught.

nneonneo 5y ago
What you want to attack is the on-ramps, not the off-ramps. Make it really hard to legally acquire cryptocurrency, to the point where a company would probably have to break a law or two just to get their payment together. That, plus criminalizing ransom payments, would go a very long way to stemming this tide.