5 ms·

Of course every generalization is wrong but a not so little part of the crypto community seems very interested in avoiding taxation, money laundering and buying

Of course every generalization is wrong but a not so little part of the crypto community seems very interested in avoiding taxation, money laundering and buying illegal stuff without detection.

mikefallen 5y ago
You know whats used way more then crypto to buy illegal things and launder money? Cash
- TedDoesntTalk 5y ago
  You can’t use cash to buy a kilo of XXXX from Sergei in Ukraine when you live in Chicago.
  - basisword 5y ago
    You can. It’s just more difficult. But you can use cash to buy a kilo of XXXX from someone in Chicago very easily.
    - NicoJuicy 5y ago
      Making it difficult is entirely the point.
    - colinmhayes 5y ago
      I live in Chicago. I've bought plenty of drugs. Buying on the internet is much, much easier.
- jshen 5y ago
  You are using the wrong denominator. You need to compare the percentage of cash transactions (or cash exchanged) for illegal activities compared to crypto.
- hellbannedguy 5y ago
  If you start moving more than $10,000, you will have IRS attention. (I think they like to pick on little guys because it's easier than the guys whom have lawyers, and CPAs?) Actually, I was flagged over $6000 deposit over the sale of a car. The IRS gives rewards to bank employees if they report (successful conviction) any suspicious behavior. I still don't know why I was flaggged. Probally because I had long hair at the time? I had a bunch of sleepless nights over that incident, and a bunch of emails back and forth.
  - nfin 5y ago
    I hope we wouldn't have to go through a bunch of sleepless nights for doing nothing bad. There are semi random checks of "suspicious behaviour" being done in masses. These things can get out of hand sometimes (redefining what suspicious is...), when those elected get a bit crazy
wesleywt 5y ago
Internet file sharing was/is illegal when it first started. Now its the main form of distribution for music and movie industry. Are you only seeing criminal part of crypto and ignoring the rest to confirm your bias?
- cesarb 5y ago
  > Internet file sharing was/is illegal when it first started. Internet file sharing is older than you think. Together with remote terminal access (TELNET), file transfer (FTP) is one of the oldest Internet protocols. When file transfer over the Internet first started, that is, when the Internet itself started, it was not "illegal".

Of course every generalization is wrong but a not so little part of the crypto community seems very interested in avoiding taxation, money laundering and buying illegal stuff without detection.

mikefallen 5y ago

You know whats used way more then crypto to buy illegal things and launder money? Cash

TedDoesntTalk 5y ago
You can’t use cash to buy a kilo of XXXX from Sergei in Ukraine when you live in Chicago.
- basisword 5y ago
  You can. It’s just more difficult. But you can use cash to buy a kilo of XXXX from someone in Chicago very easily.
  - NicoJuicy 5y ago
    Making it difficult is entirely the point.
  - colinmhayes 5y ago
    I live in Chicago. I've bought plenty of drugs. Buying on the internet is much, much easier.
jshen 5y ago
You are using the wrong denominator. You need to compare the percentage of cash transactions (or cash exchanged) for illegal activities compared to crypto.
hellbannedguy 5y ago
If you start moving more than $10,000, you will have IRS attention. (I think they like to pick on little guys because it's easier than the guys whom have lawyers, and CPAs?) Actually, I was flagged over $6000 deposit over the sale of a car. The IRS gives rewards to bank employees if they report (successful conviction) any suspicious behavior. I still don't know why I was flaggged. Probally because I had long hair at the time? I had a bunch of sleepless nights over that incident, and a bunch of emails back and forth.
- nfin 5y ago
  I hope we wouldn't have to go through a bunch of sleepless nights for doing nothing bad. There are semi random checks of "suspicious behaviour" being done in masses. These things can get out of hand sometimes (redefining what suspicious is...), when those elected get a bit crazy

wesleywt 5y ago

Internet file sharing was/is illegal when it first started. Now its the main form of distribution for music and movie industry. Are you only seeing criminal part of crypto and ignoring the rest to confirm your bias?

cesarb 5y ago
> Internet file sharing was/is illegal when it first started. Internet file sharing is older than you think. Together with remote terminal access (TELNET), file transfer (FTP) is one of the oldest Internet protocols. When file transfer over the Internet first started, that is, when the Internet itself started, it was not "illegal".