3 ms·
Actually I think he is wrong about that, crime can be done better on a centralized infrastructure. See all crime before cryptocurrencies were a thing.
by throwawayffffas 5y ago
Actually I think he is wrong about that, crime can be done better on a centralized infrastructure. See all crime before cryptocurrencies were a thing.
- soco 5y agoFor some reason all ransoms are requested in cryptocurrencies as of late. There must be a reason, hmm...
- thinkmassive 5y ago" as mainstream adoption of cryptocurrency has grown, the percentage of transactions used to promote or conceal crime has also decreased." - FinCEN Chief Digital Currency Advisor, Michele Korver https://www.coindesk.com/policy/2021/07/06/fincen-hires-doj-crypto-czar-as-first-chief-digital-currency-advisor/ https://www.coindesk.com/policy/2021/07/06/fincen-hires-doj-...
- hn8788 5y agoKeyword there is percentage.
- Bigpet 5y ago"As deaths due to covid increased, the percentage of deaths due to car crashes has decreased" I somehow think that doesn't mean we made any progress in car/traffic safety. And should not be used as an argument to dismiss/minimize the impact of traffic fatalities.
- kbenson 5y agoThat is entirely consistent with a few possible (and I would say likely) explanations that include cryptocurrency being beneficial for crime. I'll cover one below. If crime accounts for some small percentage of financial transactions (we'll say 1% to make it easy, even if that's very unlikely), and those transactions migrate to cryptocurrency first, then what you'll see is a very high percentage of crime in cryptocurrencies, that then drops as the much larger normal transaction flow shifts, even the total amount of crime transactions might be stable or even increasing (as we're talking about percentages of a whole, normal transaction traffic and would have to be shifting very slowly and crime increasing extremely fast for us to see anything else).
- goodpoint 5y agoThat still doesn't make it a good thing.