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The thing is it's not really particularly good at that. No moreso at least because of any attributes of the blockchain. It's really because of external reasons:
by staticassertion 5y ago
The thing is it's not really particularly good at that. No moreso at least because of any attributes of the blockchain. It's really because of external reasons:
1. Lack of tooling and cooperation for investigating fraud
2. Lack of regulation
3. Programmatic interfaces
4. There are markets like the NFT space that are amazing for laundering
But no part of why it's good for crime has to do with blockchain.
- vanviegen 5y agoReason 2) does seem to be due to an attribute of the Blockchain, as there is no central organization that the government can force to establish the real-world identity of all participants. (Although this is now happening at the point of conversion to/from fiat currency.)
- staticassertion 5y ago(2) is an attribute of time. The legal system always plays catch up to the real world. Nothing about bitcoin prevents regulation.
- notahacker 5y ago"Censorship resistance" was the original use case for blockchain, and demanding money with menaces remotely is the one area where it's unquestionably superior to being discreet about where your money is stored
- CRConrad 5y ago>> Blockchain is proving a more than capable solution in the ransomware payments space > The thing is it's not really particularly good at that. Sure, but apparently it sucks less at that than at anything else. Which would be why that's the only use case in which it's actually used as a "currency"; the law of comparative advantage and all that. > But no part of why it's good for crime has to do with blockchain. Well, the anonymity, one would have thought?