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Canada's Seizure of Crypto from Freedom Convoy Highlights Digital Currency Flaws
- ggm 5y agoPseudonymity is not a flaw. Belief it was anonymous is the flaw. You can't replace real world fiat and processes of you can't be a ledger and prove chain of value flow with some basis to identify of players. It's baked in. The fully anonymous block chains are pretty much only for extra legal and non legal. Everyone else has tax to pay and tax demands identity tracing. Every one of the easy to use chains has AML and KYC baked into their process to get compliance. The convoy was a ship of fools. Anyone could have told them this was an overt latent risk.
- hungryforcodes 5y agoThe police showed up to the guys home and forced the private keys out of him -- probably with a very quick discussion about what would happen if he didn't hand them over. Once they had the keys they had possession of the bit coin. Working as intended.