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A bullshit stat that you happened to pull out of your ass through an emotional reaction to crypto. Even companies like Chainalysis, which work specifically in t
by helloworld11 4y ago
A bullshit stat that you happened to pull out of your ass through an emotional reaction to crypto. Even companies like Chainalysis, which work specifically in the industry of detecting and tracking fraudulent vs. ordinary crypto transactions, have repeatedly claimed that a majority of transactions aren't actually of criminal origin or money laundering. In other cases, people (ordinary people) have used BTC or crypto to avoid draconian controls on capital by governments. Illegal? Sure, but in a very absolutist moral sense. There indeed real business and financial activities in this space that don't involve fraud.
Con artists often gravitate to new technologies, see the internet itself as an example, and it applies especially when said technologies can be used to move information or monetary value around in some way. This doesn't make blanket condemnations of these technologies fair or valid. IT's absurd to see such idiotic condemnations constantly keep being parroted on a site like HN, full of people working in technologies that are constantly used by criminals too.
- influxmoment 4y agoWhat real product is there in web3 or defi? Explain without using abstract buzzwords and handwaving explanations.
- Drblessing 4y agoHere's a simple one: Remittance fees take a non-zero percentage of a developing nations GDP. [1] "The World Bank estimates that globally US$16 billion can be saved annually if remittance costs were reduced by a mere five percentage points." Regardless if the solution utilizes a blockchain or a cryptocurrency, you can agree that there is a problem, and ideally we could get remittance fees down to 0 or near 0. [1] https://www.lowyinstitute.org/the-interpreter/bang-buck-getting-most-out-pacific-islander-remittances https://www.lowyinstitute.org/the-interpreter/bang-buck-gett...
- influxmoment 4y agoyea bitcoin solved that and had nothing to do with the crypto movement or web3