3 ms·
> I think it’s hilarious that you think your wire was slow because of the geographical distance the message had to travel (“halfway across the world”) as oppose
by mhluongo 4y ago
> I think it’s hilarious that you think your wire was slow because of the geographical distance the message had to travel (“halfway across the world”) as opposed to the fact that it had to travel across jurisdictions with different laws
Condescending straw man here.
Being able to use BTC to do this, routing around the various jurisdictional settlement layers, is a huge practical improvement.
Those 7 days don't make society better, they're a drag on the economy and the wallets of anyone who doesn't have access to quicker mechanisms.
- malermeister 4y agoYou think preventing fraud, money laundering or terrorism funding (the specific examples cited above) doesn't make society better?
- throwuwu 4y agoAn unalterable public ledger does a lot more to prevent or expose those things than banking regulations. Weren’t there even a few banks that were making huge profits off of criminal activity recently?
- derangedHorse 4y agoThe question you're posing assumes an argument the comment you're responding to doesn't make. It's not whether "preventing fraud, money laundering or terrorism funding" makes things better, it's whether the processes put in place are effective towards combating those things. It would be upsetting to know a $2b pipeline for catching these things were only able to detect $2m worth of illicit funds for example. Your comment is also assuming funds would only be seized for a shared definition of "fraud, money laundering or terrorism" when that is not always the case. Preventing "terrorism" by placing embargoes on all individuals of disagreeable governments would seem like an overreach for many individuals with family overseas.
- tomatoman 4y agoThis is from your years of law enforcement knowledge on Terrorism, Tax Avoidance, Theft?