3 ms·

I really don't think so. It's estimated 3% to 5% of the entire world's GDP comes from organized crime. These are officials CIA numbers / estimates. 3% to 5%

I really don't think so. It's estimated 3% to 5% of the entire world's GDP comes from organized crime. These are officials CIA numbers / estimates. 3% to 5% of the entire fucking world's GDP. Cryptocurrencies are a tiny drop in the bucket. Tinier than tiny. Completely insignificant in the grand scheme of crime. Organized crime existed way before Satoshi Nakamoto released Bitcoin to the world and shall, sadly, continue to exist long after that.

tjoff 4y ago
First google result says the worlds GDP is 91 billion USD. First google of (only) bitcoin value is 320 billion USD. How much theft occur in bitcoin every year? I don't know. It is not insignificant by any imaginable measure though. And the amounts are absolute staggering. It is a new avenue.
- jaimebuelta 4y ago
  The world GDP is (according to my Google search) 95 TRILLION, not billion. Market cap is also quite different from GDP, because market cap measures (sort-of) wealth. It’s like comparing the value of your house compared of your yearly income
  - tjoff 4y ago
    Yeah, I was tired and confused. Google, annoyingly always tries to localize everything (protip: don't do this, google are completely worthless at localization). 96 trillion in Swedish is confusingly enough "96 biljoner" and me not even noticing it was in Swedish. Yeah I know the comparison is bad. My main point stands though.
- RagnarD 4y ago
  "First google result says the worlds GDP is 91 billion USD." If you didn't instantaneously realize that that's a ridiculously low number, you're way, way too ignorant to be commenting.
  - tjoff 4y ago
    Looks like I was way of on both figures. Amazing huh.
ly3xqhl8g9 4y ago
3% to 5% of the entire world's GDP cannot come from organized crime since by definition organized crime operates outside the economy and is unaccounted for: no respectable mobster keeps their double-entry bookkeeping tidy for the IRS. 3-5% of world GDP equivalent value being tied to organized crime could be possible, but seems like a low value, based on how many entities do you include into "organized crime": do you include all the rogue/terrorist states, do you include Russia, do you include money laundering banks like HSBC or ING, do you include tax evasion/fraud schemes (Double Irish With a Dutch Sandwich, or just a plain McSandwich [1]), do you include wage theft, and so forth. [1] McDonald's to pay France $1.3 billion in tax fraud case https://www.business-standard.com/article/pti-stories/mcdonald-s-to-pay-france-1-3-billion-in-tax-fraud-case-122061601245_1.html https://www.business-standard.com/article/pti-stories/mcdona...

tjoff 4y ago

First google result says the worlds GDP is 91 billion USD. First google of (only) bitcoin value is 320 billion USD. How much theft occur in bitcoin every year? I don't know. It is not insignificant by any imaginable measure though. And the amounts are absolute staggering. It is a new avenue.

jaimebuelta 4y ago
The world GDP is (according to my Google search) 95 TRILLION, not billion. Market cap is also quite different from GDP, because market cap measures (sort-of) wealth. It’s like comparing the value of your house compared of your yearly income
- tjoff 4y ago
  Yeah, I was tired and confused. Google, annoyingly always tries to localize everything (protip: don't do this, google are completely worthless at localization). 96 trillion in Swedish is confusingly enough "96 biljoner" and me not even noticing it was in Swedish. Yeah I know the comparison is bad. My main point stands though.
RagnarD 4y ago
"First google result says the worlds GDP is 91 billion USD." If you didn't instantaneously realize that that's a ridiculously low number, you're way, way too ignorant to be commenting.
- tjoff 4y ago
  Looks like I was way of on both figures. Amazing huh.

ly3xqhl8g9 4y ago

3% to 5% of the entire world's GDP cannot come from organized crime since by definition organized crime operates outside the economy and is unaccounted for: no respectable mobster keeps their double-entry bookkeeping tidy for the IRS. 3-5% of world GDP equivalent value being tied to organized crime could be possible, but seems like a low value, based on how many entities do you include into "organized crime": do you include all the rogue/terrorist states, do you include Russia, do you include money laundering banks like HSBC or ING, do you include tax evasion/fraud schemes (Double Irish With a Dutch Sandwich, or just a plain McSandwich [1]), do you include wage theft, and so forth. [1] McDonald's to pay France $1.3 billion in tax fraud case https://www.business-standard.com/article/pti-stories/mcdonald-s-to-pay-france-1-3-billion-in-tax-fraud-case-122061601245_1.html https://www.business-standard.com/article/pti-stories/mcdona...