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Honestly I don't really care about the freedom argument anymore. If the government wants they can just black bag you anyway. And we all know how many time lefti

Honestly I don't really care about the freedom argument anymore. If the government wants they can just black bag you anyway. And we all know how many time leftists have had someone "deplatformed" from money for thinking wrong. It just doesn't make a difference. What it would make a difference with is crime. All the drug dealing, child prostitution and money laundering from those businesses would be fucked overnight. Sure they can still do it, but it's a hell of a lot harder when everything is recorded. All it takes is one break in the case and suddenly you've got every single financial record and you've wiped out 10b in criminal profit. That would hugely benefit the world.

walterbell 3y ago
you've got every single financial record Like these records of 7-figure financial flows? https://wallstreetonparade.com/2020/09/3-count-felon-jpmorgan-chase-caught-laundering-more-dirty-money/ https://wallstreetonparade.com/2020/09/3-count-felon-jpmorga... > secret documents leaked from FinCEN, the Financial Crimes Enforcement Network, a unit of the U.S. Treasury .. “show that five global banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon — kept profiting from powerful and dangerous players even after U.S. authorities fined these financial institutions for earlier failures to stem flows of dirty money.”
logicchains 3y ago
>What it would make a difference with is crime. All the drug dealing, child prostitution and money laundering from those businesses would be fucked overnight. Sure they can still do it, but it's a hell of a lot harder when everything is recorded. "Criminals will stop using cash immediately when we make it illegal" - it doesn't work like that. Criminals would just adopt another method of payment. Even China, the country with the most authoritarian, all-pervasive internet firewall, hasn't managed to stop people using crypto to pay for sex and drugs online. There's pretty much zero chance of the west tightly controlling the internet anywhere near as much as China any time soon, so there's basically no way it could effectively ban crypto either. Even if it did manage to completely ban crypto, however, it still could not stop criminals just resorting to traditional forms of cash, backed by gold/silver/gems/precious metals. Or do you think every country in the world is going to ban all their citizens from owning any precious metals?
lisasays 3y ago
All the drug dealing, child prostitution ... would be fucked overnight Then they'll just turn to some virtual currency. Remember, their buyers are highly motivated.

walterbell 3y ago

you've got every single financial record Like these records of 7-figure financial flows? https://wallstreetonparade.com/2020/09/3-count-felon-jpmorgan-chase-caught-laundering-more-dirty-money/ https://wallstreetonparade.com/2020/09/3-count-felon-jpmorga... > secret documents leaked from FinCEN, the Financial Crimes Enforcement Network, a unit of the U.S. Treasury .. “show that five global banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon — kept profiting from powerful and dangerous players even after U.S. authorities fined these financial institutions for earlier failures to stem flows of dirty money.”

logicchains 3y ago

>What it would make a difference with is crime. All the drug dealing, child prostitution and money laundering from those businesses would be fucked overnight. Sure they can still do it, but it's a hell of a lot harder when everything is recorded. "Criminals will stop using cash immediately when we make it illegal" - it doesn't work like that. Criminals would just adopt another method of payment. Even China, the country with the most authoritarian, all-pervasive internet firewall, hasn't managed to stop people using crypto to pay for sex and drugs online. There's pretty much zero chance of the west tightly controlling the internet anywhere near as much as China any time soon, so there's basically no way it could effectively ban crypto either. Even if it did manage to completely ban crypto, however, it still could not stop criminals just resorting to traditional forms of cash, backed by gold/silver/gems/precious metals. Or do you think every country in the world is going to ban all their citizens from owning any precious metals?

lisasays 3y ago

All the drug dealing, child prostitution ... would be fucked overnight Then they'll just turn to some virtual currency. Remember, their buyers are highly motivated.