4 ms·
A more precise version of GP's comment might be: "Transferring USD to a hostile nation is significantly harder than transferring Bitcoin. Crypto's ratio of cri
by verteu 3y ago
A more precise version of GP's comment might be:
"Transferring USD to a hostile nation is significantly harder than transferring Bitcoin. Crypto's ratio of criminal to legitimate use-cases is tiny compared to USD, and continues to shrink."
- diggan 3y agoWell, of course changing a statement around 100% would change the fact if it's correct or not :) The initial claim was "Laundering USD is significantly harder than laundering Bitcoin", not about transferring currency between two countries.
- verteu 3y agoYes, GP was a layperson using "laundering" imprecisely as a proxy for "using for state-sponsored criminal activity." Your rebuttal, while pedantically correct, does not refute their larger point that Bitcoin greatly aids ransomware. Furthermore, I'd argue it is easier for ransomware groups to transfer large values of illicitly-gained Bitcoin across borders without the possibility of interception by authorities. This is a key step in international money laundering.