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Crypto trades full transparency of transaction history for making it impossible to debank. It's literally the worst thing you could use to try and do something
by suoduandao3 3y ago
Crypto trades full transparency of transaction history for making it impossible to debank. It's literally the worst thing you could use to try and do something illegal.
But, if a central authority is invested in being able to shut down any commerce it doesn't like but can't make illegal, and it does so by leaning on private parties, and you see that alliance of central government authority and their corporate donors/clients as legitimate, I suppose crypto is indeed used for non legitimate purposes.
Patreon has openly debanked people for investigating human trafficking rings tied to the European migrant crisis. At least use subscribestar if you bought the slander against crypto.
- colesantiago 3y agoSo Librapay would be a better choice here, as state and as the author of FreeTube has already setup. https://liberapay.com/FreeTube https://liberapay.com/FreeTube No need for crypto or Patreon.
- adra 3y agoI don't know why this crypto adage is so commonly beat out. Have illegal funds deposited into wallet. Send wallet funds to a large crypto exchange that doesn't play ball with regulators commingled with a bunch of people's currency. Send currency to new personal wallet. Wash trade complete. You're now using crypto anonymously to perperuate crime. Where did I go wrong?
- suoduandao3 3y ago'Comingle'. The transaction chain is always visible even when the exchanges don't play ball with regulators. The chain records who recieved every subunit from the initial illegal funds, you'd be painting a target on your entire laundry infrastructure. A few project like Monero can do what you're describing but they're a minority.
- apozem 3y agoCrypto is used all the time by criminals. The entire ransomeware industry takes hostage payments in crypto [0]. Just this morning, I read in Number Go Up [1] about Chinese gangs using Tether to steal millions with pig-butchering scams. They don’t care if it’s traceable, they care that it’s irreversible. They can just run the money through a tumbler anyway. “Criminal activity” is one the things crypto is best at, and it is disingenuous to suggest otherwise. [0]: https://www.coindesk.com/policy/2021/06/08/state-of-crypto-ransomware-is-a-crypto-problem/ https://www.coindesk.com/policy/2021/06/08/state-of-crypto-r... [1]: https://www.cnbc.com/2023/05/02/pig-butchering-scammers-make-billions-convincing-victims-of-love.html https://www.cnbc.com/2023/05/02/pig-butchering-scammers-make...