3 ms·

Uncensorable money across borders

by glerk 3y ago

colesantiago 3y ago
This is a perfect use case for criminals and ransomware gangs which is certainly why crypto is popular for these groups. Especially for funding the North Korean regime. https://www.abc.net.au/news/2023-11-18/how-north-korea-makes-a-fortune-stealing-crypto/103107824 https://www.abc.net.au/news/2023-11-18/how-north-korea-makes...
- afroboy 3y ago
  You so realise that cash and gold are used by those groups as first choice?
  - colesantiago 3y ago
    Except crypto is way easier for criminals to move funds around better than what you've suggested.
- glerk 3y ago
  Cool, but that’s not what you asked, and you’re moving the goalposts. I suggest you slow down and think about the pros/cons/tradeoffs instead of automatically going down the decision tree of this argument.
  - colesantiago 3y ago
    What you've suggested is not a positive use case at all but sure it's perfect for criminals. Great job.
    - glerk 3y ago
      Any authoritarian state will label dissidents as "criminals". If you want to flee Russia or Venezuela today without forfeiting all your property, crypto can come in handy. This is very much a positive use case if you value individual freedom. Remember that any wall and border has 2 sides.
      - colesantiago 3y ago
        Hmmm. Interesting. I can only name 1 person who is in this position you describe yet they are not fleeing Russia any time soon. So according to your logic the North Korean hackers who borrowed $2BN in crypto are not criminals in North Korea's eyes despite the US government calling them criminals? You might want to come with real world examples with a larger impact instead of tiny selective scenarios where almost nobody other than that 1 person would get themselves into.
        deleted 3y ago
        [deleted]
- sneak 3y ago
  The fact that it is useful to criminals does not mean it is not useful to non-criminals. You asked for examples of utility; it was provided. Firearms and cryptography are two additional examples of things that provide a lot of utility to their users, both innocent and criminal.
  - colesantiago 3y ago
    > "Name any positive valid use case that crypto does better than the current financial system." This isn't a positive use case. It is a negative one. So unless you are a criminal or you're sending ransomware to Joan from Nebraska for 0.5 BTC... Nope.

Uncensorable money across borders

by glerk 3y ago

Uncensorable money across borders

This is a perfect use case for criminals and ransomware gangs which is certainly why crypto is popular for these groups. Especially for funding the North Korean regime. https://www.abc.net.au/news/2023-11-18/how-north-korea-makes-a-fortune-stealing-crypto/103107824 https://www.abc.net.au/news/2023-11-18/how-north-korea-makes...

afroboy 3y ago
You so realise that cash and gold are used by those groups as first choice?
- colesantiago 3y ago
  Except crypto is way easier for criminals to move funds around better than what you've suggested.
glerk 3y ago
Cool, but that’s not what you asked, and you’re moving the goalposts. I suggest you slow down and think about the pros/cons/tradeoffs instead of automatically going down the decision tree of this argument.
- colesantiago 3y ago
  What you've suggested is not a positive use case at all but sure it's perfect for criminals. Great job.
  - glerk 3y ago
    Any authoritarian state will label dissidents as "criminals". If you want to flee Russia or Venezuela today without forfeiting all your property, crypto can come in handy. This is very much a positive use case if you value individual freedom. Remember that any wall and border has 2 sides.
    - colesantiago 3y ago
      Hmmm. Interesting. I can only name 1 person who is in this position you describe yet they are not fleeing Russia any time soon. So according to your logic the North Korean hackers who borrowed $2BN in crypto are not criminals in North Korea's eyes despite the US government calling them criminals? You might want to come with real world examples with a larger impact instead of tiny selective scenarios where almost nobody other than that 1 person would get themselves into.
      - deleted 3y ago
        [deleted]
sneak 3y ago
The fact that it is useful to criminals does not mean it is not useful to non-criminals. You asked for examples of utility; it was provided. Firearms and cryptography are two additional examples of things that provide a lot of utility to their users, both innocent and criminal.
- colesantiago 3y ago
  > "Name any positive valid use case that crypto does better than the current financial system." This isn't a positive use case. It is a negative one. So unless you are a criminal or you're sending ransomware to Joan from Nebraska for 0.5 BTC... Nope.