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Arguably the feature that makes kidnappings for ransom unattractive isn't necessarily traditional banks being trusted, but rather that traditional bank transfer
by lxgr 2y ago
Arguably the feature that makes kidnappings for ransom unattractive isn't necessarily traditional banks being trusted, but rather that traditional bank transfers are usually reversible (e.g. due to a court order).
- JKCalhoun 2y agoThat and regulatory scrutiny, bank rules limiting large transfers or the fact they can take 24 hours, etc.
- lukan 2y agoBut not if the transactions are going to the caynman islands and then from there somewhere else etc. I believe. If you have a bank account in the same country, you also have an owner.
- pas 2y agoStill, it seems, the "barriers to entry" are much lower with crypto. (No need to send someone there to open a bank account, etc.) Though doing a kidnapping in the middle of France is pretty ballsy anyway.
- schoen 2y agoI haven't usually been enthusiastic about GNU Taler's "senders should be anonymous but recipients shouldn't" approach, but I guess kidnapping for ransom is an example where that policy might be beneficial.
- deleted 2y ago[deleted]
- stogot 2y agoAnd KYC
- hinkley 2y agoThat’s part of what makes them trustworthy.
- deleted 2y ago[deleted]