4 ms·
i'm just (still) glad i didn't buy into the latest fad because of common sense. all stories aside i believe that bitcoin is unsafe - and that this has been /bl
by jheriko 13y ago
i'm just (still) glad i didn't buy into the latest fad because of common sense.
all stories aside i believe that bitcoin is unsafe - and that this has been /blatantly/ obvious since i first encountered it as a suggested method to launder money and fund criminal activity.
don't buy unregulated 'currencies' with a strong history and incentive for money laundering and facilitating the black market. its violates the spirit of the law of pretty much every nation on earth.
whilst i genuinely believe that cryptocurrency is possibly the way forward - certainly a global currency which is independent of such whimsical things as nation states, politics and commodoties - i also think that it took a spectacular lack of common sense or 'street smarts' to actually spend money on bitcoins.
nice story... but i am indifferent to its truth - it doesn't negate the obvious risk of investing in bitcoin. but then many will say 'the greater the risk the greater the reward' and they are precisely correct.
NB: i barely trust the bank - i have a bank account 'under duress' as most of you probably have - that i would like to see my earnings from employment. how did that happen? why should banks have any involvement in my remuneration for work. /i would very much rather cash in hand that you can't fuck up for me because you are gambling it on the stock market under the pretense of running a business/. its not like we have self inflicted financial crises as a result or anything at all... :/
- pacofvf 13y agosome people, which probably use tin hats, thinks that bitcoin was made by the government because it makes the flow of money more traceable, since all the operations are public. The government will never use bitcoin or bitcoin-based currencies because then they couldn't cover their own traces.
- dublinben 13y agoSerious organized crime operations would also never use Bitcoin for the same reason. Physical cash still offers superior anonymity and obfuscation to BTC. Also, when you're laundering hundreds of billions of dollars, you can use real banks and the legitimate world financial system, not some fishy online currency.
- bentcorner 13y agoI'm somewhat glad as well, but only for the reason that I'm reasonably certain I wouldn't have been smart enough to see this coming and lost everything at mtgox.