Bitcoin is blood money and always has been! It was used for the black market Silk Road back in the day and it’s kind of odd that it’s about a the same price as a rug on wayfair.
When the Dam breaks, so does BTC…then we will have ISO20022
XRP will be used for institutions
XLM will be the ‘people’s’ currency
That’s what WHIP has said, but what do I know, we could all be going for a ride haha
Bitcoin is used for evil because it works, anything that is as good as cash at protecting privacy is both going to protect us from tyrants AND allow for evil people to do evil things. You cant have it both ways.
All they need is your wallet address. They can easily correlate wallet addresses to people and/or corporations. All transactions are on the public ledger. Bitcoin is not private at all. Every transaction is public. It's the perfect tool to track and trace everyone.
Private coins like Monero or pirate chain address these problems. Bitcoin is not it. Should not be worth what it is. It's value is running entirely on brand recognition and blind faith.
If you buy Bitcoin or most crypto from KYC places like Coinbase, the currency is VERY TRACEABLE. It's a public blockchain, so if they know who you are, and what coin they give you, then they have a full trail of what you did with it from there. It's not like cash at all in that sense. You might want to update you understanding of crypto because it's not private at all unless you get it anonymously, and that that ship has sailed for most of the West. Even if you get it anonymously, if you spend it it can be backtracked to the wallet you're holding it in. A lot of the "silk road" people got tracked and sent to prison.
Initially it was easy to mine and you could trade with just a logon account, but that changed a while ago where you need KYC in NA, but I don't know how it is around the world. I imagine there is some country out there that lets you buy/sell without it, but I haven't looked :)
Except you can easily launder bitcoin, if I trade bitcoin for cash and then bitcoin again and then some other crypto and blah blah blah, it's not hard to do as long as the bitcoin you start with arent stolen or something.
What's to stop me from going on craigslist or local bitcoins and trading bitcoin and cash? How are you going to track that?
The open ledger prevents widescale criminal activity and fraud, not so much a problem for regular people.
Well assuming they can't track your account on those sites (ip, email), or a phone connection connecting the theoretical buyer to the seller "burner" that's truly unlinked to car/store), you still have the crypto owner got it from somewhere and then would likely be able to describe you to authorities if you made a face to face transaction. And the more shifty you are, the more likely the person would be suspicious and attentive.
And then wherever you spend the crypto could be tracked and potentially glean information back to you from that side because a retailer would have cameras or people they interacted with, etc.
But yes, I'm sure it's possible, just a lot less likely now than say 10 years ago.
You can make the exact same argument about guns, cash, pretty much any technology that empowers people can also empower evil. You're just being childish.
Aww don’t attack!! We’re in this together, right? WWG1WGA?
This is the exact problem with the world
1 person has an idea, another person argues and then the first person with the original idea lashes out because the ideas aren’t the same
Bitcoin is blood money and always has been! It was used for the black market Silk Road back in the day and it’s kind of odd that it’s about a the same price as a rug on wayfair.
When the Dam breaks, so does BTC…then we will have ISO20022
XRP will be used for institutions XLM will be the ‘people’s’ currency
That’s what WHIP has said, but what do I know, we could all be going for a ride haha
Dread Pirate Roberts did nothing wrong.
😎
Bitcoin is used for evil because it works, anything that is as good as cash at protecting privacy is both going to protect us from tyrants AND allow for evil people to do evil things. You cant have it both ways.
Very traceable
If it’s on the internet (anything) I’m pretty sure it’s traceable lol
And if I send a bitcoin to a website that mixes all the coins and sends me back the same amount randomly, for a small fee. How do you trace that?
Lol the small fee is a start But I’m assuming you have a profile and an ‘identity’ through this website?
From your wallet, to another wallet, back to your wallet.
All they need is your wallet address. They can easily correlate wallet addresses to people and/or corporations. All transactions are on the public ledger. Bitcoin is not private at all. Every transaction is public. It's the perfect tool to track and trace everyone.
Private coins like Monero or pirate chain address these problems. Bitcoin is not it. Should not be worth what it is. It's value is running entirely on brand recognition and blind faith.
If you buy Bitcoin or most crypto from KYC places like Coinbase, the currency is VERY TRACEABLE. It's a public blockchain, so if they know who you are, and what coin they give you, then they have a full trail of what you did with it from there. It's not like cash at all in that sense. You might want to update you understanding of crypto because it's not private at all unless you get it anonymously, and that that ship has sailed for most of the West. Even if you get it anonymously, if you spend it it can be backtracked to the wallet you're holding it in. A lot of the "silk road" people got tracked and sent to prison.
where do you get crypto without going through KYC?
Initially it was easy to mine and you could trade with just a logon account, but that changed a while ago where you need KYC in NA, but I don't know how it is around the world. I imagine there is some country out there that lets you buy/sell without it, but I haven't looked :)
Except you can easily launder bitcoin, if I trade bitcoin for cash and then bitcoin again and then some other crypto and blah blah blah, it's not hard to do as long as the bitcoin you start with arent stolen or something.
What's to stop me from going on craigslist or local bitcoins and trading bitcoin and cash? How are you going to track that?
The open ledger prevents widescale criminal activity and fraud, not so much a problem for regular people.
Well assuming they can't track your account on those sites (ip, email), or a phone connection connecting the theoretical buyer to the seller "burner" that's truly unlinked to car/store), you still have the crypto owner got it from somewhere and then would likely be able to describe you to authorities if you made a face to face transaction. And the more shifty you are, the more likely the person would be suspicious and attentive.
And then wherever you spend the crypto could be tracked and potentially glean information back to you from that side because a retailer would have cameras or people they interacted with, etc.
But yes, I'm sure it's possible, just a lot less likely now than say 10 years ago.
You can make the exact same argument about guns, cash, pretty much any technology that empowers people can also empower evil. You're just being childish.
Aww don’t attack!! We’re in this together, right? WWG1WGA? This is the exact problem with the world 1 person has an idea, another person argues and then the first person with the original idea lashes out because the ideas aren’t the same