This argument is old and obsolete. All crypto is 100% traceable on the blockchain. Cash is not traceable. The majority of criminals would prefer cash or laundering their money, over using crypto.
No, its traceable if you dox enough addresses, but not censorable or revocable. So they might come and bash you on the head until you give up your keys, but that attack is not scalable, whereas freezing bank accounts is scalable.
You should pray that we get tokenized securities. That will eliminate the entire DTCC and gut the SEC.
It will also eliminate naked shorting and synthetic shares.
You would have Bloomberg terminal level information at your fingertips and you wouldn't need a broker to make trades. Trades would only cost pennies and you would actually own the stocks.
This argument is old and obsolete. All crypto is 100% traceable on the blockchain. Cash is not traceable. The majority of criminals would prefer cash or laundering their money, over using crypto.
Would traceable also mean a left wing government could retroactively tax transactions? Or retroactively outlaw transactions?
No, its traceable if you dox enough addresses, but not censorable or revocable. So they might come and bash you on the head until you give up your keys, but that attack is not scalable, whereas freezing bank accounts is scalable.
"stable"coins, tokenized stocks..
Two wildly different things.
You should pray that we get tokenized securities. That will eliminate the entire DTCC and gut the SEC.
It will also eliminate naked shorting and synthetic shares.
You would have Bloomberg terminal level information at your fingertips and you wouldn't need a broker to make trades. Trades would only cost pennies and you would actually own the stocks.
Yes, but by some transparent decentralized mechanism and not by some shady coinmarkets to suppress certain stocks even more.
It's coming. Very very soon.
It will be all that and more.
But 1st, the biggest stock market crash in history.
Out with the old and in with the new.