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memecoins have nothing to do with BTC. Talk about the price was always a thing because BTC is a currency, thus price is key. The tech is good, or it was at the

by dgrr19 1y ago

memecoins have nothing to do with BTC. Talk about the price was always a thing because BTC is a currency, thus price is key. The tech is good, or it was at the time. I don't see the case for money laundering in BTC, only one could be XMR and mixers in ETH. Apart from that, in general cryptocurrency is not good for laundering since the blockchain can be tracked.

mvdtnz 1y ago
> because BTC is a currency The big narrative I keep hearing about bitcoin the past ~8 years is that it's no longer considered a currency even by the true believers.
- trealira 1y ago
  I'm not really a Bitcoin true believer, but it seems like a currency to me. I've had to use it. There's certain medication that's cheaper for me to buy online from overseas than it is in the US (where I live) even with my insurance. Those from whom I've bought it only accept payment in Bitcoin. I'm going to admit that it seems kind of sketchy, but I'm grateful for the existence of BTC because of it, and I think it really does seem like a good decentralized currency in that situation. Maybe skeptics would label this money laundering or criminal activity, but I'm using it to buy medication I have a prescription for; if this is illicit, it feels like it shouldn't be.
satanfirst 1y ago
Watching how it is working. That the laundering can be tracked is just an expense to the process of recruiting suckers to be the visible parties who eventually do time and don't know about anything but the other visible parties.
- dgrr19 1y ago
  But that also happens in the fiat system, so where's the flaw in crypto?
  - reaperducer 1y ago
    But that also happens in the fiat system, so where's the flaw in crypto? The flaw is that crypto was supposed to be better than fiat.
  - os2warpman 1y ago
    If real money enabled laundering as seamlessly as fake e-money I would call for its abolition and a return to the carving of giant stone wheels as currency. Any attempt to say they are on the same level is intellectual bankruptcy. Like asking "What's the problem with restricting access to VX? Everyone's got a can of bug spray in their cabinet and they're both organophosphates, brah!"

by dgrr19 1y ago

mvdtnz 1y ago

> because BTC is a currency The big narrative I keep hearing about bitcoin the past ~8 years is that it's no longer considered a currency even by the true believers.

trealira 1y ago
I'm not really a Bitcoin true believer, but it seems like a currency to me. I've had to use it. There's certain medication that's cheaper for me to buy online from overseas than it is in the US (where I live) even with my insurance. Those from whom I've bought it only accept payment in Bitcoin. I'm going to admit that it seems kind of sketchy, but I'm grateful for the existence of BTC because of it, and I think it really does seem like a good decentralized currency in that situation. Maybe skeptics would label this money laundering or criminal activity, but I'm using it to buy medication I have a prescription for; if this is illicit, it feels like it shouldn't be.

satanfirst 1y ago

Watching how it is working. That the laundering can be tracked is just an expense to the process of recruiting suckers to be the visible parties who eventually do time and don't know about anything but the other visible parties.

dgrr19 1y ago
But that also happens in the fiat system, so where's the flaw in crypto?
- reaperducer 1y ago
  But that also happens in the fiat system, so where's the flaw in crypto? The flaw is that crypto was supposed to be better than fiat.
- os2warpman 1y ago
  If real money enabled laundering as seamlessly as fake e-money I would call for its abolition and a return to the carving of giant stone wheels as currency. Any attempt to say they are on the same level is intellectual bankruptcy. Like asking "What's the problem with restricting access to VX? Everyone's got a can of bug spray in their cabinet and they're both organophosphates, brah!"