CBDC don’t have to be crypto. They can be just any kind of virtual currency. You don’t need to waste all the compute to ensure the chain doesn’t get forked. CBDCs aren’t going to be distributed and anarchistic like bitcoin and Eth.
Facilitating crime is and will always be the main usecase for crypto. Because conventional banks are already pretty good at all the regular stuff. Convenient, reliable, kinda trustworthy. Crypto doesn’t solve any real problems, except for criminals who want to move money, launder it, all out of reach of gov’t.
Facilitating crime is and will always be the main usecase for crypto. Because conventional banks are already pretty good at all the regular stuff. Convenient, reliable, kinda trustworthy.
I don't think so. The amount of fraud in crypto is nothing compared to what has been exposed in the FinCEN leaks [0], which the fraud is even worse with the banks allowing the laundering of trillions of dollars for criminals, drug-lords and gangsters. The same is true with the Zelle payments platform also rife with rampant fraud. [1]
Crypto doesn’t solve any real problems, except for criminals who want to move money, launder it, all out of reach of gov’t.
Criminals that attempt to launder money on a transparent and traceable blockchain will be caught as soon as the money hits the exchange or frozen once swapped into stablecoins.
Criminals that attempt to launder money on a transparent and traceable blockchain
Remember the NFT craze? Use dirty money to pump the price of some flavor of NFT. Then use clean money to speculate on a sure thing and take out the profit. Money got laundered but nothing shows up on any chain that links the dirty money to the clean speculation profits. You have to be a little clever, but blockchains absolutely don't prevent money laundering.
Crypto doesn’t solve any real problems, except for criminals who want to move money, launder it, all out of reach of gov’t.
Thank you for enlightening the dirty masses. Maybe you have other insights, for example should one invest into banks or wait for the "crash". In any case I think your opinion is worth nothing and should be prefaced with "IMHO", rather than stating something we all know is logically impossible to have something and it to be useless.
Here is a logical exercise, if something exists it is useful by the fact that it has a name for example which groups loose entities into a whole. I got more of this ...
People sure get agitated when I point out -- correctly I might add -- that crypto is uniquely suited for crime. The SEC is busting crypto exchanges left and right, if you haven't noticed.
If you had stopped with your first paragraph, I would’ve agreed with you. The second paragraph is hyperbole, and is no better than what the loudest cryptocurrency enthusiasts would say about your banks and your trust systems. To make bold claims that banks are reliable or imply that banks don’t launder money (only cryptocurrency facilitates that) is disingenuous.
Comments
CBDC don’t have to be crypto. They can be just any kind of virtual currency. You don’t need to waste all the compute to ensure the chain doesn’t get forked. CBDCs aren’t going to be distributed and anarchistic like bitcoin and Eth.
Facilitating crime is and will always be the main usecase for crypto. Because conventional banks are already pretty good at all the regular stuff. Convenient, reliable, kinda trustworthy. Crypto doesn’t solve any real problems, except for criminals who want to move money, launder it, all out of reach of gov’t.
I don't think so. The amount of fraud in crypto is nothing compared to what has been exposed in the FinCEN leaks [0], which the fraud is even worse with the banks allowing the laundering of trillions of dollars for criminals, drug-lords and gangsters. The same is true with the Zelle payments platform also rife with rampant fraud. [1]
Criminals that attempt to launder money on a transparent and traceable blockchain will be caught as soon as the money hits the exchange or frozen once swapped into stablecoins.
[0] https://www.icij.org/investigations/fincen-files/global-bank...
[1] https://www.nytimes.com/2022/03/06/business/payments-fraud-z...
Remember the NFT craze? Use dirty money to pump the price of some flavor of NFT. Then use clean money to speculate on a sure thing and take out the profit. Money got laundered but nothing shows up on any chain that links the dirty money to the clean speculation profits. You have to be a little clever, but blockchains absolutely don't prevent money laundering.
Thank you for enlightening the dirty masses. Maybe you have other insights, for example should one invest into banks or wait for the "crash". In any case I think your opinion is worth nothing and should be prefaced with "IMHO", rather than stating something we all know is logically impossible to have something and it to be useless. Here is a logical exercise, if something exists it is useful by the fact that it has a name for example which groups loose entities into a whole. I got more of this ...
People sure get agitated when I point out -- correctly I might add -- that crypto is uniquely suited for crime. The SEC is busting crypto exchanges left and right, if you haven't noticed.
SEC is about to approve a crypto ETF and we're done discussing usefulness or lack thereof... or should I say blah blah, blah.
If you had stopped with your first paragraph, I would’ve agreed with you. The second paragraph is hyperbole, and is no better than what the loudest cryptocurrency enthusiasts would say about your banks and your trust systems. To make bold claims that banks are reliable or imply that banks don’t launder money (only cryptocurrency facilitates that) is disingenuous.