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681 points Anon84 | 1 comments | | HN request time: 0s | source
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phplovesong ◴[] No.46190528[source]
The original promise of crypto was lost a LONG time ago.

Instead of being a true rival to FIAT, it became a thing with a toxic-as-hell commumity, fraud, and basically its nothing more than a high risk stock. The risk is NOT only "will this go up or down" but you have a high risk of being robbed, as have happened to millions of people.

Maybe there will be a better alternative in the future, but right now bitcoin is not it.

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amelius ◴[] No.46190719[source]
To add to that, crypto is also a gift from heaven for criminals who need to receive ransoms.
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imglorp ◴[] No.46191590[source]
Anonymous crypto, yes.

But if you're suggesting blockchain is anonymous and payments are untraceable, that's not the case for bitcoin at least. It's a gift to law enforcement, if they cared enough to trace btc transactions.

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Yizahi ◴[] No.46191930[source]
In practice all tokens including BTC are massively used for law evasion. Criminal don't need any fancy Monero for that, they only need to break the chain once, or maybe a few times an that is enough. That usually happens at the entry points, a criminal backe exchanges of any size will happily take your cash or digital money and exchange then for any tokens you like and vice versa. A politician then declares that his several BTC worth a few millions were "fairly mined" and nothing to see there. Or a corrupt government pays with tokens for some sanctioned wares. The whole Axis of Losers trade is propped up by mafia's USDT, which are used to trade between Axis countries and willing collaborators like India, to buy oil/rockets/chips/soldiers/anything, with central exchange in Dubai and other petrocratias.
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gsky ◴[] No.46193213{3}[source]
India banned crypto. It never even traded using crypto. By the way a country of billion plus should have freedom to do trade in whatever way they like
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1. amarant ◴[] No.46194401{4}[source]
I tried to pay my parking ticket in heroin, and they threw me in jail!

Viva la revolución!