Comment on Opinion | Don’t Get Fooled Again by Crypto
realitista@lemm.ee 5 weeks agoIt’s a great platform for being able to transfer money that would otherwise be under sanctions and for storing criminal profits. And that’s probably what it will always be for.
DdCno1@beehaw.org 5 weeks ago
It’s a bit too traceable for that though.
realitista@lemm.ee 5 weeks ago
It’s traceable but also possible to hide your identity, especially if you are a major criminal or government under sanctions.
jarfil@beehaw.org 5 weeks ago
You can hide your identity on Monero, not so much on Bitcoin. BTC either gets linked to a series of identities, or is freshly mined, both of which can be allowed or denied by exchanges via law enforcement.
In the traditional finance system, hiding relies on bribery, mules, and straight up hacking. Those are common to both systems, and law enforcement knows how to deal with them.