Crypto currency (IF banned from CA)

[LinekersLegs]

Almost like no one has ever had cash swindled or stolen or paid for illegal stuff with dirty crime gained proceeds. But you know BTC/ETH and LTC are the scourge of the world.

Obviously there is crime in a lot of other things unrelated to cryto.

However surely it isn’t that odd to believe that cryptos lack of government oversight/rules and enhanced privacy, which many tout as huge benefits of crypto, also have the downside of making it more than usually attractive to less salubrious uses and therefore the incidence per transaction compared to traditional finance will be higher?

And does that fact that crimes exist in other mediums, despite steps being taken to reduce their prevalence, mean that it should just be tolerated in crypto without anything being done to stop it? Isn’t idealistically crypto meant to be better than traditional finance - shouldn’t that also apply to how safe people are in using it?

 

[The binman chronicles]

Obviously there is crime in a lot of other things unrelated to cryto.

However surely it isn’t that odd to believe that cryptos lack of government oversight/rules and enhanced privacy, which many tout as huge benefits of crypto, also have the downside of making it more than usually attractive to less salubrious uses and therefore the incidence per transaction compared to traditional finance will be higher?

And does that fact that crimes exist in other mediums, despite steps being taken to reduce their prevalence, mean that it should just be tolerated in crypto without anything being done to stop it? Isn’t idealistically crypto meant to be better than traditional finance - shouldn’t that also apply to how safe people are in using it?

Swings and roundabouts as far as I can see legs. The only way you lose crypto is if you trade in a brand new scheme that was set up as a con or you hand over coins as part of a dupe. This is no different than a corrupt timeshare scheme or replying back to the Nigerian Prince lottery emails.

As far as criminal activity due to it being unregulated I would think what may have happened in the early days would not happen so much now it is much more commercial. If you were dealing with 'hot' money shall we say why would you want to be paid or pay in a currency that logs every transaction so it can be traced start to finish? It's only a matter of time before this information can be requested as part of transparency move as it goes more and more mainstream.

 

[LinekersLegs]

Swings and roundabouts as far as I can see legs. The only way you lose crypto is if you trade in a brand new scheme that was set up as a con or you hand over coins as part of a dupe. This is no different than a corrupt timeshare scheme or replying back to the Nigerian Prince lottery emails.

As far as criminal activity due to it being unregulated I would think what may have happened in the early days would not happen so much now it is much more commercial. If you were dealing with 'hot' money shall we say why would you want to be paid or pay in a currency that logs every transaction so it can be traced start to finish? It's only a matter of time before this information can be requested as part of transparency move as it goes more and more mainstream.

Agree that there are similarities to being duped with Nigerian prince with some of the coin scams but don’t think your two cases are the only ways you can lose crypto. For instance if you use one of the centralized exchanges you are in a sense using them as you would a traditional bank or broker - but without the protections that those traditional provide. Binance in particular seems vulnerable to hacking and Tether appears an accident waiting to happen given its lack of reserves and in the past gave its users a haircut after a theft.

The ability to log every transaction doesn’t appear to make much dent in the appeal tbh - almost all the ransoms in ransomware attacks for example are demanded in crypto and those if anything appear to be increasing in size/frequency.

 

[YoboCopter]

Swings and roundabouts as far as I can see legs. The only way you lose crypto is if you trade in a brand new scheme that was set up as a con or you hand over coins as part of a dupe. This is no different than a corrupt timeshare scheme or replying back to the Nigerian Prince lottery emails.

As far as criminal activity due to it being unregulated I would think what may have happened in the early days would not happen so much now it is much more commercial. If you were dealing with 'hot' money shall we say why would you want to be paid or pay in a currency that logs every transaction so it can be traced start to finish? It's only a matter of time before this information can be requested as part of transparency move as it goes more and more mainstream.

Asif cash isnt used for all sorts of madness

 

[LinekersLegs]

 

[The binman chronicles]

Agree that there are similarities to being duped with Nigerian prince with some of the coin scams but don’t think your two cases are the only ways you can lose crypto. For instance if you use one of the centralized exchanges you are in a sense using them as you would a traditional bank or broker - but without the protections that those traditional provide. Binance in particular seems vulnerable to hacking and Tether appears an accident waiting to happen given its lack of reserves and in the past gave its users a haircut after a theft.

The ability to log every transaction doesn’t appear to make much dent in the appeal tbh - almost all the ransoms in ransomware attacks for example are demanded in crypto and those if anything appear to be increasing in size/frequency.

All I can say is from someone who's had them for about 5 years I've never had any issues and my friend who got me into it has been on even longer again without issue. Perhaps I got lucky in the exchange I got told to use, then again are people selecting exchanges on how much they take per transaction and the cheaper ones don't invest enough in keeping everything secure?

 

[nikom court]

 

[LinekersLegs]

lol

 

[nsno-chris]

I can’t roll a crypto and snort a fat line with it, can I????

 

[nikom court]

I can’t roll a crypto and snort a fat line with it, can I????

Don't value your wealth in coke!

 

[Kev The Rat]

Do you know what a parrot is?

 

[Death]

LL slaying all the fake money scam artists. Its a bloodbath in here.

 

[nikom court]

 

[JimmyJeffers]

Do you know what a parrot is?

Do you know what a parrot is?

 

[PhilM]

LL slaying all the fake money scam artists. Its a bloodbath in here.

She's the silent assassin of GOT: she calmly walks in, punches them right on the nose with her articulate research and strolls back out with a smile on her face.

GOT royalty in my eyes.