The U.S. Government Is Targeting Cryptocurrency to Expand the Reach of Its Financial Surveillance

originally posted by: Bluntone22
a reply to: tamusan

I'm surprised it took so long.
Crypto is a great way to move money for illegal activities like child trafficking and drugs.

there are lots and lots of dirty money moved from BANKS to pretty dark organisations and shady "governments".
taking away anonymity from cryptos will change nothing regarding money transfer in the criminal world.
it will only make you more prone to surveillance.
that's the goal after all.

originally posted by: Gothmog

originally posted by: JinMI

originally posted by: Bluntone22
a reply to: JinMI

Uh....crypto

Right...I'm saying not moreso than the dollar.

And .....
You base that on what ?

The world runs on dollars so it’s not exactly a big assumption.

originally posted by: Bluntone22

originally posted by: Gothmog

originally posted by: JinMI

originally posted by: Bluntone22
a reply to: JinMI

Uh....crypto

Right...I'm saying not moreso than the dollar.

And .....
You base that on what ?

The world runs on dollars so it’s not exactly a big assumption.

Assumption ?
I want facts.

It couldn't go on forever.

Once the government does start regulating crypto-curriencies what value do they have?

The blockchain was always the real innovation, crypto-currincies were just the proof of concept.

originally posted by: gpols
It couldn't go on forever.

Once the government does start regulating crypto-curriencies what value do they have?

They are regulated all over Asia. The US is just a regulatory tortoise. Their value isn't in being secret and unregulated. There are crypto projects providing logistics tracking, securing financial transactions, instant fund settlement, and custom contract management. The currency is how those networks work. Rewarding those that process transactions, provide nodes, and provide liquidity, takes the middlemen out of many transactions. The whole financial services industry is full of middlemen taking a cut of everything you do. Crypto can save you money and provide income for anybody willing to provide services.

The blockchain was always the real innovation, crypto-currincies were just the proof of concept.

They've evolved well past just being proof of concept. Bitcoin was the proof. Now they're getting into discovering what these crypto assets can really do.

In ten years almost every financial transaction and thousands of other things will be using crypto in some capacity and most people will never even know it.

a reply to: Ksihkehe

It's like I was saying. The blockchain was the real innovation. The currency part of the blockchain demonstrated the abilities of a self documenting digital ledger.

There will be fees and middle men in due time as the infrastructure needed to provide the benefits of speed and stability to sustain global commerce grow so will the cost and as with anything, specialized companies will be paid to host and support the infrastructure.

Crypto is still small right now, but I will agree that it is definitely having a moment.

originally posted by: Bluntone22

originally posted by: JinMI

originally posted by: Bluntone22
a reply to: tamusan

I'm surprised it took so long.
Crypto is a great way to move money for illegal activities like child trafficking and drugs.

Compared to the USD, its negligible.

How exactly does anyone know how much of an untraceable currency is being used on illegal activities?

There's only about 15-18 million bitcoin... A few reportedly being lost. Of the remaining amount, much of it is held by institutional (for lack of a better term) investors. Not to mention its not insanely popular.

There's trillions of dollars.

I think it's pretty evident which one can host more bandwidth of illicit trade.

People will always find ways to do illegal trade.

Crypto was designed with the direct intent of insulating itself from the flaws of fiat. Regulation defeats its purpose.

Just because it can be used for illegal activities doesn't mean it should be regulated. We don't argue that for guns, nor should we argue for it when it comes to how we decide to protect out wealth.

a reply to: tamusan

But if we end up with an FBI and IRS like we have had these last 12 years you can forget about anyone on the left Social Elite ever being convicted of any banking Fraud, Bribery or Tax evasion.

That is preserve solely for punishing the Right Fiscal Conservatives or anyone who opposes the Social Elite plan for destroying America.