Re:US Senate bill on “any digital exchanger or tumbler of di...
by senectus1 on Thursday June 15, 2017 @10:47PM
(#14566298)
Any Currency enables crime.
in fact I'd go as far as to say that it's a driving force for Crime...
Re:US Senate bill on “any digital exchanger or tumbler of di...
by Kinnard on Friday June 16, 2017 @12:13AM
(#14566632)
"If it can't be used for evil, it isn't a super power"
Re:US Senate bill on “any digital exchanger or tumbler of di...
by xg15 on Friday June 16, 2017 @02:35AM
(#14567045)
> Besides more illegal activity is conducted (in absolute and relative numbers) in fiat than in cryptocurrency.
(emphasis mine)
I'm honestly surprised by that. (Especially after it's seems to be the go-to method of payment for ransomware which should lead to huge amounts of illegal activity.)
Could you link some sources?
Re:US Senate bill on “any digital exchanger or tumbler of di...
by cbanek on Thursday June 15, 2017 @11:13PM
(#14566400)
Currency definitely enables crime. There are a few reasons why institutions (government, banks) are crazy about digital currency: auditing (taxes, crime), fees, negative interest rates.
Re:US Senate bill on “any digital exchanger or tumbler of di...
by closeparen on Friday June 16, 2017 @12:43AM
(#14566726)
We are in the process of delegitimizing cars, weapons are already taboo and illegal in liberal cities, Congress keeps trying to open phones to law enforcement, HN is enamored of European-style privacy laws that make it an onerous legal liability to have the capability for audio recording (or any other data collection), and drones were heavily curtailed by the FAA with widespread public support.
We already have currency, and it works much better than any cryptocurrency. The specific problem cryptocurrency solves is vulnerability to law enforcement (i.e. central control).
I would also be concerned if someone started selling weapons whose defining feature was their resistance to homicide investigators.
Edit: not sure how to interpret the replies to my post ("currency enables crime"). Yes the dollar/euro/pound/cryptocurrency enable crime. Should we ban them all? No. Both government-controlled currencies and cryptocurrencies enable economic activity, hence create wealth, and are a net benefit to society. Besides more illegal activity is conducted (in absolute and relative numbers) in fiat than in cryptocurrency so that's even less of a reason to ban cryptocurrency.