Re:Coinbase and the Widespread Adoption of Cryptocurrency
by cryptobeanbaby on Wednesday August 01, 2018 @05:10PM
(#17667023)
Ah yes, like how Coinbase told its investors that Bitcoin is great for money laundering and bypassing sanctions?
Immune to country-
specific sanctions
(e.g. Russia-Visa)
Re:Coinbase and the Widespread Adoption of Cryptocurrency
by pavlov on Wednesday August 01, 2018 @04:51PM
(#17666870)
> ... niche where it’s actually good at: large money transfers across international boundaries
Is Bitcoin even good at that?
If you're going to transfer a million dollars from Nigeria to the USA, presumably you're going to want to cash it out at the other end. If the exchange providing your USD follows the law, they'll be asking the same questions concerning the provenance of the $1M that would get asked for a regular wire transfer. So you're not really getting access to the money any quicker in the end.
Of course if the intent is to diffuse the $1M into smaller crypto transactions and cash out those under the radar... Well, that's a different niche entirely than just plain old "large international wires".
Re:Coinbase and the Widespread Adoption of Cryptocurrency
by Yizahi on Wednesday August 01, 2018 @05:12PM
(#17667043)
That is including or excluding paying capital gains taxes that is required for cashing out such transactions?
Re:Coinbase and the Widespread Adoption of Cryptocurrency
by lost953 on Wednesday August 01, 2018 @04:51PM
(#17666873)
aka Crime (for the most part)
Rather than focusing on what crypto is bad at (nearly everything because trust is useful for 99% of its applications), crypto should focus on the niche where it’s actually good at: large money transfers across international boundaries.