Re:China says it wants to eliminate Bitcoin mining
by arcticbull on Tuesday April 09, 2019 @05:06PM
(#19618926)
A decentralized (except for China), un-regulated payment system currently being used primarily to break the law with the purchase of illicit narcotics, goods and services is going to prevent the funding of terrorism how exactly? My understanding is these groups are using it already. Here's a writeup on how North Korea is actively using Bitcoin to circumvent fiat sanctions [1] from a pro-crypto news source. Here's one on how Mexican cartels use it [2]. If anything this means we'll need a bigger army. How is abuse going to be abolished through a system literally designed to prevent any form of controls?
[1] https://cointelegraph.com/news/north-korea-increasingly-uses...
[2] https://www.ccn.com/how-mexican-cartels-use-chinese-crypto-b...