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Re:Hard Problems in Cryptocurrency: Five Years Later by cdiddy2 on Sunday November 24, 2019 @10:34AM (#21620971)
These are problems that aren't fixed in traditional money either. Money still gets to terrorists and still gets laundered through our biggest banks.
Re:Hard Problems in Cryptocurrency: Five Years Later by acdha on Sunday November 24, 2019 @10:49AM (#21621056)
Yes, but note that there are laws and policies around it rather than people saying the question should be unasked.
Re:Hard Problems in Cryptocurrency: Five Years Later by rmtech on Sunday November 24, 2019 @11:12AM (#21621262)
I willingly concede that legacy/fiat money is better at stopping bad people/criminals/terrorists etc from having access to money.
Re:Hard Problems in Cryptocurrency: Five Years Later by alphydan on Sunday November 24, 2019 @01:25PM (#21622254)
It is hard to make a definitive statement either way. For example:

> Analysts estimate that underground economic transactions account for one-third (33%!) of the total economy in developing countries and slightly more than 10% of the total economy in developed countries. [0]

On the Bitcoin blockchain it may be around 19% (approximately USD $380bn in yearly transactions on Bitcoin [1], $72bn of which may be illegal [2])

So it's hard to say which "monetary system" is doing better in that regard. Of course, I would argue that cryptocurrencies are still in the experimental phase, trying to figure out where they are going and how.

[0] https://www.investopedia.com/articles/markets-economy/062216... [1] https://www.blockchain.com/charts/estimated-transaction-volu... [2] https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3102645

Re:Hard Problems in Cryptocurrency: Five Years Later by arcticbull on Monday November 25, 2019 @02:43AM (#21626190)
Once you eliminate the fake transactions, wash trading, tape painting, manipulation, etc, I'd wager you're left with a much much larger proportion of crypto transactions being illicit. Probably close to 100% if you exclude speculation too, since only about 2 or 3 big merchants accept crypto at all.
Re:Hard Problems in Cryptocurrency: Five Years Later by rmtech on Monday November 25, 2019 @05:41PM (#21633595)
For now, but remember that crypto essentially doesn't work at the moment because of scaling problems