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A comment on What Bitcoin’s White Paper Got Right, Wrong and What We Still Don’t Know (2018). Parent comment

Re:What Bitcoin’s White Paper Got Right, Wrong and What We S... by UncleDiaz12 on Saturday October 31, 2020 @12:16PM (#24952650)
Anti-Money Laundering laws only catch 0.5% of illicit funds, yet cost 100x the money recovered.

https://www.ledgerinsights.com/anti-money-laundering-has-les...

Also, the $10K threshold for additional AML scrutiny has been the same amount for nearly 50 years. It should be close to $50k in today's dollars due to inflation.

[ Parent | on HN ]
Re:What Bitcoin’s White Paper Got Right, Wrong and What We S... by nmlnn on Saturday October 31, 2020 @04:28PM (#24954936)
In 1970 when these AML thresholds were set a dollar was tied to gold at $35/oz. So based on the gold price today it's actually:

$10,000 (1970) = $10,000 x 1880/35 = ~$537,000 (2020)

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