Re:World Bank rejects El Salvador request for Bitcoin help
by gman83 on Thursday June 17, 2021 @02:08AM
(#27536550)
I'm very ignorant about Bitcoin, but given El Salvador's big problem with crime, doesn't adopting Bitcoin give the cartels an extremely easy way to launder their money?
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Re:World Bank rejects El Salvador request for Bitcoin help
by zakember on Thursday June 17, 2021 @02:11AM
(#27536575)
Depends on how tech savvy they are.
Bitcoin has a public ledger, so once you know who the owner is of a particular address, you can view all of their past transactions and all the addresses of those transactions, potentially exposing a lot of metadata of their activities
Re:World Bank rejects El Salvador request for Bitcoin help
by senectus1 on Thursday June 17, 2021 @02:36AM
(#27536750)
> Depends on how tech savvy they are.
no it doesn't.
Most drug runners/dealer are not chemical engineers... they just hire guys that know what they're doing.
Same in the crypto space.
The tech isn't inherently evil or criminal, its the people that use it that way that make their activities using it criminal.
Re:World Bank rejects El Salvador request for Bitcoin help
by rntksi on Thursday June 17, 2021 @02:45AM
(#27536798)
There was an article a while back on Hacker News top list where the blog author explained, in actually very simple steps, how to launder it through services such as Tornado, to disjoin the trail of money. Pretty intelligent piece of work.