Re:Bitcoin mining is being banned in countries across the globe
by ClumsyPilot on Monday January 10, 2022 @02:27PM
(#29880383)
According to panama papers, professional money launderers mostly use normal bank accounts and offshores just fine.
Re:Bitcoin mining is being banned in countries across the globe
by satronaut on Monday January 10, 2022 @02:55PM
(#29881022)
you want to talk about corruption? look at pelosi's investment portfolio.
Minor inflation? Look at the cost of food and housing (which are left out of the CPI to make things look less bad)
Re:Bitcoin mining is being banned in countries across the globe
by LordDragonfang on Tuesday January 11, 2022 @12:20AM
(#29887896)
>Minor inflation? Look at the cost of food and housing
Housing costs have roughly doubled in the past decade (not accounting for inflation; if you account for that, it's only by 50%). Bitcoin has, on multiple occasions, changed by that same factor of two in the span of a month. Anyone who thinks cryptocurrencies represent anything other than a volatile investment vehicle at the present moment is not living in reality.
Re:Bitcoin mining is being banned in countries across the globe
by satronaut on Tuesday January 11, 2022 @11:10AM
(#29893258)
source?
I'll tell you rite now that housing prices increased 13.5% over the last year
https://www.redfin.com/us-housing-market
this corresponds with 4 trillion fiat dollars being printed in the same time period
https://libertyconservativenews.com/more-than-35-of-us-dolla...
So say what you just said to the minimum wage worker who's food and housing prices are going up
I'll take steady, minor inflation over crypto's love affair with hyper-deflation for Bitcoin, hyperinflation for most altcoins after their bubbles burst, and general instability.
And you want to talk about corruption? Crypto has a new scandal, scam, or rugpull nearly every month, and that's not even limited to altcoins. Then there's the whole thing with NFTs, which I repeatedly seen linked to the money laundering that used to go on in the art world[1]. Bad actors are attracted to crypto precisely because it's decentralized and unregulated. It's a dream come true for them, certainly.
[1] https://techcrunch.com/2021/03/24/nft_users/