Re:Coffeezilla, a YouTuber Exposing Crypto Scams
by yowlingcat on Saturday May 14, 2022 @12:14PM
(#31379409)
> Number 2 is a fancy way to describe a primary use case being money laundering.
That's not entirely true. I think a more principal use case for Number 2 is purchasing things (dark web drugs, gambling, etc) outside of the usual centralized financial system rails which would stop them at the edges.
Bitcoin seems like a poor choice for money laundering because of how traceable it is; you'd need to use privacy coins for that, and even then, it's questionable (51% attack is doable in the same way that many Tor nodes are compromised).
That's not entirely true. I think a more principal use case for Number 2 is purchasing things (dark web drugs, gambling, etc) outside of the usual centralized financial system rails which would stop them at the edges.
Bitcoin seems like a poor choice for money laundering because of how traceable it is; you'd need to use privacy coins for that, and even then, it's questionable (51% attack is doable in the same way that many Tor nodes are compromised).