News for hackers. Stuff that matters.

A comment on Another stablecoin loses peg – DEI team working to restore the peg. Parent comment

Re:Another stablecoin loses peg – DEI team working to restor... by superkuh on Tuesday May 17, 2022 @03:03PM (#31415032)
Oh? Is that what I've been doing all these years paying my VPS bills and buying computer hardware? I was money laundering? Was it also money laundering when I donated to wikileaks after the US Dept. of Justice forced the credit card companies to blacklist them? All those donations to the internet archive: just money laundering.

And little did I know that others were laundering their money through me when they donated to my websites' bitcoin addresses.

I guess everything that isn't some incorporated third party transfering the money for you must be money laundering. Corporate persons transfer money. Human persons launder. Got it.

[ Parent | on HN ]
Re:Another stablecoin loses peg – DEI team working to restor... by ryan_lane on Tuesday May 17, 2022 @10:32PM (#31418655)
Your niche use of cryptocurrency isn't a valid counterpoint to the reality that cryptocurrency, in its general use, is for gambling and money laundering.

I can use a handgun for hunting, but that doesn't mean its primary use-case is hunting.

[ Parent | on HN ]
Re:Another stablecoin loses peg – DEI team working to restor... by superkuh on Wednesday May 18, 2022 @01:08PM (#31425166)
If you accept that premise then HSBC, JPMorgan, Deutsche Bank, Standard Chartered and Bank of New York Mellon are also for money laundering primarily.
[ Parent | on HN ]
Re:Another stablecoin loses peg – DEI team working to restor... by ryan_lane on Wednesday May 18, 2022 @11:29PM (#31430348)
No, because they offer actual legitimate services that are used frequently by legitimate customers. They've also all happened to do large scale money laundering, but that isn't their primary focus and isn't how they're generally viewed.

Bitcoin is accepted as payment essentially nowhere, in the grand scheme of things. Yes, you've found some niche places that allow it, but it's rare. When I think ransomware, the first thing that comes to mind is cryptocurrency (specifically Bitcoin and ETH). When I think of money laundering, I think of NFTs, through ETH. If you talk to most normal people and ask them what they think of when you talk about bitcoin, it's probably buying illegal drugs.

[ Parent | on HN ]
Re:Another stablecoin loses peg – DEI team working to restor... by superkuh on Saturday May 21, 2022 @09:43AM (#31457820)
>If you talk to most normal people and ask them what they think of when you talk about bitcoin, it's probably buying illegal drugs.

Ah yes. The "experts" that have only heard about Bitcoin from Fox/MSNBC/etc news. I'm sure they know what they're talking about.

[ Parent | on HN ]