Former FBI Director Said Blockchain Is Easier to Trace Than Paper Money

Re:Former FBI Director Said Blockchain Is Easier to Trace Th... by TomSwirly on Monday October 17, 2022 @01:49PM (#33237250)

So a coin deliberately designed to evade all government regulation - what the rest of us call "laws".

This seems highly negative for society. We already lose hundreds billions of dollars a year to tax evasion.

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Re:Former FBI Director Said Blockchain Is Easier to Trace Th... by alfnor on Monday October 17, 2022 @03:47PM (#33238615)

I'd happily pay taxes for my nootropics.

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Re:Former FBI Director Said Blockchain Is Easier to Trace Th... by willmadden on Monday October 17, 2022 @03:47PM (#33238624)

It's more complicated than you describe. You are assuming laws are not selectively enforced and state actors and their sponsors are benevolent. Neither is remotely true.

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Re:Former FBI Director Said Blockchain Is Easier to Trace Th... by ViceCitySage on Monday October 17, 2022 @04:08PM (#33238893)

Crypto before going mainstream and investors getting involved was a middle finger to corrupt establishments that manipulate and steal the value of our money. Bitcoin was created and emerged as a reaction to the 2008 financial crisis and Central Banks like the Federal Reserve. Monero as a project is driven to go back to Bitcoin's original philosophy and improve on it. Also, not every law in the books is just and governments use plenty of our money for nefarious purposes.

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