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Re:Yes, Crypto Is All a Scam by luma on Tuesday February 07, 2023 @08:49AM (#34692661)
The overwhelming volume is in wash trading, which is just a different kind of fraud.

It's all fraud.

Re:Yes, Crypto Is All a Scam by readthenotes1 on Tuesday February 07, 2023 @05:48PM (#34700988)
is using bitcoin to transfer some of l your wealth out of country to avoid currency controls fraud? I don't think so but IANAL

I read that crypto is also being used for rapid cross country remittances, which may be totally legal.

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Don't think I'm a crypto fan. The value is all based purely on shared beliefs. At least government fiat is backed by the taxing authority (while undermined by the printing authority)

Re:Yes, Crypto Is All a Scam by luma on Wednesday February 08, 2023 @06:14AM (#34706638)
If it's being used instead of some other wire transfer in order to dodge government rules on capital controls etc, then yes it's used to evade the legal system and thus also fraud. The fees are not incredibly low nor is the service particularly user friendly or reliable compared to something like Western Union. Bitcoin et al is not providing a useful alternative to existing, legal services. They do of course provide an alternative for other services.