Pressing X to doubt on this one. You and the rest of the hater gang here seem to think bitcoin is uniquely prone to fraud, illegal activity, or otherwise some kind of secret ponzi scheme. None of which is true and none of which have any of you offered a lick of evidence to support. If yall spent as much time and energy researching bitcoin as you do b****ing about it you'd be a lot better off.
I don't think fraud is unique to bitcoin, I think bitcoin just isn't very useful unless you want to store it under your digital mattress or do varying degrees of illegal things.
If I'm doing something illegal, I'm going to use cold hard cash or gold bullion. Bitcoin is the last thing I would use . Bitcoin is a ledger. A ledger us the last thing you want to use when it comes to illegal behavior, especially one that makes every entry immutable and the simplest form to trace.
I would advise you to consider a larger perspective. There are many uses for bitcoin and unless you are actively participating in crypto, it might be harder to see that. It is a market just like any other market and people are trying to make money. We might agree for instance that non fungible tokens are silly in principle but it doesn't take away from the fact that people have made lots of money on them. There are many different crypto markets that are very active at all times. People aren't just stashing bitcoin. I probably wouldn't want to commit a crime using bitcoin considering its a public ledger btw....
Afghanistan: https://www.yahoo.com/video/afghan-women-embracing-financial-freedom-163729862.html Cuba: https://bitcoinmagazine.com/culture/cubas-bitcoin-revolution Nigeria: https://www.forbes.com/sites/abubak...-is-fueling-bitcoin-adoption/?sh=4161971e35d4 Being able to do 'illegal things' when you live in a curropt shithole is extremely important. As a statist, you will not see the value in being able to defy the state.
So what is the larger prospective.....? What are the uses? Stashing bitcoin under your digital mattress and making money off of it fall under the category to me. You're like the second person on this page who has made this claim and yet folks have found a way to obfuscate the public ledger..... this is in the US and involving BTC: Bitfinex Hacker and Wife Plead Guilty to Money Laundering Conspiracy Involving Billions in Cryptocurrency
This is literally the reason why you do not want to use Bitcoin for illegal activities. Thanks for making the case. Do you even understand the efforts he went to concealing his activities and identity but yet still got caught? The guys talents could have made him exceptionally wealthy if he put his efforts into a legitimate way.
The problem is no one is using BTC for much anything relevant except beanie babies 2.0….NK is using stolen BTC to find its nuclear weapon programs. I was told to take a larger perspective… but what is that?
As satoshi nakamoto once said, "If you don't understand, then I don't have time to explain it to you" I never blindy encourage people to jump into Bitcoin. If you don't understand and don't want the risk, then don't get into it. Go chase climate change or something. That said, I will correct your misinformation.
And there in lies the problem...only the elite and smartest in the room get it. dmoneybang: so what are some larger perspectives and real life use cases bitcoin bois: you just dont get it brah.
It's an amorphous blob... it's whatever one wants it to be. You can be an anti establishment freedom fighter or a pure capitalist trying to make a quick buck.
It has nothing to do with intelligence. There is quite a bit of material out there that presents it better than anyone here can. I am not trying to sell you on anything. If you dont want to go read the material and engage with the community, then don't. Im not upset at you nor do I think any less of you. I am not chasing you down in other threads about this topic and nobody forced you to participate in this topic.
I just linked three articles. One talking about Afghan women using bitcoin to hide their wealth from the Taliban. Another talking about how Cubans used it to get around Trump's sanctions and their failing currency. A third talking about how Nigerians used it to protect against their failing currency go google and you can find a dozen more examples
In the same page you have SpaceGhost defending bitcoin by saying you can't commit crime on it because it has a public ledger. Yet you link an article that says Afghan women are using bitcoin to hide their wealth. Also in the same page is a story about how NK is stealing billions in bitcoin, which shouldn't be possible, because, it's a public ledger and it would be foolish to commit crime with bitcoin! So which is it?
There's crime on it, but if you're big time, it's far easier to track than through offshore banks or shell corps. It's like a school of criminal fishes hiding from the sharks. NK is different in the sense that international authorities can't "unsend" the bitcoin, and no one out of their mind will step on N. Korean soil to deliver a warrant.
I apologize for stating it was impossible to commit crime on bitcoin. Please point me to my error so I can correct that post. Bitcoin IS a ledger. Again, if you do not want to have a genuine conversation about the topic, nobody is asking you to stay or trying to convince you otherwise.
If your premise is that one of the benefits of bitcoin is its ability to deter crime and then people provide many examples of crime being committed, how is that not engaging in a genuine conversation? It sounds like unless anyone says something positive about bitcoin, it's not having a genuine conversation. How can Afghan women conceal their wealth on a public ledger from the Taliban? This is supposed to be one of the perks of bitcoin right? Tallanvor linked an article saying so, therefore it must be factually true. How can you hide your wealth while still having the ability to have it tracked publicly to track crime? Unless it's crime committed in a foreign country from which you'd have no realistic way of getting back what was stolen. Then you're just tracking your funds like an Amazon shipment not going to your home address, but someone else. Neat.
My first question: Do you understand how Bitcoin works? I am going to assume no if you are comparing it to an Amazon tracking number. Second question: Do you genuinely want to understand how it works? If yes, then I (can) recommend a few good videos that will explain it much better than I could over a forum post. First: PUBLIC KEY - This is the 'address' found on the Bitcoin ledger. Anyone can see the amount of Bitcoin that is found on this ledger entry. This ledger entry has zero association to anyone or anything, other than the previous address the Bitcoin was transferred from. If you are allowing a centralized service, like Coinbase, FTX, or any of the dozens of digital exchanges to manage the security of your PRIVATE KEY for your PUBLIC KEY, then your identity is now associated to the PUBLIC KEY, or ledger entry. If there are no centralized records associating the identity to a PUBLIC KEY (in such case, the Afgan women) then nobody knows who it belongs to. Once the Afgan women can immigrate to a place that respects property rights, they can then use it however they see fit. There is NO crime in this scenario. Again, centralized entities can track the identities of the people associated to a PUBLIC KEY as they almost always require user verification and ID. From there, they can see which address the bitcoin came from and where it was transfer to. And if they do not have the identities of who sent it to you or who you sent it to, then it can be forced out of you by threat of violence. PRIVATE KEY - This is essentially the 'password' that lets a group/individual transfer the bitcoin to a different ledger address (IE: Selling/transfer it). If someone doesn't understand how to secure there private key and the pitfalls associated with it, then I do not recommend a person getting involved in owning bitcoin. There is no central authority managing the ledger/network. There is no 'undo'. There is nobody who is going to bail a person out for mismanaging their PRIVATE KEY. Yes, crime does exist on the bitcoin network. If a person mismanages their PRIVATE KEY and North Koreans are the one who take it, the US government is not going to send a fleet of warships to recoup the loss. I am not going to use bitcoin to commit a crime. It would be too easy to trace back to me and I dont have nukes and armies to protect me from the federal government.
In my experience, the answer to both of these questions is a resounding no for dmoney, sajan, adoo, and london.
