Bitcoin mechanics

[buttermarket]

so people buy or transfer some money to some bank and it's deposited and credited to their computer?

where is the gov't in regulating bitcoin exchanges?

these people are taking money from the public. that is financial institution.

financial institutions are mainly regulated not for money laundering or taxes, it's mainly for fraudulent operations. even selling investments is regulated. you have to license to sell investments or stocks to the public. too many criminals selling fake investments or fraudulent investments. and take the money and run.
I mean , i cannot even open a brokerage account or even a bank account with two pieces of ID okay

 

[padutrader]

interesting point.

well made

 

[Baron]

so people buy or transfer some money to some bank and it's deposited and credited to their computer?

where is the gov't in regulating bitcoin exchanges?

these people are taking money from the public. that is financial institution.

Bitcoin exchanges here in the U.S. are regulated, but U.S. exchanges aren't the only players. There are plenty of exchanges outside of the U.S. that may not have the level of regulation (if any) that we have in the U.S.

 

[easymon1]

many criminals

mr buttermarket, it's rough out here, Keep your Eyes on your Fries!

https://www.thoughtco.com/survival-of-the-fittest-1224578
"Survival of the Fittest vs. Natural Selection
"...It is important to understand what Darwin meant by 'fittest'
Individuals that survive aren't always the strongest, fastest, or smartest. Darwin ... intended "fittest" to mean the members of the species best suited for the immediate environment, the basis of the idea of natural selection."

https://www.bbc.co.uk/news/amp/stories-50435014
Dr Ruja identified several of society's weak spots and exploited them. She knew there would be enough people either desperate enough, or greedy enough, or confused enough to take a bet on OneCoin. She understood that truth and lies are getting harder to tell apart when there is so much contradictory information online. She spotted that society's defence against OneCoin - the law-makers, the police, and also us in the media would struggle to understand what was happening.

And, most frustratingly of all, she correctly guessed that by the time we realised it, she'd be gone, along with the money.