So how do you convert it to fiat and use the money like a normal person ? Trade your usb stick full of crapto via Craiglist in the middle of the night in a dark alley ? Good luck.
Canada's Seizure Of Crypto From Freedom Convoy Highlights Digital Currency's Flaws
- Thread starter ajacobson
- Start date
So what...
People will face palm, but let me tell you when they said they had to stop counting in multiple states at the same time, my bullshit detector went wayyyyyyyyyyyyyyyyyyyyyy up.
When they resumed counting, they "found" many Biden mail in ballots. Military mail in ballots ALL for Biden? OK brah.
There used to be a saying, which they don't care about anymore, you not only want to avoid impropriety, you want to avoid even the appearance of impropriety.
Easy, just sell on a P2P exchange, you can also find conversion sources on the web that don't use a banking system. Or there are many who would be glad to trade at a discounted rate. Or if you travel to another country there are also many options there.
Have a great day!
Did I say anything that's not factual? Did they not stop counting in multiple swing states at the same time?
When counting resumed, did Biden's counts dramatically increase?
Is my information faulty? I'm willing (HAPPY) to be wrong.
Canada's Seizure Of Crypto From Freedom Convoy Highlights Digital Currency's Flaws
"Bitcoin is not as good as its marketers claim it to be at being a censorship-resistant payment rail"
By
Erin Marquis
Yesterday 4:30PM
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A flatbed removes a truck from the convoy after police cleared Wellington Street, previously occupied by the Freedom Convoy in Ottawa, on February 19, 2022. - Ottawa Police Services barricaded Wellington St. around Parliament Hill, clearing up the trucks and the camps that had been in Ottawa since January 28, 2022. Police in Canada deployed to dislodge the final truckers and protesters from downtown Ottawa, in a mostly peaceful operation aimed at bringing an end to three weeks of demonstrations over Covid-19 health rules. (Photo by Andrej Ivanov / AFP)
Imagehoto by ANDREJ IVANOV/AFP via Getty Images(Getty Images)
Canadian law enforcement seized an unspecified amount of crypto donated to theFreedom Convoythat terrorized the city for weeks last month. The crackdown highlighted how digital currency’s security bona fides stand up to real world tests. It’s definitely not everything boosters have promised.
Nicholas St. Louis was “Bitcoin Team Lead” for the Freedom Convoy protest. Once GoFundMe froze the protest’s $10 million in contributions, St. Louis proposed raising funds via Bitcoin. He felt the digital currency was “Uncensorable, permissionless and when you custody it properly it is unconfiscatable,” according to theCalgary Herald.
Police would put that assumption to the test. They raid St. Louis’ home for the funds’ private keys less than an hour after a judge order the digital currency handed over. Louis claims the raid was in violation of the court order, but when you advertise your funds as “unconfiscatable” police have an interest in acting quickly before any monkey business can occur.
Of course a cryptocurrency is traceable. That’s the whole point of recording your ownership on a blockchain. You could possibly buy private keys in person with real cash (the actual secure, untraceable way to buy stuff),but there isn’t much point to crypto if you can’t transfer it into real world dollars. That’s where crypto exchanges come in as a weakbut necessary point for the currency.
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It turns out, the less a country regulates crypto, the safer it is. From the Herald:
There are various tools and tactics, such as privacymixers, that can make it more difficult for people to trace where cryptocurrency originated and ended up. Michael Fasanello, the former director of training and regulatory affairs at Blockchain Intelligence Group, said the convoy fundraiser doesn’t appear to have made use of them, however.
The often-repeated concept that cryptocurrency is useful to criminals because they’re difficult to trace is a myth, Fasanello said. “Depending on the circumstances, it can be extremely transparent and very traceable.”
John Paul Koning, a Montreal-based financial blogger and a columnist with the cryptocurrency news outlet CoinDesk, said Canada’s regulatory regime for cryptocurrency-trading platforms likely helped make the various freezing orders on the Bitcoin raised in support of the convoy effective. The past year has seen Canadian securities regulatorsassertjurisdiction over the sector, including platforms based outside the country—giving them oversight over key infrastructure people need to turn crypto into money they can actually spend.
Koning said Russia, a countryaffiliatedwith about three-quarters of global ransomware revenue, according to blockchain analytics firm Chainalysis, provides an interesting counterexample. Somewhat ironically, cryptocurrency’s censorship-resistant properties work better in countries where the sector is less regulated, he said.
“Bitcoin is not as good as its marketers claim it to be at being a censorship-resistant payment rail,” Koning said. “The exchanges are key to making the stuff useful. You’ve got to sell it somehow.”
LOL This article looks like it was written from a begginer journalist.
The biggest problem this guy had was having his private keys in a place where someone could find them.
The guy who wrote this article doesn't seem too intelligent, this is not a "Crypto flaw" this is more of a user flaw. And the people who believe crypto is flawed from this article aren't very intelligent either.
So in conclusion to this thread, it's safe to say that this "freezing of his assets" was all because he left his private keys out in the open, and not a flaw with crypto. As this article wrongly suggests.
A P2P exchange that does not use a banking system... so either Craigslist or move to El Salvador
