John McAfee indicted in connection with crytpo pump-and-dump scheme

[Trader Curt]

Lol. What value? You can't buy anything with it until you exchange for real currency. And being as volatile as it is, makes for a pretty lousy store of value. You're probably referring to speculators holding for long periods of time. Guarantee they'll never use it at the gas pump or grocery store without exchanging for dollars first.

Not true, my business accepts it as payment and I'm sure most on here would also. Not everyone has your old view on currency, and it's going to be extremely funny when crypto replaces fiat money and you will be forced to use it and you will be forced to like it.

Have a good day

 

[Space Alchemist]

Not true, my business accepts it as payment and I'm sure most on here would also. Not everyone has your old view on currency, and it's going to be extremely funny when crypto replaces fiat money and you will be forced to use it and you will be forced to like it.

Have a good day

crypto is to fiat like fiat is to gold or other commodities with actual utility, its like a double fiat

 

[ET180]

Not true, my business accepts it as payment and I'm sure most on here would also. Not everyone has your old view on currency, and it's going to be extremely funny when crypto replaces fiat money and you will be forced to use it and you will be forced to like it.

Have a good day

LOL...China wants to know where every dollar of their currency moves...social credit score, mass surveillance, control. You think they will give up on those ambitions and surrender power to crypto? Won't happen. They can kill it anytime they want. I suspect they don't currently for 2 reasons:

1. Mining brings money into their economy.
2. They think it helps to undermine the US dollar.

 

[farmerjohn1324]

Not true, my business accepts it as payment

Lol. That says it all.

 

[Nobert]

LOL...China wants to know where every dollar of their currency moves...social credit score, mass surveillance, control. You think they will give up on those ambitions and surrender power to crypto? Won't happen. They can kill it anytime they want. I suspect they don't currently for 2 reasons:

1. Mining brings money into their economy.
2. They think it helps to undermine the US dollar.

None of the regimes likes it :
https://www.elitetrader.com/et/threads/western-democratic-countries-unafraid.355890/

 

[farmerjohn1324]

None of the regimes likes it :
https://www.elitetrader.com/et/threads/western-democratic-countries-unafraid.355890/

Neither do REAL businesses lol. Anyone who says their business accepts it will immediately exchange it for dollars so they can buy necessities with it. Grocery store, gas, health insurance, etc.

 

[Pekelo]

Can you explain how a crypto token like Ethereum is facilitating crime?

Actually, Monero is the best and most private (untraceable) for that purpose.

"Monero has been launched with a strong focus on decentralization and scalability, and it enables complete privacy by using a special technique called “ring signatures.”

With this technique, there appears a group of cryptographic signatures including at least one real participant, but since they all appear valid, the real one cannot be isolated. Because of exceptional security mechanisms like this, Monero has developed something of an unsavory reputation—it has been linked to criminal operations around the world. While this is a prime candidate for making criminal transactions anonymously, the privacy inherent in Monero is also helpful to dissidents of oppressive regimes around the world. "

 

[narafa]

Actually, Monero is the best and most private (untraceable) for that purpose.

"Monero has been launched with a strong focus on decentralization and scalability, and it enables complete privacy by using a special technique called “ring signatures.”

With this technique, there appears a group of cryptographic signatures including at least one real participant, but since they all appear valid, the real one cannot be isolated. Because of exceptional security mechanisms like this, Monero has developed something of an unsavory reputation—it has been linked to criminal operations around the world. While this is a prime candidate for making criminal transactions anonymously, the privacy inherent in Monero is also helpful to dissidents of oppressive regimes around the world. "

I understand this about Monero, but still my question was about how something like Ethereum is facilitating crime? Since the post was generalizing that the role of crypto (in general) is to facilitate crime.

 

[Pekelo]

Since the post was generalizing that the role of crypto (in general) is to facilitate crime.

Think like a criminal, what is the hardest point of an anonymous blackmail/kidnapping? Obviously the money exchange. Now they have a tool when it is an easy-peasy cakewalk. They just have to provide an address, and the money is sent there.

It is mostly blackmail not kidnapping. They hack a community's water plants, electricity grid, etc. and only let them go if X dollars are paid in untraceable crypto. Google it. Or private info not released unless a fee is paid. It is cheaper for the communities to pay up then try to do a workaround it.

This is a scam not a real blackmail, but you get the picture:

https://www.consumer.ftc.gov/blog/2020/06/cryptocurrency-blackmail-scam-alert

Sextortion:

https://news.bitcoin.com/bitcoin-sextortion/

etc.etc.etc. Use your google

The newest one: (moron wanted BTC instead of Monero)

https://www.zdnet.com/article/berli...mb-nhs-hospitals-in-quest-for-bitcoin-ransom/

 

[DiceAreCast]

Ah, fuck off, you brought up the same bullshit argument before, store of value. I took your entire argument apart and stripped you naked before. Now you start all over.

Wrong, most of it is used as a store of value.