Crypto Criminal Uses Debate
The cluster centers on debates about cryptocurrencies' primary use cases being illicit activities like money laundering, drug dealing, ransomware, and tax evasion, contrasted with arguments defending their legitimate or non-criminal value compared to cash.
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Not true! Cryptocurrencies have real-world productive use cases such as money-laundering, ransomware, drug and weapons trade, terrorist financing etc. As well as some less-morally-wrong stuff like hiding from oppressive regimes. A bet on crypto is a bet on the future of these activities.
Hey, don't diss cryptocurrencies like that! They're not only good for pedestrian crimes like drug dealing and money laundering, cryptocurrency is the the currency of choice for the sophisticated criminal - the ransomware operator, the tax dodger, and the sanctions evader love it!
There are a lot of comments on here about crypto only being useful for criminal activity.The UN estimates that $1.6 TRILLION is laundered each year. The entire market cap of BTC is around $1.1 trillion.If crypto wasn't around, fraud and scams would still exist. The fact is that significantly more crime involves fist currency than crypto. Cash is far harder to track than crypto, so using crypto in crime is actually more dangerous because of the ability of exchanges to track transaction
Crypto provides a way to launder money, sell drugs, etc., so it is "something" by similar measure.
"Used for crimes!". This sounds like that standard argument against crypto, when cash (cars) have done that since their inception.
Wonder if this has to do with the fact that cryptocurrency primarily exists for money laundering, gambling and purchasing/selling drugs.
Use cases for crypto:* Ponzi schemes* Money laundering* Illegal drug transactionsAnything else?
This is a counter-example to the tired meme that crypto-currencies are only a benefit for criminals.
Cryptocurrencies have proved popular for drug dealing, extortion and speculation/gambling. They will probably also help with tax evasion and money laundering. Those are applications of a sort if not very positive ones. The decentralization is necessary to put the above outside government control.
ah the old debunked story "but crypto is used only for crime"https://www.forbes.com/sites/haileylennon/2021/01/19/the-fal...