181–190 of 281 posts
Earlier quoted context omitted.
Isn't Uniswap doing a swap within the same chain?
Indeed. Alts should be wrapped so that they become swap-able with Uniswap. In that sense, Atomic swaps are superior since you have zero counter-party risk. Who guessed Bitcoin tech is superior to that of Ethereum?
Earlier quoted context omitted.
> it is absolutely impossible to hide a transaction What about tumblers?
They just shuffle coins around. Still possible to track. It's also obvious to everyone watching that the shuffling service was used. Exchanges have already started to refuse coins that passed through these services. They might as well be tainted. The real solution is to drop bitcoin and use better technology. Monero looks like the best option right now. Private transactions, concealed amounts, fungibility, low fees a…
Walk into WalMart with cash and buy a prepaid gift card. Voilà. And the best part: it works literally everywhere. Both the buying and the using. Unlike flavor-of-the-week crypto.
Though, let's be real for a second, the ways to screw up from this point are many and varied. Accidentally use your home IP address to make the purchase? Oops. Did the naughty thing at Starbucks and there just happened to be a CCTV cam on you? Oh noes.
Probably best to stay offline, use cash everywhere, limit your banking, turn off your smartphone, and move from location to location constantly.
Or just give up.
> O cruel, needless misunderstanding! O stubborn, self-willed exile from the loving breast! Two gin-scented tears trickled down the sides of his nose. But it was all right, everything was all right, the struggle was finished. He had won the victory over himself. He loved Big Brother.
You see. This is what bitcoin so fascinating... it is absolutely impossible to hide a transaction. So imagine the field day the irs would have with this if everyone used it. They basically would be able to send bills to owners of wallets. And anyone ever caught working with an undesirable would be able to have their funds more or less locked up. So now, we all watch as billions of stolen money moves and we know the m…
[0] https://www.propublica.org/article/how-the-irs-was-gutted
Earlier quoted context omitted.
I'd take that over still not receiving a stimulus check despite needing them more than ever.
Yea, my comment was more that $7.5B is $1 per person in the world or $20 for people in the US. Nowhere near something to be considered UBI. I hope you get the assistance you need.
Not sure how you'd target a geographical area though.
Earlier quoted context omitted.
So if someone buys a stick of gum from me after taking rent money from a tainted BTC address, I get flagged?
It only takes a few exchanges refusing to flag coins and the whole flagging system fails. The bad money gets mixed with the good in the exchanges wallet, and sent to random people...
they may not have a choice if the gov't regulation forces them to flag it.
You see. This is what bitcoin so fascinating... it is absolutely impossible to hide a transaction. So imagine the field day the irs would have with this if everyone used it. They basically would be able to send bills to owners of wallets. And anyone ever caught working with an undesirable would be able to have their funds more or less locked up. So now, we all watch as billions of stolen money moves and we know the m…
I wonder how many bitcoin people understand the history of banking regulations. Banks do not want to be accessory to crimes. They make plenty of money legally. So when the government says we know that you helped someone steal billions of dollars so we are going to shut you down, the banks will quickly offer to track and report and block people.
https://www.fool.com/investing/general/2014/10/01/the-comple...
A better summary wouldn't be "they make plenty of money legally." It would be they make plenty of money illegally after paying the settlements.
You see. This is what bitcoin so fascinating... it is absolutely impossible to hide a transaction. So imagine the field day the irs would have with this if everyone used it. They basically would be able to send bills to owners of wallets. And anyone ever caught working with an undesirable would be able to have their funds more or less locked up. So now, we all watch as billions of stolen money moves and we know the m…
I.e, exploiting things like identity theft, countries and exchanges with little oversight, mules, gambling, etc.
Earlier quoted context omitted.
Ye of little faith. Google: HSBC cartel money.
HSBC knew what they were doing.... Because of their records.
There’s records and then there’s “records”.
https://www.icij.org/investigations/fincen-files/hsbc-moved-...
Earlier quoted context omitted.
It's a curious question for the value proposition of blockchain denominated currencies. There is a real possibility that in the future, all stolen assets will eventually be recovered and returned to their owners. There needn't be any limit to recovery given a universal, traceable, and non-fungible transaction log. Pretty soon payment processors/recipients would start maintaining blacklists of stolen coins which they…
Also interesting: since the total number of Bitcoins is fixed, as more and more coins are used for crime and get blacklisted, the value of remaining coins will become inflated. Given a long enough timeline, there will be too few coins for the currency to remain useful. (Though to be fair, people simply losing the private keys to their wallet also has the same effect. Not sure which phenomenon would, over time, result…