Bitcoin BTC
05-15-2022, 09:08 AM
#11
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Originally Posted by Gooner
So how is this different than just having an off shore account. Most of Crypto seems to be aimed at really replacing that space than a currency. Hence why administrative bodies fear it’s criminal and money laundering impacts.
There’s a reason criminals and sanctioned individuals deal in art and gold, hard to trace, hard to regulate/identify value. Sounds like crypto to me.
There’s a reason criminals and sanctioned individuals deal in art and gold, hard to trace, hard to regulate/identify value. Sounds like crypto to me.
05-15-2022, 09:20 AM
#13
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Originally Posted by PerfInit
Why do we continue to live under the current “slave/debt system”? The Private Central Bank aka Federal Reserve Note system is dying, intentionally due to inflation. “They” want total control over us and the monetary system. They have been successful since 1913.
Then in 1971, the Fed Reserve Note got de-coupled from Physical Gold, thus its value has steadily declined over the past 50+ years. Excited that our home value is rising? Its really that the value of the Federal Reserve Note is declining rapidly. “They” can’t control BTC since it is de-centralized currency and thus “they” tell us things like “BTC is used by criminals” and “BTC is too volatile”…. We will soon have a choice to make when the crisis hits. We must Choose wisely….
Then in 1971, the Fed Reserve Note got de-coupled from Physical Gold, thus its value has steadily declined over the past 50+ years. Excited that our home value is rising? Its really that the value of the Federal Reserve Note is declining rapidly. “They” can’t control BTC since it is de-centralized currency and thus “they” tell us things like “BTC is used by criminals” and “BTC is too volatile”…. We will soon have a choice to make when the crisis hits. We must Choose wisely….
05-15-2022, 09:27 AM
#14
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Originally Posted by gloopy
The percent of BTC that is used for illicit activity is nothing compared to both physical and electronic government cash. That's a red herring straw man if ever there was one. Leaving a permanent record of your illicit activities on an extremely easily accessible 100% public block chain forever makes it far, far less likely to be a conduit for illicit activity than practically anything else.
05-15-2022, 10:20 AM
#15
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Originally Posted by Gooner
So how is this different than just having an off shore account. Most of Crypto seems to be aimed at really replacing that space than a currency. Hence why administrative bodies fear it’s criminal and money laundering impacts.
There’s a reason criminals and sanctioned individuals deal in art and gold, hard to trace, hard to regulate/identify value. Sounds like crypto to me.
There’s a reason criminals and sanctioned individuals deal in art and gold, hard to trace, hard to regulate/identify value. Sounds like crypto to me.
can the FBI take your BTC from your hardware wallet - No…because they don’t have your private key. But they know it’s parked there. Move it 100 times…their computer traces it.
same issue to get cash out…you can’t use an exchange.
As pointed out, BTC isn’t being used for the illicit activity many portray.
05-15-2022, 10:50 AM
#16
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Originally Posted by Gooner
...all “they,” aka the centralized governments of the modern economic system, have done was...
05-15-2022, 10:53 AM
#17
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Originally Posted by Gooner
To this point yes that may be true. But if it is the end state point of a money making operation held in an unregulated account how is that not the same as an off shore account? Which are legal and weren’t designed for illicit activity?
05-15-2022, 10:58 AM
#18
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Originally Posted by BCan
you have to be very smart on BTC to be anonymous. If you buy BTC via a “know your customer (KYC)” exchange like coinbase, cashapp, etc…your movements on the ledger are easily traced. The FBI is now very good at tracing it.
can the FBI take your BTC from your hardware wallet - No…because they don’t have your private key. But they know it’s parked there. Move it 100 times…their computer traces it.
same issue to get cash out…you can’t use an exchange.
As pointed out, BTC isn’t being used for the illicit activity many portray.
can the FBI take your BTC from your hardware wallet - No…because they don’t have your private key. But they know it’s parked there. Move it 100 times…their computer traces it.
same issue to get cash out…you can’t use an exchange.
As pointed out, BTC isn’t being used for the illicit activity many portray.
It’s still very new technology and maybe it does make sense in the long run. At this point you’re playing against the casino, and they don’t lose often and win in the long run.
i look forward to learning more as it evolves, I will look into some books mentioned. I just haven’t seen enough to value it different than other commodities.
05-15-2022, 11:08 AM
#20
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Originally Posted by Lou Reed
Do you guys have any preferences between these hot vs cold wallets to use in lieu of Coinbase? I'm looking at options after their announcement that we would kiss our crypto goodbye if they go bankrupt.
i use ledger. Trezor similiar.
you can also keep your private key on paper. That’s less popular.
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