Bitcoin could be a contender for the worlds reserve currency, that is what the “BTC fanatics” have discussed. Currently the worlds reserve is the US dollar.
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Currently exchanges need to see ID for anyone who is exchanging their crypto for fiat otherwise it’s not happening. So good luck to anyone trying to get cash from stolen crypto.
In case you didn’t read;
“Today, cryptocurrencies are coming under increasing regulation. That means that all organisations that allow consumers and organisations to buy and sell cryptocurrencies must comply with several Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. In short, this means that cryptocurrency exchanges and other crypto companies must quickly adapt.”
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Yes they are
Very strong user privacy is achieved on L2/3. Privacy is a right and we should not give it up for criminals who will just find other means to accomplish their goals. By giving up privacy we make us even more vulnerable to criminals.
Yes it is
That’s the wrong question. The right question is why would a country expose itself to the possibility of such sanctions.
Again, I think it’s completely lost to you that if multiple countries will try to compete for more hash power it will decentralize the hash power.
There is no neutral digital money that can be transacted globally at the speed of light besides Bitcoin.
I hope so
Yeah you can just forfeit your property rights and hope the bank doesn’t freeze your account if you suddenly on the wrong side of politics.
No one said that they will give up their currency, but it will have to compete with a market of neutral currencies like Bitcoin and tech stock like crap like crypto if that’s still around.
It will not be as easy to debase their own currency if people have the freedom to store their wealth easily in a fixed supply currency.
I mean you can say it as many times as you want, it will still be wrong.
I mean you can say it as many times as you want, it’s still right.
Why ? So you bury your head in the sand again ?
I already proved you. The fact you can’t understand the proof does not talk about the proof. It talks about you.
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Bury my head in the sand? I’m here to learn as well as converse about what I already know. If you feel you have something for me to learn provide evidence which I can revise and verify, Check your ego at the entrance before you come in, you’ve made lots of claims which I tried to verify but could not.
You expect people who have revised this subject for many years to suddenly disbelieve what they know and agree with you, You can’t bully your opinion onto others, You start with your theory, then you provide evidence and then the logic of the theory and evidence is discussed.
You can’t provide evidence because none exists and BTC does exactly what it says on the tin.
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Yeah, just throw in some casual pedo association, great way of discussing, really shows intellectual honesty on your part.
Just a guess, but maybe the reason why this conversation always end the same way is you.
You seem to be very angry about something you are not even involved in. Maybe do some soul searching what the real root of your problem is.
calm down miner
I think he purchased an amount of BTC and then found investing is not as easy as he thought, the value went down and he is angry for losing money.
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To me it’s a method of completing a private transaction, Also I used to get paid in BTC for renting the processing power of my GPU’s, which I would subsequently use for a private transaction. I’ve actually not purchased BTC as an investment I have purchased gaming GPU’s so my investment was in computers which would help me earn BTC.
Also I like BTC for it’s rigid set of rules that nobody can bypass.
So no it’s not a religion, it’s just an intelligent idea.
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Yeah I pray to satoshi every night to finally ignite the moon rocket.
Lol, stay mad you clown
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That’s the definition of burying your head in the sand.
You again are not adressing any of the points I made, rather talk about me.
All it talks about, is your inability to actually understand the issue. Like when you claimed that buying anything would be a ponzi, since it’s a personal investment. You are so off topic your opinions are just that : useless words without a link to the topic being discussed.
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Whatever you say buddy.
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Bury yourself in the sand again.
I brought FACTS and you kept going off topic then ask “prove me I am wrong”. I did . You just can’t handle the truth
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Keep bullying your narrative onto others.
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No, you brought CLAIMS which are not backed up by any fact whatsoever.
Why do you seem irritated and angry over a total stranger not agreeing with your narrative?
Nobody needs you to tell them what’s what with regard to BTC they are capable of assessing something themselves. So thanks but no thanks.
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I really don’t believe that you can use bitcoin for illegal transactions. It leaves you way more exposed to subsequent investigations than using bags full of cash. Unless you want to just leave the bitcoin in your wallet forever until The Law forgets about the crimes they are investigating.
Base layer yes. Lightning network adds a lot of privacy and something like a fedimint community bank the idea is to have a big anonymity set, so even if the payment hits the Lightning network it isn’t clear where it is going.
I’m not sure what is wrong with people if they suggest we should sacrifice our privacy because potentially that also helps criminals. Lack of privacy helps criminals as well. If they get hold of financial data they know exactly where there is something to get, and accumulated date will eventually always leek.
It’s not even theoretical anymore that governments, even democratically elected ones, will abuse their power over financial services to silence their opposition. I would say that privacy and censorship resistant money is absolutely necessary for a functioning democracy.
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Can you tell me the name of an unregulated exchange?
If your claims were true you should be able to reel off names of these unregulated exchanges.
When was the last functioning democracy? 400 BC in Athens?
As I mentioned earlier I’m here to learn, I tried to find an unregulated exchange so I could somewhat verify your claims but I could not find one. So currently your claims are unverified. I’ll show yo what I did find though;
Apparently regulation doesn’t prevent this centralized exchanges from blowing up and stealing all their customer funds. It’s also worth noting that in at least one of this cases, all the customer data including their balances was made public.
KYC is the crime. People will repeatedly learn that over the next decades until enough damage has been done and enough politicians have been caught in the wake of this leeks so even they get that privacy is a necessity human right.
Meanwhile I just try to stay out of the victim set, who all have to suffer identity theft and extortion for us all to receive this revelation. But I have a feeling, @Elizabet_Forgrave and @stefnia_Freir are volunteering and have a first row seat. Very compliant. Thank you for your sacrifices. (just in case this isn’t obvious to the economists among you, this problem goes far beyond crypto exchanges)
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