I would love to see the SEC get shamed by losing in court.

It makes more sense to use the even-more-anonymous fiat for money laundering, but sure, lets blame privacy coins. After the government has stolen- I mean confiscated your privacy coins, I am sure the world will become a safer place for banks- I mean the public.
 


Lol, I love how the non-kyc path leads back to the original path. It's true, too.  

Doubt it is true but if it is... Forget planning a 100k party, we will need to plan a 1 mill party.

Every country justifies war for geopolitical power. And every country has a dirty past. We should improve ourselves and our own countries instead of pointing fingers at others.

Maybe they were forced to stop inflows/outflows?


Or maybe something to do with this:

World's largest custodian bank, BNY Mellon, reports exposure to #Bitcoin ETFs.

Sorry, but your take is wrong.

If you apply that logic to something else, for example the illegal drug market, you will notice that a prohibition does not scare people away from using drugs. And because it is unregulated due to it's illegal nature, the dealers put shady and unknown chemicals into their product to make it even stronger (deadlier). The end result is still : anyone who wants to obtain drugs can do so. But a prohibition creates more unintentional deaths.

Sure, it is the customer's fault for using it, but that does not mean they deserve to suffer/die for their mistake. That is not a bonus. That is shitty governing.

Same with Mixers: they cannot be effectively banned. So banning the white market services is a counterproductive practice which will not have the intended effect of dampening mixing services. Only making it more possible for the bad ones to scam more people.


Sure, laundering large amounts of fiat is harder than smaller amounts, but as you stated yourself, it's not an impossible task. You don't even need to be Heisenberg to do it. Bitcoin is less anonymous than Fiat and much harder to launder due to it being a literal public ledger. And you would still need to provide an explanation to how you were able to afford your new Ferrari. That rings true for both cryptocurrency as well as fiat.

This is the direct result of the irresponsible and immoral government that decided mixing services should be considered illegal, despite not having the logical nor legal justification to do so.

So what happens when those services become illegal? They all go into the black market, where they ultimately scam their own customers. Just the same as the illegal, unregulated drug markets do to their customers, on the Darkweb. Does the government expect us to pretend that decentralized services do not exist? They cannot be taken down because of their decentralized nature.

You would think that the regulators understand by now, that getting rid of decentralized mixing services is as impossible as banning a plant. All they achieve by trying is creating more scammers.

I do not understand the mixxer issue anyway. If I wanted to anonymize and launder my money, I would use FIAT.

There is a thing such as false positives, especially with cryptocurrency apps. (Monero GUI wallet gives false positives, for example) but nobody cannot tell you with 100% certainty whether this is false or not. You should always keep your important stuff on an air-gapped device that has no connection to the internet.

People are too greedy. Centralized is more profitable to an individual because they can control the profit going into their pocket. A decentralized system would mean they have no control over it.

Centralized elements will always remain attack vectors. Unless it is 100% decentralized, it should be considered 100% centralized. Too bad, they had the right idea but went about it all wrong.

Good thing the wallet itself is decentralized at least. I bet the government would love to steal users funds under the pretext of enforcing some bs law.

There is a reason why Monero and Bitcoin founders are anonymous. Now we see why.

I agree that many such auctions are premeditated FOMO scams, but the giant red text is annoying. Smaller works too.

Well, if people buy NFT's, they will buy paper with scribbles on it.    Still not as bad as buying a Pizza for 10.000 BTC, if you ask me.

$64,207

I feel like pleading guilty was his big mistake. There was no strong case against him in the first place. They probably pressured CZ into a guilty plea just to make an example of him.

Most people will probably call gambling a bad hobby. Nonetheless, it is a hobby.

But then again anything can be considered a hobby, so giving gambling that easily attainable title does not really give it legitimacy as a hobby.

Instead of a hobby, I would say it is just meaningless entertainment. And you cannot really call entertainment a hobby. It's just an exciting distraction that is sometimes needed for that extra dopamine buzz.

CZ does not deserve to go to jail for something that would have been possible without a centralized exchange like Binance anyway. The regulations are not enforceable as they are currently. At least not for cryptocurrency.

By itself, alone?
No. The blockchain is not private. It obviously needs to be public.

But you are removing "mixers or any other interference" out of the equation. They are an intrinsic part of the Bitcoin ecosystem and everything connected to it through decentralized, non-custodial, open source methods.

So yes, Bitcoin is technically only fungible because of what is built on top but it has the intrinsic 'methods' to be made fungible in the first place. Therefore it is intrinsically fungible.

I think you're both confusing privacy with anonymity. Bitcoin was never anonymous and it cannot stop the government from snooping on you through centralized means. (Although you could maintain anonymity as well as privacy, if you really wanted to.)

Ok. I swap my mixxed Bitcoin for Monero, send that Monero between wallets and swap that Monero back for a mixxed Bitcoin. Explain how you would justify or even filter out a "tainted" Bitcoin in this situation. The fact that you cannot tear up a 1 dollar bill and reconstitute it with the parts of a different dollar bill is what makes it non-fungible. The same cannot be said for 1 Bitcoin.

Good morning, WO!

Another day, another Dollar Bitcoin!