This news here *IS* bad news.
Yes it does in a perverse way legitimize the currency.. i get it guys.
I said waaay back crypto coins will have made it when prostitutes on the street accept it or drug dealers.
And no not just dark market crap but actually people in person selling drugs on the street corner etc.
I have no problem with them using the currencies really.
If we want the mass population involved then i guess we will get criminal activity too.
Problem is i have told you all endlessly that i have talked to friends family and strangers on the street and ALL of them have bad things to say.. Bitcoin's reputation is horrible !
Many think it's dead and say ohhh that drugs and guns internet coin thingy is still going ?
So when Monero is started they had to overcome that stigma BTC created with Silk Road etc..
NOW the Monero idiots proudly brag about getting *minor Monero usage on Dark Markets.
I can't see this any way but bad (news).
So..
Why do i favor the legalization of crypto ? i said lots.. ADOPTION.
We will need the entire planets FIAT financial structure to integrate with crypto coins.
All of a sudden there is a problem !
Remember when i said laws were coming and you all mouthed me off and said.
- We don't need ties to FIAT.
- They can't stop us.
Remember all of you in the scene saying that over & over ?
Well.. Cryptsy started taking Picture ID then Poloniex and Coinbase.
Then they added US & CAN tax rules..
THEN i said "I told you so" as Ripple was Fined by FiNCEN and Localbitcoins users were arrested by the FBI in a Florida parking lot for going over the AML limits. (30k worth of BTC was sold in person)
I was right and i knew it !
And i am telling you guys you are in for a battle and if you want to fight then fine but that is not a good way to get mass adoption.
For one thing most of the world doing business can not integrate with crypto coins because if they violate their own countries financial laws then forget it.
Is the Royal bank of Canada going to integrate Monero transfers ?
Fucking hell no..
NEVER !Financial people were talked to in my town in the Newspaper 1 year ago when they did a story on Bitcoin.
(90% wanted nothing to do with it and 1 guy admitted he dabbled in it but would not tell his colleagues etc about it because it is deemed highly sketchy shit. (he did not want his name published)
Crypto crap is not something professionals talk about publicly.
It's not a giggle factor it's a sleazy sketchy pyramid scheme drugs & guns and RANSOMWARE factor.
I am one of the few people here feeding you all the truth.
I don't live in some fantasy world like some of you.
What is important here is the causalities are going to mount in this war.
Exchanges vanishing with money after getting legal pressure should be the norm.
Many of them are govt compliant as it is already so what are you defending ?
Cryptsy said they lied to users and made up excuses then locked peoples accounts and then handed their info etc off to the fed's.. so what you all do ?
You brag about Dark Market usage then hand Polo your ID and buy Monero "Anon" coins.
..good luck with that