Not all educated are educated.

[komisariatku]

Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.

Yes, it's true, in the fiat system there are more money laundering activities, but they scapegoat Bitcoin for illegal actions. But I have a prediction that the fiat money system will sooner or later collapse and a new financial system will be born, and I think that system will be blockchain. I'm not sure they will adopt bitcoin but they will use a blockchain system like bitcoin.

The government always demands KYC, that's why they banned mixers. Because when they can't track someone's wealth then they can't collect taxes

[philipma1957]

Why?

This:

Bitcoin services platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks.

And this:

Pritzker stated that the current political climate has put a lot of fear into the banking sector, with most banks simply refusing to do business with anything in crypto. Thus, for them to continue their Bitcoin on-ramp services, their custody partner has to interact with banking services governed by FinCEN regulations.

Especially, I do not expect people can be complaining about bitcoin and cryptocurrencies in general that they are causing global warming.

Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.

So the banks are not stupid they are looking out to protect their own interest's. I would not call them uneducated. I would call them stubborn mean and wealthy people that want to control us.

[Nrcewker]

It is their will to criticise Bitcoins. For them Bitcoins are like illegal assets which are used by terrorists or bad people for bad purpose. But they are forgetting that, the asset is not illegal, but the mindset of these people are. If terrorist and bad people want to do bad things, then they can use any source of medium for it. Regarding global warming, it’s just baseless to tell that Bitcoin minings are causing this. They need to grow up.

[Negotiation]

Yes there are many companies that use KYC for the security of bitcoins. Bitcoin is decentralized there is no government control the government does not validate bitcoin as it cannot be used as it wishes. Everyone invests in Bitcoin independently because fiat money is not tied to any physical commodity so it risks losing value especially during hyperinflation. If the people of a particular nation lose faith in the currency the money will become useless. Fiat money is a currency issued by a government it has no value of its own but derives its value from government regulation it is easy to commit crimes by fiat currency.

[Agbamoni]

Being educated means understanding and making use of the information we encounter daily, applying what we learn to our own lives. I am not surprised that people jump into conclusions that has no validation.

Learning is everywhere. Everything we do, observe, and hear teaches us something, one way or another. So it's left for us to say what will think is right.

[freedomgo]

When we use a banking service, we have to comply with their rules, and I understand why they don't want our account to be associated with mixers because it will be hard for them to trace transactions. To ease their job, they require that all transactions we go through have a clear identity, either a person or a business.

This is quite simple to understand: if we use mixers, let's not use banks, as these two are in conflict. Banks promote transparency, and they advertise that they keep our privacy within their systems and with regulators. So, if we don't trust them on that, we can always go fully crypto with the help of mixers to achieve anonymity, although it's not guaranteed.

[moneystery]

bitcoin is like a competitor to banking, they don't want the ecosystem to develop further than that, so in various ways they use it to attack bitcoin which has been decentralized and intervention-free. but it is unfortunate that the more they suppress bitcoin, the bigger bitcoin will be in the future.

how many years have they been playing this kind of narrative? and what are the results? nothing, even bitcoin is still growing and is predicted to make a new ath. so it's pointless to play out a narrative like this because people are getting smarter and they no longer want to be dictated to in their freedom to use bitcoin.

[fuguebtc]

Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.

Yes, it's true, in the fiat system there are more money laundering activities, but they scapegoat Bitcoin for illegal actions. But I have a prediction that the fiat money system will sooner or later collapse and a new financial system will be born, and I think that system will be blockchain. I'm not sure they will adopt bitcoin but they will use a blockchain system like bitcoin.

The government always demands KYC, that's why they banned mixers. Because when they can't track someone's wealth then they can't collect taxes

Bitcoin has only been around for 14 years, while crime, money laundering and smuggling have existed for hundreds of years. The government just wants to get rid of bitcoin, but it's so perfect that they have no other reason to disparage it, other than to associate it with anything they can think of.

The old monetary system will soon be replaced by a new monetary system, that is almost certain. But whether they adopt blockchain or any other technology, they will still be centralized and the government will still be in control . So whether the monetary system collapses or not, centralization still exists.

[Dunamisx]

Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.

Yes, it's true, in the fiat system there are more money laundering activities, but they scapegoat Bitcoin for illegal actions. But I have a prediction that the fiat money system will sooner or later collapse and a new financial system will be born, and I think that system will be blockchain. I'm not sure they will adopt bitcoin but they will use a blockchain system like bitcoin.

The government always demands KYC, that's why they banned mixers. Because when they can't track someone's wealth then they can't collect taxes

Let the fover keep pretending to us that fiat is not an illegal means of money laundering when they were all there causing the loots around, but with bitcoin p2p network, they cannot soy to know about anyone's financial stand, so they will assume that mixers that provides for more anonymity is their enemy as well because they cannot know the financial worth of every users, that is why they are dealing heavily with some of these mixers neglecting the banks which are worst.

[komisariatku]

Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.

Yes, it's true, in the fiat system there are more money laundering activities, but they scapegoat Bitcoin for illegal actions. But I have a prediction that the fiat money system will sooner or later collapse and a new financial system will be born, and I think that system will be blockchain. I'm not sure they will adopt bitcoin but they will use a blockchain system like bitcoin.

The government always demands KYC, that's why they banned mixers. Because when they can't track someone's wealth then they can't collect taxes

Bitcoin has only been around for 14 years, while crime, money laundering and smuggling have existed for hundreds of years. The government just wants to get rid of bitcoin, but it's so perfect that they have no other reason to disparage it, other than to associate it with anything they can think of.

The old monetary system will soon be replaced by a new monetary system, that is almost certain. But whether they adopt blockchain or any other technology, they will still be centralized and the government will still be in control . So whether the monetary system collapses or not, centralization still exists.

Yes, the only thing that can be used to slander Bitcoin is to accuse Bitcoin of being often used as a money laundering tool because of Bitcoin's anonymous nature.

In a country's finances, decentralization is dangerous because the government cannot control the finances circulating in society. The government needs to exercise financial control to maintain financial stability, prices of goods and the circulation of money in society. Too much money will make the price of goods rise, too little money will reduce purchasing power. Usually the country will issue policies by increasing interest rates or lowering interest rates to regulate money circulation.

A country's financial and economic system is very complicated, I also want the concept of decentralization but on the one hand it can be dangerous because there is no financial control, choosing the wrong policy can have fatal consequences.

[NeilLostBitCoin]

Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.

Bitcoin often faces criticism from people who hold positions where they have to scrutinize it. They try to find flaws with Bitcoin in order to discredit it in public opinion, or even within their own country. They are afraid of Bitcoin precisely because it is difficult to trace, unlike money in banks.

I believe that both of you have valid points. This is why countries are trying to shed light on Bitcoin in order to reduce illegal transactions and have the ability to track such activities in fiat. It will be difficult for them to successfully illuminate or ban Bitcoin. Good luck to them!

[Jchris50]

Why?

This:

Bitcoin services platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks.

And this:

Pritzker stated that the current political climate has put a lot of fear into the banking sector, with most banks simply refusing to do business with anything in crypto. Thus, for them to continue their Bitcoin on-ramp services, their custody partner has to interact with banking services governed by FinCEN regulations.

Especially, I do not expect people can be complaining about bitcoin and cryptocurrencies in general that they are causing global warming.

You are right
Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.

[Faisal2202]

These companies will continue to bend the knee to regulatory pressures, otherwise they won’t be permitted to do business in said countries. Don’t be surprised at anything they comply with after being told so by their masters.

You are right, companies have to comply with the government; otherwise, they will be forced to move out, just like the USA did with Binance, while Coinbase and Binance were sued by the SEC for the same case of illegal trading of securities, which was not considered a security by the SEC, so they sued both. I covered the reasons why this issue arose, but the thing is, they allowed Coinbase to continue providing their services while forcing Binance to move out.

The reason was the the same, Binance was not following the instructions of the masters, or maybe they might not be accepting them as masters, and they really did well. Although the the banking sector has been used for ML for a long time, they are just after BTC or mixers because they know their control over people's money is less than before, so they are going against it. You should check out the Patriot Act by FinCen, it will give you some idea of of what FinCen has on their minds.

[CryptoHeadlineNews]

Why?

This:

Bitcoin services platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks.

And if I may ask, so how do these people intend to make this successful? How do they intend to know accounts that have been engage in Bitcoin mixing? Or do they intend to track the source of every Bitcoin been deposited on the exchange to know if it has been mixed or not, and then terminate those accounts, or how exactly. Because this actually prove to be of the reason why keeping funds on centralized exchange one of the worst decision anyone can ever make, as your right to total control and ownership of that coin has already been taken away from you from the very first day you deposited your coin on a third party exchange. Hence, non-custodian wallet remains the best.

[Twentyonepaylots]

Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.

Yes, it's true, in the fiat system there are more money laundering activities, but they scapegoat Bitcoin for illegal actions. But I have a prediction that the fiat money system will sooner or later collapse and a new financial system will be born, and I think that system will be blockchain. I'm not sure they will adopt bitcoin but they will use a blockchain system like bitcoin.

Because fiat is traceable enough with its serial numbers, so upon investigation it can be easily track if it was used in money laundering, so they are using bitcoin to avoid getting caught because it is decentralized and there are many tools like mixers to delete its footprint across the blockchain though it is not permanently deleted, but vague tracks are enough to evade naked eyes.

The government always demands KYC, that's why they banned mixers. Because when they can't track someone's wealth then they can't collect taxes

I mean it is understandable for the government to initiate centralization because it would be chaos if they would not. Imposing taxes is not even bad at all, it comes bad when they spend it to useless stuff.

[Z-tight]

Yes there are many companies that use KYC for the security of bitcoins.

Kyc is not a means of securing BTC's, centralized exchanges request for kyc so they would be able to give your data to LE should they request for it. Centralized exchanges sometimes don't even properly protect customers' kyc information, and their database has been hacked in the past, with people's information exposed and sold in the black market; and this can happen again.

Yes, the only thing that can be used to slander Bitcoin is to accuse Bitcoin of being often used as a money laundering tool because of Bitcoin's anonymous nature.

BTC isn't anonymous, you can see all tx's in the blockchain, BTC is pseudonymous and because of its transparency it is not such a great tool to be used for money laundering, except for people who know what they are doing. Payment options like cash is more popular for money laundering.

[dezoel]

Everything is clear and I know everyone knows that the government is focusing more and more on opposing Bitcoin. Before the invention of Bitcoin there was fiat currency and illegal activities were also done at that time, criminal and funding to them are done in fiat currency but the government blamed Bitcoin for all this. There were may be some illegal activities done in the past and was very minor but the government do not make it a base that is fully involved in illegal activities. The biggest fear of the government is that people are going out of their control because due to bank and fiat currency, they bound people but thanks to Satoshi he made independence from this system and now the government is trying to make Bitcoin centralized or make it notorious so that people will leave it.

They are only regulating it and at the same time allow crypto. We are going to be just fine as long as we can follow the simple rule that they impose. For me it's better than if we compare it before where they are totally against with it. Not that I'm defending them but no, they don't put all the blame to BTC. They know there are also other cryptos and criminals also use them.

It's just that BTC has a special feature which can favor more the criminals. That doesn't mean that most BTC users are also a criminal. BTC had still done something better, and even the governments can also recognize and thank BTC for it. There is no way that the governments can fully turn BTC into a centralized coin but if let say it's possible, there are still people who will use it.

[Altryist]

When we use a banking service, we have to comply with their rules, and I understand why they don't want our account to be associated with mixers because it will be hard for them to trace transactions. To ease their job, they require that all transactions we go through have a clear identity, either a person or a business.

This is quite simple to understand: if we use mixers, let's not use banks, as these two are in conflict. Banks promote transparency, and they advertise that they keep our privacy within their systems and with regulators. So, if we don't trust them on that, we can always go fully crypto with the help of mixers to achieve anonymity, although it's not guaranteed.

According to the logic of regulators, if you use mixers, then you have something to hide, but these may just be arguments to show Bitcoin from the bad side. I don’t see anything wrong with using mixers if I want to take care of my anonymity and this doesn’t mean that I’m trying to hide something, it’s just convenient for me. Anything that the government cannot control will be made out to be illegal, I can see that they would like to ban all mixers and would be happy with that.

[fuguebtc]

Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.

Yes, it's true, in the fiat system there are more money laundering activities, but they scapegoat Bitcoin for illegal actions. But I have a prediction that the fiat money system will sooner or later collapse and a new financial system will be born, and I think that system will be blockchain. I'm not sure they will adopt bitcoin but they will use a blockchain system like bitcoin.

The government always demands KYC, that's why they banned mixers. Because when they can't track someone's wealth then they can't collect taxes

Bitcoin has only been around for 14 years, while crime, money laundering and smuggling have existed for hundreds of years. The government just wants to get rid of bitcoin, but it's so perfect that they have no other reason to disparage it, other than to associate it with anything they can think of.

The old monetary system will soon be replaced by a new monetary system, that is almost certain. But whether they adopt blockchain or any other technology, they will still be centralized and the government will still be in control . So whether the monetary system collapses or not, centralization still exists.

Yes, the only thing that can be used to slander Bitcoin is to accuse Bitcoin of being often used as a money laundering tool because of Bitcoin's anonymous nature.

In a country's finances, decentralization is dangerous because the government cannot control the finances circulating in society. The government needs to exercise financial control to maintain financial stability, prices of goods and the circulation of money in society. Too much money will make the price of goods rise, too little money will reduce purchasing power. Usually the country will issue policies by increasing interest rates or lowering interest rates to regulate money circulation.

A country's financial and economic system is very complicated, I also want the concept of decentralization but on the one hand it can be dangerous because there is no financial control, choosing the wrong policy can have fatal consequences.

But even if they slander and defame it, they cannot stop the development of bitcoin , cannot stop people from using it. So I believe it's just a matter of time before they accept it . I remember many years ago, most countries were hostile towards bitcoin , but in recent years,many countries are gradually becoming friendly and accepting bitcoin to a certain extent. In the near future , it is inevitable that the whole world will accept and legalize bitcoin.

I don't expect governments to be able to use bitcoin to replace the current monetary system , but I do think that bitcoin and currency will be able to exist side by side, and bitcoin is an alternative.

[redsun114]

Simply put, banks and fiat are part of the system and bitcoin was invented against the system. Now they are trying to control it as much as possible with more laws, more KYC, demonising mixers and trying to impose blacklists, and if they succeed bitcoin will become part of the system. It's like the ETF spots that everyone is waiting for the price to go up: what they are going to do is make bitcoin even more part of the system.

They can't make Bitcoin a part of the system even if they close down all the mixers and everything they say allows criminals to do their activities without getting traced, etc. What they are trying to do is to scare people away by showing that Bitcoin is not something good and it's used by criminals and those who use it might get caught for criminal activities which is not true but a lot of people would believe what they are trying to show them.

The system and the governments and their regulatory bodies will do everything possible to push Bitcoin away from their countries and people because they know it's decentralized and it gives them complete freedom for storing and using their wealth without them, the authorities, having any control over that.