Richard Murphy says:
December 4 2020 at 9:54 am
Crypto currency is fundamentally dangerous as it is utterly untraceableNo thank you
Crypto works on a public ledger. It’s all there, every transaction ever, in every wallet.
Crypto is anonymous but wholly, entirely and completely traceable.
Man, I know I shouldn’t be surprised after all the warnings, but he really is that ignorant…
So he never uses coins or notes then.
Not strictly true.
Bitcoin can be laundered as has been seen time and time again in cases of malware infection.
The scammer encrypts all your files then asks for payment in Bitcoin or Etherium to unlock.
The ultimate recipient can be very hard to trace if they route payment through multiple exchanges very quickly.
Ah, here’s an article that goes into a little detail about the ‘mixing’ exchanges.
https://www.zdnet.com/article/ohio-man-arrested-for-running-bitcoin-mixing-service-that-laundered-300-million/
Tim – Crypto can be on a distributed/public (eg Bitcoin) or centralised/private (eg Ripple) ledger.
“SadButMadLad
So he never uses coins or notes then.”
he’d like them banned as well.
his main observation regarding Bitcoin:
‘there’s a lot of apparent wealth here and it needs to be taxed’
A clearer vision of the man’s priorities hard to find. Pure Evil