The US dollar is used 10x more for crime than crypto as a proportion of total transactions. The narrative that crypto is used by criminals is false.
Again and again I have heard the same argument that crypto is great for criminals because it’s anonymous blah blah blah…
In reality crypto is pseudonymous, unless you are using something like monero. There is potential for every address to have its owner identified through the centralized exchanges that allow us to exchange fiat for crypto.
Every transaction is also visible to everyone, so it’s impossible to hide anything. People who truly understand crypto know that it is a horrible device for criminals.
This is backed up by the data, which shows that 0.34% of crypto activity is related to crime, whereas with the US 2-5% of the GDP is linked to crime. This is 6x larger at its lowest, and 15x larger at its highest.
The narrative that crypto is used by criminals is a complete lie. The US dollar is used much more, and is a much better tool for a criminal than crypto.
submitted by /u/roberthonker
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