One of the advantages of blockchain is that we can roughly calculate how much money went into scams involving cryptocurrencies, because everything is on the public blockchain. Can the same be said for taxe evasion, bribery, corruption, drug trafficking, and other stuff that don’t involve crypto?
"Law regulators" around the world together with their governments keep trying to make crypto weaker or to ban it from their country forever.
They say it is used for scams, drug trafficking etc. Because nature of crypto is dezentralization, they are probably right.
But, they are pointing it too much, too often for sums that are small if you compare them to the corruption, money laundering, drug trafficking etc. involving traditional currencies.
Why are they doing that? As we all know, because everything is public, so they have resources.
I keep thinking, what would we see around the world if governments way of work, every transaction is public? I think that we will be really surprised, and quite shocked.
I guess I will never find out, because it is not public. For that reason they can trash crypto, keep talking bad about crypto, but that exact technology provided them with sources where they can track every penny on it, forever.
Remember Panama Papers? How much crypto was in there, and how much traditional currencies, banking etc?
What about credit cards? It is estimated that only credit cards theft and scams will surpass $10 billion till 2024.
What about illegal gamglinb, trade based money laundering? How much money went into that, can we even calculate? Or just assume and hope for the best.
submitted by /u/middlemangv
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