this post was submitted on 13 Nov 2024
208 points (90.3% liked)
Technology
59612 readers
3414 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Isn't USD also linked to many of those? Gangs launder physical cash through businesses, ransomware can ask for credit cards or bank accounts, terrorists may take USD as it can be spent nearly anywhere.
Oh yes, these kinds of organizations love cash because it's a bearer asset.
The difference is that 100% of crypto-currency transactions are stuff like that and only a small percentage of USD transactions.
Do you have a source for that? I've seen local businesses like pizza shops and such accept btc.
Edit: the majority of crypto transactions are likely between exchanges, miners, and exchange customers. An example is the Blackrock BTC ETF buys and sells btc off an exchange in realtime in relation to the ETF purchases. I'm not saying no crime happens on the btc network but to claim 100% of transactions are crime based is just false.
And by "pizza shops" you mean that one pizza shop that tried it back before BTC got really expensive?
I'm pretty sure they just charge the local currency equivalent in BTC at the time of purchase.