Such risks as "being able to devalue one's currency" ?
A public ledger provides greater protection against money laundering and other criminal activities than a paper currency does.
A public ledger provides greater protection against money laundering and other criminal activities than a paper currency does.
A public ledger provides greater protection against
money laundering and other criminal activities than a
paper currency does
For example, laundering millions of dollars in cryptocurrencies was easily achieved though services such as ShapeShift which up until recently had no KYC/AML paper trail. If someone wants to launder millions of dollars in physical cash, they would need a business acting as a "front" which could be scrutinized to an audit.
The Bitcoin network allows anyone to move millions of
dollars across the world without any in-person
meetings, and without the approval of any financial institutions.
The Russians also created Bitcoins themselves through
the process known as mining, the indictment said.
I'd like to request a source on that. It was my understanding that ShapeShift limited trade sizes, so moving large amounts was difficult, impractical, slow, and exposed to a lot of market value risk.
https://old.reddit.com/r/CryptocoinMixing/
https://bitcointalk.org/index.php?topic=436467.0;all
https://darknetmarkets.org/a-simple-guide-to-safely-and-effe...
https://ethereum.stackexchange.com/questions/2699/is-there-a...
Vitalik Buterin himself has attempted a money laundering feature into the Ethereum Virtual Machine codebase: https://github.com/ethereum/serpent/blob/develop/examples/ec...
Another famous way to launder money as described in this post from a moderator on BitcoinTalk dated August 22, 2013, 02:32:31 AM [ https://bitcointalk.org/index.php?topic=279249.0 ] , is to give Bitcoin to a mining pool in return for renting their hashpower, in return for freshly minted coins:
My understanding still hasn't changed that "moving large amounts [with ShapeShift before AML/KYC] was difficult, impractical, slow, and exposed to a lot of market value risk," but I'm interested in evidence to the contrary.
Sealioning (also spelled sea-lioning and sea lioning) is
a type of trolling or harassment which consists of
pursuing people with persistent requests for evidence or
repeated questions, while maintaining a pretense of
civility so as to discredit their target
More obviously, the entire ecosystem is designed for money laundering. As evident the previous post, and any rudimentary search will turn up countless results on services or guides on using native wallet apps for Bitcoin or Monereo to mix and launder wallet addresses.