EDIT: Also profitable, taxes should be less then 90%. Just out of curiosity, isn't DeFi motivating users to defraud the IRS by promising 10% without reporting it as income?
EDIT: Come to think of it, if they are offering 10% without reporting to the IRS, which is obviously less than after taxes, would it be reasonable to assume all revenue / profits have not yet been reported to IRS as revenue?
Michael Morell, a former acting director of the CIA, has some things to say about the use of BTC in crime:
> Based on our research and discussions with industry experts, I have confidence in two conclusions: • The broad generalizations about the use of Bitcoin in illicit finance are significantly overstated. • The blockchain ledger on which Bitcoin transactions are recorded is an underutilized forensic tool that can be used more widely by law enforcement and the intelligence community to identify and disrupt illicit activities. Put simply, blockchain analysis is a highly effective crime fighting and intelligence gathering tool.
Source: https://casebitcoin.com/story/former-cia-director-finds-bitc...
Just because every one thinks they know how it works doesn't mean they know how it works, thats why I am questioning it. The truth is its pretty well known how tax evasion works but it doesn't use crypto.
Why even bother trying to make a mountain out of a molehill? You are building on a red herring.
Anyway thats a lot of idioms