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by ajkdhcb2
2189 days ago
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Customers don't want to put themselves at risk either. Most illegal activity is rapidly switching to monero as people learn that Bitcoin is easily traceable unless people take confusing and expensive countermeasures. It's not difficult to swap between different cryptocurrencies and there are major exchanges in almost all countries to directly get monero anyway |
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With cash, that money can change hands hundreds of times without it ever being tracked by anyone.
The only way a digital currency can ever be safely used for illegal activities if if it can be used and acquired as freely, easily and as anonymously as cash.
From what i've seen there's no digital equivalent to 'handing someone a suitcase full of cash in a dark alley' or receiving your 'cheque' at the end of the day as a wad of cash in an envelope.
With that cash, I can immediately turn around and spend it on some illegal shit and no record any where will ever exist of me being paid or having purchased illegal things. I can then go and spend that money just as easily in a store, where again, no records of where that money came from exists. It'll just appear(or reappear most likely) in circulation magically when the store records it as profit.
Creating a digital currency like this that actually functions as a currency seems unfeasible. Cash only works as it does because everybody just kind of agrees it does or because the government says it does I suppose.
As an addendum and disclaimer, I wrote a lot of this from a first person point of view, that was for dramatic descriptive purposes only and not from any actual personal perspective or activities.