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by cowtools 1406 days ago
money-laundering is obviously a consequence of any technology that enhances the privacy of financial transctions.

You might as well say that any technology should be thrown out if somewhere, somehow, hypothetical bad guys could use it.

Build a better hammer that is great at hitting nails, but can't be used to bash someone's skull in.

1 comments

No, money laundering is a consequence of any technology that tries to remove trusted 3rd parties from finance while not completely giving up on privacy the way Bitcoin does, which is an absurd goal in and of itself.

You can have excellent privacy while not permitting money laundering if you have good, trustworthy banks that properly enforce AML while not cooperating with law enforcement unnecessarily.