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by lazzlazzlazz 589 days ago
Crypto does have significant advantages (handling in large quantities and rapid payment, as you described) but it is meaningfully harder to launder since blockchains are public and forensics is straightforward. The DoJ and crypto forensics firms has posted about this at length.

You're just explaining why crypto is becoming increasingly popular for businesses in general: the tech works.
2 comments
hn_throwaway_99 589 days ago
1. Yes, everything is recorded on the block chain, but tumblers work. But yes, I agree it's hard to move large amounts of money on the blockchain since it's public.

2. "You're just explaining why crypto is becoming increasingly popular for businesses in general" Citation definitely needed. I used to see "pay with Bitcoin!" in a couple places online about 5-8 years ago. I never see it now, and hardly anyone I know, even big time "crypto people", actually use crypto to buy anything. Almost all the "uses" I hear are speculation or criminal uses. The only legitimate use I've actually seen is cross-border payments.

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JumpCrisscross 589 days ago
> it's hard to move large amounts of money on the blockchain since it's public

This was a $1mm ransom. The attraction of crypto isn't that it's easy to launder. It's that it's easy to steal. Beat a crypto bro on the head and you know you can effect a verifiable, irreversible transfer. Wiring money involves many more steps and has all kinds of reverse options.

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akimbostrawman 589 days ago
>blockchains are public and forensics is straightforward

only the bad ones. See XMR

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