02-27-2022, 12:36 AM
Cash transactions in person are 100% decentralized, and are not on a public ledger.
<!-- SC_OFF --><div class="md"><p>Read all of it because it makes one good point here that everyone should realize. </p> <p>You can track Bitcoin on a public ledger. That's why when someone who got a few million stolen from them can call the FBI, and they track the wallet waiting for a transaction to pop up, and when it does...the person gets nailed. </p> <p>You can't call the FBI, tell them 2M in cash was stolen from your safe, and have them wait for the criminal to spend some of it so they know his location. </p> <p>Only dumb criminals get caught...like when someone is paying $25,000,000 all cash for new condo complex in Hawaii. That's when someone gets suspicious and calls the FBI. That's pretty much the only time they can catch you in cash transaction....when someone calls them on you. </p> <p>With a Bitcoin transaction, the probability of you being caught after stealing a wallet they are now keeping track of actually goes up. Yeah, there's ways to unload it into different cryptos using an encrypted throwaway mobile that's not connected to you or anyone you know but it's actually a tedious process if you don't want to get caught. Using "stolen cash" or using cash from illegal earnings is much much easier than using a stolen BTC wallet. </p> <p>You use just $10 in Bitcoin from that wallet, and you can get nailed. If you use a couple of $100 cash at a random store.. nobody is calling the FBI on you. Because it's a normal everyday transaction. </p> <p>So you can have 2M in stolen cash and just sit on that for life using little by little, doing lightweight money laundering that doesn't look too suspicious and nobody will suspect anything. You can't sit on a stolen BTC wallet for life and use it little by little without jumping through fire hoops or paranoid about being caught everytime you use it. </p> <p>That's the point I'm trying to make. They are lying to everyone about how dangerous BTC usage is.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Some1fromReddit"> /u/Some1fromReddit </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/t27wfy/cash_transactions_in_person_are_100_decentralized/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/t27wfy/cash_transactions_in_person_are_100_decentralized/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Read all of it because it makes one good point here that everyone should realize. </p> <p>You can track Bitcoin on a public ledger. That's why when someone who got a few million stolen from them can call the FBI, and they track the wallet waiting for a transaction to pop up, and when it does...the person gets nailed. </p> <p>You can't call the FBI, tell them 2M in cash was stolen from your safe, and have them wait for the criminal to spend some of it so they know his location. </p> <p>Only dumb criminals get caught...like when someone is paying $25,000,000 all cash for new condo complex in Hawaii. That's when someone gets suspicious and calls the FBI. That's pretty much the only time they can catch you in cash transaction....when someone calls them on you. </p> <p>With a Bitcoin transaction, the probability of you being caught after stealing a wallet they are now keeping track of actually goes up. Yeah, there's ways to unload it into different cryptos using an encrypted throwaway mobile that's not connected to you or anyone you know but it's actually a tedious process if you don't want to get caught. Using "stolen cash" or using cash from illegal earnings is much much easier than using a stolen BTC wallet. </p> <p>You use just $10 in Bitcoin from that wallet, and you can get nailed. If you use a couple of $100 cash at a random store.. nobody is calling the FBI on you. Because it's a normal everyday transaction. </p> <p>So you can have 2M in stolen cash and just sit on that for life using little by little, doing lightweight money laundering that doesn't look too suspicious and nobody will suspect anything. You can't sit on a stolen BTC wallet for life and use it little by little without jumping through fire hoops or paranoid about being caught everytime you use it. </p> <p>That's the point I'm trying to make. They are lying to everyone about how dangerous BTC usage is.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Some1fromReddit"> /u/Some1fromReddit </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/t27wfy/cash_transactions_in_person_are_100_decentralized/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/t27wfy/cash_transactions_in_person_are_100_decentralized/">[comments]</a></span>Kind Regards R