10-17-2021, 09:07 PM
The US dollar is used 10 times more for crime than crypto by percentage of total tra
<!-- SC_OFF --><div class="md"><p>Again and again I have heard the same argument that crypto is amazing for criminals because it’s anonymous.</p> <p>In reality, crypto is pseudonymous. There is potential for every address to have its owner identified through the centralized exchanges that allow us to exchange fiat for crypto. (Unless you use monero, it’s truly private)</p> <p>Every transaction is visible to everyone, so it’s impossible to hide criminal activity. People who truly understand crypto know that you would have to be stupid to use it for crime.</p> <p>This is backed up by the data, which shows that 0.35% of crypto activity is related to crime, whereas 2-5% of the US GDP is linked to crime. This is 6x larger than crypto at its lowest, and 15x larger at its highest.</p> <p>The “crypto is used for crime” narrative that many politicians like to use is a complete lie. The US dollar is used much more, and is a much better tool for any criminal than crypto.</p> <p><a href="https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/amp/">Source</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/roberthonker"> /u/roberthonker </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qa555x/the_us_dollar_is_used_10_times_more_for_crime/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qa555x/the_us_dollar_is_used_10_times_more_for_crime/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Again and again I have heard the same argument that crypto is amazing for criminals because it’s anonymous.</p> <p>In reality, crypto is pseudonymous. There is potential for every address to have its owner identified through the centralized exchanges that allow us to exchange fiat for crypto. (Unless you use monero, it’s truly private)</p> <p>Every transaction is visible to everyone, so it’s impossible to hide criminal activity. People who truly understand crypto know that you would have to be stupid to use it for crime.</p> <p>This is backed up by the data, which shows that 0.35% of crypto activity is related to crime, whereas 2-5% of the US GDP is linked to crime. This is 6x larger than crypto at its lowest, and 15x larger at its highest.</p> <p>The “crypto is used for crime” narrative that many politicians like to use is a complete lie. The US dollar is used much more, and is a much better tool for any criminal than crypto.</p> <p><a href="https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/amp/">Source</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/roberthonker"> /u/roberthonker </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qa555x/the_us_dollar_is_used_10_times_more_for_crime/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qa555x/the_us_dollar_is_used_10_times_more_for_crime/">[comments]</a></span>Kind Regards R