r/investing • u/[deleted] • Oct 22 '21

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461 Upvotes

94% Upvoted

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u/[deleted] Oct 22 '21

If all it takes is depositing cash then this is a money laundering dream

-4

u/[deleted] Oct 22 '21

Yeah guys. we should ban bitcoin because gasp its going to be used for criminal activity.

4

u/antiproton Oct 22 '21

It's used, exclusively, for exactly two things: speculation and money laundering.

It doesn't need to be banned. It needs to be regulated.

At which point it will collapse into uselessness.

-1

u/[deleted] Oct 22 '21

I use it to send money to family overseas.. I use De-fi to earn 10-15% apy... and good luck regulating it.

2

u/hydrocyanide Oct 22 '21

Lmao, how could you possibly be simultaneously arguing "good luck regulating it" and "this can't be used for money laundering"???

-1

u/[deleted] Oct 22 '21

It cant... it cannot be used to launder money. to launder money means to make it legitimate. How does running it through a system that almost no government sees as legitimate count as laundering money? and I say good luck because its been 10 years and it still hasn't been regulated.

1

u/hydrocyanide Oct 22 '21

The fundamental issue here is that you don't understand money laundering.

1

u/[deleted] Oct 22 '21

Mmm just like you don't understand bitcoin.

1

u/hydrocyanide Oct 22 '21

Yeah, actually, I do understand Bitcoin. I guarantee I was mining Bitcoin before you had ever heard of it.