this post was submitted on 21 Nov 2023
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[–] Uncle_Bagel@midwest.social 44 points 11 months ago (2 children)

Cryptocurrency is the number one vector for scams and money laundering today despite blockchains.

[–] Squizzy@lemmy.world -1 points 11 months ago

I'm not cryptobro but I hate that people give out about it's use in crimes... it's a currency, it being used in crimes is only evidence of it being used as a currency. All my drugs are bought with euros.

[–] 520@kbin.social -4 points 11 months ago

That's because transactions can't be rolled back, opening accounts doesn't require identifying info, and there's no possibility of payments being intercepted by a third party.

Sure, fiat can be safer when your bank is being responsible. It can be much more dangerous when they aren't. Just ask a victim of Wells Fargo.