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Cryptocurrency exchange network accused of helping Russia hit with sanctions. (www.voanews.com)

submitted 2 months ago by [email protected] to c/[email protected]

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[–] IrateAnteater 23 points 2 months ago (1 children)

I thought dodging state imposed transaction restrictions was kinda the whole point of cryptocurrencies (other than the pyramid scheme part).

[+] [email protected] -17 points 2 months ago (2 children)

Neither of those things are true. As the majority of crypto is used for above-board legal transactions, just like most fiat currency transactions are legal and above-board. As for the pyramid scheme, the biggest example of one that I can find right now is the US Dollar and its inflation.

[–] [email protected] 7 points 2 months ago (1 children)

Found the cryptobro. Neither of your statements are true. Crypto is absolutely a pyramid scheme, and if you took out the quick ability to convert to USD or other fiat currency, it would collapse.

[–] [email protected] -2 points 2 months ago

Not totally. monero is building a circular economy of people who price items in Monero, and buy/sell in Monero. Some of us desire to flip fiat the bird and do the best we can to live on Monero only. It works too. As an example i have bought groceries with monero for over a year and a half.

[–] [email protected] 4 points 2 months ago (1 children)

Citing numbers out of your ass?

[–] [email protected] -2 points 2 months ago (1 children)

Read it and weep.

"In addition to the reduction in absolute value of illicit activity, our estimate for the share of all crypto transaction volume associated with illicit activity also fell, to 0.34% from 0.42% in 2022."

https://www.chainalysis.com/blog/2024-crypto-crime-report-introduction/

[–] [email protected] 2 points 2 months ago

I’m weeping for your critical thinking

[–] [email protected] 3 points 2 months ago

Oh, this isn't about tRUmp's new crypto scam?