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RE: According to a recent report, less than 1% of all bitcoin transactions involve money laundering

in #bitcoin7 years ago

Yeah, it's a losing battle. You cannot prevent what happens in shadows and secrecy without bearing enormous expense, restricting the rights of your citizens, or both. It is a losing battle, and one that we would all likely be best served by allowing it to happen. Spend resources to protect honest citizens from being affected by that activity. Use resources to dictate where and when it happens. Limit its effect on those who don't participate, don't spend money trying to prevent it from happening.

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"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety."

Benjamin Franklin

Amazing how easily people dismiss that phrase as "outdated". rolls eyes.

And fuck KYC/AML. It just makes my life more difficult and stops maybe 0.5 criminals.