What a week, first Donald Trump went after Bitcoin & crypto, and yesterday Bitcoin was acknowledged as a store of value by FED’s chairman Jerome Powell.
So of course, the same old arguments are used by Bitcoin’s detractors: It is for money laundering, illegal activities use bitcoins to remain untraceable, blablah. But if I’m not wrong, those activities started way before bitcoin was created right?
Indeed, it’s true that crypto could be used to remain anonymous and do money laundering, tax evasion … wait isn’t it already the case with old dollar’s bills?
Panama’s papers presented tax evasion abuses in 2016 from a range of rich people around the world. I didn’t find a verified number, but it’s billions of dollars. People didn’t wait for BTC to start doing it. They played this game because of their “relations.” . It’s maybe time to become more consistent right?
Money laundering was estimated at $1600bn worldwide in 2009 according to UNODC. Maybe old friend Pablo used Bitcoin back in the days? I’m kind a new in the crypto world, and I may lack some knowledge in economical fields, but what I see is people started worrying because they will not control what they use to do for their benefits.
Trump also write about Libra, and I not totally disagree with what he said. Yes, big companies also need to be regulated if they want to issue their own digital currency. And yes, Libra could be highly scalable with the community of Facebook, as said J.Powell.
I recently listened to a podcast, What Grinds My Gears by Meltem Demirors and Jill Carlson. I highly recommend you listen to it. Their PoV is really interesting and backed with historical, cultural and economic facts.
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Man, those old Pablo Escobar bitcoins are probably worth a mint! Vintage stuff right there. I heard he didn't like 'em much, though, because he couldn't burn 'em for heat.
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Humans are fickle.. each day is a new outrage... Merica fuck yeah
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