8 upvotes, 2 direct replies (showing 2)
drug dealers and launderers use it. and russians.
Bitcoin mining is a way for Russia to convert unsold oil and gas, coal into bitcoin cash
'The report reveals that at least 205,000 mining devices have been transported to the Russian Federation out of a total of over 430,000' ' 'Curb criminality. The anonymity of cryptocurrency transactions means that they appeal to criminals and bad actors. Cryptos are used to launder money, fund terrorism and fuel corruption3 — it’s been estimated that up to half of bitcoin transactions could support illegal activities4. Cryptocurrencies might be used to bypass financial sanctions, such as those currently imposed on Russia.' Crypto and digital currencies — nine research priorities 'We estimate that around $76 billion of illegal activity per year involve bitcoin (46% of bitcoin transactions), which is close to the scale of the U.S. and European markets for illegal drugs.' https://academic.oup.com/rfs/article-abstract/32/5/1798/5427781[1]
1: https://academic.oup.com/rfs/article-abstract/32/5/1798/5427781
Comment by [deleted] at 26/11/2024 at 02:08 UTC
2 upvotes, 0 direct replies
Try linking something that isn't way out of date. Nation states, pension funds and corporate treasuries all use it now. That is an old silk road study.
Comment by [deleted] at 24/11/2024 at 22:18 UTC
0 upvotes, 1 direct replies
You know what drug dealers and launders use the most? US dollars. Bitcoin is used for illegal activities at a much smaller % than US dollars because it is easy to track.