Post
Topic
Board Press
Re: [2018-07-10] Joseph Stiglitz says BTC could drop to 100$
by
figmentofmyass
on 11/07/2018, 20:47:40 UTC
“You cannot have a means of payment that is based on secrecy when you’re trying to create a transparent banking system. If you open up a hole like bitcoin then all the nefarious activity will go through that hole, and no government can allow that.”

the irony here is incredible. the banking system is built for laundering money. the world's biggest banks (hsbc for starters) have been tied to massive laundering efforts in service of drug cartels and terrorist organizations.

why would you use a transparent, permanent ledger (and a relatively illiquid market) for large scale illegal activity? you're better off creating a web of shell companies with puppet directors and using the legacy banking system.