When we use a banking service, we have to comply with their rules, and I understand why they don't want our account to be associated with mixers because it will be hard for them to trace transactions. To ease their job, they require that all transactions we go through have a clear identity, either a person or a business.
This is quite simple to understand: if we use mixers, let's not use banks, as these two are in conflict. Banks promote transparency, and they advertise that they keep our privacy within their systems and with regulators. So, if we don't trust them on that, we can always go fully crypto with the help of mixers to achieve anonymity, although it's not guaranteed.
Topic: Not all educated are educated. - page 3. (Read 598 times)
Being educated means understanding and making use of the information we encounter daily, applying what we learn to our own lives. I am not surprised that people jump into conclusions that has no validation.
Learning is everywhere. Everything we do, observe, and hear teaches us something, one way or another. So it's left for us to say what will think is right.
Learning is everywhere. Everything we do, observe, and hear teaches us something, one way or another. So it's left for us to say what will think is right.
Yes there are many companies that use KYC for the security of bitcoins. Bitcoin is decentralized there is no government control the government does not validate bitcoin as it cannot be used as it wishes. Everyone invests in Bitcoin independently because fiat money is not tied to any physical commodity so it risks losing value especially during hyperinflation. If the people of a particular nation lose faith in the currency the money will become useless. Fiat money is a currency issued by a government it has no value of its own but derives its value from government regulation it is easy to commit crimes by fiat currency.
It is their will to criticise Bitcoins. For them Bitcoins are like illegal assets which are used by terrorists or bad people for bad purpose. But they are forgetting that, the asset is not illegal, but the mindset of these people are. If terrorist and bad people want to do bad things, then they can use any source of medium for it. Regarding global warming, it’s just baseless to tell that Bitcoin minings are causing this. They need to grow up.
Why?
This:
And this:
Especially, I do not expect people can be complaining about bitcoin and cryptocurrencies in general that they are causing global warming.
Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.
This:
Quote from: https://cointelegraph.com/news/swan-bitcoin-terminates-customer-accounts-crypto-mixing-services
Bitcoin services platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks.
And this:
Quote from: https://cointelegraph.com/news/swan-bitcoin-terminates-customer-accounts-crypto-mixing-services
Pritzker stated that the current political climate has put a lot of fear into the banking sector, with most banks simply refusing to do business with anything in crypto. Thus, for them to continue their Bitcoin on-ramp services, their custody partner has to interact with banking services governed by FinCEN regulations.
Especially, I do not expect people can be complaining about bitcoin and cryptocurrencies in general that they are causing global warming.
Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.
So the banks are not stupid they are looking out to protect their own interest's. I would not call them uneducated. I would call them stubborn mean and wealthy people that want to control us.
Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.
Yes, it's true, in the fiat system there are more money laundering activities, but they scapegoat Bitcoin for illegal actions. But I have a prediction that the fiat money system will sooner or later collapse and a new financial system will be born, and I think that system will be blockchain. I'm not sure they will adopt bitcoin but they will use a blockchain system like bitcoin.
The government always demands KYC, that's why they banned mixers. Because when they can't track someone's wealth then they can't collect taxes
Simply put, banks and fiat are part of the system and bitcoin was invented against the system. Now they are trying to control it as much as possible with more laws, more KYC, demonising mixers and trying to impose blacklists, and if they succeed bitcoin will become part of the system. It's like the ETF spots that everyone is waiting for the price to go up: what they are going to do is make bitcoin even more part of the system.
Yes the used and request of KYC is on the rise as bitcoin came to and existence. When the authorities could not have access to the blockchain to control people they sort out to another means which the KYC. And really if bitcoin is adopted every country in the world fiat Currency will be collapsed like cowries. Cowries was the first coin that was used everywhere in the world but it over come by fiat Currencies. And since they could not catch any bitcoiner because of the decentralized nature of the invention, they are sorting out to disturb firms and organizations that using bitcoin to affect the bitcoiners that are using bitcoin. Simply put, banks and fiat are part of the system and bitcoin was invented against the system. Now they are trying to control it as much as possible with more laws, more KYC, demonising mixers and trying to impose blacklists, and if they succeed bitcoin will become part of the system. It's like the ETF spots that everyone is waiting for the price to go up: what they are going to do is make bitcoin even more part of the system.
I hope they will fail to do that because if they succeed, then the whole Satoshi's ambition will become wasted and will not help anyone to have their own financial privacy anymore. Just because they cannot control the transactions and get some tax from it, they are making some way to trap everyone with their newly imposed laws to the centralized exchanges and also to punish the owners of those exchanges if they are not compiling to the rules. That's why, many have recommended getting back to the old ways where people use decentralized exchanges in order to get away from what the governments and the banks are planning.
Why?
This:
And this:
Especially, I do not expect people can be complaining about bitcoin and cryptocurrencies in general that they are causing global warming.
Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.
The existence of bitcoin has always been a threat to the government and some other financial organizations. They have tried to eliminate it long time ago but all to no avail simply because its a decentralized system of exchange which is non profitable to the government, that made them to find means to eradicate it. If not for hate, how on Earth would someone make such a speech.that dey would terminate account transacting with crypto mixing and also talking about global warming. Truly sometime negative inpact can make and educated person becomes uneducated. This:
Quote from: https://cointelegraph.com/news/swan-bitcoin-terminates-customer-accounts-crypto-mixing-services
Bitcoin services platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks.
And this:
Quote from: https://cointelegraph.com/news/swan-bitcoin-terminates-customer-accounts-crypto-mixing-services
Pritzker stated that the current political climate has put a lot of fear into the banking sector, with most banks simply refusing to do business with anything in crypto. Thus, for them to continue their Bitcoin on-ramp services, their custody partner has to interact with banking services governed by FinCEN regulations.
Especially, I do not expect people can be complaining about bitcoin and cryptocurrencies in general that they are causing global warming.
Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.
Bitcoin is a currency, and a currency should not be restricted because it's used for criminal purposes. I completely agree with op that fiat currencies remain widely used for financing terrorism and for other crimes, and so is the banking system. With all its alleged traceability and regulations, banks are actively used for illegal activities.
The global warming and Bitcoin mining topic is a bit more tricky to me because mining does have a negative impact, but it's discussed disproportionately and a lot of research is simply lacking.
As for crypto mixers, it's unclear how much they are used for illegal purposes, but the whole idea makes them very useful specifically for money laundering, so perhaps restricting the usage of such services is justified.
The global warming and Bitcoin mining topic is a bit more tricky to me because mining does have a negative impact, but it's discussed disproportionately and a lot of research is simply lacking.
As for crypto mixers, it's unclear how much they are used for illegal purposes, but the whole idea makes them very useful specifically for money laundering, so perhaps restricting the usage of such services is justified.
Lol, what haven’t we heard? They’ve called it a scam just to shut it up, they’ve said it’s used for money laundering and many other illegal activities. I one time saw a thread on this forum that spoke about how people see Bitcoin as negative because someone was kidnapped and the ransom was required in Bitcoin (probably so it can’t be traced? Idc). Bitcoin is only but a currency the difference is the respect of privacy, but they want to shoot it down with so many excuses.
I know right, Bitcoin is just a tool for convenience that can be used to have transactions without revealing your identity globally. Of course, almost everything nowadays can be used for illegal activities, we can even say that it could apply to banks like money laundering as well as some transactions, they just don't ban it due to they have the taxes, they have the power to control and manipulate, etc. They have a lot of things to find in Bitcoin just to ban it cause for sure they don't benefit from them, I really remember the time in my country when they would like to put taxes on any transaction in the crypto industry since they seen people having a lot of money without the government being involved, so they announced that they put taxes but eventually they failed to cause its decentralized system.
The case of Swan might not be about educated people acting as if they're not educated at all. Or perhaps it is, considering that while these people like Cory and Yan are Bitcoin supporters, they're also providing centralized custodial services. But my point is that the line which connects Bitcoin services to the fiat world isn't completely severed yet. It will probably stay like this for the next decades. In which case, do they have an option?
Cory is now even considering a lawsuit against FinCEN. That sounds quixotic to me. You link with banks but then you don't want them to implement what's required by the government? It doesn't seem right. To me, it's either you abide or you disconnect from them.
Cory is now even considering a lawsuit against FinCEN. That sounds quixotic to me. You link with banks but then you don't want them to implement what's required by the government? It doesn't seem right. To me, it's either you abide or you disconnect from them.
Lol, what haven’t we heard? They’ve called it a scam just to shut it up, they’ve said it’s used for money laundering and many other illegal activities. I one time saw a thread on this forum that spoke about how people see Bitcoin as negative because someone was kidnapped and the ransom was required in Bitcoin (probably so it can’t be traced? Idc). Bitcoin is only but a currency the difference is the respect of privacy, but they want to shoot it down with so many excuses.
Simply put, banks and fiat are part of the system and bitcoin was invented against the system. Now they are trying to control it as much as possible with more laws, more KYC, demonising mixers and trying to impose blacklists, and if they succeed bitcoin will become part of the system. It's like the ETF spots that everyone is waiting for the price to go up: what they are going to do is make bitcoin even more part of the system.
I agree with what you said: Bitcoin is the opposite of the system that banks and governments have. I also do not believe that the bank is not used for terrorism or money laundering. Because what if the supervising manager of the bank or the owner of the bank himself is doing money laundering and terrorism? I just asked this.
My question is whether this is possible and realistic if we look at the situation. Although we know that banks are very strict when it comes to the rules they have,
A large number of crimes have been happening through fiat currency.
It is no longer about stopping crime and money laundering, BTC is pseudonymous, so it is already difficult for LE to track people's coins if they don't use centralized services, now when people use privacy tools in addition, it becomes very difficult for blockchain analysis companies to get thier 'guesses' correctly. So they set out this strict regulations for centralized services who must provide them information about their customers if they request for it, now in order for these services to be able to do that, they must stop interacting with users who use privacy tools.This is how they attack BTC's fungibility with bullshit about tainted coins, the fiat currencies we touch daily may have been used for one illicit tx or the other, but nobody is tracking it and calling it tainted.
A large number of crimes have been happening through fiat currency.
It is no longer about stopping crime and money laundering, BTC is pseudonymous, so it is already difficult for LE to track people's coins if they don't use centralized services, now when people use privacy tools in addition, it becomes very difficult for blockchain analysis companies to get thier 'guesses' correctly. So they set out this strict regulations for centralized services who must provide them information about their customers if they request for it, now in order for these services to be able to do that, they must stop interacting with users who use privacy tools.This is how they attack BTC's fungibility with bullshit about tainted coins, the fiat currencies we touch daily may have been used for one illicit tx or the other, but nobody is tracking it and calling it tainted.
We always get that narrative because of where Bitcoin has started to be known of its use and that's with the illegal transactions. But I guess that died eventually when Bitcoin entered to the mainstream.
This time, it's all about the mixers and etc. They think of the same idea of how it'd go during the early stage of where Bitcoin has been commonly used.
IMO, there's always the agenda with these issues that the exchanges and the governments that they're bringing up. While the exchanges just follows the rules of the government, they just have to implement what's being imposed on them.
This time, it's all about the mixers and etc. They think of the same idea of how it'd go during the early stage of where Bitcoin has been commonly used.
IMO, there's always the agenda with these issues that the exchanges and the governments that they're bringing up. While the exchanges just follows the rules of the government, they just have to implement what's being imposed on them.
Especially, I do not expect people can be complaining about bitcoin and cryptocurrencies in general that they are causing global warming.
Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.
Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.
These people appear to be educated but not enough educated, but it does not mean they are not educated to the level of others who have accepted bitcoin, it is simply being ignorant and they are aware of it. It is on a different scale and level of comprehension. Their beliefs and perspectives on bitcoin differ from those of us who are Bitcoin enthusiasts. If they dislike and refuse to accept bitcoin, it will have no effect on its global adoption. We haven't seen any repercussions of their lack of declaration of support, purpose, or interest in bitcoin throughout the years. It is clear that they do not want it, and they will go to any length to make it discouraged for anyone who wish to utilise it while continuing to use their services.
~
I laughed so hard at the ignorance and foolishness of these claims. I say it again the government and some people who either feel threatened by bitcoins or do not like bitcoins for some reasons will choose to believe anything and hold on to any reason just to make them have an alibi. What is even funny is that some of the people behind these claims say that they are educated, but yes! Not all educated are educated. You are educated when you are able to find out information and verify information on your own, some of these people have never tried to verify their claims by research to know if they are true, they are just holding on to them. They are not different from the uneducated. 
Why?
This:
And this:
Especially, I do not expect people can be complaining about bitcoin and cryptocurrencies in general that they are causing global warming.
Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.
Not something new, fiat had been used with these illicit activities in the first place, it is really just that it isnt really that getting emphasized just because there's something huge behind it or someone who do really cover up and now that Bitcoin did exist then having those anonymity and decentralized aspect or features then this is the best test subject that they could really be putting up those kind of blame on which trying out to convinceThis:
Quote from: https://cointelegraph.com/news/swan-bitcoin-terminates-customer-accounts-crypto-mixing-services
Bitcoin services platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks.
And this:
Quote from: https://cointelegraph.com/news/swan-bitcoin-terminates-customer-accounts-crypto-mixing-services
Pritzker stated that the current political climate has put a lot of fear into the banking sector, with most banks simply refusing to do business with anything in crypto. Thus, for them to continue their Bitcoin on-ramp services, their custody partner has to interact with banking services governed by FinCEN regulations.
Especially, I do not expect people can be complaining about bitcoin and cryptocurrencies in general that they are causing global warming.
Mixers are seen to be used for illegal activities but the money in banks are not seeing to be used for money laundering and terrorism financing. Among the most fiats used for illegal activities, only little do the government and regulators know about. If there is no bitcoin or other coins and tokens, there will be illegal activities both online and offline and their scam fiat will be used for it.
the masses that it is something that shouldnt really be dealing with just because of those so-called attached issues that they've been throwing it out. What a shame and what a shit thing that had been done.
Only true Bitcoin enthusiast or supporters would really be able to find out for those words to be shit and having no sense. Government doesnt really want for people to make out on engagement on something
that cant be controlled or monitor out and this is why they would really be loving on spreading up those false information and trying out to blind the people on what truly it is
and rather they are focusing on destroying its image and focusing into it and now its been for long years that they do keep on doing that.
Jump to: