Unexpectedly, a technology designed to escape any form of state regulation has allowed criminal activity to grow exponentially:
➡️ Millions of poor suckers have had their lives crushed in crypto-currency scams
➡️ #Bitcoin/crypto-currencies have fueled a multi-billion dollar criminal ransomware industry, targeting businesses, states, critical infrastructure, hospitals, ....
It's time to put an end to this madness and ban crypto-currencies permanently.
How would you ban cryptocurrency? Serious question
@ceresbzns
With a law ...
Exchange platforms would be illegal in most countries, crypto apps would be removed from official Google & Apple stores. No big company / bank / fund would be allowed to own any of it.
This would crash the price instantly.
OK. Now it's illegal. Do you think that the law enforcement capacities of each major government are sufficient to enforce such a decision?
Just because something is illegal doesn't mean that everyone actually obeys the law without serious threat of enforcement. I'll point out that money laundering and illicit drug use are illegal but there's still an awful lot of laundering and drugs out there (and, being made of atoms, drugs are a lot harder to move and conceal than bits).
@ceresbzns "Do you think that the law enforcement capacities of each major government are sufficient to enforce such a decision? "
It is enough to move away the vast majority of people away from it and thus to drive its price to zero and make it useless.
Majority of people would go away, but we're not talking about majorities, we're talking about utility for criminals.
As such, I'm skeptical of your claim it actually go to $0. BTC was used on Silk Road when it was a $1 and supported $MM in illicit commerce.
Peer to peer cash transaction marketplaces for crypto exchange exist.
So if you made cryptocurrency illegal, would it actually solve the ransomware problem?
Franck Leroy
serious business