Re: Just ban it already
Its not anonymous at all - people who have stolen crypto and tried to launder it or wash it through privacy tokens and split it through thousands of small transactions have been fully traced and caught.
As is often the case with new tech, the scammers online who are selling false promises are giving the whole base a bad name. I they are selling trading education then it means they aren't making any money doing it. As for NFTs and metaverse pseudo-land, I'd rather trade a 90s Tamagochi. Who remembers Linden Labs 2nd Life? That was centralised and still went unfashionable.
So 2% of crypto transactions are reckoned to be fraudulent but against 5% of banking transactions it seems to me that the banks need to be stopped from assisting criminals more than crypto exchanges.
As for miners - yes its got far too energy intensive due to large corporations trying to hoard all the minted tokens. Proof-of-stake is the way to go. I like the idea of a publicly auditable proof of transaction as a cure for the banker's fraudulent ways.
Biting the hand that feeds IT
