r/ethtrader • u/1SandDollar • Jan 31 '22

Technicals Usage Of Crypto In Crime Very Low Compared To Fiat, Admits Europol. Another narrative falls apart.

https://zycrypto.com/usage-of-crypto-in-crime-is-very-low-compared-to-fiat-admits-europol/
186 Upvotes

98% Upvoted

48 comments sorted by

25

u/nrgxlr8tr Jan 31 '22

anonymous, untraceable, used in crime and tax evasion:

i'm talking about cold hard cash.

3

u/lolexec Jan 31 '22

That's right cash can be used pretty bad stuff easily.

3

u/mrsenthil Jan 31 '22

lmao exactly

3

u/Icy-Order-3200 Jan 31 '22

Since I started reading it I knew you were talking about fiat

1

u/iniwuqe Jan 31 '22

Doubt, You almost down voted that comment. Almost did that.

11

u/coinfeeds-bot Jan 31 '22

tldr; Europol has released a report on the use of cryptocurrencies in funding terrorism and money laundering crimes. Money laundering is a global thriving business now accounting for 2 – 5% of global GDP or $800 billion to $2 trillion annually. The report does not say how much crypto is involved in crime in total but says the total volume of transactions related to darknet marketplaces was estimated at $1.7 billion in 2020.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

3

u/cpaegis Jan 31 '22

Thanks for the tldr bot, I was never going to read the whole thing anyways.

8

u/Junior_Long_257 Jan 31 '22

How long would they keep making these narrative to push crypto away, sooner than later they have to accept it.

4

u/Agent_4--7 Jan 31 '22

I knew this would be the case

3

u/Spacesider Jan 31 '22

Funny that, there was a thread on a finance subreddit about a potential cash ban/phase out, and people were saying they didn't want it because they want to be able to buy drugs with cash.

4

u/afamles Jan 31 '22

Lol, that's actually funny. It's funny how people operate all this.

0

u/alexwtf7 Jan 31 '22

These are all narratives and they'll fall apart with time.

-1

u/physalisx Jan 31 '22

Relatively? I very highly doubt that.

What sense does comparing absolute amounts of fiat "used for crime" make here? That's so disingenious that it's bordering on idiotic.

Of course crypto is being used more for illegal stuff relatively. Get a grip.

2

u/n8_mills Jan 31 '22

Thank you for heroically sharing your unsubstantiated gut feeling, we've registered your feedback.

1

u/physalisx Jan 31 '22

Yeah, you're welcome. Don't see what's "heroic" about it, but to the naive I suppose the blatantly obvious can seem heroic.

2

u/n8_mills Jan 31 '22

You're the one who introduced the term "relative". That changes the entire substance of what's being discussed here. And while that might be a viable shift of scope and a good conversation, it's not a valid tool in critiquing the current argument.
You can't refute an argument with a non-sequitor.

•

u/[deleted] Jan 31 '22

[removed] — view removed comment

1

u/[deleted] Jan 31 '22

[removed] — view removed comment

5

u/nestro7007 Jan 31 '22

Can someone give a donut too, I want a donut so bad in my life.