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© KYODO7,000 cryptocurrency laundering cases reported in Japan in 2018
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© KYODO
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Strangerland
No one knows the impetus for this, as no one even knows who actually created the blockchain technology and put it out there.
So all we can really do is judge the results.
Ever since humanity created currencies, we've been required to use the banks to manage our money. They used the same methods as the priests with religion. The priests convinced the people that the only way to talk to the gods was through the priests. The banks have made it so that the only way to deal with large quantities of cash were the banks.
Blockchain technology takes the power away from the banks, and puts it in the hands of the people. No longer do we have to give them our money just to manage our money. No longer do we have to rely on them for overseas transfers. No longer do we have to let them insert themselves into our financial matters in order to manage our finances.
This is the true power of the blockchain - it gives the people power. This is why the banks hate blockchain technology, or want to try to control it.
I look forward to rates stabilizing, and a deeper incorporation of digital currencies, so that we don't have to be reliant on the banks in the future. We're on the way there.
But maybe some people would prefer to be controlled and have to give the banks money to manage their money.
Jeff Huffman
John RichardsonMar. 1 01:44 pm JST
speaking of the devil. was just typing about this. they were paying for their child pornography with cryptocurrency?
That was the impetus behind this new form of barter - a way to pay for and launder money used for illegal activity.
sf2k
the needs of the many outweigh the needs of a rich few or a crypto
John Richardson
speaking of the devil. was just typing about this. they were paying for their child pornography with cryptocurrency?
stepoutsidethebox
"I predict cryptocurrency will be legislated out of existence very soon."
Lol... Someone hasn't been paying much attention to the world at all. SEC is going to officialy legalize crypto soon. And places like Fidelity are adding crypto.
"Of course it can be controlled it because the various groups are building server farms strictly for manufacturing this fake money." again... un-informed. That is about BTC. Which is only about 52% of the market but has fallen to 30%. It would be claiming that because the Venezuela bolivar is ultra hyper inflated all fiat currency is pointless.
Again!!! More misinformation!!! "crypto requires huge amounts of electricity, from public utilities." Here is the real information broken down by an environmentalist. https://hackernoon.com/the-reports-of-bitcoin-environmental-damage-are-garbage-5a93d32c2d7?fbclid=IwAR2rhNX909f-9amjRXWxAaHpD2htZ8BcOOQ1JSIrpArDKSgvXXy9uASqpYA
Strangerland
IP addresses cannot be counted on as an accurate representation of location. I've logged into my cryptocurrency account from an IP address that is outside of Japan, after I routed through that IP address from within Japan. So to the outside observer, it appears I am logging in from outside Japan, even though I have not left the country.
sf2k
crypto requires huge amounts of electricity, from public utilities. They can be stopped like grow-ops
Mlodinow
Goodness gracious. How dare people log into their accounts whilst travelling overseas. How rude of them!
Jeff Huffman
NAN DESU KAFeb. 28 11:00 pm JST
Crypto is here to stay, you cant legislate what you don't control
Of course it can be controlled it because the various groups are building server farms strictly for manufacturing this fake money.
https://www.forbes.com/sites/williampentland/2018/03/25/bitcoin-mining-triggers-backlash-from-electric-utilities/#28ccc1dc3997
Kenji Fujimori
Well Mark Kapelles of Mt Gox started all the fraud
NAN DESU KA
Crypto is here to stay, you cant legislate what you don't control, as governments continue to print themselves into even deeper holes crypto will become more mainstream. The world already banks digitally, wont be long before the cashless society we are becoming is 100% digital and precious metals are the only real monetary hard asset. Hold your wealth in Gold and function digitally:)
sf2k
Japan doesn't have the staff and doesn't attract those that can