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Isn't this bad for bitcoin? I expect the US will immediately say "No don't pay that" and start prosecuting people that pay via bitcoin, because of course it's traceable. Am I missing something?

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How is this a change from status quo? Bitcoin has been the currency of crime since soon after its inception. Back when you could mine on a CPU it was the way to monetize stolen compute. It was the way to buy illegal things on the now-pardoned silk road. It was the way to pay off ransomware. It is now the currency of dark influence money.

Using it to pay off a shipping protection racket is prettymuch par for the course.

> Bitcoin has been the currency of crime

Like, say, cash, or check, or wires, or any other payment mechanism?

I think it's different because of the message it sends. Using bitcoin to do generic illegal things is an 'offense' to anyone that wants to stop illegal things. But there's already lots of targets to aim for if somebody wants to enforce the law, the method of payment is kindof a small deal. However, in this case using bitcoin is an offense to the other party in the war -- the US. I think the US has a more obvious target, and is more capable to do something about the "problem" than general law-loving-folk are about illegal activity. At the very least, I'd think it breaks the embargo? And the US really has (historically) cared about that.

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