[1]: https://www.taxlitigator.com/the-irs-confirms-its-great-eye-...
1,062 karma · joined May 11, 2022
[1]: https://www.taxlitigator.com/the-irs-confirms-its-great-eye-...
11%-12% of the USA's economy is illegal activity. [2]
If you wanted to commit a crime or evade taxes, probably the dumbest thing you could do is record permanent evidence on a public, immutable ledger.
[1]: https://ciphertrace.com/2020-year-end-cryptocurrency-crime-a...
> Cash—anonymous and liquid—has long served as a tool for criminals. Cryptocurrency, with its similar characteristics, may likewise struggle to ever completely shake its bad reputation, despite illicit transactions making up less than 0.5% of Bitcoin’s yearly volume in 2020.
[2]: https://www.investopedia.com/articles/markets/032916/how-big...
> Estimates vary widely, but some put the underground economy at 11% to 12% of U.S. gross domestic product (GDP).
He should be charged with perjury. Why are the courts letting him submit fraudulent evidence with no consequences?
This is interesting to read. When I first played it I was dying for touch controls. It seemed like such a natural fit for the gameplay of sliding papers around.
> But a major part of Venezuela's crypto operations involves businesses swapping out of bolivars to beat inflation, said economist and finance expert Aaron Olmos.
> "Nobody is going to tell you 'every night when we do the books, we convert bolivars into bitcoin,' but yes, this is happening."
For example: https://www.bbc.com/news/business-60912789
These articles all follow a common pattern.
1. The trigger – Inflation/distrust in government/bank withdrawal restrictions/paypal freezes your funds/country is at war/etc
2. The response – People gravitate towards a system that is resilient to whatever failure mode they experienced
Those who haven't personally experienced #1 (such as world superpowers, the wealthy/"elite") seem not to be able to grasp the benefits. Meanwhile in places that are smaller/less stable/not economically self-sufficient/on the fringe, people are increasingly turning to it as the best alternative.
Yeah the problem is liquidity, and the "bespoke" nature of this kind of bet. I can't just stroll into Bird HQ like Christian Bale and ask them to do all the work for me. I only want to risk a few thousand, not millions. Even setting up the deal might cost more than I was willing to risk in the first place.
Scooters-as-a-service can probably be a profitable business worth millions, but you had to be really out of touch to think it could be worth billions.
To be fair though, the entries on killedbygoogle seem to average ~5 years before death. By that metric 9 years is a respectable run.
No government is capable of this. Even North Korea has people smuggling phones over the border. A single cell or satellite connection that can sustain 2-3 KB/s is all you need to keep the rest of the country connected.