bitcoin trading.

markj113

ValiantSon wrote: »

Have you ever tried running a significant criminal enterprise that is based solely in cash? It would be an absolute nightmare.

Crypto currencies are effectively anonymous, or at least they have the potential to be.

They seemed to manage ok up until 6 years ago when bitcoin was created, also the value of bitcoin would only be viable for the last 2 or so years.


Also how would you get a significant amount of illegal cash into bitcoin? Exchanges would require a bank deposit and KYC information for sums greater than about £2k

ValiantSon

markj113 wrote: »

They seemed to manage ok up until 6 years ago when bitcoin was created, also the value of bitcoin would only be viable for the last 2 or so years.

Actually, it was a real problem, although not an insurmountable one.

markj113 wrote: »

Also how would you get a significant amount of illegal cash into bitcoin? Exchanges would require a bank deposit and KYC information for sums greater than about £2k

Yes, because all of those exchanges are renowned for their following of the rules! Who says that they are using UK or EU based companies?

Ask the large number of criminals who it is a fact, are using crypto currencies for their illegal purposes.

JohnRo

Significant criminal enterprises disguise, place, layer and launder their ill gotten gains through various forms of fronting company networks, myriad asset purchases and disposals, alongside false accounting and record keeping. They use fiat to do that, always have and in all probability always will.

Your assertion that cryto is somehow responsible for and/or facilitating this process flies in the face of all logic, reason and practical common sense, much less evidence.

Endlessly regurgitating the tabloid nonsense that seemed to reach fever pitch about five years ago doesn't make it any more valid now than it never was then.

Clearly some petty crime is fascilitated by crypto, either directly or indirectly through the various scams and schemes designed to exploit the naive but that's a universal problem.

ValiantSon

JohnRo wrote: »

Significant criminal enterprises disguise, place, layer and launder their ill gotten gains through various forms of fronting company networks, myriad asset purchases and disposals, alongside false accounting and record keeping. They use fiat to do that, always have and in all probability always will.

Did I say that they didn't?

JohnRo wrote: »

Your assertion that cryto is somehow responsible for and/or facilitating this process flies in the face of all logic, reason and practical common sense, much less evidence.

Not my assertion: your erroneous inference.

Oh, and I've given several pieces of evidence, but don't let the facts get in the way of you pushing an agenda.

JohnRo wrote: »

Endlessly regurgitating the tabloid nonsense that seemed to reach fever pitch about five years ago doesn't make it any more valid now than it never was then.

Tabloid nonsense??? I posted evidence from Europol, the OECD, the UN, and an academic paper. Your understanding of the tabloid press is rather strange.

JohnRo wrote: »

Clearly some petty crime is fascilitated by crypto, either directly or indirectly through the various scams and schemes designed to exploit the naive but that's a universal problem.

Whatever.

JohnRo

ValiantSon wrote: »

Whatever.

Most sensible thing said.

ValiantSon

JohnRo wrote: »

Most sensible thing said.

Well that's one more than you then.

JohnRo

It's an eternal mystery this cryto rage thing. What is it you want to see exactly other than any and all counters to your ignorance being removed and the last word always being yours?

Malthusian

JohnRo wrote: »

Significant criminal enterprises disguise, place, layer and launder their ill gotten gains through various forms of fronting company networks, myriad asset purchases and disposals, alongside false accounting and record keeping. They use fiat to do that, always have and in all probability always will.

Your assertion that cryto is somehow responsible for and/or facilitating this process

No-one has asserted any such thing.

Crypto does not facilitate money laundering. It renders money laundering obsolete. That is why the predominant use of cryptocurrency as a currency, i.e. for buying goods and services, not trading it back and forth between speculators, is by criminals to buy illegal goods.

Malthusian

markj113 wrote: »

Supernet are well established and have been around for several years.

Their platform is at the cutting edge with decentralised & trustless exchanges using atomic swaps, decentralised ICO tech, decentralised gaming, multi coin wallet, in wallet coin mixer and a transaction limit that exceeds visa.

All of which is totally irrelevant to the question of whether its transaction fees generate sufficient external revenue to pay Komodo hodlers a yield of 5% per annum.

markj113

Malthusian wrote: »

All of which is totally irrelevant to the question of whether its transaction fees generate sufficient external revenue to pay Komodo hodlers a yield of 5% per annum.

The 5% interest does not come from fees they are generated as part of the mining process expiring around the year 2031

https://coincentral.com/komodo-platform-beginner-guide/


"KMD (Komodo) token trading

Interest

As a KMD token holder, you receive up to 5% interest on the tokens that you hold each year. Unlike a normal Proof-of-Stake system, there is no need to keep your wallet online to get your interest. To claim your interest and reset the yearly maximum, all you need to do is transfer your tokens to another wallet address.
The interest rewards will disappear once the entire supply of 200 million KMD are mined. The team projects that this will occur sometime in 2031."

You are confusing the KMD token with others that were issued free to KMD holders as part of an airdrop that also pay a dividend based on exchange/coin mixer fees.


The biggest issue with crypto is that its new and evolving fast. Unless you keep up with developments on a regular basis its easy for your knowledge to become outdated. This then leads people to make inaccurate comments which is then regurgitated by others.