Comment by carlmr
12 days ago
>Honestly, the only reason Crypto isn’t bigger IMO is because there is such a large and established set of folks doing laundering in the ‘normal’ system, and those work well enough there is not nearly as much demand as you’d expect.
Correct me if I'm wrong. Doesn't the public ledger make it really bad for this purpose when enough is known about some of the actors interacting on the chain here? It's basically an exact recording that everybody can see, of who interacted with whom, based on pseudonyms, right?
You are not wrong.
Cash is superior in the ability to have intermediate transactions hidden. However it has similar issues in that bills are serialized, and I believe scanned/tracked - or at least there is the capability to do so. So in theory, when moving it out of and back into the system, it can be tied to real identities not just pseudonyms too.
Though frankly, it seems like no one really cares most of the time.