Comment by bgwalter
4 months ago
Bitcoin has had the fortune of being one of the settlement methods for sanctions evasion. Its price has almost certainly profited from the Ukraine war.
Renewed interest by the Trump clan with Lutnick's Cantor & Fitzgerald handling Tether collateral in Nayib Bukele's paradise wasn't easy to predict either.
Neither was the recent selloff. It would be hilarious if it was for a slush fund for Venezuelan rebels or army generals (bribing the military was the method of choice in Syria before the fall of Assad).
I am aware of using crypto for money laundering, sanctions evasions and even buying drugs online. I wonder what would have happened without Bitcoin. There would never have been a Silk Road, and ransomware would have had to use vouchers and so, right? Everything would be so different.
crime finds a way. any means of semi anonymous and/or non recourse value storage and exchange will suit. iTunes/play store/steam prepaid cards and accounts, money orders, western union, etc.
Agree with you it would be different, crypto is global, most of the accessible alternative methods are localized to varying degrees.