Replying to Avatar StackSats.IO

I disagree.

There’s only 21 million of these things - even if the State tries to impose rules on such things, they’re so rare that institutions will find ways to enable access to mixed coins.

Epstein started primarily as a money launderer and progressed to Mossad blackmail schemes.

The market for “money laundering” ain’t going anywhere and if TradFi can benefit, they’ll do it.

Bitcoiners I think won’t get caught fucking kids on an island - but “money laundering” is a fake crime, I don’t see them having moral quandaries over hiding their coins from the State and finding backdoors to fiat rails where needed.
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Ben Weeks ⚡ 1y ago

You don’t think if you go to buy a house with Bitcoin they will run chain analysis on the utxo’s and reject coins that have been mixed? I think they would in the UK at least ;-)

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StackSats.IO 1y ago

I think if you (UK) or I (AUS) went to a bank today and told them we have Bitcoin and want a mortgage we’d get laughed out of the room.

There are products emerging, albeit they use private capital and they DGAF about mixed coins. You’ll be paying 10-12% interest, but they’re not going to analyse source.

Those companies will be the beachhead. The banks will come and when they do they won’t get to be picky due to distribution constraints. If they’re forced to, expect them to have a loopholes division..

One other thing to note. You and I are very familiar with the constrained tradfi systems of our countries - it’s not necessarily like that in all 200+ countries around the world..