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Saifedean Ammous @saifedean
, 4 tweets, 1 min read Read on Twitter
Bitcoin's transparency, finite supply, and incorruptibility continue to give it little chance of competing with the traditional banking system & its creative money creation mechanisms for criminal activity and money laundering.
Criminalizing drugs doesn't end them, it just creates incentives for cartels to capture anti-drug agencies & establish monopolies. Criminalizing money laundry also doesn't end it, just creates incentives for organized crime to capture banks & enforce monopolies.
Money-laundering with @DeutscheBank allows you to utilize their capability to legally *create* money through maturity-transformation & fractional reserve lending in dozens of jurisdictions. Bitcoin has nothing like that. It just can't compete with govcoins for serious crime money
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