Cryptocurrency exchange network accused of helping Russia hit with sanctions
www.voanews.com
US Treasury sanctioned alleged Russian hacker Sergey Ivanov and Cryptex — a St. Vincent and Grenadines registered virtual currency exchange operating in Russia
  • IrateAnteater@sh.itjust.worksEnglish
    22·
    2 months ago

    I thought dodging state imposed transaction restrictions was kinda the whole point of cryptocurrencies (other than the pyramid scheme part).

    • shortwavesurfer@lemmy.zipEnglish
      421·
      2 months ago

      Neither of those things are true. As the majority of crypto is used for above-board legal transactions, just like most fiat currency transactions are legal and above-board. As for the pyramid scheme, the biggest example of one that I can find right now is the US Dollar and its inflation.

      • jumjummy@lemmy.worldEnglish
        7·
        2 months ago

        Found the cryptobro. Neither of your statements are true. Crypto is absolutely a pyramid scheme, and if you took out the quick ability to convert to USD or other fiat currency, it would collapse.

        • shortwavesurfer@lemmy.zipEnglish
          13·
          2 months ago

          Not totally. monero is building a circular economy of people who price items in Monero, and buy/sell in Monero. Some of us desire to flip fiat the bird and do the best we can to live on Monero only. It works too. As an example i have bought groceries with monero for over a year and a half.