510 sats \ 5 replies \ @CruncherDefi 22 Oct 2023 \ on: A perfect visualization of how absurd KYC/AML is bitcoin
That is very shallow analysis and poor reasoning. For better reasoning make a counterfactual analysis.
What happens in the case of not doing an intervention? Perhaps not doing an intervention increases criminal liquidity flow 1000x and it's still net positive to make an intervention?
I'm a brainlet im sorry, it truly wasnt very deep analysis, just found it to be an intriguing share from the linked post I was reading
The author does expand just below those charts on what those costs are going towards, in a much more understood way than I could
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You make a good point but I'll raise you one more.
Does KYC actually stop the criminals at all? Perhaps the criminals are not stupid and they still manage to flow their funds around regardless of KYC.
I found this chart on illustrate my point. I don't even know how you can measure such a thing because by definition, these criminals are trying to hide. But even if the chart isn't accurate the point still stands. If KYC isn't actually lowering crime it's doing more harm than good.
And even if KYC was lowering crime it's still targeting the wrong problem. Holding and transferring money is not illegal. Selling drugs might be illegal but that's because of the drugs, not the money.
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Exactly! Another classical case of the seen vs. the unsern.
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Perhaps not doing an intervention increases criminal liquidity flow 1000x
I don't see how this could be reasonable, the difference between cash payments and online bank transactions for physical deliveries is not that high. 10x max, I think your getting wild with your "powers" 😉
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My reply was not about specific numbers. It was about reasoning framework.
I just picked some numbers showing that backward 'conclusion' is possible given some variable values.
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