I told you crypto wasn't ever going to be anonymous

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Or secure

https://www.bloomberg.com/news/articles/2022-10-03/feds-seized-311m-in-bitcoin-btc-the-crypto-hacker-stole-it-back

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It never has been completely anonymous with every transaction and wallet permanently stored as part of a ever-growing block-chain that is copied onto thousands of devices scattered around the world. Link a criminal to a wallet ID and you know everything they bought or sold using crypto. This law just makes the transfer of that information more official.

The problem I have with cryptocurrency is that it is created by software nerds not governed by any laws or oversight. Whose to say what they wrote into the software code? Or, what rules will be invented once the artificial limits are reached. And, it is not backed by anything, not even the good faith of some government (and all of its citizens). It is only worth what people think it is worth and has no intrinsic value whatsoever. So, storing your money in crypto is pure speculation and a higher risk than most people realize.

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Good post, Brian.

… unsustainable currency for the unsustainable values of what will prove to be a brief and unsustainable subculture of people who live by their own individual “truths”. It will pass along with all the other nonsense … pretty much like a “pet rock”, if you are old enough to remember.

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