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seems to me that the problem is less about bitcoin and more about the trackability of electronic money. It is becoming increasingly difficult to move even modest sums around as cash in the UK.

Any payment into a bank account fof £5k and more instantly gets signalled to the police as a potential for drug trafficking. You actually have to prove your innocence, as I once did when I was signing on to the DWP.

It also explains the popularity of Fixed Odds Betting Terminals (FOBT) in betting shops around the UK, which are the best money laundering scams for small time drug dealers going. They regularise the dark economy and allow the Treasury to keep tabs on what's happening. their role in keeping the impoverished down is just colatteral damage.

So bitcoin becomes popular because cash is treated as suspect by the authorities. Which creates more problems than the clampdown on cash was supposed to solve. Authoritarianism is always the problem.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Thu Aug 3rd, 2017 at 02:21:27 PM EST
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