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Be kind to your elders (lemmy.world)

submitted 2 days ago by The_Picard_Maneuver@lemmy.world to c/whitepeopletwitter@sh.itjust.works

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[–] sugar_in_your_tea@sh.itjust.works 2 points 15 hours ago* (last edited 15 hours ago) (1 children)

The estimated amount of money laundered globally in one year is 2 - 5% of global GDP, or $800 billion - $2 trillion in current US dollars.

Source.

If crypto was so great for money laundering and illegal activity, we'd see so much more of it. The number is as high as it is because Bitcoin is super convenient, so people go out of their way to try to make it work.

[–] Knock_Knock_Lemmy_In@lemmy.world 2 points 13 hours ago (1 children)

Agreed. The upper estimate is that only 5% of money laundering goes through crypto.

[–] sugar_in_your_tea@sh.itjust.works 3 points 13 hours ago (1 children)

If we can somehow kill off the bulk of the pump and dump nonsense and discourage speculation, maybe we can get somewhere with crypto.

[–] Knock_Knock_Lemmy_In@lemmy.world 2 points 12 hours ago (2 children)

First wave was ICOs

Second wave was NFTs

Third wave was (is) memecoins

Are the waves are getting smaller?

[–] putainsdetoiles@lemmy.world 1 points 12 hours ago

Next wave is real-world asset tokenization. I think we'll see more and more shifts to useful applications as the tech matures.

[–] sugar_in_your_tea@sh.itjust.works 1 points 12 hours ago

Hopefully. It seems like the whole dapps/web 3 thing fizzled, so it's probably not going to be that next.