# the Blockchain is a bad place to hide really big money
![65907E6D8A1A4370A27EC77384C64D19.jpeg](https://i.imgur.com/buSTOjN.jpg)
## Russia Post by @shortsegments

I enjoyed reading this [post](https://leofinance.io/@shortsegments/can-bitcoin-help-russia-avoid-or-circumvent-sanctions) regarding Russia, it was well written, well referenced and made solid points. 

I wish to take it one step further and declare for all to hear:
***The Blockchain is a bad place to launder money!***

In fact I think the best way to launder money is cash, always has been and always will be.

## Why cash?

Its everything cryptocurrency isn't:
# 
- **The Good**
- untraceable
- fungible
- easy to hide ill gotten gains

- **The Bad**
- All paychecks go to your bank account, which has a mutable, non-transparent ledger, subject to falsification, with prolonged transaction times and arbitrary high fees and penalties designed only to extract more money from helpless captive bank customers.
- It is the opposite of what a free society should have...but it's whats seemingly always has been, so we let it continue. 
- But is that okay?

## Blockchains are cryptographically protected transparent ledgers...

- where the technological focus is making the ledger accurate and unfalsifiable...
- not on hiding the entries and corrections of the entries.

## Russia or any other Nation could use Bitcoin instead of Rubles or Dollars...

- Because it is designed to be used as a unit of exchange, and store of value, so it could be used quite easily, but due to the size of the usual Bitcoin transactions, a Russian government owned company wallet would be hard to hide.

- You see that is the core concept of Bitcoin, the focus is on security of the ledger, not on obscuring transactions. The open, public nature of the Bitcoin ledger is a feature, not a bug.

- Blockchain explorers can be used to track transactions and wallets very easily. All you need is the **TO** wallet, or the **FROM** wallet, or the **TRANSACTION NUMBER** and you know who sent what to whom and when. WHich is not exactly conducive to criminal or outlawed activity.
## Thats it

- Blockchain is complicated by new terminology
- But blockchain concepts are simple to understand
- You just need to get past the words you have never seen and don't understand
- The problem with blockchain is it's hard to find non-blockchain words to describe blockchain stuff.
- Okay I take that back, some people find ways to explain blockchain stuff in non-blockchain words, but they are the exception, not the rule (@shortsegments)

@defigeek


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