Highest Rated Comments

djleo382 karma

Hi Ben Lawsky, thanks for doing this! My question is why is money laundering still a priority for regulators? As former Federal Reserve Governor Lawrence Lindsey noted:

Between 1987 and 1995, the government collected 77 million currency- transaction reports, something on the order of 62 tons of paper. Out of that, it was able to prosecute 3,000 money-laundering cases. That is roughly one case for every 25,000 forms filed. In other words, entire forests had to be felled in order to prosecute one case. But it gets worse: Of the 3,000 money-laundering cases prosecuted, the government managed to produce only 580 guilty verdicts. In other words, in excess of 100,000 reports were filed by innocent citizens in order to get one conviction. That ratio of 99,999 to one is something we normally would not tolerate as a reasonable balance between privacy and the collection of guilty verdicts.

djleo12 karma

Are you planning to put a Bitcoin node on Mars? If so, how can the Internet reach there?

djleo5 karma

Would it be more feasible to land a Bitcoin node on the moon or to put one in orbit?

djleo2 karma

Agreed - would be awesome to have a pay to play for racing micro rovers. I don't know how you'd stop people trying to crash them into each other though.

djleo2 karma

I found there is a bit sat project already underway if you'd like to team up with them.