Banks' jobs have been killing the economy.
People's confidence in the current financial system is declining, inflation and economic recession are also attributed to the current banking system.
Bitcoin and crypto can solve the above problems
Topic: Banks Launder $2 Trillion While Claiming BTC Is For Money Laundering? (Read 280 times)
September 25, 2020, 09:26:27 AM
September 24, 2020, 07:57:14 PM
I wasn't surprised to knowing that Banks launder was $ 2 Trillion, because illegal activities that occur on fiat have existed
since Bitcoin did not exist. So it's a little surprising when the government considers Bitcoin to be used for money laundering
and financial terrorism. In fact, fiat is proven to be widely used for money laundering and financial terrorism. Maybe the
government is doing this to make Bitcoin look bad, because the government is afraid Bitcoin will replace fiat.
since Bitcoin did not exist. So it's a little surprising when the government considers Bitcoin to be used for money laundering
and financial terrorism. In fact, fiat is proven to be widely used for money laundering and financial terrorism. Maybe the
government is doing this to make Bitcoin look bad, because the government is afraid Bitcoin will replace fiat.
September 24, 2020, 07:24:06 PM
The only reason they're pointing fingers is to attempt to stop Bitcoin.
Just a series of experiment, but they never worked. I believe the government will not allow bitcoin to damage the economy, but we (the bitcoin community) already have a power that can cause fear in the government as well as the economy with bitcoin.So far, the government seem to only see bitcoin as a criminal tool that can harm a country, but in fact they have also failed to stop similar cases with fiat. It doesnt make sense for the government to want to stop bitcoin just because it can be used by criminal, and I think there is an interest factor in that. Not a good idea.
~~~
I'd bet you anything that more than half of the wealthy ones have earned their money at one point the less legal way. So have politicians and so many other well-known people.
I can assure you that you will win that bet. I'd bet you anything that more than half of the wealthy ones have earned their money at one point the less legal way. So have politicians and so many other well-known people.
Its an open secret and the whole country can do it.
money laundering has been here for ages already. so when they talk about btc for money laundering? they are just fooling themselves, looking for loopholes to ruin the image of btc?
if they will educate themselves, they will know the true benefits that they can derive from using btc or blockchain tech. they are just scared for the things that will change once this technology is out even in government transactions.
September 24, 2020, 07:17:34 PM
This is not true at all and you all understand it. BTC is not designed for money laundering. Much more money is laundered in other ways, including using the us dollar.
You are absolutely right because bitcoin was designed as an alternative means to make people financial freedom but the decentralized aspect of it is what the government and institutions don't like about it which the reeason why they make some false statements about crgpto to be an instrument of money laundering and darkweb. But the information provided by the OP make us to understand that all the scam and launder done through crypto is still amateur. 
September 24, 2020, 12:11:23 PM
The only reason they're pointing fingers is to attempt to stop Bitcoin.
Just a series of experiment, but they never worked. I believe the government will not allow bitcoin to damage the economy, but we (the bitcoin community) already have a power that can cause fear in the government as well as the economy with bitcoin.So far, the government seem to only see bitcoin as a criminal tool that can harm a country, but in fact they have also failed to stop similar cases with fiat. It doesnt make sense for the government to want to stop bitcoin just because it can be used by criminal, and I think there is an interest factor in that. Not a good idea.
~~~
I'd bet you anything that more than half of the wealthy ones have earned their money at one point the less legal way. So have politicians and so many other well-known people.
I can assure you that you will win that bet. I'd bet you anything that more than half of the wealthy ones have earned their money at one point the less legal way. So have politicians and so many other well-known people.
Its an open secret and the whole country can do it.
September 24, 2020, 11:18:43 AM
Pointing fingers doesn't make them cleaner. They are trying to paint Bitcoin dirty and yet they can never hide the fact that they are the ones who are making money laundering a thing. They cannot say no to criminals in coat and ties.
Money laundering wouldn't be easy without their facilitation. Even money laundering through Bitcoin won't probably end without the dirty Bitcoins ending up in fiat.
The only reason they're pointing fingers is to attempt to stop Bitcoin. Let's face the truth here - a Bitcoin economy means there's no need for banks. No bank is stupid enough to say "yeah, let's self-destruct!". Money laundering isn't something new and I'd bet you anything that more than half of the wealthy ones have earned their money at one point the less legal way. So have politicians and so many other well-known people.Money laundering wouldn't be easy without their facilitation. Even money laundering through Bitcoin won't probably end without the dirty Bitcoins ending up in fiat.
It's just more than easy to understand why they're against us: Bitcoin is against banks. Simple as that.
September 24, 2020, 10:43:34 AM
Pointing fingers doesn't make them cleaner. They are trying to paint Bitcoin dirty and yet they can never hide the fact that they are the ones who are making money laundering a thing. They cannot say no to criminals in coat and ties.
Money laundering wouldn't be easy without their facilitation. Even money laundering through Bitcoin won't probably end without the dirty Bitcoins ending up in fiat.
Money laundering wouldn't be easy without their facilitation. Even money laundering through Bitcoin won't probably end without the dirty Bitcoins ending up in fiat.
September 24, 2020, 07:53:13 AM
The op is right. I've seen various scandals with huge banks laundering money (I'm not just talking about neglect, I'm talking about banks taking part in those crimes), but somehow these banks are still in business and people still generally believe that banks can be trusted. Sometimes even a single big scandal exceeds Bitcoin's total market capitalization, so talking about Bitcoin being dangerous since some use it for money laundering is extremely unfair. And since all that accountability in the banks leads to huge sums laundered by those who are supposed to ensure that it's not possible, I'm skeptical about AML regulations being forced onto crypto exchanges and stuff, because clearly they're not helpful with fiat.
September 24, 2020, 07:46:24 AM
People are basing on the nature of Bitcoin and it's potential to become a tool for money laundering which is why a lot of people are saying that Bitcoin is being used to launder money. With enough development, Bitcoin will surely attract the attention of fraudsters and launderers, it's inevitable.
Do not be mistaken, banks are being used in laundering money and only ignorant denies it so it's not a surprised that that kind of money is being laundered through the system of banks. Also, bank is more developed than Bitcoin.
Do not be mistaken, banks are being used in laundering money and only ignorant denies it so it's not a surprised that that kind of money is being laundered through the system of banks. Also, bank is more developed than Bitcoin.
You can't launder money without banks! And even if you use bitcoin or any other crypto for money laundering you need to end the process with banks and banks will take the fee, like they always do! Majority of people is ignorant, they use money every day, but they don't know where the money is coming from, who creates money, how the money is distributed, they don't know basics about the system they are using and support!
Bitcoin is under the spotlight for years, you can move money from one part of the world to another, with very low fees, and without government/bank interfering. That is suitable for people from white and dark side, it's a tool that is used by all!
September 24, 2020, 05:34:50 AM
In light of these reports governments, securities regulators and executives at global financial institutions have some explaining to do. They have been raking tremendous profits for executives and shareholders by moving dirty money.
Interestingly the leaked documents stem from a congressional investigation into the 2016 U.S. presidential election. We are less than 45-days away from the 2020 elections.
This is not the first instance about money laundering through banks, we will see these reports and then everything goes silent after a while, i have not seen anyone getting implicated for these activities till now and the government always protects these bankers, even if they implements disastrous policies that could bankrupt the government would step in, so i am not expecting any difference even with this report.Interestingly the leaked documents stem from a congressional investigation into the 2016 U.S. presidential election. We are less than 45-days away from the 2020 elections.
Why do these gatekeepers cast doubt about supporting crypto while laundering trillions of dollars for global crime cartels?
It is because anyone can blame a decentralized financial market and it is an easy target for all the centralized institutions. September 24, 2020, 02:44:51 AM
People are basing on the nature of Bitcoin and it's potential to become a tool for money laundering which is why a lot of people are saying that Bitcoin is being used to launder money. With enough development, Bitcoin will surely attract the attention of fraudsters and launderers, it's inevitable.
Do not be mistaken, banks are being used in laundering money and only ignorant denies it so it's not a surprised that that kind of money is being laundered through the system of banks. Also, bank is more developed than Bitcoin.
Do not be mistaken, banks are being used in laundering money and only ignorant denies it so it's not a surprised that that kind of money is being laundered through the system of banks. Also, bank is more developed than Bitcoin.
September 24, 2020, 02:19:47 AM
Well with the tag of privacy, pseudo-anonymity in the name of Bitcoin, it's rather easy to create an image of a medium mostly being used for criminal activities. Though honestly, with enough influence (or money), anything can be hidden from the public eye, and as long as they don't know, no one would really admonish them no? Ignorance is bliss perfectly suits the masses here tbh. Plus, it's honestly more likely for illegal activities to happen on centralized businesses, which just makes it more likely that something is happening under the table most of the time.
This isn't because Bitcoin is pure and inherently repels criminals from it, it's because it's generally not well adopted, even among criminals. Plus, privacy is far from perfect now, so moving large amounts of money and not getting detected later would be quite hard. But Bitcoin has privacy improvements in its roadmap, so if we imagine that Bitcoin would one day be as popular as banks, than all the criminals will switch to it too. And if Bitcoin will not get more popular, than there's really no point to be happy about banks helping criminals.
Even if we do consider Bitcoin being used instead of fiat, the money originally would come from centralized companies, either through moles or insiders, which honestly still makes the ones at fault the companies by being quite careless. There would still be a window or frame that criminals would use fiat to transfer funds to Bitcoin, so if securities could capitalize on that, and as long as they know that these criminals would go 100% for exchanges or p2p to trade BTC for their stolen fiat, then they can anticipate and intercept, with enough resources used on the investigation that is. 
September 24, 2020, 12:21:41 AM
The volume of transactions and amount of money involved make the "Dark Web", cyber-criminals, crypto exchange hackers and other bad actors look like amateurs.
This isn't because Bitcoin is pure and inherently repels criminals from it, it's because it's generally not well adopted, even among criminals. Plus, privacy is far from perfect now, so moving large amounts of money and not getting detected later would be quite hard. But Bitcoin has privacy improvements in its roadmap, so if we imagine that Bitcoin would one day be as popular as banks, than all the criminals will switch to it too. And if Bitcoin will not get more popular, than there's really no point to be happy about banks helping criminals.
September 23, 2020, 11:53:15 PM
Many scams are based on the idea of making you believe that the one who is scamming the other is you. So you don't realize that it's the other way around.
In the same way, banks blame money laundering on bitcoin, to divert attention so that people don't realize that they are laundering the most money and appear to be honest institutions.
In the same way, banks blame money laundering on bitcoin, to divert attention so that people don't realize that they are laundering the most money and appear to be honest institutions.
September 23, 2020, 11:45:41 PM
Probably because if bitcoin is legalized, then banks will no longer be needed. Everyone is watching the digital yuan testing in China.
If the US government is investing huge amounts of money to track transactions on the blockchain, then in the future, cryptocurrency will play an important role in the field of payments.
Banks will fight to the last, while there is a possibility.
If something threatens the system then they will do everything in making sure that it will not dominate. That is the law for competition and this banking institutions will do anything in their power to not get their old system become entirely obsolete. The problem with legalizing bitcoin is there is no clear way to address the grey area, let's admit it that there will be people with ill-intent that will exploit bitcoin's grey area. The future of cryptocurrency will advance no matter what though and governments either accept it entirely or not. If the US government is investing huge amounts of money to track transactions on the blockchain, then in the future, cryptocurrency will play an important role in the field of payments.
Banks will fight to the last, while there is a possibility.
September 23, 2020, 09:28:48 PM
This may be the popular idea before when Bitcoin was still mostly used underground, but ever since Bitcoin has went mainstream the idea has faded away. Perhaps only a few stubborn people are left sticking to this anti-Bitcoin view.
As to money laundering, fiat is the money used by everyone so it is understood that it will also be the same money used for money laundering. The entire fiat value of Bitcoin is a tiny amount compared to the overall fiat amount in circulation.
As to money laundering, fiat is the money used by everyone so it is understood that it will also be the same money used for money laundering. The entire fiat value of Bitcoin is a tiny amount compared to the overall fiat amount in circulation.
September 23, 2020, 07:39:47 PM
What's more about banks is they can steal your money by printing money. Bitcoin can only be compared to little in criminal rate happening in Banks, yet mainstream only highlight Bitcoin's negative activity. But they do not banks data breaches, frozen accounts, and huge money laundering scheme's.
If people could only do their own research, they wouldn't be afraid in joining the Cryptocurrency market.
If people could only do their own research, they wouldn't be afraid in joining the Cryptocurrency market.
September 23, 2020, 07:06:04 PM
Banks pointing fingers to cryptocurrencies such as Bitcoin as a tool for money laundering is a part of a great cover up and deception which unfortunately has been deliberately amplified in social media and Government's preferred a silent treatment about this matter since they always want to preserve the status quo without regard to preserve its integrity and ethics.
September 23, 2020, 05:28:04 PM
This story is quite funny, sad, but ultimately good for us. The argument that crypto is for criminals, which I have heard many times, rings very hollow now. I'm invested in the stock market, but definitely not in banks, and I'm glad I'm not !
September 23, 2020, 12:04:32 PM
Why do these gatekeepers cast doubt about supporting crypto while laundering trillions of dollars for global crime cartels?
Because with bitcoin, banks will have no chance to launder money amymore. There are a lot of criminal activities going with fiat currencies which most of the times are not visible to us. With bitcoin, even if there's miney laundering happening, the rate is too lower compared to fiat.Our country's reserve money with Federal Reserve Bank has been stolen but yet no such progress in recover, a lot of banks were involved with it.
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