Bitcoin and Money Laundering | Bitcointalksearch.org

Dalkore

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Mining since 2010 & Hosting since 2012

Quote from: stevegee58 on December 20, 2012, 11:51:59 AM

Baloney. This has already been covered before.

The single largest and best vehicle for money laundering is the USD in the form of physical bills.

Liquid and untraceable.

Actually digital USD is the preferred medium; liquid, traceable and unenforceable (Ask HSBC).

Herodes

hero member

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yeah, banks does nothing wrong.

https://bitcointalksearch.org/topic/banks-that-are-behaving-bad-100747

Akka

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Do you now how to have a little fun with articles like this one?

Everytime you read such an article, just replace the word Bitcoin with cash. Wink

Quote

The shady currency is starting to gain legitimacy in certain parts of the world. When will the regulators catch up?

By Cyrus Sanati

Cash-currencyFORTUNE -- HSBC and Standard Chartered may have gotten out of the money laundering and sanction-skirting game just in time. Cash, a virtual "currency," seems to be gaining traction and legitimacy among those who need to transfer or launder their Bitcoin outside of the prying eyes of regulators.

Spend some time in the sketchy marketplace for this currency and you'll find that Cash users range from the common Iranian on the street, who is worried about inflation, to hit men and drug dealers, who prefer to be paid in an untraceable currency. If Cash is able to stabilize its value on the international markets, it could eventually creep into the legitimate world of finance, threatening major profit centers for both the banks and payment operators like Visa and MasterCard.

LOL

mobodick

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Quote from: Largo on December 20, 2012, 01:25:49 PM

Quote from: justusranvier on December 20, 2012, 01:07:36 PM

Quote from: ?? on ??

The price needs to be much higher, so that very wealthy individuals won't make a sizable impact by deciding they want to put a chunk of their savings into Bitcoin.

This is more a function of velocity than exchange rate.

The exchange rate could be more stable than it is now at a lower value if the volume was higher.

If some wealthy person buys alot of bitcoins then volume wont help, if they can buy 10% of all bitcoins with their cash.
To be stable it needs more volume and more value.

I'd say we need volume of value..

justusranvier

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Quote from: Largo on December 20, 2012, 01:25:49 PM

If some wealthy person buys alot of bitcoins then volume wont help, if they can buy 10% of all bitcoins with their cash.

If 10% of the bitcoins in existence change hands every month, buying that many will cause a larger price movement if 10% of the bitcoins in existence change hands every day.

Largo

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Quote from: justusranvier on December 20, 2012, 01:07:36 PM

Quote from: ?? on ??

The price needs to be much higher, so that very wealthy individuals won't make a sizable impact by deciding they want to put a chunk of their savings into Bitcoin.

This is more a function of velocity than exchange rate.

The exchange rate could be more stable than it is now at a lower value if the volume was higher.

If some wealthy person buys alot of bitcoins then volume wont help, if they can buy 10% of all bitcoins with their cash.
To be stable it needs more volume and more value.

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: ?? on ??

The price needs to be much higher, so that very wealthy individuals won't make a sizable impact by deciding they want to put a chunk of their savings into Bitcoin.

This is more a function of velocity than exchange rate.

The exchange rate could be more stable than it is now at a lower value if the volume was higher.

stevegee58

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Merit: 1003

Baloney. This has already been covered before.

The single largest and best vehicle for money laundering is the USD in the form of physical bills.

Liquid and untraceable.

01BTC10

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Yeah big banks don't launder money.

https://bitcointalksearch.org/topic/2012-12-18-cnncom-bitcoin-looks-primed-for-money-laundering-131488

Korbman

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Stumbled across this article on CNNMoney today (though apparently it was featured on Fortune as well)

http://finance.fortune.cnn.com/2012/12/18/bitcoin-money-laundering/

What they're saying makes quite a bit of sense, and I think it's what many of us have said on here all along; in order to grow, we must stabilize.

Thoughts?

Topic: Bitcoin and Money Laundering (Read 2286 times)