Topic: Bitcoin used to do money laundering - will it become a huge problem? - page 2. (Read 5862 times)
February 18, 2016, 10:24:05 AM
^^Or the Chinese government, you know, just banning BTC & nationalizing the mines... That's what, like, 75% of hashpower, right?
February 18, 2016, 10:14:01 AM
i dont think so, fiat is used for bad things either but all people use it and it is not a problem
Fiat is not a problem, because government and banks control fiat. They can print it at will, they can borrow what they dont have it, the can control its inflation, etc. So fiat is good for them.
Banks and governments cant control Bitcoin. So they fight with it, and the simplest way is to scare ppl that cryptocurrencies are only used for illegal things, etc.
Yeha so they will either try to control btc either ban it.
What if governments suddenly launches thousands of miners? ^^
February 17, 2016, 04:45:49 PM
i dont think so, fiat is used for bad things either but all people use it and it is not a problem
Fiat is not a problem, because government and banks control fiat. They can print it at will, they can borrow what they dont have it, the can control its inflation, etc. So fiat is good for them.
Banks and governments cant control Bitcoin. So they fight with it, and the simplest way is to scare ppl that cryptocurrencies are only used for illegal things, etc.
February 17, 2016, 03:40:47 PM
i dont think so, fiat is used for bad things either but all people use it and it is not a problem
February 17, 2016, 03:09:07 PM
The problem is mostly the negative publicity associated with it IMO.. It's just an excuse for the media to talk bad about it because they are scared of it..
The people who swallow this "negative publicity" BS are mostly ignorant regular joes who largely hold no value.
Let the media talk, people with large pockets looking for a secure way to hide their wealth might notice and figure out there might be something for them in Bitcoin
Spot on! This is what i'm hoping for
February 17, 2016, 02:11:38 PM
... I think every one should play our rule to make sure it that bitcoin never be used for money laundering. ...
>against money laundering
>promotes a mixer
February 17, 2016, 02:07:24 PM
No it won't be a problem for the bitcoin, every currency is used for money laundering.
So it would not be a problem for the bitcoin the future, its only a little percentage that do it.
So it would not be a problem for the bitcoin the future, its only a little percentage that do it.
February 17, 2016, 02:04:03 PM
Nice name btw - are you suggesting 69Mb blocks? 
February 17, 2016, 01:53:26 PM
Whats your thought on this?
For a lot of criminals Bitcoins are the perfect tool to launder money or not? Almost no trace but still they have to explain how they got the money once they convert it back into dollars....
Will this become (or already is) a problem? I'm thinking that the anonymity will be a problem for a lot of governments once BTC becomes a well know payment method.
no, it will not have any 6 bad impacts on bitcoin, as it is been linked with muc6h bad things like silk road, ransom and much more. Due to which I think that bitcoin have gained much attraction. For a lot of criminals Bitcoins are the perfect tool to launder money or not? Almost no trace but still they have to explain how they got the money once they convert it back into dollars....
Will this become (or already is) a problem? I'm thinking that the anonymity will be a problem for a lot of governments once BTC becomes a well know payment method.
February 17, 2016, 01:49:48 PM
Money laundering with bitcoin will not be a big problem even in future for growth of bitcoin industry. I think every one should play our rule to make sure it that bitcoin never be used for money laundering. I believe government will take necessary steps as money laundering is older than bitcoin. Bitcoin is not responsible for this in any way.
Yeah but to end btc laundering you would have to control it in a way or another! So if they do btc will have much less advantage suddenly :-/
February 17, 2016, 01:41:23 PM
Money laundering with bitcoin will not be a big problem even in future for growth of bitcoin industry. I think every one should play our rule to make sure it that bitcoin never be used for money laundering. I believe government will take necessary steps as money laundering is older than bitcoin. Bitcoin is not responsible for this in any way.
February 17, 2016, 01:29:48 PM
Money is a tool.Bitcoin is money.You can use the money to buy poison or nectar.It doesn't makes bitcoin bad if it is put to bad use just like you dont stop using fiat despite a it is also used to buy weapons etc
Yes, it depends on the minds of people not on the type of currency that cases of money laundering occur. There are some people who are mentally good they use safe and legal ways to earn their lives and the people with dull minds use illegal ways to earn according to them they are short cuts. February 17, 2016, 01:27:03 PM
Why "used"?
I mean clearly money laundering is still an important part of btc! It will always be! Why are you implying it's no longer the case?
I mean clearly money laundering is still an important part of btc! It will always be! Why are you implying it's no longer the case?
February 17, 2016, 12:42:04 PM
It is a real problem. Many people do it and that is not so good. Everyone must see bitcoin as fun and extra.
I like to make a little bit money with Bitcoin, and I have a daily job. I see Bitcoin as a bonus.
I like to make a little bit money with Bitcoin, and I have a daily job. I see Bitcoin as a bonus.
February 17, 2016, 11:43:53 AM
Just set up a Bitcoin gambling site to launder the money.
Nice name btw - are you suggesting 69Mb blocks?
Nice name btw - are you suggesting 69Mb blocks?
February 17, 2016, 11:37:24 AM
Cash is seldom used to launder money, because cash seldom *needs* to be laundered. No one *ever* checks the serial #s on the 10 & 20s I spend.
I think some people are getting confused. From wiki:
Money laundering is the process of transforming the proceeds of crime into ostensibly legitimate money or other assets
So, money laundering is done to hide the ORIGIN of profits because they're coming from illegal activities. Of course cash has to be laundered sometimes - if somebody made $million$ selling drugs, they probably hope to put it in a bank so they don't get robbed, and they can spend it without looking too suspicious.
Of course there are probably plenty of criminals with suitcases full of cash out there as well.
Bitcoin could be used to launder money - likely by paying for non-existent goods and services to obscure the source of illegal profits.
February 17, 2016, 08:42:17 AM
My question is why if cash is used to launder money no one says anything while if BTC is used for it it becomes a problem?
Money has always been laundered so it should surprise that any mean which gives that possibility is used for it.
Money has always been laundered so it should surprise that any mean which gives that possibility is used for it.
Dear Karartma1:
Cash is seldom used to launder money, because cash seldom *needs* to be laundered. No one *ever* checks the serial #s on the 10 & 20s I spend. Ever.
One of the few cases where cash would have to be laundered is if it was stolen in a circa 70s bank robbery, and a die pack went off.
The point of laundering money is to make money you made by selling shitty crank & kiddy porn appear legitimate.
And that's where bitcoin comes in.
So now you know
February 17, 2016, 08:26:37 AM
People have always laundered money. I don't think it'll be the first time, or stop with bitcoin. One way or another money laundering will remain here.
February 17, 2016, 08:21:53 AM
I don't think bitcoin in general is good for money laundry at least without using a mixer, the bitcoins will always be linked to there origin and therefore should not be clean in anyway, even mixers are not the best option to clean them since these too are mostly unclean coins.
February 17, 2016, 04:11:36 AM
Money is laundered with bitcoins and with all kind of money, this is one problem difficult to solve. You can use prepaid phone cards, amazon cards, or dollar notes to launder your money. Its a problem that existed before bitcoin.
You are right we should not have to blame bitcoin for money laundering, as it is a problem which is existed from long ago, and the people involved in money laundering are inventing different methods to use the money for crimes, we all should have to work to stop them, and should not have to blame any currency or transaction method for it. Jump to: