Fact: There is no anything like money laundering but governments want to buy BTC - page 2.

semobo

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Quote from: DashingAgent on June 30, 2021, 02:14:14 PM

When there are bank statements then how money laundering is possible via bitcoin? You pay fiat to buy bitcoin, you don't pay bitcoin to buy bitcoin. If governments want to stop money laundering then they must abolished the fiat currency.

Quote from: semobo on June 30, 2021, 02:03:53 PM

By the way, @OP do you know what is money laundering?

Any earnings which are not reported to government so you are not paying taxes is called black money and people who are converting black money into white in different ways is called money laundering so money laundering can be done by anyone and the medium of asset is different in all the cases.

What if someone uses his bitcoin to buy gold or get physical cash where there is no involvement of a bank? Literally, money laundering is unstoppable no matter how many strict regulations the governments are having unless they allow the evaders to accept their mistake and give the least amount as a penalty for their mistake done by them in the past.

DashingAgent

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So many books, so little time

When there are bank statements then how money laundering is possible via bitcoin? You pay fiat to buy bitcoin, you don't pay bitcoin to buy bitcoin. If governments want to stop money laundering then they must abolished the fiat currency.

Quote from: semobo on June 30, 2021, 02:03:53 PM

By the way, @OP do you know what is money laundering?

Any earnings which are not reported to government so you are not paying taxes is called black money and people who are converting black money into white in different ways is called money laundering so money laundering can be done by anyone and the medium of asset is different in all the cases.

semobo

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Activity: 1498

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By the way, @OP do you know what is money laundering?

Any earnings which are not reported to government so you are not paying taxes is called black money and people who are converting black money into white in different ways is called money laundering so money laundering can be done by anyone and the medium of asset is different in all the cases.

Slow death

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Leading Crypto Sports Betting & Casino Platform

Money laundering has been around for many years before there was even bitcoin, of course now with cryptocurrencies it could be that the lives of many people who are passionate about money laundering are made much easier. Governments despite many of them being corrupt and thieves and the first money launderers, need to follow the laws and persecute people who launder money. imagine you want to sell drugs? you can sell and receive payments in cryptocurrencies and then withdraw it to your bank account as if the money came from a legal business, this is the problem governments are having headaches to deal with

Fesatmas

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if the government reverses the fact that the government wants to buy BTC then where do they store the BTC? in their cold wallet? if yes then at least we found the bitcoin address pointing to them? indeed at this time, the government is hostile to BTC very clearly where it will result in money laundering multiplied, look at the supply of fiat money circulating in a country where they use their fiat currency benchmark to avoid big inflation.
the result is that if on the pretext of not money laundering, then we do not have strong sources to accuse the government of buying large amounts of Bitcoin.

dkbit98

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You saying there is no money laundering does not make it a fact, and you need to show some evidence for your claims, but I guess people today may believe anything they hear or read before checking for themselves.
Money laundering was not invented with Bitcoin, but it exist for ages and everyone knows that most of the money is washed in certain banks and offshore in some countries.
It sure does exist in Bitcoin also but why would anyone do that when Bitcoin is public ledger any everything will be recorded forever on blockchain.

stompix

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Hmm, this is weird if the government controls everything and they have all the data on those bank accounts, how is money laundering even possible in the first place? You're making the mistake of believing that money laundering refers to something like completely making that money disappear but in reality, it's more about just obfuscating the sources and making the end person look legit.

Quote from: Tytanowy Janusz on June 30, 2021, 08:37:40 AM

2- You can easily show fake loss or fake profit using BTC and many crypto exchanges. So if you are able to go one way from dirty money into BTC ... its super easy to show that you earned them via trading or other activities (like creating nice NFT).

If I were in the US, this is the one I would avoid, those exchanges are reporting a lot of data to the authorities so they will probably link all my activities pretty fast, for large sums of money for a single individual I will most likely flee the country rather than trying some schemes. But when there is a large organization that has enough members with enough fake identities distributed around the country yeah, definitely possible.

As for the ATM, there is an even better idea:
Run, your own! Put a 10% fee and just have somebody continuously buy and sell coins, the profit you make is totally legit, and if you're smart and not an idiot trying to bribe police officers I'm sure they won't be able to track you with anything.

DarkIT

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Quote from: DashingAgent on June 30, 2021, 04:58:53 AM

Fact: There is no anything like money laundering but governments want to buy BTC

The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.

Only if any government legally announced the holding of the bitcoin, untill then we can't know it. Almost it's not a transparency one. Because then, it will created some criticism. Some government in the world will not made legal of bitcoin. Surely it will ask the holding government about the holding.

Tytanowy Janusz

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Quote from: DashingAgent on June 30, 2021, 04:58:53 AM

then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist?

1- You dont need bank account to withdraw BTC to cash. Many ATMs all around Europe let you withdraw/deposit up to 10k euro without KYC (in single swap).
2- You can easily show fake loss or fake profit using BTC and many crypto exchanges. So if you are able to go one way from dirty money into BTC ... its super easy to show that you earned them via trading or other activities (like creating nice NFT).
3- you can buy/sell via P2P using vendors that accept cash
4- you can buy bank account on darknet and use it for crime. You cannot transer this money to your bank account but you can buy crypto using it and use crypto to lose tracks.

“If an elderly but distinguished scientist says that something is possible, he is almost certainly right; but if he says that it is impossible, he is very probably wrong.”

If you dont know how people can use crypto for money laundering it does not mean that it is impossible and government is lying. Maybe just you are not informed enough.

jossiel

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Give us source so we can believe if this is an actual fact. We're all speculating that governments want to buy bitcoin at a very cheap rate. But we cannot show proof that they really are.

What if the government you're talking about is against bitcoin and they've banned it? you didn't even specify which government you're describing.

mindrust

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Quote from: DashingAgent on June 30, 2021, 04:58:53 AM

Fact: There is no anything like money laundering but governments want to buy BTC

The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.

How is this a fact if it cannot verified by any fact checkers?

Can you show us a link to twitter, facebook or reuters where we can verify this fact?

Otherwise I cannot accept your argument as a fact. Sorry.

DashingAgent

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So many books, so little time

Fact: There is no anything like money laundering but governments want to buy BTC

The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.

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