Topic: Money laundering (Read 591 times)
If you convert your bitcoin/altcoins into Monero and other similar coins, then it makes the process a lot simpler. But as with every intention and new upgrade to technology, you will always have the good and the bad. Ying and yang, sometimes the good needs the darkness in order to see the day of light.
Are blockchain-based transactions easy for money laundering?
The birth of cryptocurrencies is intended to protect the security and anonymity of transactions, but it has, to some extent, met the demand for funds transfer for such activities as crimes and money laundering. Technology is recognized but the methods and practices used are not Control, which led many countries to prohibit the flow of bitcoin and other transactions
Are blockchain-based transactions easy for money laundering?
There are many stories on the web. BTC shares an anonymous transfer can be used for this. It is sad. There will always be people to use good things in a bad way.Bitcoin Money Laundering is, in my opinion, one of the more telling things to do unless bitcoin is a real alternative to existing currency, otherwise the money laundering process will always be the dollar-bitcoin-dollar process-that is, always Need to enter the banking system now strict money-laundering regulation to pervert, and bitcoin all online delivery, will leave full marks In contrast, art money laundering more reliable than bitcoin, faster, revenue is also Higher, so even if someone used money laundering, I believe it is a very small number.
Lol, dont even get into that, you will get caught out in the end. I am self employed and I declare every penny I make Its just not worth trying to launder money
I recommend not laundering money as well, always be legal guys. But you must consider this too:
When governments make bitcoin illegal (and they will sooner or later) they will ask people to deposit their bitcoins on the government's hands, just like they asked for people to put gold into the government's hands in 1933.
The difference is gold does not have a blockchain, but bitcoin has, so if you declared your bitcoin, you are already on the list of "person that owns bitcoin" so you will be the first to get a letter by the government asking you to give them all of your btc. Consider that.
Exactly. There will probably be one day in which you will be allowed to have a wallet only if it is associated to you personally. Since majority of the people will comply, all the others will be discovered because of the transparency of the blockchain history of transactions.
Lol, dont even get into that, you will get caught out in the end. I am self employed and I declare every penny I make Its just not worth trying to launder money
You declare every bitcoin transaction you do? I wouldn't do that. And it's not illegal. The government can say its own currency is or is not illegal, but bitcoin? It doesn't belong to any country in a specific way.
Are blockchain-based transactions easy for money laundering?
Off course not.Sure you have a lot of money laundering in the Bitcoin business, but you have it in every second thing in the world.
can not be denied that bitcoin is the most powerful weapon for money laundering. because of the pseudo-anonymous bitcoin properties. making it difficult for the government to track the movement of money and know the ownership of money. what else bitcoin until now can not be in taxes because of anonymous. this is what makes the government afraid of bitcoin. a very good technology but can be used for crime.
Are blockchain-based transactions easy for money laundering?
Don't get me wrong. If you are asking here to use the blockchain to launder money, then it's up to you but don't regret when you got caught. Money laundering is illegal, if you know it.
But if you are asking here the other way around, then yes it can be. As we know, the blockchain is a perfect tool for illicit activities because the transaction processed in the blockchain is completely anonymous.
Are blockchain-based transactions easy for money laundering?
It's really easy actually, that's why many banks started to consider crypto trading as being money laundering and they close the accounts of the holders.
Truly when you are a learned bookkeeper, it is far less demanding to launder cash utilizing old fiat based strategies than digital currency.
The overall population feels that digital money is some sort of heavenly chalice creation which will permit all sort of new illegal tax avoidance plans.
This isn't altogether valid, there are much more unrivaled tax evasion outlines as of now imagined.
The overall population feels that digital money is some sort of heavenly chalice creation which will permit all sort of new illegal tax avoidance plans.
This isn't altogether valid, there are much more unrivaled tax evasion outlines as of now imagined.
Yes,it is because it can be anonymous which is why the Korean government today announced that accounts on exchanges must be link to a real bank account.
Maybe it's not so easy but it's convenient and it's easier to hide the traces and the origin of funds comparedto fiat money. Investigations techniques are mor complex for cryptocurrencies and that is why criminals like to use them for money laundering. But still I don't think taht we can talk about such large sums like when fiat currencies are involved.
I think illegal things don't last for long so no one should consider bitcoin as money laundering. Always be legal no matter how needy you are
easy or not it all depends on each individual bro, because not everyone is smart to spin their money so it is not detected and if I do it myself yes just happy because it was used to do it
In case someone would be interested, lets say that you bought ether at a exchange, so it is easily traceable and the gov can check you had it. How would you make it "dissapear"? That is, not laundering but avoiding all tax?
Are blockchain-based transactions easy for money laundering?
Criminals might be using cryptocurrency to practice money laundering since it's pseudo-anonymous it's true that it helps alot.That's a cause why governements start banning cryptocurrency.Although I think with cryptocurrency or without it there will always be money laundering so it's just a waste to ban cryptocurrency ( not even talking about the fact they can't really ban it since they can't proove that you own it)
But that directly goes up for gold as well, and other assets of physical nature. Gold can be bought from whatever source, and after that melted into whatever number of bars that at that point can't be linked to a certain source anymore. It's less convenient than something as crypto currencies, but it offers a far better form of overall anonymity.
who the hell is capable of melting down their gold, though? that definitely sounds like something i would need to outsource. there are privacy mechanisms available to the bitcoin ecosystem to maintain similar levels of anonymity (mixing/coinjoin, TOR, VPN, etc), but it's possible that these mechanisms may be broken by attackers (like governments).
the biggest problem is that typical users take no care of their privacy. they freely reuse addresses, link wallet addresses, deposit to services without generating new addresses, they don't spoof their IP address, they don't use fake names and email addresses to deal with payment processors and merchants. that makes them low-hanging fruit. don't be low-hanging fruit.
So, ultimately we have to conclude that gold offers a better way of money laundering if we discard the convenience aspect. I think that those who are looking for anonymity will definitely discard convenience for more anonymity whenever they can.
it depends on the level of inconvenience (or perhaps rather the cost). one thing to consider here is that while gold has a very liquid market, KYC is relevant in the gold market as well. anytime i've ever sold gold pieces to a dealer, i've had to provide my ID.
the alternative is to deal P2P. i'll bet you the market for P2P cryptocurrency trading is bigger than for gold, even this early in the game, because cryptocurrency can be traded globally on the interwebz....
I can happen because I think the banks can’t determine where the money came from and thats the other reason why some country are banning bitcoin in their place.
These are the possible reason's why some certain country banned bitcoins, and as we all know, it is decentralized and nobody has the ability to control its flow , aside from that, people in the forum stands anonymous, so it means it is hard to track down their identity,
Governments will always focus on money laundering. But it is important to remember that Bitcoin and other cryptocurrencies have so many legitimate uses that it is unfair to lump them all together and label everything "money laundering."
Yes. Because of this block chain technology people can easily put their money and no one can trace i. This is one reason why governments are afraid of legalizing bitcoin or adopting it in the economy because there is really a risk that corrupt officials or people with a bad intention used block chain technology for illegal activities that can never be prevented nor detected.
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