Money laundering tools - page 12. | Bitcointalksearch.org

coinplus

legendary

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Quote from: Elkafi on May 09, 2018, 09:17:48 AM

Quote from: mi56374100 on March 19, 2018, 12:01:14 PM

In my opinion, BTC is not a traditional currency like gold and silver because it does not have any use value, so it is not a credit currency. It's basically just one use, money laundering tool. The tool explains why bitcoin prices are spread across the country and abroad. Domestic money is changed into bitcoins and then physical transportation to overseas exchange for foreign currency escapes regulation and the cost of money laundering is lower than before, and the risk is low.

It is possible, but money laundring can happen in every where. Bitcoin is secure and pseudo anonymous. Your identify cannt be tracked.

Almost those who keep saying a lot about bitcoin involvement with criminal issues obviously do not have any idea on the pseudo anonymity of bitcoin. Even if I want to decide to use a mixing service, this does not mean crime perpetrators have not been finding ways to always hide their transactions and clean their money in the first place. Tagging bitcoin as the main source of criminal issues globally is just an absurd way to think for those who are in that category of dumb thoughts.

cahbagus555

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Quote from: mi56374100 on March 19, 2018, 12:01:14 PM

In my opinion, BTC is not a traditional currency like gold and silver because it does not have any use value, so it is not a credit currency. It's basically just one use, money laundering tool. The tool explains why bitcoin prices are spread across the country and abroad. Domestic money is changed into bitcoins and then physical transportation to overseas exchange for foreign currency escapes regulation and the cost of money laundering is lower than before, and the risk is low.

I think, money laundering can be done not only with bitcoin, many tools peoples use for money laundering. Before bitcoin exist, there is no money laundering?. Its about perspective and i think we bitcoin is nothing to do with money laundering. Bitcoin created because we want make transaction peer 2 peers

yusupjatigumilar

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Yes bitcoin can be a money laundering tool, because after we buy bitcoin there is no name we listed there is only a wallet address and private key in the form of an encrypted character, so no one can know the identity of the owner of the wallet

dongbat03

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Quote from: mi56374100 on March 19, 2018, 12:01:14 PM

In my opinion, BTC is not a traditional currency like gold and silver because it does not have any use value, so it is not a credit currency. It's basically just one use, money laundering tool. The tool explains why bitcoin prices are spread across the country and abroad. Domestic money is changed into bitcoins and then physical transportation to overseas exchange for foreign currency escapes regulation and the cost of money laundering is lower than before, and the risk is low.

Yes Agree bitcoin can be used also in money laundering by buying their money in bitcoin and they easily exchange it in any currency that accept bitcoin.

bizarro

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I heard that big guys called a whales are manioulating bitcoin and other currencies prices for earning even more profit!

broilsemla0

newbie

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I didnt get your post really, either i am weak in English or dont wanna learn it.

Whoducen

newbie

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I think btcs has immense importance in everyday life. It has made our daily life easier than before.

futuret

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Quote from: gezhid008 on May 10, 2018, 03:32:14 AM

BTC all valid transactions in the network are permanent, block chain network, as long as happened, network exists, the long before as clear evidence, so BTC is not suitable for money laundering and crime.

If BTC was suitable for money laundering according to your theory, I believe you still would have discouraged the idea of misusing it anyway. Bitcoin rather no currency was created to be used for harming people anyway. BTC provides anonymity and I won’t deny the fact that it is being used in crimes but BTC is not supposed to be blamed for what others do. Bitcoin is just an amazing currency which if used properly can generate huge profits.

stely41

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Quote from: BitcoinMarketer39 on May 11, 2018, 11:05:39 AM

Quote from: mi56374100 on March 19, 2018, 12:01:14 PM

In my opinion, BTC is not a traditional currency like gold and silver because it does not have any use value, so it is not a credit currency. It's basically just one use, money laundering tool. The tool explains why bitcoin prices are spread across the country and abroad. Domestic money is changed into bitcoins and then physical transportation to overseas exchange for foreign currency escapes regulation and the cost of money laundering is lower than before, and the risk is low.

We can consider that cryptocurrency is one of the money laundering tool today but it was used in a good way because people today can buy things in an online store using cryptocurrency like on amazon.

Elliptic is the global leader in detecting and investigating cybercrime involving cryptocurrencies.Enable companies handling bitcoin to meet their anti-money laundering obligations, by allowing them to confidently perform AML transaction screening.

BitcoinMarketer39

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ADABsSsSsSsSSSsS

Quote from: mi56374100 on March 19, 2018, 12:01:14 PM

In my opinion, BTC is not a traditional currency like gold and silver because it does not have any use value, so it is not a credit currency. It's basically just one use, money laundering tool. The tool explains why bitcoin prices are spread across the country and abroad. Domestic money is changed into bitcoins and then physical transportation to overseas exchange for foreign currency escapes regulation and the cost of money laundering is lower than before, and the risk is low.

We can consider that cryptocurrency is one of the money laundering tool today but it was used in a good way because people today can buy things in an online store using cryptocurrency like on amazon.

callingbubblyH

newbie

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The world needs money laundering tools like btcs, as i appreciate it a lot!

wanimulyo

newbie

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Quote from: mi56374100 on March 19, 2018, 12:01:14 PM

In my opinion, BTC is not a traditional currency like gold and silver because it does not have any use value, so it is not a credit currency. It's basically just one use, money laundering tool. The tool explains why bitcoin prices are spread across the country and abroad. Domestic money is changed into bitcoins and then physical transportation to overseas exchange for foreign currency escapes regulation and the cost of money laundering is lower than before, and the risk is low.

No, I am not agree, I think bitcoin is not a money laundering tool, only those who abuse bitcoin feel bitcoin as money launderers. Instead I think bitcoin is a crypto currency exchange tool to fiat currency. it is my opinion.

yulionoo

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bitcoin or the other crypto can be launder's tool. because if you do it, no one can detect the fund belong to? and the person can generate or create new wallet multiple times.
but it can be anticipate, like the exchanger ask the kyc for those people who join in there and they prohibit to use transaction outside of exchanger.

aleksei_chizhov

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Quote from: mi56374100 on March 19, 2018, 12:01:14 PM

In my opinion, BTC is not a traditional currency like gold and silver because it does not have any use value, so it is not a credit currency. It's basically just one use, money laundering tool. The tool explains why bitcoin prices are spread across the country and abroad. Domestic money is changed into bitcoins and then physical transportation to overseas exchange for foreign currency escapes regulation and the cost of money laundering is lower than before, and the risk is low.

Some countries have serious economic problems. And prices rise every day in them. People in this countries have the issue of saving their money. They want exchange their national currency for U.S. dollars or euros. But sometimes the Government prohibit it. Or there are some reasons why people can't do it.

For example, Venezuela's monetary policy had hyperinflated the national currency, the bolivar, to near-worthlessness, citizens were looking for a way to store value in the traditionally stable, but difficult to access, U.S. dollar. Venezuelans have started using cryptocurrencies to address the problem.

Elmughni

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Quote from: mi56374100 on March 19, 2018, 12:01:14 PM

In my opinion, BTC is not a traditional currency like gold and silver because it does not have any use value, so it is not a credit currency. It's basically just one use, money laundering tool. The tool explains why bitcoin prices are spread across the country and abroad. Domestic money is changed into bitcoins and then physical transportation to overseas exchange for foreign currency escapes regulation and the cost of money laundering is lower than before, and the risk is low.

It is possible, The bitcoin ia secure and easy. Bitcoin avoids taxes, it is anonymous plus the fact that many naive people are looking to invest, its a wonderful laundering tool.

Kevin77

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Quote from: vonnyaries on May 09, 2018, 06:59:52 AM

this is the one reason why bad guys use bitcoin, they want to use this as tools that money laundring, or maybe they can use this to makes inflation in a country, we hope that its not happen because if its happen i think bitcoin will banned by some country in the world

Does that mean bad guys have not existed before now? Bitcoin is a payment tool; same as USD, gold, diamond, name them !
These are tools basically any criminal can use and have been using even before bitcoin became rampant in terms of usage.

There is actually no reasonable basis on how a lot of people just keep coming with the idea of bitcoin is a problem since it is going to be used for criminal activities like those activities were not even there in the first place. They should grow up and think of other better ways they can curb those activities than pushing the blames on bitcoin.

ArteMixer

newbie

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Completely agree with your point, Bitcoin avoids taxes, it is anonymous plus the fact that many naive people are looking to invest, its a wonderful laundering tool.

stolik1997

newbie

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You probably miss the actual meaning of "laundering". An opportunuty to transfer money abroad is not laundering. Laundering is more about convincing your tax officer that you aren't a tax cheater, and BTC won't help you to explain cash inflows.

richmcrich

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I don’t really know for you guys, even if it’s a money laundering tool, I can assure you that not everyone that are into this business are into it with the intention of practicing money laundering.

Some of us who are into this are here for a real business and not to participate crimes or whatsoever you may call it. There are some people who got into Bitcoin just to be able to earn money and help their family just like I did.

I did everything but none of them were helpful so I had no other option than to go for Bitcoin which was what I did and now I’m earning a lot of money, and I’m able to take care of my family and even have enough to save. I never expected to earn up to what I’m earning now.

Coinredd

full member

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Well sadly yes, criminal or coruptor using the money and buy bitcoin for money laundry. I'm sure at least 1 person already do that out there but i think people already smart nowdays and police are know about bitcoin and can detect it if the suspect caught using bitcoin or have a bitcoin wallet.

Topic: Money laundering tools - page 12. (Read 2488 times)