Money laundering tools - page 15. | Bitcointalksearch.org

Kingjagat

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Quote from: Noelbetty12 on March 24, 2018, 06:54:28 PM

Yes it may be a form of a money laundering tool, but it doesn't mean you are doing money laundering all the time. Bitcoin is used also to send money or just pay for services online. But doing this you are not gaining profit. You are not doing money laundering. To consider it such a tool depends on the user's purpose.

I think let's look forward to how bitcoin contributes well to humanity, let's forget bad actions and bad things, and all we have to do is focus on good future life using bitcoin as a sharp tool for our future success that good.
In this business, different people have different opinions, when we say that bitcoin is a washing tool, it is also possible, because bitcoin can be used for some pusposes but it depends on the people about how they act and use bitcoin. Many different issues about bitcoin are used for any bad action, but there is no evidence to prove that is true.

Name: Claudio

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Pack your things and go plow land if you think how BTC was created. Why are you still here in doing bounty if you believe it So?

ronics

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In my opinion bitcoin is not a traditional currency both in a gold and a silver because it does not even have a user at a value so it is not a credit currency .it's basically just the first money laundering tool .the tool explained why make use of bitcoin prices are spreading across .the countries and abroad domestic are the money changing towards bitcoin and then physically transports for over the country exchange for a foreign currency escapes regulations and the cost of money laundering at low cost then risk at low really.

boboking

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Quote from: ganlianshifu1 on March 27, 2018, 07:06:59 AM

Gold, diamond also can become money laundering tool! It's not their fault!

It's just BTC, and the value attributes of gold and diamonds are like that!

People are used to buying gold and diamonds to keep their assets from depreciating!

I agree if you really have intentions to launder money Bitcoin and altcoin is one of the possible reason on how to launder money but also they can use other things as well as you mentioned precious metals and precious stones are also tools to launder money. Even some commodities can be use to launder money. There is no question that bitcoin is not a tool launder money but why do we need to isolate bitcoin.

The_Dark_Knight

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Quote from: yoseph on March 25, 2018, 11:02:11 AM

Quote from: mi56374100 on March 19, 2018, 11:01:14 AM

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.

That's why most governments are calling for regulations so that they can stop this crime going on and am sure that's why there has been the value price dropping . I believe that's when the money launderers starts to cash out their bitcoins. that's when the price starts to drop rapidly.

Governments are never going to be able to stop crime, that is just an illusion they are selling to people, and you may ask why they are doing that? And the reason is very simple if they keep selling the illusion they can stop crime then people will willingly give up their rights to them, this is exactly what we're seeing right now with more and more intrusive laws and yet all the crime is still there.

YzzyGo

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Bitcoin now leaves a digital trail due to exchanges. Bitcoin conversion to cash has been restricted and monitored in them. Although you can bypass that if you sell privately to an individual who can buy them off you for a discount, I don't think there'd be lots of people who would bite, amounting to millions of dollars.

ityandsyn

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Quote from: mi56374100 on March 19, 2018, 11:01:14 AM

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.

Well, that's your own opinion but I think you need to read more about BTC and altcoins. Regarding to money laundering tool speculation is not worth to call for bitcoin because fiat money is also applicable on that activity. People who have an ability of doing illegal was born before bitcoin era.
Since bitcoin has always an anonymous source, maybe they have seen an opportunity to use for money laundering.

ganlianshifu1

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Gold, diamond also can become money laundering tool! It's not their fault!

It's just BTC, and the value attributes of gold and diamonds are like that!

People are used to buying gold and diamonds to keep their assets from depreciating!

PatronRH

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I don't think bitcoin helps a lot with laundering money because that has a lot of fees and requires documents the perfect way to lauder money is to establish virtual businesses or non profitable ones and declaring that they make u gain a lot of money.

Cryptosymphony

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And what would be the difference between using bitcoins and banknotes or gold? With these you can't do money laundering? Come on, be serious ...

rainezerr

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Quote from: steveabrahams on March 26, 2018, 07:43:22 AM

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.

It was right that criminals and other corruptor is really using bitcoins as a money laundering tool but cryptocurrency and fiat are just the same in terms of transactions, but basically bitcoins is very helpful for the community because it can make peoples lives change in to better.

jaysabi

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Quote from: mi56374100 on March 19, 2018, 11:01:14 AM

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.

You cannot escape the traditional banking system in any meaningful way when dealing with large amounts of Bitcoin, so money laundering isn't going to be very effective. When you use an exchange to turn fiat into btc, there is a record because the exchange operates within the traditional banking system and complies with the current KYC and AML laws. When you exchange Bitcoin back to fiat, the same thing applies. For any exchanges currently not abiding by the laws, they will be driven out of business either by people refusing to do business with companies that break the law or by regulators shutting them down and criminal charges following those who refuse to comply. The risk for noncompliance is not low, and it is only going to continue to increase.

cryptoblue

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Criminals and anti-social elements can use bitcoin for their own benefit. So, it can be used for money-laundering. It's not the fault of bitcoin.

elkafee79

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Quote from: CHENIEN on March 19, 2018, 05:50:24 PM

In this business, different people has different opinion, when we say bitcoin is a laundering tools, well it can be also possible, because bitcoin can be used for multiple pusposes but it depends on the people on how the way they acts and used bitcoin. Many different issues about bitcoin used for any bad acts, but there is no evidences being prove that it's true. However, let us look forward on how bitcoin provide a good contributions to humanities, let's forget bad acts and bad things, and all we need to do are focus on the good future life by using bitcoin as a sharp tool to our good future success.

many people maybe say bitcoin money laundry tool, its posible. and several people say bitcoin is real investment. with crypto we can do anything and any opinion.

genocide

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You mean Bitcoin as a tool for money laundering? No, Bitcoin is designed to evade government entities. It is untraceable and highly-encrypted and not designed to be an instrument for the non sense transactions like money laundering. It has a unique characteristic such as scarce, durable, portable, divisible, easy to recognize, easy to store, fungible, hard to counterfeit, and widespread use, the reason why it is hard to be a tool for what so called money laundering.

hashshashin

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Quote from: martychubbs on March 19, 2018, 11:10:39 AM

For sure bitcoin its money laundering tool , a lot of scammers hackers carders and etc told BIG THX to satoshi that he did bitcoin , that all black money goes to crypto , because its very good for black money and this money in safe on this people , nobody could claim on it or ask it back from system holder.

You want to say that Satoshi created bitсoin for money laundering Huh

Why are you still at the forum, where all users, on the contrary, contribute to the development of bitcoin and its recognition.
I do not exclude that some people can use it in criminal spheres, but you can also use dollars for this. That's not the point ...

adi33

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Quote from: steveabrahams on March 26, 2018, 07:43:22 AM

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.

although as it is actually this bitcoin can be done in transaction tracking. many people who meggas for the regulation is the only aim to get data every person who has a wallet. and prevent money laundering

owlman

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Quote from: mi56374100 on March 19, 2018, 11:01:14 AM

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.

If you really think so, then it's hard for you to prove something. But I strongly disagree! If this were the case, and bitcoin is used only for money laundering, then countries such as Germany, Belarus, and some others, would not accept it as a means of payment. What can we say about the technology blockchain, which is being paid more attention for use in many areas of activity.

steveabrahams

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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.

warrior333

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Quote from: yoseph on March 25, 2018, 11:02:11 AM

Quote from: mi56374100 on March 19, 2018, 11:01:14 AM

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.

That's why most governments are calling for regulations so that they can stop this crime going on and am sure that's why there has been the value price dropping . I believe that's when the money launderers starts to cash out their bitcoins. that's when the price starts to drop rapidly.

Money laundering through bitcoins is tales that bankers come up with in order to have reason to demand restrictions on the use of bitcoins. In fact, banks themselves are the main tool for money laundering. It seems to me that bankers are most afraid of losing this way of earning.

Topic: Money laundering tools - page 15. (Read 2509 times)