Topic: Money laundering tools - page 16. (Read 2488 times)
I think with the growing bitcoin in the big country is directly able to have a positive impact in the future because someone who rely on bitcoin is not too dizzy in do transaction so they are still able to use residual income to meeting the needs.
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.
Your vision is too narrow, of course bitcoin can be used as a tool to launder money but very few people are doing that with their bitcoin, most people investing in bitcoin are just law abiding citizens trying to obtain some profits out of their investments that is all, besides you can launder money with fiat, gold and silver and no one wants to forbid those currencies.Actually, namely paper money are the first to enable money laundering. We all know fiat money is really anonymous, whereas to track digital wallets is easier for federals. And digital transactions can be regulated, for example to control companies hiring immigrants and underpaying them.
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. 
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 really depends on how we use Bitcoin with our daily lives. Some peopke use it as an investment where the essence of being a currency is gone. Some use it for buying goods and as a payment method for services. Others use Bitcoin intentionally just to evade tax, wants privacy, money laundering or any illegal activities but thats is how it works for them. That is actually how lawless elements abused Bitcoin due to it's decentralized blockchain technology. I myself use it to buy prepaid loads and paying bills because it is too convenient than any other payment method.
It is true that bitcoin and other coins are used to launder a lot. It is not as valuable as gold or silver. However, USD or other currencies. it si not worth using, they differ only bitcoin at the point it is guaranteed by a government.
I do not think in that way. I mean if you look for laundering money BTC is not your answer definitely.
Instead go with other cryptos if your goal is that.
Surveillance system has been sharpening since its popular expansion so they actually can track you down when you cash it out. And even if you didn't there are a plenty option how to discover who is behind an andress.
BTC is not designed to be truly anonymous so you are totally wrong if you still think that.
Instead I suggest you the old way: stash the cash in something ( like a bank ) and get all the men you have with gun style mode ready to shoot
Instead go with other cryptos if your goal is that.
Surveillance system has been sharpening since its popular expansion so they actually can track you down when you cash it out. And even if you didn't there are a plenty option how to discover who is behind an andress.
BTC is not designed to be truly anonymous so you are totally wrong if you still think that.
Instead I suggest you the old way: stash the cash in something ( like a bank ) and get all the men you have with gun style mode ready to shoot
bitcoin as a money laundering tool, can be said so, because bitcoin makes it easier for corruptors to launder money from crime,they invest all their crimes into bitcoin,
Do not understand what you're talking about, Satoshi Nakamoto might never think like that he just wants to see bitcoin as a positive form for most people and very useful, no bitcoin characters depict like that, maybe you think too religious to ban everything that is in your mind, do not know what you think.
if this is true, maybe a very clever expert is aware of it.
if this is true, maybe a very clever expert is aware of it.
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.
Have you ever heard that its easier for investigate authorities to investigate bitcoin crimes? For me its not true,bitcoin is a good way to orginize our economic activities and not only economic,there,in this system are not only criminals,a lot of individual consumers,business firms and even goverment agencies participate in this process in order to achieve specific goals,So its not used only in economic affairs,bitcoin is a good tool for infrastructure,education and for other forms of human capital.please look at positive sides...the fact that one man is trying to launder money it doesn't mean something..
Bitcoin is a terrible tools for money laundering. Btc addresses don't have a name assigned. Credit cards companies does not have the list of all addresses they use.
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.
im not sure about that, in my opinion bitcoin is benefit investment for many people not for money laundry.
I find it very funny that there are many benefits of bitcoin and cryptocurrency that are giving life but people are constantly talking about some bad things created by bitcoin users themselves. If you do not use bitcoin for money laundering, money is laundered in other forms. Know how to use bitcoin for these beneficial purposes and stop judging about it because the decision to use it is how you decide.
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 seems impossible, but everything can happened. because bitcoin is safety and anonymous. so thats possible if some people think that bitcoin becomes money laundry. In my opinion its just a guess.
I don't know about this because turning Bitcoin into cash requires you to go through other companies, such as Coinbase. Say a drug dealer sells a million dollars worth of drugs, he can't just convert that into Bitcoins. Might as well stash it away.
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.
Your vision is too narrow, of course bitcoin can be used as a tool to launder money but very few people are doing that with their bitcoin, most people investing in bitcoin are just law abiding citizens trying to obtain some profits out of their investments that is all, besides you can launder money with fiat, gold and silver and no one wants to forbid those currencies. 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.
I really don't think they are struggling on getting to convert all of that money on BTC i Don't know some of the foreign country that does not support the KYC thing or atleast identify the users identity. Because in our country we have that before you can convert or withdraw you must have to take responsible for the withdrawal you are taking and if you are not carefull enough you might go to jail.
if I think BTC is an electronic money which is a lot of usability, for us who live in the modern era now is very important to have ease in new things, it appears BTC in the form of cryptocurrency that introduce new things in the world, simple easy in use, is not bound by tax / tax is very low, so the future is increasingly admired and in interest, for money laundering issues, I strongly disagree with this, even if anyone did that is only a small part of this user, and it is just a person, not the entire wearer
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.
If we think this way, churches, charity institutions, NGOs, hospitals, etc... Are all money laundering tools. People do this since a long time ago, Bitcoin doesn't give them any advantage they hadn't before. What I see is that BTC transactions are trackable and many criminals were already taken this way, what is good for Bitcoin's reputation and good for the law forces that are taking criminals in a smart way, not being necessary to affect negatively legit Crypto enthusiasts.
That's not true. Try to change bitcoin to Fiat. Maybe you know a secret way to change cryptocurrencies bypassing exchanges? All exchanges require documents and money will be very difficult to wash. The cost of exchanging via black exchangers is higher than you will pay a legal income tax. You can launder money through investments in legitimate business.
Very correctly said. In my country, if you have to invest even $10 in bitcoins, you will have to give KYC documents and get it verified in the exchange. Most of the common investors are using it as an investment medium. Some of the influential people however are using loopholes here also but it is no fault of bitcoins. We should try to catch these criminals instead of blaming the medium they are using.
Much more money laundering happens in a single day with FIAT money than it was ever "washed" using Bitcoin. Monero might be more susceptible to it with "anonymity" being its killer feature, but I don't see it even topping the usage statistics on Darknet.
I sincerely think that Blockchain can actually help in stopping the money laundering.
It can stop money laundering? I believe most of the people are using it to do the money laundering. The fact that whole currency works over the blockchain tech is what gives rise to the laundering stuff. I mean at least fiat can be tracked down by some means and then things can be assessed for suspicious activity. In case of bitcoin to whom you will blame and what proofs will you give? We dont generate invoices here with the legal status to them we just create the transaction ID's for them. Nothing makes sense here and using this nonsense most of the people are able to use it over darkweb and for things which are illegal in status.
For one - it's easy to track Bitcoin transactions. Fiat not so much, especially because banks can hide some, even from Government agencies, and if you have many of them in the chain.......
As second - I didn't say it does, I said it can. You could enforce rules into blockchain and smart contracts in the future that would prevent that from happening.
Jump to: