Topic: Money laundering tools - page 2. (Read 2509 times)
actually the technology owned by bitcoin has been very difficult to do money laundering because all transactions that have all been recorded clearly even the recipient and sender are clearly visible so for bitcoin it is very difficult to do money laundering.
If bitcoin is being used for illegal transactions then it is possible. For me, it is because bitcoin is used anonymity. But let us just hope that it will not used by illegal transactions.
You can't stop someone's desire, everyone is free to do what they want, including using bitcoin. Everyone just looks at a technology, especially bitcoin, from the negative side, they forget the positive aspects of using bitcoin. Regarding the government which prohibits bitcoin because it is used as money loundring, I guess they are hypocrites. Corruption is an act that must be destroyed but they only try to stop corruption like a policeman who tries to steal a thief using a sports car but the police only chase him with a rickshaw. The government can make a strict law for corruptors, such as giving the death penalty for all those who are corrupt and it's a good solution rather than accusing a currency that can be used as a place for money loundering.
That is true, it can be some people transaction like that from black market or either illegitimate market, some project have no need for kyc although, some people have their ability to mitigate financial crime risk.and as far as you laundering your money in the legitimate market has a record to present.
in my opinion crypto currency can be used and used anywhere and anyone who is good or bad depends on the intention and purpose of the investor itself so until now the crypto currency can be used for money laundering though
this happened because there was indeed a gap to make money lound, but government should take preventive measures so that this would not happen, for future technological advances 
in my opinion crypto currency can be used and used anywhere and anyone who is good or bad depends on the intention and purpose of the investor itself so until now the crypto currency can be used for money laundering though
it looks like bitcoin and other cryptocurrency can be a money laundering tool because in some countries the rules for using cryptocurrency are not too clear and when assets are sent to cryptocurrency wallets, there can be money laundering.
in my country, in the past, government said that people should not use bitcoin because it dont have any regulation. and bitcoin susceptible to be money laundry. thats why in some country enforced fill kyc. we know that we are not loss something, but sometimes government will loss thing.
so, just use bitcoin as good as you can. and its back to ourself
so, just use bitcoin as good as you can. and its back to ourself
Well i think that is why KYCs are used today to prevent such occurrences to happen to us. Well, in our local wallets, there are limits to withdrawals and to increase that you need to pass verification tests and authentications. I think this is what developers should look into and beef it up security wise.
no matter how hard your efforts to do money laundering in blockchain technology will be easy to know because all the blockchain technology transactions record all transactions in your wallet. therefore the government in several countries prohibits this technology from being used in their country.
I use it as a regular money in paying things online like a fiat that most people use before but now online currency is just like a fiat. And I think I don't agree with your opinion that it is a one use currency that a person can only use, Bitcoin has so many use in the human living.
I also don't agree with the opinion that Bitcoin is a money laundering tool. maybe there are some people who use Bitcoin for something like that but the function of Bitcoin is actually not so, so we can't call Bitcoin a money laundering tool. I personally see Bitcoin as the future money. 
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 to me that you have limited thinking and you know very little about Bitcoin and its blockchain technology. There are a lot of discussions on this topic and everyone has their own opinion, but personally I think that money can be laundered in absolutely different ways and people did it before creating Bitcoin.
I use it as a regular money in paying things online like a fiat that most people use before but now online currency is just like a fiat. And I think I don't agree with your opinion that it is a one use currency that a person can only use, Bitcoin has so many use in the human living.
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 to me that you have limited thinking and you know very little about Bitcoin and its blockchain technology. There are a lot of discussions on this topic and everyone has their own opinion, but personally I think that money can be laundered in absolutely different ways and people did it before creating Bitcoin. 
Bitcoin and any other cryptocurrency can sure be used as a money laundering tool, especially if the person holding the cryptocurrency is a money launderer, but the use of cryptocurrency depends on its holder, if you wanna use it as a tool for evil things then its up to you and you alone, but if you dont have that kind of mind set like most of the people around here then its up to you as well.
But before the invention of bitcoin we don't have any tool for money laundering?So it depends on the users who is using the new technology for wrong things but even money laundering can be stopped if everyone starts to use crypto as the primary currency.
Bitcoin is famous for its anonymity and decentralization so criminal take advantage of this and use bitcoin for money laundering, i think this is what we can not stop. But i don't think btc is only used for money laundering tools, it also used for payment and transaction. there are so many benefits of bitcoin, it is not only used for crime.
Money laundering tools are not terrible. The scary thing is that some people use the reasons here to clarify the future of cryptocurrencies. In fact, cryptocurrencies are great. Money laundering is only a small part. I admit that it has shortcomings now. But can't stop its future.
Bitcoin and any other cryptocurrency can sure be used as a money laundering tool, especially if the person holding the cryptocurrency is a money launderer, but the use of cryptocurrency depends on its holder, if you wanna use it as a tool for evil things then its up to you and you alone, but if you dont have that kind of mind set like most of the people around here then its up to you as well.
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.
If by black exchnages you mean buying from people who are willing to take cash exchnage of fiat, i am not completely sure but i dont hink that they are asking for more than income tax is in most ocuntries: 20-25 % .
I speculate that the scheme - pay taxes from btc, which could be defined as capital gains is the loundering, isnt it?
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.
You made a good point here. Bitcoin can't be converted easily to fiat money without going to verification process which is a requirement to users. However, that can be easily resolved by those people who want to get away with illegal activities. They can use dummy or withdraw little by little without trace.
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.
Can we really say they silver and gold is a currency or traditional currency? Where you can pay your bills with these metals?
As far as ik now it is very hard to do ,possibly in gold fiels of Klondaike. Nowadays gold and silver is traded a lot with financial instruments not physcially this means that there is a room of how real is the cover of physcil metal over the digital holders.
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 works very well as store of value and for international payments, so i dont agree with you, in general 
since we all know that some loundering is happening anyways. Jump to: