Topic: Money laundering tools - page 4. (Read 2509 times)
Bitcoin is a digital currency just like the physical money, now if i am to ask, physical money what use value does it have other than exchange of goods and services? the same is with bitcoin, bitcoin is use to exchange foe goods and services just like the physical money, physical money is used for money laundry the same is with bitcoin, I think the more people start to see the good sides of bitcoin, the more it will go main stream other than criticism bitcoin.
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, Crypto can be a tool to be used to money laundering but it is not a money laundering but a thing that people can be used to do some illegal activities. Crypto is a decentralized transactions and we are anonymous here so it can really used to do some not so good transactions to hidden there identity. Its sad to hear that people did not used it properly.
if crypto becomes a money laundering activity then many will be caught and go to prison easily. when domestic money is spent on bitcoin or crypto and then goes into foreign exchange, the blockchain will record on the ledger and there has been a purchase transaction of a certain value and then sold to the exchange. everyone can read bitcoin transactions in the Exploler block and this will be strong evidence in court
maybe your opinion can also be stated correctly if bitcoin is used as a money laundering tool, because bitcoin is anonymous, meaning that every transaction of the identity is very confidential, this can be used as a money laundering tool, but in some exchanges it is equipped with KYC for each member so the exchange can find out who just do the transaction
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.
actually what is the use of btc back to each individual, where you can use it for the things you mentioned above, or use it to better things, such as investing, trading, or making it as a digital currency, because it is indeed a btc its very anonymous nature causes there are some people who use it for money laundering, and in my opinion because this is also the government there are still many who do strict regulations on BTC
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.
Bitcoin has many different uses and it serves a variety of purposes. Of course, big criminals must make use of this technology to thrive. That is something we can not avoid. I always wait for the SEC's involvement, I hope the SEC will clarify things to make the market better. 
Bitcoin is not enough as a money laundering tool. because bitcoin is not able to spend in cash. need to convert to dollars. this requires a registration. laundering money should be legal. establish new companies and make them through. or transfer to a team of bribes.
Bitcoin have features to be untraceable but do not mean it is fully anonymous and indeed this features is good for money laundering tools but to utilize this features i think depend on the people themself that bitcoin could be good in the hand of good person but bitcoin could be bad if use for bad things but for money laundering tools instead of bitcoin people can use another things and i think we have to stopped blame bitcoin
I am from a country where money laundering is the norms for politicians from the time of military government to this period of democracy. The people involved in money laundering don't need bitcoin to carryout their act. There are so many ways of doing that without being caught.
just as it has become the habit of money loundry carried out by politicians for personal gain. if in my country, with an anonymous nature, it is feared to give space for them if legalized now, without any preventive action
I am from a country where money laundering is the norms for politicians from the time of military government to this period of democracy. The people involved in money laundering don't need bitcoin to carryout their act. There are so many ways of doing that without being caught.
I think that was the problem before. But now, we have KYCs and such that protects it's citizens and crypto currency from money laundering. But then again, there is always a way around it. The main security is the local wallet where you can't buy in a huge amount without personal verification. It still appears transparent.
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.
Indeed. Bitcoin for others is a tool for money laundering. They use it in able to get the money of some people they wanted to. They scam people by means of bitcoin tha is why most gpvernment still studying it carefully whether they will legalize it or not. However, bitcoin is not only that. It can be useful to everyone just make it or use it in correct situation.
this is why every country is very careful to legalize the crypto currency. because it is very vulnerable to money laundering by some irresponsible people. thus making the crypto currency always get a negative response and intense debate in every country because of the risk of fraud, money laundering and terrorism funding is very possible to be financed using crypto currency.
yes, bitcoin can be laundry tool. none know if someone laundring their bad money than convert to bitcoin.
this is problem, but now many security implemented by people that work in here. and for me kyc is one of the other way to know who is person that make transaction in blockchain
this is problem, but now many security implemented by people that work in here. and for me kyc is one of the other way to know who is person that make transaction in blockchain
yes of course this bitcoin can be used as a money laundering tool and that is what makes bitcoin dangerous because money is in bitcoin and cryptocurrency can be cleared without a trace, but everything can be recorded on the system and blcokchain.
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 not true, since bitcoin and other cryptocurrencies are based on the blockchain technology, that is decentralizes and anonymous transaction, not all users are considered as laundering money, if we are to choose to cover our money anonymously, that is our right, it is our money, if it ought to be used for money laundering, still the persons who are involved in that act can be identified, before we can convert it to fiats, there are crucial requirements of exchanges for their clients that wishes to use their exchanges, they follow the law on KYC, bitcoin has more deep application to further make us earn from its opportunities to offer, not just money laundering.
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.
At this time btc is considered a kind of money laundering tool and deals with low cost but I think in the future if more people use btc then it will become an official currency that will be more who accepts as well as use to trade officially without cash exchange anymore that is only part of the negative side of using bitcoin, actually bitcoin has more positive side too, and one more thing bitcoin transactions use pseudonyms, not anonymous. So crime should be used using bitcoin can be tracked because there is user data.
There are a lot of companies started with the sole purpose of laundering money, I bet there is more money laundered that way than there is in all of crypto.
that is only part of the negative side of using bitcoin, actually bitcoin has more positive side too, and one more thing bitcoin transactions use pseudonyms, not anonymous. So crime should be used using bitcoin can be tracked because there is user data.
There are a lot of companies started with the sole purpose of laundering money, I bet there is more money laundered that way than there is in all of crypto.
that is only part of the negative side of using bitcoin, actually bitcoin has more positive side too, and one more thing bitcoin transactions use pseudonyms, not anonymous. So crime should be used using bitcoin can be tracked because there is user data.
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