Money laundering via BTC - page 29. | Bitcointalksearch.org

bitkilo

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Quote from: btcdiggingmaster on January 23, 2017, 01:23:14 AM

Quote from: South Park on January 22, 2017, 12:07:34 PM

Quote from: Pattart on January 19, 2017, 07:05:02 PM

Quote from: iwandhdumas2003 on January 19, 2017, 07:38:46 AM

Very simple stuff. Create business, build business, accept btc and buy your own service with your own btc. Pay the small amount of tax and you have clean money. One simple method of hundreds or thousands out there.

Lol it looks like you've experienced to eliminate the traces after carrying out illegal activities. indeed with bitcoin you can do the laundering of money, so that you will avoid taxes or else

It is not that easy, someone that look at the blockchain will see all the transactions come from the very same address and will realize that either someone is buying your service over and over again or you are the one doing it.

See every time the person will not send through the same address he has the ability to change it different address in order to do multiple transaction, how can people will identify if he keep on changing multiple address means, these thing should be take care so that we can control money laundering through bitcoin.

It wouldn't be too hard to trace those bitcoins from the first address to the last with all in between, remember that all the transaction take place on an public ledger.
They can use mixers along the way and that would help a little but if you are talking big money then no mixer can handle it.

And what sort of "control" are you talking about, government laws and regulations? No way man, if they want to catch tax cheats then they will just have to find another way.

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Quote from: diegz on January 23, 2017, 02:11:07 AM

Actually if someone wants to hide their money they should use bitcoin, but the big question there is how much amount of money the bitcoin can handle. I really do think that if a wealthy man from the government wants to use bitcoin, I think we need more bitcoin so we could accommodate and welcome those corrupt officials?

Did anyone hear about people using Bitcoin to bribe some guy in the government (or elsewhere)?

Is it safe to grease the wheels this way? If no one got caught so far, does it mean that no one actually tried to use bitcoins for exactly this purpose or does it mean that it is just a perfect tool for passing the money under the table to someone and no one can be caught at all. Really, how can such bribes can be traced? After all, you can always back off and claim that this is not your Bitcoin address, and you hear about Bitcoin for the first time in your whole life at that

When bribery enters through the door, faith goes out through the chimney

morantis

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Quote from: Mr. Big on January 23, 2017, 03:17:35 AM

Quote from: Theb on January 23, 2017, 03:08:59 AM

Quote from: Mr. Big on January 23, 2017, 02:35:42 AM

Quote from: Farma on January 23, 2017, 02:27:14 AM

I guess money laundering by bitcoin has often done. This is done so that the transaction can not be, or difficult to be tracked by several parties. even if its own transaction has been designed to not be detected, but, with some sites mixers, it makes the transaction is completely unknown, and this is one of the advantages of bitcoin.

Everyone can do money laundering thru bitcoin, but for sure, only small time people... But I have a doubt on how will you enter your money to bitcoin if it is big amount, for sure you will use a bank account, and by that, the government already have an idea on what you did with your money... They won't go long after that, for sure they will do a back track from that bank and before...

I don't think so. Creating several wallet addresses together with combining small deposits won't make your laundering obvious. Also Coinbase accounts can make you create new wallet addresses in one account. So what you have is 1 account with multiple addresses which will make tracking and transparency hard for the government. Anything can be avoided provided that you give proper precautions to it.

Nope, actually the act was already been done when you say that you can launder money using bitcoin and that you transfer it from one of your wallet address to another, that's effective I know, but what I am talking about is the government has already traced you when you deposit your money to banks before you could transfer it to bitcoin, that's enough evidence for you to be liable and the government will start at that point and backwards...

and then what will happen.........remember i quoted the law, a neat thing to base legal discussions on....i would stay awake and listen to you guys spout off non-facts some more, but at least the morning will be entertaining to read....so, please, in light of the factual law that has been stated in this thread, what will happen next?

Mr. Big

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Quote from: Theb on January 23, 2017, 03:08:59 AM

Quote from: Mr. Big on January 23, 2017, 02:35:42 AM

Quote from: Farma on January 23, 2017, 02:27:14 AM

I guess money laundering by bitcoin has often done. This is done so that the transaction can not be, or difficult to be tracked by several parties. even if its own transaction has been designed to not be detected, but, with some sites mixers, it makes the transaction is completely unknown, and this is one of the advantages of bitcoin.

Everyone can do money laundering thru bitcoin, but for sure, only small time people... But I have a doubt on how will you enter your money to bitcoin if it is big amount, for sure you will use a bank account, and by that, the government already have an idea on what you did with your money... They won't go long after that, for sure they will do a back track from that bank and before...

I don't think so. Creating several wallet addresses together with combining small deposits won't make your laundering obvious. Also Coinbase accounts can make you create new wallet addresses in one account. So what you have is 1 account with multiple addresses which will make tracking and transparency hard for the government. Anything can be avoided provided that you give proper precautions to it.

Nope, actually the act was already been done when you say that you can launder money using bitcoin and that you transfer it from one of your wallet address to another, that's effective I know, but what I am talking about is the government has already traced you when you deposit your money to banks before you could transfer it to bitcoin, that's enough evidence for you to be liable and the government will start at that point and backwards...

Theb

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Quote from: Mr. Big on January 23, 2017, 02:35:42 AM

Quote from: Farma on January 23, 2017, 02:27:14 AM

I guess money laundering by bitcoin has often done. This is done so that the transaction can not be, or difficult to be tracked by several parties. even if its own transaction has been designed to not be detected, but, with some sites mixers, it makes the transaction is completely unknown, and this is one of the advantages of bitcoin.

Everyone can do money laundering thru bitcoin, but for sure, only small time people... But I have a doubt on how will you enter your money to bitcoin if it is big amount, for sure you will use a bank account, and by that, the government already have an idea on what you did with your money... They won't go long after that, for sure they will do a back track from that bank and before...

I don't think so. Creating several wallet addresses together with combining small deposits won't make your laundering obvious. Also Coinbase accounts can make you create new wallet addresses in one account. So what you have is 1 account with multiple addresses which will make tracking and transparency hard for the government. Anything can be avoided provided that you give proper precautions to it.

Mr. Big

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While my guitar gently weeps!!!

Quote from: Farma on January 23, 2017, 02:27:14 AM

I guess money laundering by bitcoin has often done. This is done so that the transaction can not be, or difficult to be tracked by several parties. even if its own transaction has been designed to not be detected, but, with some sites mixers, it makes the transaction is completely unknown, and this is one of the advantages of bitcoin.

Everyone can do money laundering thru bitcoin, but for sure, only small time people... But I have a doubt on how will you enter your money to bitcoin if it is big amount, for sure you will use a bank account, and by that, the government already have an idea on what you did with your money... They won't go long after that, for sure they will do a back track from that bank and before...

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I guess money laundering by bitcoin has often done. This is done so that the transaction can not be, or difficult to be tracked by several parties. even if its own transaction has been designed to not be detected, but, with some sites mixers, it makes the transaction is completely unknown, and this is one of the advantages of bitcoin.

diegz

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Quote from: Senja Kemuning on January 23, 2017, 02:02:18 AM

I think people will not be interested in using bitcoin for money laundering, it is because they know that there is a great risk and there is no country that admits it.

Isn't that an advantage? No one is claiming bitcoin so when you put your money in it, it's like your money fly somewhere else.

Actually if someone wants to hide their money they should use bitcoin, but the big question there is how much amount of money the bitcoin can handle. I really do think that if a wealthy man from the government wants to use bitcoin, I think we need more bitcoin so we could accommodate and welcome those corrupt officials? Cheesy

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I think people will not be interested in using bitcoin for money laundering, it is because they know that there is a great risk and there is no country that admits it.

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Quote from: ajaxmoor on January 23, 2017, 01:18:06 AM

Quote from: danherbias07 on January 22, 2017, 11:05:19 PM

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

That is not only what bitcoin laundering is. It involves having money in any form on which tax has not been paid on. If someone is holding or trading their bitcoins , but have never declared the source, then they are money laundering as well.

a lot of people have done this to avoid tax yupp ,
there is no harm to do that actually since there always a difference point of view about tax ,
some people think that tax are not necessary to be done by government ,
btw there a lot of people do money laundering on giftcard too .

morantis

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Quote from: chixka000 on January 23, 2017, 01:43:02 AM

Quote from: morantis on January 23, 2017, 01:19:21 AM

Quote from: chixka000 on January 23, 2017, 01:16:19 AM

Quote from: danherbias07 on January 22, 2017, 11:05:19 PM

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

There are actually a lot of factors that a certain act can be considered as money laundering

Lets put it simple for you. If your act is not acceptable by law and it involves money then you are already doing it

what laws are you basing your reply on? they seem to be a lot different than the US Statutes that I posted yesterday.

Oh sorry for that, anyways to clarify you right those are a lot different because i was actually referring to laws of your country(so obviously means that it is different from others) and as well as a rule of your god

well, yeah, i actually looked at the location of the OP too, figured that might have been the location they were referring to and not some other country that they may magically get transported to

chixka000

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Quote from: morantis on January 23, 2017, 01:19:21 AM

Quote from: chixka000 on January 23, 2017, 01:16:19 AM

Quote from: danherbias07 on January 22, 2017, 11:05:19 PM

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

There are actually a lot of factors that a certain act can be considered as money laundering

Lets put it simple for you. If your act is not acceptable by law and it involves money then you are already doing it

what laws are you basing your reply on? they seem to be a lot different than the US Statutes that I posted yesterday.

Oh sorry for that, anyways to clarify you right those are a lot different because i was actually referring to laws of your country(so obviously means that it is different from others) and as well as a rule of your god

btcdiggingmaster

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Quote from: South Park on January 22, 2017, 12:07:34 PM

Quote from: Pattart on January 19, 2017, 07:05:02 PM

Quote from: iwandhdumas2003 on January 19, 2017, 07:38:46 AM

Very simple stuff. Create business, build business, accept btc and buy your own service with your own btc. Pay the small amount of tax and you have clean money. One simple method of hundreds or thousands out there.

Lol it looks like you've experienced to eliminate the traces after carrying out illegal activities. indeed with bitcoin you can do the laundering of money, so that you will avoid taxes or else

It is not that easy, someone that look at the blockchain will see all the transactions come from the very same address and will realize that either someone is buying your service over and over again or you are the one doing it.

See every time the person will not send through the same address he has the ability to change it different address in order to do multiple transaction, how can people will identify if he keep on changing multiple address means, these thing should be take care so that we can control money laundering through bitcoin.

morantis

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Quote from: chixka000 on January 23, 2017, 01:16:19 AM

Quote from: danherbias07 on January 22, 2017, 11:05:19 PM

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

There are actually a lot of factors that a certain act can be considered as money laundering

Lets put it simple for you. If your act is not acceptable by law and it involves money then you are already doing it

what laws are you basing your reply on? they seem to be a lot different than the US Statutes that I posted yesterday.

ajaxmoor

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Quote from: danherbias07 on January 22, 2017, 11:05:19 PM

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

That is not only what bitcoin laundering is. It involves having money in any form on which tax has not been paid on. If someone is holding or trading their bitcoins , but have never declared the source, then they are money laundering as well.

chixka000

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Activity: 910

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Quote from: danherbias07 on January 22, 2017, 11:05:19 PM

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

There are actually a lot of factors that a certain act can be considered as money laundering

Lets put it simple for you. If your act is not acceptable by law and it involves money then you are already doing it

danherbias07

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Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

morantis

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Quote from: Botnake on January 22, 2017, 10:11:49 PM

Quote from: jovs on January 22, 2017, 08:41:39 PM

Quote from: shamzblueworld on January 09, 2017, 12:11:50 AM

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Money laundering is possible using bitcoin since it was used anonymously. It can be laundered through gambling site, and trading site. However, even in the fiat momey, money laundering is easy to do. It is difficult to be caught since it was made with many transaction and it is hard to trace where the money went unless you spend much focus on it. Bitcoin makes money laundering since it is hassle free. That's the reason why bitcoin is used as mode of money in black market. There os nothing to stop in money laundering, even the government can't stop it.

Anything that counts as money can be use in Money Laundering, it's an illegal activities and therefore punishable by law. It's easy to launder if you are using bitcoin but don't expect you will not be caught if they work on you.

It's not good to create crime here since the system of bitcoin is very transparent and you will be trace if they look unto details of your account. Everything will end up in exchange sites, they will just have to impose it to supply them necessary information that would lead to your possible arrest.

why does no one read anything on a thread before posting.....i CLEARLY passed along the exact tone and measure of the LAW and people just keep posting with opinions and guesswork that is for the most part in direct opposition to the laws that i quoted

Botnake

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Quote from: jovs on January 22, 2017, 08:41:39 PM

Quote from: shamzblueworld on January 09, 2017, 12:11:50 AM

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Money laundering is possible using bitcoin since it was used anonymously. It can be laundered through gambling site, and trading site. However, even in the fiat momey, money laundering is easy to do. It is difficult to be caught since it was made with many transaction and it is hard to trace where the money went unless you spend much focus on it. Bitcoin makes money laundering since it is hassle free. That's the reason why bitcoin is used as mode of money in black market. There os nothing to stop in money laundering, even the government can't stop it.

Anything that counts as money can be use in Money Laundering, it's an illegal activities and therefore punishable by law. It's easy to launder if you are using bitcoin but don't expect you will not be caught if they work on you.

It's not good to create crime here since the system of bitcoin is very transparent and you will be trace if they look unto details of your account. Everything will end up in exchange sites, they will just have to impose it to supply them necessary information that would lead to your possible arrest.

Topic: Money laundering via BTC - page 29. (Read 39389 times)