Who need bitcoin to launder money when you have... - page 3.

hf

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there will be no fucking vegetables

Quote from: BCB on June 21, 2013, 08:13:02 AM

I had not...

Well, this one was issued in 1976. I'm not even sure bank still accept these.

Current 1'000CHF (= 1075USD, 816EUR) banknote is this one :

and it's pretty common around here. I got a waiter friend who's getting paid with one of these at the end of the month. People aren't suspicious about these in switzerland. I never heard of fake ones anyway.

It's funny when you think about it. First time I realized it was that much money was when an american friend of mine visited switzerland. He was really worried about his 5CHF coins, he feared to lose some, saying 5CHF is too much money for a coin. Which makes sense, since it's a coin worth more than 5USD, and swiss' smallest banknote is 10CHF.

Sukrim

legendary

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It's been around far longer than the Euro and the world did not go down in chaos either...

The only problem with using BTC for laundering money is that you will have a hard time buying and selling lots of them in a short timeframe. Being limited to less than 12 million units atm. doesn't help either...

Once there is depth in the market and moving a few millions of USD in or out is not causing complete crashes or doubling the current price AND if there are actually some places where you can trade and receive these amounts (good luck in getting any serious amount of money from MtGox) then it might be useful for laundering. Currently tax evasion might be slightly useful, but even then I guess the paper trail is still far too large and there would be probably more established and more useful ways to do this using traditional banks and currencies.

BCB

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BCJ

I had not...

Sukrim

legendary

Activity: 2618

Merit: 1007

You obviously never heard of the 1000 Swiss Francs bank note, eh? Roll Eyes

aigeezer

legendary

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Cryptanalyst castrated by his government, 1952

I just read a Coindesk newsletter on the same topic.

"As for the smaller fry, well, the biggest boost of late has been the 500-euro note. Nicknamed the “Bin Laden”, because everyone knows what they look like but nobody’s ever seen one, you can get ten thousand of them into a briefcase small enough that even Ryanair won’t charge you excess baggage. In comparison, BTC looks as wholesome as fifty pence in a church collection: another worry to be put firmly on the back burner."

"The authorities" look even more ponderous than usual in these articles. Their overall response to crimes they can't prevent is to inconvenience everyone everywhere as much as possible, "just in case".

BCB

vip

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BCJ

...the 500 EURO note - AKA the "Bin Laden"

http://www.bloomberg.com/news/2010-04-19/500-euro-bill-lifts-crime-terror-tax-risk-bank-of-italy-says.html

Topic: Who need bitcoin to launder money when you have... - page 3. (Read 4731 times)