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Title: Could a Labrador sniff out Bitcoins? Post by: Cluster2k on August 13, 2012, 06:10:18 AM Seems like an ideal, if legally questionable, use for Bitcoins.
http://www.smh.com.au/world/nose-for-money--labradors-hone-in-on-hidden-fortunes-20120813-244at.html Police cracking down on tax dodgers smuggling cash out of Italy in their shoes, underwear and even cigarettes have announced a steep increase in seizures, thanks in part to the use of labradors trained to sniff out bank notes. In the first seven months of 2012, police at ports, airports and border crossings seized 41 million euros ($47 million) - up 78 per cent year on year - from travellers trying to avoid creeping austerity taxes in Italy. Title: Re: Could a Labrador sniff out Bitcoins? Post by: ArticMine on August 13, 2012, 08:28:06 PM Dogs are not going to sniff out the Bitcoins but blockchain analysis combined with more traditional methods such as disgruntled former spouses, employees, partners, clients etc should do the trick for the tax auditors.
Title: Re: Could a Labrador sniff out Bitcoins? Post by: n8rwJeTt8TrrLKPa55eU on August 13, 2012, 10:25:07 PM The currency border control trend is not just taking place in Europe, but also South America and USA:
Argentina's Dollar-Sniffing Dogs http://www.businessweek.com/magazine/argentinas-dollarsniffing-dogs-01122012.html TSA Searches For Large Sums Of Cash http://boardingarea.com/blogs/flyingwithfish/2011/03/28/tsa-searches-for-large-sums-of-cash-why-its-wrong/ http://www.aviationattorneys.com/legal-advice/arrested-for-large-amount-cash-on-airplane This trend will generate massive demand for Bitcoin, IMHO. Billions (trillions?) in accumulated wealth worldwide, wanting to become anonymous and mobile as economies crash and governments become more authoritarian. If you knew there was a risk of your currency devaluing by 50% overnight, or a draconian wealth tax being introduced, how much would you pay to convert your assets to Bitcoin? Fear is the most powerful motivator of all...I predict that at some point, the entire ask side of the MtGox orderbook will get taken out, but this time it won't be due to a software glitch, it will be some Greek shipping magnate yelling to one of their lackeys "SELL THE PICASSO. PUT THE PROCEEDS INTO BITCOINS. NOW. AT ANY PRICE". |