Bitcoin Forum

http://panamapapers.sueddeutsche.de/articles/56febff0a1bb8d3c3495adf4/ (http://panamapapers.sueddeutsche.de/articles/56febff0a1bb8d3c3495adf4/)

https://panamapapers.icij.org/20160403-panama-papers-global-overview.html (https://panamapapers.icij.org/20160403-panama-papers-global-overview.html)

Giant Leak of Offshore Financial Records Exposes Global Array of Crime and Corruption  


Have fun reading this guys! ;)

yeah. And they say Bitcoin is used for money laundry. Now we find out that the Polititians who should have been giving the example are all a bunch of thieves...
The world is all upside down...

It is obvious that with positives comes some negatives...
This Bitcoin service is for good hands, but when it gets into the wrong hands, those people can too take advantage of it by doing such deeds which we are already talking about, here...

Hey man money laundering adds to the value too don't knock it till youve tried it :D

That's happening with every single currency. I don't know how many times we have to go through this same sing and dance claiming Bitcoin is the problem. Many people have found ways to stay anonymous occupying the US dollar and Canadian dollar. We still don't advocate against those currencies, do we? No, we do not. My point here is that money is money and with it comes great responsibility and noticing what is wrong to do with it, and what is right. Some do not care. Some just say as long as I'm making something, it doesn't matter whether it's positively contributing to society or not.

Bitcoin is not the problem. People are the problem. Until we find a way to change people, we're still gonna have Bitcoin abusers. It's as simple as that. Just accept it and move on. I don't want to see this topic ever again.

We have a list, now.

http://blog.chron.com/tubular/files/2014/01/the-governor-kill-them-all.gif

They have destroy the value of the money, the blood of every worker in the world.
They must be killed.

Could you change your misleading title, please?

THERE IS NOTHING ABOUT BITCOIN HERE.

This is about financial acts which date back to 1977!!! I invite the other posters to read the link and check the information before writing any silly comments. It's about Gaddafi, Mubarak and Putin, and all he great fascists leaders who care more about their personal wealth than their country.

Some people are hell bent to give bitcoin a bad name but much to their disappointment,bitcoin can and will survive all the bad vibes coming its way

The articles listed are pretty absurd. Any sort of currency can be used to launder not just bitcoin. It is just another slap in the face to try and get other countries to follow the madness of the other countries that have turned their backs on it like Russia and Venezuela for instance.
But just look how their systems are ~ Full of corruption by their political officials and especially by the ones who are arresting them but they are breaking the laws themselves by conducting larger crimes:
http://www.dailymail.co.uk/news/article-3521472/Venezuela-charges-Interpol-detective-smuggling-drugs.html

Bitcoin to Peso laundering phillipines is also involved in that news but i think its not all came from here ???

Right now it is pretty hard to move substantial funds into bitcoin without leaving a paper trail. The amount some of these guys need to move would be hard to set up localbitcoin meetups without potential robbings or scrutiny from the law.
Thats the interesting aspect of bitcoin,it does not work currently for big launders but the lower peons can shuffle decent amounts.
When larger amounts become more easy it will be fun to watch transfers going back and forth.

I think it is quite stupid to use bitcoin to do money laundry.

Firstly, the capacity is low, the market cap for bitcoin is still so small and the exchanges are only handling very tiny amount. Any big money in/out will cause the price to be unstable and definitely will make people suspicious.

Secondly, everything is recording in the ledger. Even if you can find the way to convert the millions of "dirty" money into bitcoin, and then convert them back to "clean" money, it is almost impossible to do this without leaving any trace behind to keep your identity anonymous.

the fact is the creators of bitcoin also used Panama

and they own this forum also, so now ur get ur connection

You missed the point entirely of the OP, sir... lol

Everyone who has been crying Bitcoin is used for money laundering is the biggest hypocrites themselves. Now if the global leaders were smart they would have been using Bitcoin to store their dirty money instead of setting up offshore companies and not trying to outlaw it in the first place  :D
The pot calling the kettle black it's so funny.

Yes they are crying because they dont do some research tp what and where they put their money. Many hypocrites and no soul people take the advantage to laundered more bitcoin by making hyips. And offer big returns and the investors get attracted to it becoz they want big returns but they dont knew they fallen in laundered scam.

I can vouch for this. I quickly read through both of the articles, and there is nothing related to Bitcoin in the articles. The author does not even mention a single word of the word 'Bitcoin' in neither of the articles.

It might not have a single reference to Bitcoin, but it shows politicians using the fiat system to launder use amounts of money all over the world. Everyone is pointing fingers to Bitcoin when money laundering happens, but political leaders use the fiat system to move their money, and they make the rules regarding Bitcoin.

People in glass houses, should not throw stones. ^hmmmm^

Bitcoin could definitely be used for money laundering, especially with the freely available mixers like bitcloak, shuffle-shuffle.io and bitmixer.io.

Some people said to me,dont believe any media.
its make sense,i dont think this article not true,but i just no wonder if bitcoin used for money laundering,its normal and not only used for this,so many illegal activity also used bitcoin,its all depending who behind that,people are free to use any payment to illegal activity,they all bad guy who dont know rules and dont care about bitcoin future.

Every technological advancements come with positive as well as negative side. No wonder, bitcoin is also used for money laundering.

But majority of the bitcoin users are general people like us those who have earned bitcoin using genuine ways. They should not be bothered.

Let the criminals do what they are best at and let the law take care of them.

Bitcoin is very convenient for money laundering because of anonimity and it's hard to trace the money. No wonder that is popular for taht reason too.

yes the criminals use any technique for money laundering which they find easy and safe for them.
The only thing which will prevent these activities will be the removing the feature of anonymity, i think after that it will be safe.

Right many criminals take the opportunity to laundered more hard earn money of many people . They make hyip site and offer big returns so they can attract more investors to invest and gather more money. And run and investors cant nothing do with it because of its animosity. So lets be carefull for our money.

That was my intention and the reason why I opened this thread.
I'm glad that at least a few here seem to understand this. :)

Well, if it like that. Then we can't blame Bitcoin for this kind of thing, the one who should be blamed is the people who use it for a bad thing (politician).

Although I am in big european country (hint: I maybe lieing about this) I am keeping all my savings in my PC in BTC, when I need them, I don't care if money laundering policies will catch me or not, and if they maybe can  , well when they will come for me, I will be long gone to some exotic island  :-*
The most beautiful part of Bitcoin savings is : The goverment doesn't know.

I'm relatively sure that btc is used for that.
Even in a much higher way than expected.

There are a lot of people that is indeed using Bitcoin for money laundering, they use it because you cant check what they bought with it and that is the bad thing of it.
And if Bitcoin is getting more popular than more people will also know that they can use it for money laundering.

Money laundering takes place through all possible methods. Bitcoin has been developed with a anonymous nature which helps in a better way for money laundering. So bitcoin is also used but we can't say bitcoin is the most used for illegal and money laundering activities.

And have nothing to add..........all right

That has always been a major setback for btc. How to keep btc from being used for criminal activities, it spoils its good name.

Don't think there is anything anyone can do about that though.

It is possible to used bitcoin in money laundering, because others can buy illegal things, drugs and etc. So this is the bad things about bitcoin many people thinks if you have a bitcoin account you have illegal doing, illegal transaction with others bad guys

so what? fiat is usually used for doing crimes too though no one complains too much about it, i think we shouldnt pay too much attention to it because it will have negative impact on bitcoin

No one cares about crimes with fiat, because banks and governments control fiat. So why would they hurt something that they use for stealing and cheating themselfs?

That. And please people, understand the topic before posting. LOL!

It seems like many just read the title and start posting.

I am waiting to see what will happen to these people (I am going with nothing and a movie will be made on it shortly), everyone knew that politicians, big business owners, etc. were always involved in these sort of things but it was always swept under the rug, why? because the rule appliers are also corrupt and receive their cut for keeping quiet.

As for the title of this thread, it is misleading or maybe OP was being sarcastic.

I don't think anything will happen to these people because they have so much money that they can bail themselves out and hire good lawyers to prolong the trials for years or decades if charged with money laundering or something. I think the worst that can happen to these politicians or business executives is to simply resign from their positions because of public pressure like that Iceland Prime Minister who stepped down after the Panama Papers revelation and his part in it.

Market cap and liquidity is too low to effectively launder large sums of money. I suspect it will be more of a problem as liquidity and market cap grows, but also at that time we might have better blockchain analysis which might scare people off.

If the Blockchain analysis tools improve, we will have a bigger problem. Bitcoin needs to be Pseudonymous to protect our basic financial privacy. You do not want everyone with the right tools browsing your spending habits and knowing how much money you have. This will make you a target for thiefs & hackers and all the bad characters, who will want some of your wealth.

Bitcoin gives you no more anonymity than cash, and this is still acceptable to the general public.