Bitcoin Forum

You do not speak for the nation. 

...it's so entertaining to watch you fail.

Thank you for not polluting our community with your presence. Know this: We, a bunch of nerds, could do your job almost effortlessly.  The only reason we don't is because we are not parasites and because it's so entertaining to watch you fail.

if i was a druglord douchebag i prolly wouldn't need bitcoin.

You may have been able to buy drugs there at one time... but I'm pretty sure the drug dealers have moved on by now. You've gotta be a moron to buy drugs from a website that's nationally known.

The real drug lords don't need Bitcoin because they get large financial institutions like Wachovia to launder money for them and nobody goes to jail when they get caught.

Don't forget the ATF/DEA/FBI also sells them grenade launchers.

You realize drug lords do more than provide drugs?


They kill people.
They're territorial.
They are corrupt.
They are not trustworthy.
They don't care about you.

They make the area they're in pretty damn miserable.

Other douchenozzles include those who take advantage of the drug laws to defraud their customers with low quality shit.

Just to be clear: I think all drugs should be legalized. My contempt is for the Drug lord's incompetence.  Bitcoin would be an almost ideal tool in the drug trade, but the criminals are too stupid to use it.  

I now am reading this thread completely differently.  Sounds like a bad situation happened, yet you are happy about some outcome of this situation.  Was there something specific that motivated you to start this thread?

Nothing specific. I don't take drugs or deal in them. I was witness (hearing, not seeing) a drug-related double homicide down the street. I hope you never have to push your children to the floor when the machine guns go off outside the window. It's not fun. Needless to say I moved out of Juarez soon after that.

You probably would. Properly used, it enables a 100% anonymous payment method for customers with internet access.

Why do you think silkroad dealers prefer BTC?

Incompetence is not the word for it, I'm sure it takes brains as well as ruthlessness to stay on top when your competitors are trying to kill you. Also, how is Bitcoin an ideal tool for the drug trade in its current form, compared to say high value bills or perhaps gold? The exchange rates are all over the place and it's not especially liquid in large quantities.

If I am selling you an eighth of weed, I can be reasonably sure that at the time of transaction, I can exchange your 5 btc for for that day's rate of $10/btc, and at worst I am out $50 if value plummets.

If I am selling you ten pounds, the odds that I will be able to liquidate $30,000USD worth of bitcoin without affecting market values is pretty slim, not to mention that a normal day's volatility may cost me $10,000. Fuck that. There is no incentive to use BTC for big transactions.

Asset forfeiture will cost you 100%, even if they find no drugs.  Conventional money laundering will cost you ~40%.  $30K is not much. You need at least $10K just to get into the dark pools.

LOL @ SILK ROAD!

those noobs aren't druglords.

that site is shit. and soon to be gone.

How do you intend to shut down a site over TOR?

Are you fucking joking? You watched some breaking bad and are now the expert in laundering cash?

An LLC in California costs $800 a year. If you are laundering your money at 40%, you're doing it wrong...though on the other hand, I guess you could be doing it HUUUUGE, in which case I doubt you'd be on here bragging about it.

How do you intend to shut down a site over TOR?

Please, enlighten us with your money laundering strategy. What do you do after the $800 incorporation?

all it takes is staged buyers. but fortunately for silk road's sake it's too small and amateur to interest anyone with an agenda.

Run a service industry, write off overhead, pay your taxes if you aren't clever enough to avoid it, and keep good books.

But c'mon, that's child's play. Anyone with an illegitimate revenue stream owns a service of some sort. Tell us about this 'dark pool' you've been using.

I'm sure law enforcement & the DEA didn't think that idea up, at least after a few senators called for the site to be 'shut down'.
http://www.reuters.com/article/2011/06/08/us-financial-bitcoins-idUSTRE7573T320110608

What good can undercover ops do when all drops are made via mail using prepaid 'postage paid' envelopes?

Simply put: It's impossible to trace them. The origin of those letters can't be determined in any possible way. They are vacuum packed as well so dogs wont know what's inside either.

I'm sure law enforcement & the DEA didn't think that idea up, at least after a few senators called for the site to be 'shut down'.
http://www.reuters.com/article/2011/06/08/us-financial-bitcoins-idUSTRE7573T320110608

What good can undercover ops do when all drops are made via mail using prepaid 'postage paid' envelopes?

Simply put: It's impossible to trace them. The origin of those letters can't be determined in any possible way. They are vacuum packed as well so dogs wont know what's inside either.

You realize governments do more than provide drug lords guns?


They kill people.
They're territorial.
They are corrupt.
They are not trustworthy.
They don't care about you.

They make the area they're in pretty damn miserable.

governments go into debt.
drug dealers go into profit.

Do you see the gang warfare in Colorado and California between medical marijuana facilities?

so much fail here...

dogs can smell through that shit, dood....

anyway, im done with this special olympian thread.

You realize drug lords do more than provide drugs?


They kill people.
They're territorial.
They are corrupt.
They are not trustworthy.
They don't care about you.

They make the area they're in pretty damn miserable.

so much fail here...

dogs can smell through that shit, dood....

anyway, im done with this special olympian thread.

Cartels laundered $378 billion through Wachovia banks:

http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs


I'd love to see the OP's step-by-step primer on how to launder nearly 400 billion dollars through Bitcoins on the Magic the Gathering Online eXchange.

You realize drug lords do more than provide drugs?


They kill people.
They're territorial.
They are corrupt.
They are not trustworthy.
They don't care about you.

They make the area they're in pretty damn miserable.

I love drugs

it's only been out for 2 years; The dollar has existed for hundreds of years)

Dear Drug Lord Douche Bags:

Isn't in funny when your payments get intercepted by law enforcement? Isn't it hilarious when your own couriers abscond with your cash? It must be difficult to guard all your loot- I mean after all there is only so much cash you can stuff up your ass in a condom.

You can build submarines, but you're too stupid to understand Bitcoin.  Hiding, storing and transferring money discretely and securely apparently is beyond your capabilities. You must be much more skilled at manufacturing poison and chopping off heads. 

Thank you for not polluting our community with your presence. Know this: We, a bunch of nerds, could do your job almost effortlessly.  The only reason we don't is because we are not parasites and because it's so entertaining to watch you fail.

Sincerely,
Bitcoin Nation

that could be the most stupid display of what bitcoin is able to do. even to a crowd that we (certaintly not i) dont want to attract .
fun facts.. "drug lord douche bags" can hire/rent/"own" a "nerd" to do their work if they needed to.
i really do not understand what was on your mind when you started this post..

I don't think the Bitcoin economy is anywhere near large enough to sustain serious money laundering. Any operation worth considering would end up being many times the size of the rest of the economy. That's not what you want if you're looking to launder money.

all it takes is staged buyers. but fortunately for silk road's sake it's too small and amateur to interest anyone with an agenda.

like i said - it's a shit site. with shitty overpriced drugs.

Overpriced? I disagree. Maybe the street drugs are, but the benzo's (Xanax, Valium) are about the same as I was paying from a "street pharmacist" that was giving me deals cuz he's been a friend of mine since before he started selling 'em...

http://townhall.com/columnists/walterewilliams/2011/04/27/smugglers_as_heroes
http://media.townhall.com/Townhall/ColPics/columnistsWilliams.gif

Smugglers are heroes of sorts. The essence of what a smuggler offers is: "Government tyrants want to either prevent or interfere with peaceable voluntary exchange among individuals. I can reduce the impact of that interference." Let's look at smuggling, keeping in mind that not everything illegal is immoral and not everything legal is moral.  

Leading up to our War of Independence, the British, under the Navigation Acts, had levied taxes on a wide range of imports. One of those taxes was on molasses imported from non-British islands. John Hancock, whose flamboyant signature graces our Declaration of Independence, had a thriving business smuggling an estimated 1.5 million gallons of molasses a year. His smuggling practices financed much of the resistance to British authority. In fact, a joke of the time was "Sam Adams writes the letters (to newspapers) and John Hancock pays the postage."

Hancock's smuggling, as well as that of many others, made the people of our nation better off by providing cheaper prices for molasses used for making rum. British oppressors were worse off by having lower tax revenues.

In 1920, the 18th Amendment, prohibiting the production, distribution and sale of alcoholic beverages in the United States, went into effect. It had wide public support. In my opinion, no case can be made for stopping another person from enjoying beer, wine and whiskey. That's oppression, but along came heroes to the rescue. The ink hadn't dried on the 18th Amendment before smugglers started smuggling beer and whiskey from Canada and Mexico. Ships lined up along our shores, just beyond the three-mile limit, to off-load whiskey onto speedboats. Smugglers and bootleggers spared millions of Americans from do-gooder oppression.

While the smuggler qua smuggler is my hero, several important negative effects surround his activity. Smuggling is illegal. It becomes a sometimes-nasty criminal enterprise because those who engage in it tend to be people with an overall lower regard for the law. Since smuggling is illegal, disputes must be settled with guns and violence instead of courts. Plus, police and other public officials are corrupted. Worse of all is the reduced respect for laws by the public at large. After the 18th Amendment's repeal, virtually all of the crime and corruption associated with Prohibition disappeared.

Smugglers are heroes. 

They resist the coercive State to help supply meet demand, a most noble cause.

We our them our thanks for their bravery.