Bitcoin Forum

In my opinion, BTC is not a traditional currency like gold and silver because it does not have any use value, so it is not a credit currency. It's basically just one use, money laundering tool. The tool explains why bitcoin prices are spread across the country and abroad. Domestic money is changed into bitcoins and then physical transportation to overseas exchange for foreign currency escapes regulation and the cost of money laundering is lower than before, and the risk is low.

For sure bitcoin its money laundering tool , a lot of scammers hackers carders and etc told BIG THX to satoshi that he did bitcoin , that all black money goes to crypto , because its very good for black money and this money in safe on this people , nobody could claim on it  or ask it back from system holder.

That's not true. Try to change bitcoin to Fiat. Maybe you know a secret way to change cryptocurrencies bypassing exchanges? All exchanges require documents and money will be very difficult to wash. The cost of exchanging via black exchangers is higher than you will pay a legal income tax. You can launder money through investments in legitimate business.

I was thinking ,you are admired with bitcoin by the profits.Now the price of bitcoin is increased,so the holders will get huge profit.Bitcoin is best to inverse your money as like in silver,gold and assets in market.You won't get this much profit in other asset as like a bitcoin.
If you have invest your money in bitcoin,your money  was in safer hand.In one day ,you will get double or triple of the investment.

You would think it is simple and it is if you can find a peer to transfer to and get cash for. However, going through that process seems tough if you go through regulated exchanges. The only way to accumulate BTC without knowledge of authorities or exchanges is again through peers. Tough to get a lot of BTC that way I would imagine, but I have never sought it out myself.

Very correctly said. In my country, if you have to invest even $10 in bitcoins, you will have to give KYC documents and get it verified in the exchange. Most of the common investors are using it as an investment medium. Some of the influential people however are using loopholes here also but it is no fault of bitcoins. We should try to catch these criminals instead of blaming the medium they are using.

Nice troll attempt?    :o

The claim of bitcoin being a "money laundering tool" is a fantastical claim, and I'm certain many agree that fantastical claims demand fantastical evidence.  ;)

I would be interested to know which money launderers opt in for bitcoin with a public ledger and highly traceable transactions documenting their every move? Wouldn't cash be a superior option with its lack of a paper or electronic trail for investigators and law enforcement to follow?

The idea that bitcoin or crypto currencies in general are good options for money laundering could well be a media fabricated perspective. There isn't much evidence to support it. All indications are that banks and other financial institutions have laundered money for drug cartels, terrorists, shady russians and other illicit groups and never been punished or received more than a slap on the wrist for it.

Wow.. Someone who have great mind that judging bitcoin as money laundering tool is so pathetic.. This is the stupidest opinion ever heard so far in this forum..

So if it is really made for that only purpose?? Your here in a Bitcointalk forum,, right?? for that same reason so may I call you a “money launderer” rather than a bitcoin user.. Then that’s for sure we would agree..

In my opinion, bitcoin is not a money laundering tool, only those who abuse bitcoin feel bitcoin as money launderers. Instead I think bitcoin is a crypto currency exchange tool to fiat currency.

Money laundering is a trillion dollar industry and it existed long before Bitcoin was invented. The biggest tools that money launders use are the US dollar and banks. Nobody talks about shutting down banks just because money launders have used it. It is this kind of narrative that misses the big picture - the innovative technology represented by Bitcoin and other decentralized currencies.

Maybe you could say means to but not a tool. If you call it a tool, that means you are simply saying it is the purpose that bitcoin was created. You and I know that it wasn't the purpose. You also know that bitcoin is a super technological break-through.

It is disgrace to call it a "money laundering" tool, everything have some pros and cons, bitcoin is never made for this purpose.
A knife is used in kitchen as utensil but some criminals are using it in criminal activities like to kill or rob? So is there any mistake of knife or it's creator?  

The purpose of BTC is to demolish current monopolized banking system and to give the power back to public.
If you believe that our current financial banking system is working properly then don't get into cryptos, but you can't deny the fact that future is all about cryptos.

It is true that bitcoin provides anonymity to its users, giving the chance for those with the wrong intentions to make use of its nature, money laundering has existed long before bitcoin did and it won't ever stop, because there can't be a perfect system that prevents it, people will always find a way, so blaming it on bitcoin is just an excuse to bring it down, because some people can't benefit from it.

I understand that you do not have any idea what market valuation is,i am not sure how you came up with a conclusion that it is just a money laundering tool,if you are aware that all the exchanges are strict when it comes to policy making and you cannot purchase these tokens without verifying your account in most exchanges and how do you think they can evade the law.If you are planning to do criminal activities you will get caught and prosecuted just like in fiat currency.

There are both merits and demerits of technology, it's the user itself that decides whether he would like to use it in a good way or in a bad way. Bitcoin is also in the same dilemma, if you ask the people who are just like me then they would say that bitcoin is a pretty helpful tool that helps them to transact with people freely and without any hassle, but if you ask the same from a negative mind person then he would say that its bad as its used in ransomeware attacks and also in money laundering too.

What a bold declaration. What made you think that way? IMO people(at least most of the users) does not use bitcoin for money laundering, they use it for speculation and as a currency online(for some users). I guess you can say the same thing to fiat if it is still not being used to pay everyday(since most of the money laundering transactions happens in it).
Then do you know a way where one can get that money out without alerting the government about it? Most of the countries that still doesn't ban bitcoin requires documents before they can get the fiat currency from conversion.

You are playing into the soundbites of the entrenched and afraid. If you look at facts, you see you fell into propaganda.


Source: https://news.bitcoin.com/cryptocurrency-harder-launder-fiat-currency/ (https://news.bitcoin.com/cryptocurrency-harder-launder-fiat-currency/)

Do you understand what you are saying here? You are probably trolling here.

Just look at your fiat and see how tainted this money are. I agree that its been used by criminals. But its not only being used for terrorism because bitcoin has lots of functions as well. More purchasing power to us. And if terrorist takes advantages of, they have to understand it not anonymous. Sooner or later the authorities can track them down thru blockchain.

LOL All I can say. That era is now done when bitcoin was used for those type of trades but it's not a tool you know, there are other privacy coins that are being used that way now like monero. I wonder why you are seeing bitcoin this way but you are blind when it comes to your local currency/fiat money? How did you come up with this idea that bitcoin is a money laundering tool while it's not widely used? Everyone is hardly explaining here that bitcoin isn't created that way, you have to reply what can you say about it.

In this business, different people has different opinion, when we say bitcoin is a laundering tools, well it can be also possible, because bitcoin can be used for multiple pusposes but it depends on the people on how the way they acts and used bitcoin. Many different issues about bitcoin used for any bad acts, but there is no evidences being prove that it's true. However, let us look forward on how bitcoin provide a good contributions to humanities, let's forget bad acts and bad things, and all we need to do are focus on the good future life by using bitcoin as a sharp tool to our good future success.

That's why we need more regulation!

BTC and other digital cryptographic currencies can be technically regulated!

But because of the complexity of operation many people do not want to supervise!

Your way of thinking is very narrow. For example there is a car, and then the car is used by a villain, then whether the car only serves as the vehicle of a criminal?... of course not!, So it is with bitcoin.
I guess it all depends on the person itself how they treat bitcoin.

Well I beg to differ

Who categorized it as a currency?

It isn't ..
It's just an investment.. is what I feel like stock shares ..
I don't think I agree with categorizing it into a currency....

So how in the world would the criminals use the bitcoin that they accumulated from money laundering to their expenses or richness if they will not going to convert it into fiat? yes, sure bitcoin is a currency and an asset but can you buy a grocery package with it? starbucks? candies? There would be a store which accepts btc but it is broadly adopted? most of the local exchanges in the world was regulated by the government, conversion into physical money requires KYC that the money launderers hate. It is not that easy mate, by the way, any forms of asset which have a value can use as a tool for money laundering don't be so biased about it.

bitcoin makes it easy to make transactions at a lower cost I agree, but if you talk in terms of security obviously very high risk, how not? millions of hackers are capable of doing anything to their advantage.
so the best step is to play bitcoin without taking it long to slightly reduce the threat from hackers.

Nobody argues with the fact that Bitcoin can be used as a tool for money laundering. However, it`s capabilities are not limited to this. Anonymity and ease of transactions were created to make people feel more confident when dealing with their finances. Bitcoin also allows you to untie money from the state and gives people the opportunity to dispose of their funds and savings. The fact that Bitcoin is sometimes used "for evil" is not Bitcoin's problem, but the fault of those in whose hands it turns into a money launderer.

Yes we could say that bitcoin is being used to some illegal stuffs like money laundering ,
But it is really hard to trade your Bitcoin into Fiat because you would need some documents for it .
And also they would know on who took out the money because it is either you would cash it out in a bank account or when you transfer it .

Lets get this straight first because no one have corrected you. Gold and silver is not a currency it is an asset.

For the money laundering yes i suppose some people uses bitcoin to launder money but before bitcoin people are laundering money. Without bitcoin they can still launder money.

In any technology there are pros and cons but do not ecliple the pros because of the few cons.

Bitcoin can be used as a laundering tool, but is it a bad option of using?
Is it an advantage or a disadvantage? It's intensely personal decision.
I think it must not damage the image of bitcoin in our eyes...

I am not biting into this accusations. Bitcoin is basically a digital currency which used to buy online and paying bills through blockchain. Knowing your sentiments on how Bitcoin used to be a money laundering tool, it is not bad to think about it that way. But for me,it is not a tool you say but a way to earn without using the traditional investment.

Its use is explained by Direwolve. Ultimately that is the underlying value of bitcoin. Its monetary value isnt a made up value but it is supported by its technology.
For the next point regarding money laundering, there are so many ways to do it. I doubt bitcoin is even in the top 10 most effective way of doing it because it required a 3rd party exchange.

All agree that bitcoin is used for money laundering but no one ever showed the documents to prove it. Society is forced to believe that cryptocurrencies are created to make it easier to Finance criminal activities. And the worst part is, people agree. Remember that there is a judgment. Let the bankers prove it in the courts. We have to wait for the evidence.

It is true that bitcoin can be used in an illegal way, anti-social elements can use it as a money laundering tool. But, bitcoin can't be blamed for that, as bad people are doing bad things all over the world.

using bitcoin that is depends on the persone who use it
the bitcoin now use in many way of paiding that is Make the way of payments easier , but in onther hand , bicoin using in bad things too
but dont forget any thing you can use in goods and bad things

I think your way of thinking is wrong because bitcoin not as a money laundering tool to do activities in exchange of crypto trading of course we have to provide KYC documents so that the data we have input into the data collection. and it is impossible for us to do money laundering only from some people who have dirty plans that will look for loopholes to conduct activities as a form of cheating.

In order to prevent money laundering, terrorist financing, and illegal buying and selling of goods, the role and cooperation of the exchanges are necessary because the gate to exchange cryptocurrency to FIat is only on the exchanges. Therefore, the government should monitor the exchanges of undesirable actions and may damage the good name of cryptocurrency.

Don't you know that money/fiat has been use for money laundering for a very long time but government can't stop it totally? yes bitcoin can be a tool for that but thinking of bitcoin as solely use for just money laundering is totally non-sense, blockchain technology which makes bitcoin possible given many opportunities for business to adopt to these kind of changes which has become effective so far due to the fact that this kind of decentralized system eliminates fraud and intermediaries just for a consumer avail different services.

Wrong understanding about bitcoin.

Gold and silver is not a currency but bitcoin is so you can use bitcoin as a currency but gold as a storage of value,I don't think any where in the world gold accepts as a currency.
Bitcoin was invented due to internet transaction but people may use this for money laundering but they will get caught later because if they want they need to convert it into fiat so the question will be rise what is the source of this income.

USD is the main currency that the criminal use for the money laundering. OP is for sure uneducated on this matter. Bitcoin like you quoted has a unique concept and in the right hands it can do wonders both for the market and for its holders; in the future also for the economy. I am aware that the Bitcoin is a new mean for the money laundering but aren't all currencies used for that? Bitcoin is just treated as the dangerous asset because of the education and fear of the certain opposers to it.
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Government is for sure defending their own currencies which have till now been laundered so many times which cannot be comparable to the Bitcoin. False news spread by the media is influencing the common man which is after that getting really suspicious towards cryptocurrencies but in the end, cryptocurrencies are depending on the final usage of the certain investors.
Not all people are criminals!

Woha dude! BTC has no value? Really, then what I am doing in the crypto currency anyway? Dont you see that millions of dollars are put into crypto everyday. DOnt you think 8000 USD is value of bitcoin at all? If I am making investment into it then it doesn't mean that I am doing money laundering. For God Sake I would have been into jail by now because I have legally filed taxes on the bitcoin transaction that I have recently made. Lolz. If that was possible then do you think my money is black money and I should be guilty of it? No, you are mixing lot of things together and making it look like that way. I dont agree on that it is a money laundering way.

I think that cryptocurrencies are really a convenient tool for money laundering, but still not everyone uses it, there are people with the so-called old hardening.

I think it is very clear what bitcoin is, if it is said to be money laundering it is very wrong, but if changing bitcoin to another currency it can only use some applications already available and indeed support for the change

Much more money laundering happens in a single day with FIAT money than it was ever "washed" using Bitcoin. Monero might be more susceptible to it with "anonymity" being its killer feature, but I don't see it even topping the usage statistics on Darknet.

I sincerely think that Blockchain can actually help in stopping the money laundering.

Contemporary art is one of the biggest money laundery tool. You can speculate as you wish with the value of crap, buy it and behold! you have your money clean thanks to "art".
There are many ways people use to do money laundery, many. The Blockchain technology, as well as BTC, has many uses, as money and all stuff with value. But it isn't is the only way to clean the dirty money, there are several others, better and easier to use, I'm afraid.
Besides, how do you change your dirty money into Bitcoin and then into cash again? It is not so easy. In many countries, like Spain, for instance, make you pay taxes when your bitcoin selling is above 1.000 euros. So, there is not, for sure a great way of getting your money clean.
I believe one of the most used ways, as I said, is the art market. It is easy to declare, and, since you are buying "art", there are some taxes you can avoid.

I’m always a little bit confused when people say that Bitcoin is a money laundering tool. I thought Bitcoin is being driven by the rate of demand, so how is it possible for it to also be a money laundering tool? Or are they referring to the Bitcoin devs as using it as a tool for money laundering and stealing money away from people? I would like it if someone can break this one, I know it’s not easy.

Money laundering through the use of btc is possible yes, but cost of doing it won't be lower for long and the risk attached to it because a lot of regulations are moving in to cut that excesses and unless the amount intended to be moved would huge enough to involve the management of the exchange site, and the bank, it would be very difficult to carry out. For example if I want to move $20,000 across the border, I wouldn't bother doing that through bitcoin because I would be able to explain the source of it but moving $500,000 or $1,000,000 is where people start looking for ways to go about.

You will agree with me, that to get the number of bitcoins for $1,000,000 in time means you have to go through exchange sites that are trust worthy and a whole of these sites have implemented their KYCs, you can buy this with cash rather than your bank (which poses another risk factor) so either way you look at it, its getting difficult day by day.

Bitcoin is not a traditional currency, bitcoin is like an intangible property but can be used as an alternative transaction payment tool using advanced and modern technology created by the developer to facilitate all transactions from anywhere without involving a third party. only those who misunderstand that bitcoin deserve to be used as a money laundering tool. if we are able to support the existence of modern technology in the form of this digital currency, never use bitcoin as a means of evil, so that all countries can look positively of this modern technology.

Are you romantic? Evil forever. It always uses all available means for its own purposes. Cryptocurrency is created to be enjoyed by all. How will you determine who is good and who is bad. Bitcoin is a currency just like the others. It is accessible to all people, regardless of their purpose. Let law enforcement agencies do their work. It is their duty to fight evil. You do not need to shift these responsibilities to bitcoin.

All transactions with crypto currency are recorded in the blockchain and can be easily tracked. Paper money now is still the best way for black businesses.

Decentralization depends on people keeping accounts, and the people who keep the accounts are randomly selected by their capacity to be tested by other bookkeepers.

If the computing power is controlled by a group of groups, the list of approved transactions can be manipulated.

This requires the establishment of such a regulation, which requires a clear legal view of the holder's rights and obligations.

Bitcoin money laundering still seems to me to be a bit of a no-brainer.

Unless the currency really reached the point where they can take the place of the existing currency, otherwise, the money laundering process is always $$- BTC - that is to say, the process of always need to enter the now money laundering regulation strictly to the abnormal condition of the banking system, and COINS all online transactions, will leave traces of fully, by contrast, art of laundering more than BTC, faster, higher income, so even if someone use BTC money laundering, trust is also very few.

it is true that bitcoin is used to launder money from some criminal proceeds, in fact some drug dealers use bitcoin for drug transactions, there is even a movie that tells about it, positively because it is bitcoin known to the world and its price rose sharply, I do not expect bitcoin as a den of crime , let alone the source of illicit money that we should avoid. I hope bitcoin can facilitate financial transactions and also its security

But we can convert it into fiat where we can see that it is also money but the thing is that it is only digital. No difference between paper money since bitcoin is also valuable. You can say that because bitcoin is in the Low market right now how bout if this will tise again. Common bro, there's always an end for this dump.

Things are called illicit business they trive in secrecy and government come down seriously on secrecy and illicit. On the other hand, we should remember that bitcoin is decentralized and that means it can not be controlled by just a government or should not be controlled at all. So if we say it is used for money laundering, well maybe the fraudulent people in government decides to take the advantage.

It's true that bitcoin is used by some people as a money laundering tool.But with active regulation,it could be avoided.More over,bitcoin provides public ledger in which all transactions are registered publicly.So even money launderers are not satisfied with bitcoin and they opt for other fully anonymous coins like monero and zcash.So its just a criticism against bitcoin which is zoomed by the media.

It can stop money laundering? I believe most of the people are using it to do the money laundering. The fact that whole currency works over the blockchain tech is what gives rise to the laundering stuff. I mean at least fiat can be tracked down by some means and then things can be assessed for suspicious activity. In case of bitcoin to whom you will blame and what proofs will you give? We dont generate invoices here with the legal status to them we just create the transaction ID's for them. Nothing makes sense here and using this nonsense most of the people are able to use it over darkweb and for things which are illegal in status.

Looks like you are a highly ideological person who prefers to call bitcoin a money laundering device, I am very surprised by your statement where your time has been used only for bitcoin (means of money laundering) incorrectly, back to yourself whether bitcoin will be good or good stuff, if you insist that bitcoin is a money laundering tool I do not care.
very proficient Catch one’s eyes.

What you are saying doesn't make any sense. If you think about it, money itself is way more anonymous than bitcoin. If I give you a dollar bill, you have no idea from where that dollar was before it got to you. Maybe it was stolen in the streets, maybe someone was killed in the process, maybe it was used to by drugs, and only after all those things it was given to you as change in a grocery store. You just can't tell, period. With bitcoin, everything is public in the blockchain, so eventually the origin of those coins could be tracked to their owner. No saying it is easy, but it's possible, and you just can't do that with money. So what you are saying is much easier to do with fiat than with bitcoin.

Even if you want to stick to crypto, then what you are saying is much easier to do with monero or other private coins. There are reports from special entities saying that bitcoin txs used for illegal activities are not a problem, and pose no real threat. So you are just saying this without really understanding them.

It really happens, that's why there are countries wants that virtual accounts holders must submit their true identity for a valid verification in the bank, even some exchange company, KYC is needed in doing some trading, though it cannot be avoided totally, it can be minimized when imposing some preventive measures.

For one - it's easy to track Bitcoin transactions. Fiat not so much, especially because banks can hide some, even from Government agencies, and if you have many of them in the chain.......
As second - I didn't say it does, I said it can. You could enforce rules into blockchain and smart contracts in the future that would prevent that from happening.

If we think this way, churches, charity institutions, NGOs, hospitals, etc... Are all money laundering tools. People do this since a long time ago, Bitcoin doesn't give them any advantage they hadn't before. What I see is that BTC transactions are trackable and many criminals were already taken this way, what is good for Bitcoin's reputation and good for the law forces that are taking criminals in a smart way, not being necessary to affect negatively legit Crypto enthusiasts.

Yes it may be a form of a money laundering tool, but it doesn't mean you are doing money laundering all the time. Bitcoin is used also to send money or just pay for services online. But doing this you are not gaining profit. You are not doing money laundering. To consider it such a tool depends on the user's purpose.

if I think BTC is an electronic money which is a lot of usability, for us who live in the modern era now is very important to have ease in new things, it appears BTC in the form of cryptocurrency that introduce new things in the world, simple easy in use, is not bound by tax / tax is very low, so the future is increasingly admired and in interest, for money laundering issues, I strongly disagree with this, even if anyone did that is only a small part of this user, and it is just a person, not the entire wearer

I really don't think they are struggling on getting to convert all of that money on BTC i Don't know some of the foreign country that does not support the KYC thing or atleast identify the users identity. Because in our country we have that before you can convert or withdraw you must have to take responsible for the withdrawal you are taking and if you are not carefull enough you might go to jail.

Your vision is too narrow, of course bitcoin can be used as a tool to launder money but very few people are doing that with their bitcoin, most people investing in bitcoin are just law abiding citizens trying to obtain some profits out of their investments that is all, besides you can launder money with fiat, gold and silver and no one wants to forbid those currencies.

I don't know about this because turning Bitcoin into cash requires you to go through other companies, such as Coinbase. Say a drug dealer sells a million dollars worth of drugs, he can't just convert that into Bitcoins. Might as well stash it away.

it seems impossible, but everything can happened. because bitcoin is safety and anonymous. so thats possible if  some people think that bitcoin becomes money laundry. In my opinion its just a guess.

I find it very funny that there are many benefits of bitcoin and cryptocurrency that are giving life but people are constantly talking about some bad things created by bitcoin users themselves. If you do not use bitcoin for money laundering, money is laundered in other forms. Know how to use bitcoin for these beneficial purposes and stop judging about it because the decision to use it is how you decide.

im not sure about that, in my opinion bitcoin is benefit investment for many people not for money laundry.

Bitcoin is a terrible tools for money laundering. Btc addresses don't have a name assigned. Credit cards companies does not have the list of all addresses they use.

Have you ever heard that its easier for investigate authorities to investigate bitcoin crimes? For me its not true,bitcoin is a good way to orginize our economic activities and not only economic,there,in this system are not only criminals,a lot of individual consumers,business firms and even goverment agencies participate in this process in order to achieve specific goals,So its not used  only in economic affairs,bitcoin is a good tool for infrastructure,education and for other forms of human capital.please look at positive sides...the fact that one man is trying to launder money it doesn't mean something..

Do not understand what you're talking about, Satoshi Nakamoto might never think like that he just wants to see bitcoin as a positive form for most people and very useful, no bitcoin characters depict like that, maybe you think too religious to ban everything that is in your mind, do not know what you think.
if this is true, maybe a very clever expert is aware of it.

bitcoin as a money laundering tool, can be said so, because bitcoin makes it easier for corruptors to launder money from crime,they invest all their crimes into bitcoin,

I do not think in that way. I mean if you look for laundering money BTC is not your answer definitely.
Instead go with other cryptos if your goal is that.

Surveillance system has been sharpening since its popular expansion so they actually can track you down when you cash it out. And even if you didn't there are a plenty option how to discover who is behind an andress.

BTC is not designed to be truly anonymous so you are totally wrong if you still think that.

Instead I suggest you the old way: stash the cash in something ( like a bank ) and get all the men you have with gun style mode ready to shoot  ;D

It is true that bitcoin and other coins are used to launder a lot. It is not as valuable as gold or silver. However, USD or other currencies. it si not worth using, they differ only bitcoin at the point it is guaranteed by a government.

It really depends on how we use Bitcoin with our daily lives. Some peopke use it as an investment where the essence of being a currency is gone. Some use it for buying goods and as a payment method for services. Others use Bitcoin intentionally just to evade tax, wants privacy, money laundering or any illegal activities but thats is how it works for them. That is actually how lawless elements abused Bitcoin due to it's decentralized blockchain technology. I myself use it to buy prepaid loads and paying bills because it is too convenient than any other payment method.

That's why most governments are calling for regulations so that they can stop this crime going on and am sure that's why there has been the value price dropping . I believe that's when the money launderers starts to cash out their bitcoins. that's when the price starts to drop rapidly.

Actually, namely paper money are the first to enable money laundering. We all know fiat money is really anonymous, whereas to track digital wallets is easier for federals. And digital transactions can be regulated, for example to control companies hiring immigrants and underpaying them.

I think with the growing bitcoin in the big country is directly able to have a positive impact in the future because someone who rely on bitcoin is not too dizzy in do  transaction so they are still able to use residual income to meeting the needs.

Money laundering through bitcoins is tales that bankers come up with in order to have reason to demand restrictions on the use of bitcoins. In fact, banks themselves are the main tool for money laundering. It seems to me that bankers are most afraid of losing this way of earning.

Well sadly yes, criminal or coruptor using the money and buy bitcoin for money laundry. I'm sure at least 1 person already do that out there but i think people already smart nowdays and police are know about bitcoin and can detect it if the suspect caught using bitcoin or have a bitcoin wallet.

If you really think so, then it's hard for you to prove something. But I strongly disagree! If this were the case, and bitcoin is used only for money laundering, then countries such as Germany, Belarus, and some others, would not accept it as a means of payment. What can we say about the technology blockchain, which is being paid more attention for use in many areas of activity.

although as it is actually this bitcoin can be done in transaction tracking. many people who meggas for the regulation is the only aim to get data every person who has a wallet. and prevent money laundering

You want to say that Satoshi created bitcoin for money laundering ??? Why are you still at the forum, where all users, on the contrary, contribute to the development of bitcoin and its recognition.
I do not exclude that some people can use it in criminal spheres, but you can also use dollars for this. That's not the point ...

You mean Bitcoin as a tool for money laundering? No, Bitcoin is designed to evade government entities. It is untraceable and highly-encrypted and not designed to be an instrument for the non sense transactions like money laundering. It has a unique characteristic such as scarce, durable, portable, divisible, easy to recognize, easy to store, fungible, hard to counterfeit, and widespread use, the reason why it is hard to be a tool for what so called money laundering.

many people maybe say bitcoin money laundry tool, its posible. and several people say bitcoin is real investment. with crypto we can do anything and any opinion.

Criminals and anti-social elements can use bitcoin for their own benefit. So, it can be used for money-laundering. It's not the fault of bitcoin.

You cannot escape the traditional banking system in any meaningful way when dealing with large amounts of Bitcoin, so money laundering isn't going to be very effective. When you use an exchange to turn fiat into btc, there is a record because the exchange operates within the traditional banking system and complies with the current KYC and AML laws. When you exchange Bitcoin back to fiat, the same thing applies. For any exchanges currently not abiding by the laws, they will be driven out of business either by people refusing to do business with companies that break the law or by regulators shutting them down and criminal charges following those who refuse to comply. The risk for noncompliance is not low, and it is only going to continue to increase.

It was right that criminals and other corruptor is really using bitcoins as a money laundering tool but cryptocurrency and fiat are just the same in terms of transactions, but basically bitcoins is very helpful for the community because it can make peoples lives change in to better.

And what would be the difference between using bitcoins and banknotes or gold? With these you can't do money laundering? Come on, be serious ...

I don't think bitcoin helps a lot with laundering money because that has a lot of fees and requires documents the perfect way to lauder money is to establish virtual businesses or non profitable ones and declaring that they make u gain a lot of money.

Gold, diamond also can become money laundering tool! It's not their fault!

It's just BTC, and the value attributes of gold and diamonds are like that!

People are used to buying gold and diamonds to keep their assets from depreciating!

         Well, that's your own opinion but I think you need to read more about BTC and altcoins. Regarding to money laundering tool speculation is not worth to call for bitcoin because fiat money is also applicable on that activity. People who have an ability of doing illegal was born before bitcoin era.
          Since bitcoin has always an anonymous source, maybe they have seen an opportunity to use for money laundering.

Bitcoin now leaves a digital trail due to exchanges. Bitcoin conversion to cash has been restricted and monitored in them. Although you can bypass that if you sell privately to an individual who can buy them off you for a discount, I don't think there'd be lots of people who would bite, amounting to millions of dollars.

Governments are never going to be able to stop crime, that is just an illusion they are selling to people, and you may ask why they are doing that? And the reason is very simple if they keep selling the illusion they can stop crime then people will willingly give up their rights to them, this is exactly what we're seeing right now with more and more intrusive laws and yet all the crime is still there.

I agree if you really have intentions to launder money Bitcoin and altcoin is one of the possible reason on how to launder money but also they can use other things as well as you mentioned precious metals and precious stones are also tools to launder money. Even some commodities can be use to launder money. There is no question that bitcoin is not a tool launder money but why do we need to isolate bitcoin.

 :)      In my opinion bitcoin is not a traditional currency both in a gold and a silver because it does not even have a user at a value so it is not a credit currency .it's basically just the first money laundering tool .the tool explained why make use of bitcoin prices are spreading across .the countries and abroad domestic are the money changing towards bitcoin and then physically transports for over the country exchange for a foreign currency escapes regulations and the cost of money laundering at low cost then risk at low really.

Pack your things and go plow land if you think how BTC was created. Why are you still here in doing bounty if you believe it So?

I think let's look forward to how bitcoin contributes well to humanity, let's forget bad actions and bad things, and all we have to do is focus on good future life using bitcoin as a sharp tool for our future success that good.
In this business, different people have different opinions, when we say that bitcoin is a washing tool, it is also possible, because bitcoin can be used for some pusposes but it depends on the people about how they act and use bitcoin. Many different issues about bitcoin are used for any bad action, but there is no evidence to prove that is true.

but the truth mate is,this what you are saying is for those countries that has regulations about crypto its really hard to convert bitcoin into cash,but what about those countries whos having nothing in hard about cryptocurrency...its easy for them to withdraw fiats like in southeast asian countries whos no regulation about this communitu

right . This is one of the reasons for this market development. With a market when transactions are anonymous between buyers and sellers, do you think that is the right place to clean the money?

Do you understand what does the term "money laundering" stands for? The process you've described is not money laundering it is more like money transferring between countries but the money is not becoming laundered that way. If criminals have some money from illegal businesses they want to make the money appears to come from legitimate sources. For that they open legitimate businesses and inflate their income there to make it look like the business is a profitable one even if it is not. And then the "profit" from that business is called clean money since you can show where it came from.

The only way Bitcoin and other cryptos can be used for money laundering is when someone having illegal money is stating that that is because he/she bought cryptos in the past for a very cheap price and then sold them for the highest price possible. But I don't think people are so stupid that you can cheat them like that.

Bitcoin is the only system which is traceable and money launderers can not escape from it as its technologies are made for authentications and especially for money launderers that no money launderer can escape from it. A report says that a lot of money launderers and criminals have been arrested through Bitcoin transactions tracing method.

The advantage of bitcoin is that there is no regulation.

In order to establish such a regulation, it is necessary to clarify the rights and obligations of the account address holders in the legal perspective, which is not to be operated by the government using administrative means, but requires the cooperation of the legislature.

There will be some criminals who will pay for the money through bitcoin.

The payment of bitcoin is anonymous, and I exchange it for bitcoin to pay another wallet. And then instead of exchanging bitcoins for money, no one will know?

And now that bitcoin can be exchanged for other digital crypto currencies, it's hard to know where the source of the money is, with other digital cryptocurrencies.

because the blockchain system is anonymous so it will be very difficult to trace the identity of the bitcoin transaction perpetrators, so this is a great tool for money laundering,

Maybe there are some people who use it for money laundering, and this is one of the few shortcomings of blockchain technology, but let's not forget how many advantages it has and what it was created for. In the near future we will see how that technology and bitcoin will improve our life.

then the government is still looking for solutions to overcome them. because if this is misused by the state apparatus, then the state will be severely disadvantaged. hopefully soon there is a decision and bring a positive impact for btc

Whatever has value can be used for money laundering, and therefore also bitcoin.
But in the end, even the bitcoin is traceable, so the cash is always better.

Everyone could be satisfied with the benefits bitcoin brings. For sure we have money laundering tools and service here also.

One of the things many do not realize is precisely that everything is transparent in bitcoin every single transaction that has ever been made is there for everyone to see so if you really want to launder your coins you have to use the assistance of a service like a mixer, which means that bitcoin in itself does not allow laundering money rather are the actions of the people that allow that.

any mention for bitcoin, I feel much ease in many things because of bitcoin. fast transactions, low cost, no need to go outdoors, can be done with lying down, sitting, eating, and much more. too many opinions, too many loopholes, being evil or not, that's a choice, I choose to use it positively.

besides that we know that blockchain uses transparency system so everyone can see our transaction. for that there is no loophole for money laundering authorized to move

Bitcoin is not a traditional currency, bitcoin is like an intangible property but can be used as an alternative transaction payment tool using advanced and modern technology created by the developer to facilitate all transactions from anywhere without involving a third party. only those who misunderstand that bitcoin deserve to be used as a money laundering tool.

While its value is highly speculative (because it's so new), I disagree that it's only use is for money laundering. Bitcoin and other cryptocurrencies enable low-cost frictionless payments.

Do not confuse the desires of a few bad actors with the needs of the world. Without bitcoin, it is impossible to send money through the internet without the help of a financial institution, which not only adds significant cost, but also it intertwines the financial sector with all e-commerce. This means that when the big banks fail, the entire world economy is brought down along with them. If you don't believe me, let's go back to the year 2008 when the fraudulent banking practices of a few large U.S. banks were exposed. This domestic problem propagated into a full-blown international crisis due to the interconnectedness of the financial sector to the multi-trillion dollar e-commerce industry. It caused the Great Recession, which was arguably the worst economic disaster since the Great Depression. Bitcoin didn't emerge in 2009 out of coincidence. It was born out of necessity.

The advantages of bitcoin is its stability and disobey the control from the outside. Money laundering is not applicable to bitcoin! It can be earned or obtained by spending a lot of energy and system efforts. Not see nothing bad in such a the form of net earnings!

well, but in reality, the government says that bitcoin can serve as a tool for money laundering. well, but I think it can be minimized, moreover, it is now very easy to trace the big trading transactions of people.

The main ways to launder funds is to flow it through banks with the help of USD, but its all an illegal way to get money.

Bitcoin has been boycotted and feared by some countries because it has been used as a money-laundering tool.

The transaction website of bitcoin is a legal anti-money laundering liability, such as customer identification, suspicious business statement, etc., and it is really against the risk of money laundering related to bitcoin.

well it can be a tool for anyone to use it for the bad purposes such as with privacy coins where laundering money is even more easier than with btc, but it doesn`t change the fact that btc revolutionized the finance world in any case.

The statistics have already appeared that bitcoin is used for illegal or criminal purposes somewhere around ten percent. Bitcoin is simply inconvenient for this. For money laundering and for other crimes, more confidential coins, such as monero, are used. Therefore, the conversation about the use of bitcoin for money laundering or for committing other crimes has no basis. Who says this, either does not own the situation, or deliberately spreads false information about Bitcoin.

a very big possibility because the government can not easily trace transaction if the traditional money is converted into bitcoin especially if they are using dummy account.

It has a basis. It's just that all the fanboys here need to stop with being so irritated with everything that's being said concerning Bitcoin and criminal activity. It is being used by criminals, but so what? Let people buy as much drugs and weapons with Bitcoin as they want. Let them launder as much money through Bitcoin as they want. It's not our job to make a big problem out of it, but the job of authorities to track them down, which is already happening. Bitcoin is nothing more than a value tool that everyone can use or abuse. People should grow a thicker skin and accept the reality.

Those who declare that bitcoin is a tool to get money laundered is some kind of nonsense, there are no facts proving it.

this is the one reason why bad guys use bitcoin, they want to use this as tools that money laundring, or maybe they can use this to makes inflation in a country, we hope that its not happen because if its happen i think bitcoin will banned by some country in the world

It is possible, but money laundring can happen in every where. Bitcoin is secure and pseudo anonymous. Your identify cannt be tracked.

There are other ways to launder money without bitcoin! Bitcoin itself is not a currency, it is a gold object.

Its trade there is no absolute anonymity, the government may require provide washing currency trading center to provide transaction details. In order to find out the corresponding to wash money, track the currency flow.

Yeah i agree. Lets just quit making big fuss over nothing, besides who cares if they launder money? If they got tracked down, it is all their fault and they will pay for the consequences, and it doesn't even matter to us. Aside from they are the ones doing illegal transactions, we cannot blame or stop them, it is their own money so whatever they did, it is their responsibility. It has nothing to do with us as long as we did transactions in a healthy way.

I think bitcoin or cryptocurrency may be a too to money laundering. Its the easiest way for launderers to convert their money to a clean one. From one country to another. From one person to another. Simple because bitcoin is not regulated.

That’s why the governments are very insistent on regulating the currency so that they can counter the manner that many use it to launder money and use it for other vices as well.

I Didn't know that until now,i just realized that yes your right it can be a tool for money laundering. They can just Purchase Bitcoin anywhere and them use dummy accounts to cover up their true motives.

According to me  cryptocurrencies are really a convenient tool for money laundering, but still not everyone uses it, there are people with the so-called old hardening.

The reason why cryptocurrency is created is to in order for people to use it in the future, founder of bitcoins is intending to have an online currency that will be used in the future for different people and it might even chance the world.

Without cryptocurrency, money laundering is done daily and not because of cryptocurrency where money laundering takes place more often. The cryptocurrency market is increasingly receiving the attention and support of many nations and the world community for the true benefit that it brings to life. I believe that cryptocurrency is the future of the world currency.

The American dollar by far exceeds the money laundering capacity of Bitcoin. I understand why many people think that crypto can be used for these purposes, but just keep in mind that you still have to convert your bitcoins or whatever to fiat in the end. This is not a big deal if the question is about a few (hundred) thousand dollars but if you want to launder a few million dollars, it will be a completely different matter and you will quickly find out that Bitcoin is not as good for money laundering as people are saying or rather imagining.

Basically, to work with such amounts you will have to use a major exchange, but they will definitely refuse to touch your coins unless and until you disclose all your personal details. And that's where your anonymity as well as Bitcoin's capacity to provide money laundering service ends. And I'm not even telling you that all your transactions will be written on the blockchain for everyone to see and analyze.

i wonder why people thought bitcoin as money laundering tools because bitcoin is not so bad and plenty of benefit can we get during use bitcoin but i personally consider for those who consider bitcoin is money laundering tools is the haters of bitcoin because crypto users will never thought just like that

Personally I can say that with the features of Bitcoin there is a possibility that it can be used for illegal transactions and bad activities like money laundering, frauds, scams and all. Bit I simply think otherwise when it is stated that "It's basically just one use, money laundering tool", I really don't think so because it has more usage and purpose than that. It is a great innovation for better financial system, it has made way for opportunities for people to earn from it all around the world. It has helped a lot of people reach their financial freedom, steps closer for some. I has provided us a lot of great things.

Those who declare that bitcoin is a tool to get money laundered is some kind of nonsense, there are no facts proving it.

BTC all valid transactions in the network are permanent, block chain network, as long as happened, network exists, the long before as clear evidence, so BTC is not suitable for money laundering and crime.

Well sadly yes, criminal or coruptor using the money and buy bitcoin for money laundry. I'm sure at least 1 person already do that out there but i think people already smart nowdays and police are know about bitcoin and can detect it if the suspect caught using bitcoin or have a bitcoin wallet.

I don’t really know for you guys, even if it’s a money laundering tool, I can assure you that not everyone that are into this business are into it with the intention of practicing money laundering.

Some of us who are into this are here for a real business and not to participate crimes or whatsoever you may call it. There are some people who got into Bitcoin just to be able to earn money and help their family just like I did.

I did everything but none of them were helpful so I had no other option than to go for Bitcoin which was what I did and now I’m earning a lot of money, and I’m able to take care of my family and even have enough to save. I never expected to earn up to what I’m earning now.

You probably miss the actual meaning of "laundering". An opportunuty to transfer money abroad is not laundering. Laundering is more about convincing your tax officer that you aren't a tax cheater, and BTC won't help you to explain cash inflows.

Completely agree with your point, Bitcoin avoids taxes, it is anonymous plus the fact that many naive people are looking to invest, its a wonderful laundering tool.

Does that mean bad guys have not existed before now? Bitcoin is a payment tool; same as USD, gold, diamond, name them !
These are tools basically any criminal can use and have been using even before bitcoin became rampant in terms of usage.

There is actually no reasonable basis on how a lot of people just keep coming with the idea of bitcoin is a problem since it is going to be used for criminal activities like those activities were not even there in the first place. They should grow up and think of other better ways they can curb those activities than pushing the blames on bitcoin.

It is possible, The bitcoin ia secure and easy. Bitcoin avoids taxes, it is anonymous plus the fact that many naive people are looking to invest, its a wonderful laundering tool.

Some countries have serious economic problems. And prices rise every day in them. People in this countries have the issue of saving their money. They want exchange their national currency for U.S. dollars or euros. But sometimes the Government prohibit it. Or there are some reasons why people can't do it.

For example, Venezuela's monetary policy had hyperinflated the national currency, the bolivar, to near-worthlessness, citizens were looking for a way to store value in the traditionally stable, but difficult to access, U.S. dollar. Venezuelans have started using cryptocurrencies to address the problem.

bitcoin or the other crypto can be launder's tool. because if you do it, no one can detect the fund belong to? and  the person can generate or create new wallet multiple times.
but it can be anticipate, like the exchanger ask the kyc for those people who join in there and they prohibit to use transaction outside of exchanger.

No, I am not agree, I think bitcoin is not a money laundering tool, only those who abuse bitcoin feel bitcoin as money launderers. Instead I think bitcoin is a crypto currency exchange tool to fiat currency. it is my opinion.

The world needs money laundering tools like btcs, as i appreciate it a lot!

We can consider that cryptocurrency is one of the money laundering tool today but it was used in a good way because people today can buy things in an online store using cryptocurrency like on amazon.

Elliptic is the global leader in detecting and investigating cybercrime involving cryptocurrencies.Enable companies handling bitcoin to meet their anti-money laundering obligations, by allowing them to confidently perform AML transaction screening.

If BTC was suitable for money laundering according to your theory, I believe you still would have discouraged the idea of misusing it anyway. Bitcoin rather no currency was created to be used for harming people anyway. BTC provides anonymity and I won’t deny the fact that it is being used in crimes but BTC is not supposed to be blamed for what others do. Bitcoin is just an amazing currency which if used properly can generate huge profits.

I think btcs has immense importance in everyday life. It has made our daily life easier than before.

I didnt get your post really, either i am weak in English or dont wanna learn it.

I heard that big guys called a whales are manioulating bitcoin and other currencies prices for earning even more profit!

Yes Agree bitcoin can be used also in money laundering by buying their money in bitcoin and they easily exchange it in any currency that accept bitcoin.

Yes bitcoin can be a money laundering tool, because after we buy bitcoin there is no name we listed there is only a wallet address and private key in the form of an encrypted character, so no one can know the identity of the owner of the wallet

I think, money laundering can be done not only with bitcoin, many tools peoples use for money laundering. Before bitcoin exist, there is no money laundering?. Its about perspective and i think we bitcoin is nothing to do with money laundering. Bitcoin created because we want make transaction peer 2 peers

Almost those who keep saying a lot about bitcoin involvement with criminal issues obviously do not have any idea on the pseudo anonymity of bitcoin. Even if I want to decide to use a mixing service, this does not mean crime perpetrators have not been finding ways to always hide their transactions and clean their money in the first place. Tagging bitcoin as the main source of criminal issues globally is just an absurd way to think for those who are in that category of dumb thoughts.

What it means by the fact that btcs has no value? seriously? So where does the 10k price for it go?

I think all the money black sign in to crypto, because it is great for money black and this money safe on these people, no one can claim or ask back from the holder of the system. to ensure bitcoin tool laundering the money, many scammers hackers carders and MISC told big THX to Satoshi that he did bitcoin,

I think we don't need to be hypocritical that bitcoin does make it easy for undercover transactions because of the role of decentralization and anonymity. where the facility is not owned by fiat and gold. although still you can do money laundering but with that way. your assets are easy on the trace and taken over by the government. whereas bitcoin is free of all that

I am not agree, Try to change bitcoin to Fiat. Maybe you know a secret way to change cryptocurrencies bypassing exchanges? All exchanges require documents and money will be very difficult to wash. it is very difficult, in my opinion.

Some of the module which should be present n an AML software are know your costumer..

Its totally our fault that money is being laundered. Who are using btcs? Why? Just quit them!

Bitcoin is actually used for illegal activity but still many people believe that Bitcoin would be a future currency.

Learn the basics before saying what you heard on TV. You do not know the technical work of bitcoin, otherwise you would not say that

It is funny that a lot of people and most especially punk asses lay so much emphasis on the use of bitcoin for criminal activities when of course it is not like criminal activities was never going on even without bitcoin. This is reality and criminals will always find a way to their thing; bitcoin may aid them in doing their transactions, but pinning it on bitcoin as the main cause f the problem is just baseless and that is what is so much irritating about the whole thing.

Well it can be money laundering tool if the people who uses it is like scammer but we also know that buying money with bitcoins has a transactions and it is not declared as bitcoin yet until he buys the illegal money. Bitcoin is a cryptocurrency and not money laundering tool.

Well maybe some do use bitcoin for money laundering tool, but at least i know that i don't, and i never.
Bitcoin doesn't just have that one purpose, like a currency that's used for criminal things. No, bitcoin surely has many other benefits rather than that.
I think you know already, but most of people here buy bitcoin for long term investment. Since we know the price sometimes increase highly, and can gain us many profits. And i think, bitcoin surely has value, not like what you think. Maybe you should try to invest in bitcoin, feel the profits so you might change your mind and perception of bitcoin.

These half cooked knowledge is the main problem with many people who does not understand what they are talking about and they try to hear about misinformation provided by people who does not even know what this technology is all about and how it works, some people are just stupid enough that they wont be taking time to learn about it before commenting.

No one in the right sense will use bitcoin for illegal activities, there are many people behind bars who conducted illegal activities and made transactions with bitcoin and if you look at the financial crimes in the past few years, you cannot claim that bitcoin is used for illegal activities, fiat currencies are the widely used tool to launder money.

With an open blockchain it is really possible to eradicate corruption altogether and hopefully it will be implemented everywhere .

BTC is an anonymous coin that some people use BTC as a place to store assets that nobody can know, which is the best money laundering I have ever seen, and they can hold as many BTCs as they can. They know who they are. That is the point of the BTC that some governments do not accept BTC in their country.

Yes . And every transaction for bitcoin is completely anonymous. And this will be very safe in the transaction. And this is also the point that many people like to invest in bitcoin.

COINS most industry experts think, existing rules makes use of the virtual currency will be big money transfer out of the cost is very high, and all the steps are clearly documented, nowhere to escape.

Existing rules allow the use of cryptocurrency to transfer large sums of money, and all steps are clearly documented and there is no escape.

If you describe the bitcoin like that, then you are negative and illegal in using bitcoin. Because the main function of bitcoin is not as a money laundering tool, but as a payment system in every transaction and functions like money.

He doesn't know what is money laundering, and even more worst is that what he doesn't know where gold ans silver coming from. Is he aware how many people died in those mines? But that is other topic, main is money laundering. This guy doesn't know that the biggest money launderer's are banks, the same people that rules over traditional currencies, that same people that are owners of those mines where so many people died. This guy doesn't know even 1% of everything, like most of the others!  But he knows how to talk bas about bitcoin, and to make some stupid connections between bitcoin and money laundering. This thread doesn't deserve to exist at all!

I was thinking about this opinion actually,  because it such an easy way to earn money with bitcoin. But more and more I learned a lot of bitcoin actually some of the way to earn some coins was also not really easy,  where you need to be keep intelligent and using your brain to make a good opinion to shared for the peoples in this forum.

There are a lot of purposes of Bitcoin that just being a money laundering tool. I admit, with the features of Bitcoin, it can be used in illegal activities and such because it is awesome, it is working but it should not define Bitcoin as the culprit. The people using it in doing bad things are the ones responsible for those bad things but Bitcoin as a tool should not be defined by that because that is not the sole purpose of Bitcoin, those bad things that can be done with the use of Bitcoin doesn't erase the good things done by using Bitcoin as well.

This is great for all those who are having big businesses because they need to pay huge taxes for making these transactions. Bitcoin has made it possible for business community to carry on their transactions more smoothly. I am attracted towards bitcoin just because of its decentralized nature. Governments always are looking for their benefits from the hard earned money of common man. Bitcoin is dangerous for them.

The argument of bitcoin being a money laundering tool, on the one hand, is valid and on the other hand, can be baseless. I say this because before the emergence of bitcoin and crypto, money laundering has always been around and will remain so far we have people who want to launder money. Its a human thing and not the problem of bitcoin.

Yes that’s true. Cryptocurrency can be used for money laundering. In fact four primary areas of criminal activity lend themselves to cryptocurrency: tax evasion, money laundering, contraband transactions, and extortion. This is the reason why many countries are against cryptocurrencies. But I think that’s the fault of people and not Bitcoin that they are using this wonderful technology for such illegal motives

Perhaps Bitcoin and cryptocurrencies are a convenient tool for money laundering and tax evasion, but only if you use them carefully, because all transactions are recorded in the blockchain and in time, if you used your wallet to pay for services or purchases of goods, then you can be identified, and this is not entirely convenient for those who want to get away from taxes and launder money obtained by criminal means. Bitcoin is more likely to eradicate corruption through openness of transactions, but this is only if it is accepted by governments as a means of payment.

with its easy and fast transactions, and not through banks and private, bitcoin is very vulnerable to money laundering. because anyone can buy as much bitcoin and keep it in the wallet personally, nobody knows, including the bank.

We can say that bitcoins can be used for money laundering but it was just the same as fiat, the only bad thing is that, if we are using cryptocurrency on illegal transactions like drugs but as a of today, i believe that using crytpocurrency is a good thing.

yeah some crypto stuff like this are majority used by people to illegal thing, but we must not follow something like that, if we want to make crypto stuff are accepted in the wolrd community

When there are something new, people will get curious with it while other criminals,. There really are a lot of problems that occur every time that there are new things because people will always do improvements for themselves even thieves  will also follow with the trends to understand more.

as mentioned in this article money launders use property as source nt bitcoin for more clear understanding https://blog.bitmex.com/money-launderers-use-property-not-bitcoin/

Yes, localbitcoin, is well know and no identification is required that I know of.

It could be possible as some people doing illegal activities could hardly to trace due to it's anonymity. It is one reason why  some countries never adopt these form of currency to control such events and could bring justice to the people affected. That's why government tried to regulate crypto and put an end of its anonymity.

Although the error is on the user, but the government certainly can not blame them because they are anonymous, of course the target target error is bitcoin, that's why they forbid bitcoin. you're right bitcoin can be used for that, and now there seems to be no way out for this problem..

I think the exchange fee through a black exchanger is higher than you will pay a valid income tax. You can launder money through investments in a legitimate business.
Try changing the bitcoin to Fiat. Maybe you know a secret way to change currency cryptocurrency through exchange? All exchanges require documents and money will be very difficult to wash.

I think all the black money goes into crypto, because it's great for black money and this money is safe on these people, no one can claim or ask back from the system holders.
To make sure the bitcoin of his money laundering tools, many hackers and cardamom scammers told BIG THX to satoshi that he was doing bitcoin

Just because of anonymous bitcoin then many people stigmatize that bitcoin is used for money laundering. I think it's just a speculation from someone. because we ourselves have no evidence whatsoever regarding money laundering done by some people. lets think positively

LOL… I’m surprised how most of you all has turned to call Bitcoin a money laundering tool. To be sincere, when I got into Bitcoin I never had money laundering in mind, I was just looking for a quick, easy and cheapest way to transact money. Apart from that, there are lots of uses for it.

Bitcoin is can be used for both good and bad, depends on who you are and the path you have chosen. One thing for sure that there will always be the bad eggs in the community. There are good people making use of Bitcoin for the good and there are also criminals and bad people using Bitcoin to carry out their evil plans. We all should only hope for the good, anyone in his right senses wouldn’t support evil.

Different people have different opinions, when we say bitcoin is a washing tool, it is also possible, because bitcoin can be used for some pusposes but it depends on the people about how they act and use bitcoin. Many different issues about bitcoin are used for any bad action, but there is no evidence to prove that is true.

People are ignorant! Banks are money laundering companies, they operate for centuries, they finance wars, wash money from selling drugs, weapons, food, and everything in the countries where is war. But people thinks its easier to call bitcoin money laundering tool then to learn something about traditional system and how it works, some basics, nothing more.
I would like to ask people what they think how they launder money before 2010? Simple question that require simple answer.

The method of money laundering was developed by famous American criminal Al Kapone. He received money from gambling, prostitution and sales of alcohol, during a ban in America in the 1920s, portraying him as an income from his automatic laundry. Namely, one of his business ventures was a company in which the citizens in the machines washed and dried their laundry with coins. He displayed illegally acquired money as income derived from coins embroidered in washing machines in which citizens were washing their laundry. He paid taxes on that income, and the money flowed into legal currents - he was "washed". However, the system has been compelled by bookkeeper Meyer Lansky to allow his friend and employer, again a criminal, Bugsy Siegel to legally gain wealth. Simple method, clean money.

If you look from the negative side it can be done. Money laundering isnt just happening to crypto, there is always a gap to do evil, it's up to you

I have heard also, that bitcoin was involved in many criminal issues, but only this fact doesnt make bitcoin evil, it is people, who use it in the wrong way.

Your theory could be true except for one aspect - the price of bitcoin is very much volatile and could change in several hours.
This adds additional risk to using bitcoin as a money laundering tool - one can easily lose 20-30% of his money before he manages to sell bitcoin and get his fiat back.

One of the biggest problem that occurs in our own currencies now. We saw what are the effects of money laundering. We cannot expect much for more when it comes to bitcoin. We cannot see or we are blind in bitcoin transations and where it is originally originated.

There are many other cryptocurrencies which would be easier and more secure as a money laundering tool. Bitcoin is not completely anonymous and it is possible to track transaction. Bitcoin is not only about money laundering but it is also an important currency which will be widely used in the future due to its adoption and growing value.

I can't agree with OP, maybe in past it was, but now it's totally impossible, because first, by laundering I don't mean small amounts, because it won't be a problem to find guy another country who will buy for cash up to 10,000$, but from amounts 300,000$ - 1M$, almost every exchanger will request documents, plus such amount can  easily effect on price.

Yes the money laundering through crypto currency is quite harder because bank deposit is the only best way to buy and sell the crypto currencies so they have to record their earnings if they want to deposit that money into banks but people may find loopholes to launder but nothing in this world is perfect so bitcoin is also can be used in bad side but it doesn't mean we have to top using the bitcoin.

I dont think you would bother with 20-30% loss if the money is already stolen, u didn't earned it, just buy bitcoin and altocoin giftcards, uploat to your wallet, exchange it a few times, and voila u have untraceable crypto money, you can say mined, or buy some used mining equipment or gpu-s, they are also very expensive and easy to resell.

Well, it is not only Bitcoin that is used as a money laundry tools but dollars and any other currency in your can be use as a money laundry tools. And i don't agree with you that your conclusion that Bitcoin is not a currency.

ha ha. that was a very nice analysis my friend... but that's not how it works. you may treat it as an asset that can be bought over the web, and could be sold the same way. You can say it is an escape, but you should also keep in mind that there are fees among the brokers. These brokers were taxed.

There are some part that we are missing in the whole story - all crypto currencies including the Bitcoin that accumulate in them the whole adbanced techonoly.

Bitcoin is essentially semi-anonymous, between completely anonymous and fully open.
Bitcoin can query transaction information from the blockchain because all transactions are public. Although BTC's bitcoin public key address cannot track the query, BTC wants to convert it into cash and can still trace it through the information!

Money laundering is the conversion of illegal money into legal money by some means!
Really want to launder money, antiques, stocks, insurance are much better than Bitcoin!
BTC is a good choice for transferring assets!

I do not agree that Bitcoin is said to be a money laundering tool, because Bitcoin is a digital asset for the future. if anyone makes bitcoin as a money laundering tool, it's not the wrong Bitcoin but the wrong person. for sure Satoshi Nakamoto created bitcoin not for a crime tool.

bitcoin is not a tool to launder money. it's just the wrong people use it, but now the exchanger is tight because opening an account exchanger must go through verification kyc

U can trace it if u buy btc, but if u exchange a few btc to alt currencies with a few exchanges nobody can really track where the money is gone.

I don't think bitcoin helps a lot with laundering money because that has a lot of fees and requires documents the perfect way to lauder money is to establish virtual businesses or non profitable ones and declaring that they make u gain a lot of money.

I think people have a different opinion, when we say bitcoin is a washing tool, that's also possible, because bitcoin can be used for some pusposes but it depends on the people about how they act and use bitcoin. Many different issues about bitcoin are used for any bad action, but there is no evidence to prove that is true. That's in my opinion.

The use of crypto have become a way to facilitate these kinds of criminal activities. It’s sad that bitcoin has become associated to these and has given it a bad name. Criminals have taken advantage of the anonymity of bitcoin and the fact that it’s decentralized. It would also be hard for the police or investigating bodies to trace so its preferred by the  criminals.

According to a specific internet site, money laundering means : Money laundering is the process of creating the appearance that large amounts of money obtained from criminal activity, such as drug trafficking or terrorist activity, originated from a legitimate source. The money from the illicit activity is considered dirty, and the process "launders" the money to make it look clean.

(Read more: Money Laundering https://www.investopedia.com/terms/m/moneylaundering.asp#ixzz5IsvThSeo )

This indicates that money laundering is from an illegal act of obtaining money. In the contrary that's what bitcoin does. If so, why is it that it is free to be used to gain money even though it is not yet legalized by the government?

Please use common sense mate.

It is not a money laundering tools. All exchanges require KYC for big investments, you can in fact buy gold without receipts.

This is right. Bitcoin is being used in different criminal activities like human trafficking, drug smuggling and many more. But with this, we can’t just say this bitcoin is harmful. No, there are more advantages associated with this coin rather than those evils. So better is to make yourself equipped with best knowledge and then make fantastic improvement in this world. Make your life

Each and everything has got a advantageous part, similarly it too has got a disadvantages part. It is our responsibility to choose the required one. If money laundering has never happened over the past and with bitcoin existence it came to the world means we can say bitcoin is bad. Money laundering is found high through fiat தான் bitcoin which shows bitcoin too is used based on the feature it has got.

The problem is not btc, but people. Blushing has existed for many years before btc appeared, and there is no sign of abating.
Bitcoin is not completely anonymous. Just follow the Bitcoin wallet and check the criminals' information through the exchange to find the criminal.

If the whole world start using a single currency throughout the world, then i do not think that we will feel any need for money laundering, it is only because that some time people make illegal money in their country so they want to keep them safe outside of their country so they send their money through money laundering which is consider as illegal way of sending your money out of your country.

Mostly people taking advantage of being anonymous and of fast and easy transactions using BTC. Actually, criminal activities and money laundering are existed already since before crypto arrives. Isn't good to put blame on crypto existence of having these events, but sadly its getting worse when people started to adopt this new form of currency. Government regulations will be a big help to minimize laundering activities using cryptocurrency.

Digital money is not taxable and anonymous so you can hide your resources to avoid government taxes, Yes you are right many individuals using crypto only for illegal activities like you said but i think in several decades government accepting crypto for gaining taxes that can big help for the country.

I think this is not really the case. This is not absolutely true. With bitcoin the users become anonymous but only to a certain point. If you exchange your money back to fiat currency then it is possible that your identity can be known. I am sure that if you are a person of interest and they want to track you for money laundering you will certainly be caught if you will be converting your bitcoin back to fiat because exchanges have your identity at their disposal. There are KYCs just like in our locality.

I mean just like anything it can be used for bad things. But you're sounding like the media back in the day, making it seem as if only money launderers are using it. As least that's how it's going to make it seem.

I think bitcoin can not be made as money laundering because every time we turn a bitcoin into a fiat, it has a certain maximum number of limits that can be done. so on a scale we can not exchange bitcoin into fiat with a large amount because there is a maximum limit possible way that can be done is transferring on some wallet account from many bitcoin assets owned.

Bitcoin has no value ? clearly you dont know anything about bitcoin. Are you a paid FUD spreader ? because people wont believe you here in this forum cause we know that bitcoin has a value like gold and dollar. In fact the current value of it is $6627 because investors trust it and the source of it's value are miners.

Putting money illegally into the financial system, in other words depositing money The process of accumulation and revolving funds after they have penetrated the financial system The accumulation and revolving process the money after they have penetrated the financial system

That is true...

I find that it can be kind of difficult to money launder using Bitcoin, since where are they going to sell it? Coinbase? Places like Coinbase have to follow country laws. People on the street? Not liquid enough.

Cash is still the best for this.

Bitcoins has been exploited in many ways by organizations and many people, it may in fact be one
effective and efficient tool at that but that isn't Bitcoin's main purpose. It's not even bitcoin's fault,
this innovative solution is so far more capable of offering solutions, it depends on how people use
it and that's where it gets associated and got involve in numerous criminal transactions and activities.
But that's about to change soon, regulation will lessen some of the illegal stuff and a lot of governments
are aware of such things.

Not true if only used for negative purposes. Many positive effects by using bitcoin. money laundering is just a diversion. And government concerns if legalizing bitcoin. whereas bitcoin widely changes the economy of many people. essentially financially to be better I guess.

It is not a money laundering tool. Many normal investors are investing money it, you can find thousands of them on this forum itself.

bitcoin is considered to be non-compliance with the principle of anti money laundering. the skyrocketing phenomenon of Bitcoin prices makes it a lucrative investment commodity. On the other hand, however, this increase makes Bitcoin an invaluable currency. Bitcoin, whose current value continues to rise makes it more valuable as an investment commodity.

The nature of Bitcoin has given criminal activities a liking for it. Many global regulators are concerned that digital currencies may be vulnerable to money laundering or the illegal purchase of weapons and drugs.
Bitcoin transactions still have at least an electronic record to check. There is no more traceless, more difficult-to-track transaction than cash.

Bitcoin is not a tool for money laundering. I have used it to buy things. Maybe not as many different things as cash, but a lot of things, such as computer parts. Also people use it as a donate to different things that accept Bitcoin as a donation.

Maybe or not, as for me, i am only chicken for speculators and some illegal person using BTC.

It will use too as a laundering tools because some of all people use it for illegal those hackers earn much more because of digital money they cannot steal in the banks so bitcoin or digital money can use as illegal tools too.

A study was already conducted in which it was proved that crypto currency is used for money laundering only in a small number of cases. Basically, it is used as a useful product. You can search the Internet for more information about this.

Yes, and almost of them sold out our BTC with low price, that why the value of BTC is not high like now.

bitcoin has been widely abused by people who commit crimes, they can easily take advantage of this technology. most people who do not know about bitcoin, they rate the bitcoin from the negative side only without knowing the actual function of bitcoin. but if they are able to learn about this technology more deeply, bitcoin is created by scientists or by someone who aims to facilitate all transactions from anywhere without spending a considerable cost

Actually Bitcoin is not intended as a tool of  money laundering,  it's depend upon the user's behined how they use bitcoin in legal or illegal ways. Impact this technology help many people to improve their income especially those people who investing their money in bitcoin.

While it is true that BTC and any other Crypto currencies in the market could be used as a money laundering tool, wallets have come far from being completely anonymous. I mean now you can't actually cash in or cash out huge amounts of money if you don't volunteer your information. Besides, since it is electronic, you will see alot of paper trail.

What are you holding onto this money laundering? Why do you care? Tell me, have you already spent a lot on dirty money? It's even funny for me to read. If anyone cares about this problem, let law enforcement agencies do it. We must focus on how to make bitcoin and other crypto currency better and more convenient to use as a means of payment and less as a means of accumulation, because this alters the entire purpose of the biton and leads to a dead end development, to the collapse of bitcoin. That's what you need to think about. At bitcoin while there are enough real problems, still we will discuss the far-fetched problems.

in my opinion, bitcoin was created not for money laundering, but as a decentralized currency and facilitate inter-global transactions. only irresponsible people use it for money laundering and other illegal acts

Man you’re wrong. You’re saying that Bitcoin is meant to be used only as a money laundering tool 😏 you’re totally wrong. Bitcoin might not be a real currency, but it is very useful. There are lots of things ti can be used for, despite there are people that makes use of it as a money laundering tool and also to do all sort of bad activities.

Bitcoin can serve as a mode of payment and it is very fast when compared with other methods in terms of making an international transaction. Bitcoin is not bad, we are the ones that choose what we want to do with it.

I don’t really get what you’re talking about🤔 do you mean that Bitcoin has advanced technology? Well, it may have an advanced technology, but it is not the first. The only counting the op’s comment wrong is by saying that Bitcoin can only be used for money laundering.

Such is a stupid comment, but I wouldn’t mind since it is coming from someone who is a junior member of the community. Bitcoin is useful and that’s the reason we are all here. If it wasn’t useful, we wouldn’t be here, fact!

There is a lot of money laundering tools and for the government, cryptocurrencies is one of the threat for money laundering because it is so easy to transfer money using cryptocurrency and that is why the government are afraid because the people can abuse it to do illegal activities like money laundering and selling drugs anonymously.

"Laundering" dirty money will always be, cryptocurrency is just one way. Nothing can be done about this, no matter how the state struggles!

It is a fact that all the black money on the Internet are in Bitcoin and cryptocurrency. Plus of course a lot of people who just want to make money on the growth of the course. Pure speculation. Bitcoin can grow even in price when the demand and interest will appear in an even larger number of people. I am sure that many people still underestimate the role of cryptocurrency in the world.

Fiats have been "abused" as well and more than Bitcoin. Less than 1% of the Bitcoin transactions are used for illegal activities. How much just for the US dollar? Just for the drugs activities, the Americans spend over  $100 billion per year. https://www.whitehouse.gov/ondcp/research-and-data/estimation-drug-expenditures-consumption-supply
This is just for drugs and this just for one country, if you consider human trafficking, and so on you could be surprised how the amount of bitcoins spend for illegal activities is ridiculous compared to fiats

I have the same point over this currency which is using for money laundering because this currency is related to the private key of a person but does not know who is the person and therefore people can use it for money laundering. However this is the same with other currencies that people can use other tools for money laundering, so it is up to the use and not source.

Why are you surprised? Yes, bitcoin is anonymous, it is unclear and unknown who transfers money to whom and most importantly for what. For many, this is an important criterion for a free life. Freedom of speech, freedom of movement, freedom of currency transactions. A minimum of control... And the States and the government, on the contrary, control people more than the blockchain.

Unfortunately some people of self interest use the crypto market for money laundering and this is a bad activity they perform. However the traditional sources are not hiding from the sight of these money launderers and they perform the same through those traditional sources.

So this impression is everywhere and should not only consider in the crypto market but should keep in mind that the bitcoin and other crypto markets are doing well than the traditional markets.

If it would be so easy that you are saying, I think all the criminals will be already caught, and those filthy meals would be closed to new criminals, there are many ways to make those transactions anonymous.

Bitcoin is not a money laundering tool. It is already being used by a large number of people worldwide and these are common people.

Bitcoin is very good and its price is very high. But I don’t think it’s good enough if it used for a transaction or expense or like money laundering. I would invest my money into bitcoin. I think if I invest my money into bitcoin I will get a double profits but from that I also think the risk of loss if bitcoin’s price fall drastically, investing in bitcoin is indeed very extreme.

It is under new of every people if you see the cryptocurrency as normal then it will be normal comma if you will see there ripple currency like in the different way then it will be very very beneficial for us it will be working for all the people who trusted and make called on cryptocurrency really helpful in the future.

Bitcoin is not a money laundering tool. It can help to actually prevent such things as everything is digitally recorded.

Bitcoin is not money laundering tool, 99% users are normal working people. The remaining will always exploit all payment systems on loopholes.

Weird to read that btc has its value only because of laundering. There is no statistics and any other sort of evidence. Furthermore, your words about low risk are also not true, because btc is not completely anonymous.

Lots of things can be used for money laundering such as diamonds and dirty cash. Bitcoin is one of many tools but that is not it's main purpose, one day it will be used as a global currency so we should all stock up

Obviously, BTC is a perfect tool for Money laundering.

But I don't think that kind of money used on BTC. But governments still blame the cryptocurrencies for money laundering, though....

Every currency can be a tool for money laundering but government should not blame cryptocurrency for money laundering because it helps different people to have their financial problems fixed and have a better life in the society.

There are so many ways of money laundering and so many tears. So I believe that the problem is not in the tool, problem is in people.

Facilitate crime Indeed bitcoin can be used as a tool or means for money laundering where no currency does not have a formal institution or a responsible authority even identity and ownership can be disguised so that can not be tracked or in control by any party

In some countries it can be like that, I even heard recently that in Germany you can buy some goods or services paying for them with bitcoin and than do not pay any taxes with that.

I think it may be in different countries like that. But the government should not call bitcoin a money launderer. Bitcoin is like gold and anyone would want to have bitcoin. And can buy for various needs maybe in other country like that

I mean just like anything it can be used for bad things. But you're sounding like the media back in the day, making it seem as if only money launderers are using it. As least that's how it's going to make it seem.

bitcoin is not a money wash tool, many now countries are already regulating crypto exchangers, so chances are no more money launderers via bitcoin

To be more specific, bitcoin, according to studies, was used for money laundering, and generally, for criminal purposes, in no more than ten percent of cases. Just bitcoin is not anonymous, but is considered relatively anonymous. For criminal purposes, more coins are used with a higher level of anonymity - monero, ZCash, Dash. Therefore, you should not worry about using bitcoin for criminal purposes.

If anyone found then it is over for them because all the countries have very strict laws against the money laundering and probably you will have to spent few years in the prison and also have to submit the all money to your country's relevant department.

yeah indeed it can be a laundering tools, and because of that many goverment with high corruption are aware with this stuff so they prevent to ban or ignored this matter, well every stuff have a dark side of it, even something that we know is good too

There were lots and lots of tools available for the money laundering purpose. Now, bitcoin too has got added to the list of money laundering tools. This has made money laundering more easy and the same has generated a misconception about bitcoin among the common people that bitcoin is used for illegal activities.

yeah agree with it, bitcoin right now are prefer to being a laundering tools rather than a digital money that doing a transaction with it, so sad when know bitcoin are using for this thing

Bitcoin is used anonymously by its users and as an opportunity be used wrongly by criminals. Money laundering has existed since before there was a bitcoin. Probably very well known before bitcoin is created. There’s no good and perfect system to prevent it yet. But if you equate bitcoin with money laundering I think it's just a nonsense for protest so bitcoin’s price will go down. Many people don’t take the benefits properly and correctly.

I do not agree with you. You can always exchange bitcoins for currency. Bitcoin was invented in order to demolish the existing monopolized banking system and return the power of the public. What bitcoin does.

May. Bitcoin is a money laundering tool. Based on Blockchain technology, a very good technology platform for security and anonymity, bad guys can convert unlawful money into Bitcoin through a transaction. And moved from Bitcoin to cash. This is clearly money laundering. But it is an inevitable part of electronic currency. Not only Bitcoin but other Altcoin is no exception.

It's correct. Easily transitioning from cash to Bitcoin without the government's management is a loophole for offenders to easily launder money. This is also one of the main causes for the governments of some countries to issue bans on Bitcoin. They cite many reasons for banning Bitcoin. Actually, the government can not manage the value and transactions related to Bitcoin.

Obviously so. Money laundering criminals are really smart people. They use every means, every means to turn dirty currencies into legal money. Bitcoin is just an algorithm, is a product of technology. But Bitcoin is carrying special value that cash can not have. This is a great advantage for illegal activities. The core issue is not the responsibility of Bitcoin.

When I heard it, I immediately thought that bitcoin exists only for money laundering.

I don't think so thats bitcoin for money loundry because for invest we must fill KYC and every transaction in the bank we always fillnth document

in my opinion if assessing bitcoin is a money laundering tool that is very narrow thinking, for now the use of bitcoin is now very broad as an investment tool to be used as a global currency. so stop talking negative things about bitcoin so that the value is maintained.

Bitcoin is considered to erode other characteristics of reserve currencies: confidence, which is usually formed through sound monetary policy and regulation. Bitcoin is supported by the hope that encryption behind digital currencies cannot be hijacked. prone to money laundering with bitcoin transactions, because there is no regulation and cannot be tracked. "Because the use of bitcoin is not registered. Unregulated and unrecorded.

It must be admitted that many countries are not accepting bitcoin because bitcoin is a place for money laundering, this is certainly detrimental to the country because the state does not get anything from money laundering, the user is certainly free to exchange fiat in any country if he keeps bitcoin.

Maybe someone uses bitcoin for money laundering, but I do not think many of them are doing this.

The case of money laundering with bitcoin is real, fiat money exchanged with bitcoin is then transferred abroad, without being detected because of anonymous bitcoin. Unlike fiat money, gold or physical objects that will be difficult when they have to be "washed" or hidden because of illegal activities. Bitcoin factor was rejected by some countries, but this problem must be sought a solution so as not to become a tool of crime.

I think your state of mind isn't right in light of the fact that bitcoin not as an illegal tax avoidance instrument to do exercises in return of crypto exchanging obviously we need to give KYC reports with the goal that the information we have contribution to the information gathering. also, it is outlandish for us to do illegal tax avoidance just from a few people who have filthy plans that will search for provisos to lead exercises as a type of conning.

of course this must be the concern of government, besides having to keep abreast of the times, many governments are not ready to accept BTC for this reason, especially for countries with high corruption rates

money laundering tools???
come on guys even with FIAT it is possible and spread worldwide.
remember that, cryptocurrency is here and even with this FIAT always have that corruption.
we should not focus in negative sides.

I am not disputing the fact that bitcoin can be used for money laundry but not as much as it is portrayed to be. Money laundry is also much with fiat currencies and as a matter of fact, some money will not even be converted to bitcoin because the people involved are not conversant with it.

There are so many money laundering tools around and Bitcoin is just one them, and surely it's not the best one. Most big exchanges require KYC and those who don't are probably run by cops. So in reality you can't buy big amounts of BTC with your dirty money in order to launder them without big risk. It is much safer to open a legitimate business like it is shown in Breaking Bad, for instance, and launder you dirty money through it.

The money laundering tool is a way to transact or perfect us to exchange tokens to eth, money laundering is very difficult to do, we must continue to learn to understand what is in the bitcoin forum

I do agree the point is bitcoin is not good for money  laundry cause all record is immutable and could be use to track down the person who receive it. People should stop think bitcoin the best way to laundry money, i think people would rather use art as the way to laundry money.

yeah everything can be money laundering tools but other people will focus only bitcoin

and dont think before bitcoin born it not have other currency use for money laundering tools before?

It's a shame you think that Bitcoin is only used for money laundering. You never understood Blockchain and Bitcoin. It's been cruel to see something like that with millions of dollars in sales every day.

that is only part of the negative side of using bitcoin, actually bitcoin has more positive side too, and one more thing bitcoin transactions use pseudonyms, not anonymous. So crime should be used using bitcoin can be tracked because there is user data.

There are a lot of companies started with the sole purpose of laundering money, I bet there is more money laundered that way than there is in all of crypto.

Yeah, don't even start about all those charities, all dummy companies, etc. I think that even full market value of all of bitcoin doesn't cover money laundered in a year by a mile.

At this time btc is considered a kind of money laundering tool and deals with low cost but I think in the future if more people use btc then it will become an official currency that will be more who accepts as well as use to trade officially without cash exchange anymore

that's not true, since bitcoin and other cryptocurrencies are based on the blockchain technology, that is decentralizes and anonymous transaction, not all users are considered as laundering money, if we are to choose to cover our money anonymously, that is our right, it is our money, if it ought to be used for money laundering, still the persons who are involved in that act can be identified, before we can convert it to fiats, there are crucial requirements of exchanges for their clients that wishes to use their exchanges, they follow the law on KYC, bitcoin has more deep application to further make us earn from its opportunities to offer, not just money laundering.

yes of course this bitcoin can be used as a money laundering tool and that is what makes bitcoin dangerous because money is in bitcoin and cryptocurrency can be cleared without a trace, but everything can be recorded on the system and blcokchain.

yes, bitcoin can be laundry tool. none know if someone laundring their bad money than convert to bitcoin.
this is problem, but now many security implemented by people that work in here. and for me kyc is one of the other way to know who is person that make transaction in blockchain

this is why every country is very careful to legalize the crypto currency. because it is very vulnerable to money laundering by some irresponsible people. thus making the crypto currency always get a negative response and intense debate in every country because of the risk of fraud, money laundering and terrorism funding is very possible to be financed using crypto currency.

Indeed. Bitcoin for others is a tool for money laundering. They use it in able to get the money of some people they wanted to. They scam people by means of bitcoin tha is why most gpvernment still studying it carefully whether they will legalize it or not. However, bitcoin is not only that. It can be useful to everyone just make it or use it in correct situation.

I think that was the problem before. But now, we have KYCs and such that protects it's citizens and crypto currency from money laundering. But then again, there is always a way around it. The main security is the local wallet where you can't buy in a huge amount without personal verification. It still appears transparent.

I am from a country where money laundering is the norms for politicians from the time of military government to this period of democracy. The people involved in money laundering  don't need bitcoin to carryout their act. There are so many ways of doing that without being caught.

just as it has become the habit of money loundry carried out by politicians for personal gain. if in my country, with an anonymous nature, it is feared to give space for them if legalized now, without any preventive action

Bitcoin have features to be untraceable but do not mean it is fully anonymous and indeed this features is good for money laundering tools but to utilize this features i think depend on the people themself that bitcoin could be good in the hand of good person but bitcoin could be bad if use for bad things but for money laundering tools instead of bitcoin people can use another things and i think we have to stopped blame bitcoin

Bitcoin is not enough as a money laundering tool. because bitcoin is not able to spend in cash. need to convert to dollars. this requires a registration. laundering money should be legal. establish new companies and make them through. or transfer to a team of bribes.

Bitcoin has many different uses and it serves a variety of purposes. Of course, big criminals must make use of this technology to thrive. That is something we can not avoid. I always wait for the SEC's involvement, I hope the SEC will clarify things to make the market better.

actually what is the use of btc back to each individual, where you can use it for the things you mentioned above, or use it to better things, such as investing, trading, or making it as a digital currency, because it is indeed a btc its very anonymous nature causes there are some people who use it for money laundering, and in my opinion because this is also the government there are still many who do strict regulations on BTC

maybe your opinion can also be stated correctly if bitcoin is used as a money laundering tool, because bitcoin is anonymous, meaning that every transaction of the identity is very confidential, this can be used as a money laundering tool, but in some exchanges it is equipped with KYC for each member so the exchange can find out who just do the transaction

if crypto becomes a money laundering activity then many will be caught and go to prison easily. when domestic money is spent on bitcoin or crypto and then goes into foreign exchange, the blockchain will record on the ledger and there has been a purchase transaction of a certain value and then sold to the exchange. everyone can read bitcoin transactions in the Exploler block and this will be strong evidence in court

It seems to me that, Crypto can be a tool to be used to money laundering but it is not a money laundering but a thing that people can be used to do some illegal activities. Crypto is a decentralized transactions and we are anonymous here so it can really used to do some not so good transactions to hidden there identity. Its sad to hear that people did not used it properly.

Bitcoin is a digital currency just like the physical money, now if i am to ask, physical money what use value does it have other than exchange of goods and services? the same is with bitcoin, bitcoin is use to exchange foe goods and services just like the physical money, physical money is used for money laundry the same is with bitcoin, I think the more people start to see the good sides of bitcoin, the more it will go main stream other than criticism bitcoin. 

No, you're totally wrong - money laundering - it is probably not about BTC but about fiat money, especially cash which is hardly trackable, BTC will help worlds economy, you'll see.

money laundering is one of the reasons why many countries reject the existence of cryptocurrencies. actually, if they accept the existence of cryptocurrency they can track money laundering with Blockchain technology. I really hope they realize and try to use Blockchain technology in every transaction, so I think money laundering will be tracked.

Not only that, because cryptocurrency can also be misused by individuals who often carry out money laundering activities. They can wash their money into crypto very anonymously, it's easy for those who are already accustomed, because as far as I know in the crypto world has many places or containers such as the address of gambling sites, exchanges etc, which I think their transactions cannot fully detected. So there are many things from many countries and the government rejects the existence of crypto, because crypto can be misused for other negative matters and not just money laundering.

That is your negative thought. To hackers, bad guys, that's their idea and what they want to do. Conversely, for us, Bitcoin as a currency, we can trade, trade or trade with it. Because it is not real, it can not be faked or copied. And because of its special characteristics, its value is increasing

Well Bitcoin and Crypto currency are very usefull illegal tool before but not only for money laundering but for all illegal activities specially scam projects that they use Bitcoin platform as a tool to steal the hard earned money of the people. The good thing is that this was happen before in which during the time that the regulation is not supported but now most of the  Bitcoin users are fully supported the government regulation polices to ensure that Bitcoin will not become an illegal tool.

Hopefully in my country will follow as you explain. at this time many hope that people in my country so that bitcoin is legalized. but from government it still has not found right policy, and one reason for this is money loundry

If you think bitcoin is a money laundering tool, you should look at US Dollar. US Dollar used by many illegal activity in many country and we already know it. I dont think bitcoin is money laundering tool because its depend on the user

I am agree with your topic. Mostly people use bitcoin to scam people's money. For scammers bitcoin is just like a free money generator tool.Bitcoin makes scammers' work easy. Just one click and all your money gone.

Unless bitcoin is really a place to replace the existing currency, it will always need to enter the banking system where money laundering is strictly regulated!
The BTC's transaction records are kept on the blockchain. As long as the government is pegged to the trading platform and some large mining pools, large-scale money laundering is easy to trace.

What you described can be one of the scenarios for money laundering, though in reality it's not that easy to exchange tons of domestic money into btc.
Imagine how many problems need to be solved to transfer several millions of local money to launderers' bank account (or to bring several bags with cash).

well, I think the use of bitcoin depends on one's intentions. yes, bitcoin can be used as a money laundering tool, but of course there are several ways to prevent it. Well, I think even if you use Fiat, you can make it into money laundering. basically bitcoin is the same as money.

If bitcoin is being used for illegal transactions then it is possible. For me, it is because bitcoin is used anonymity. But let us just hope that it will not used by illegal transactions.

It will use for money laundering but most of all people are using it to make an faster transaction and easy to buy thing using bitcoins that's why bitcoin are spreading around the world and make noise and popularity, even there are some of people use it for money laundering but its not a tool that use only for stealing or even money laundering.

Unfortunately this is a reality and is the sole reason why Bitcoin is banned in countries yet to develop. In developing countries, it has not been recognized so far for the economy is still in the phase of development and introduction of a system like Bitcoin can be way to ill effective for the economy in the form of money laundering and the illegal transactions that otherwise would not be possible to get done.

Money laundering is one of the reasons why bitcoin is banned in many countries, even though money laundering is only one negative side of bitcoin. While the positive side is a lot, especially the blockchain technology that can improve efficiency in the management of corporate or state finances. As long as the government can carry out monitoring, money laundering can be traced.

That's already one of the terms coined for bitcoin "a perfect tool" for money laundering because its decentralized and you can make enormous amount of money transaction in the blockchain without having your identity exposed. That's what pushing some corrupt politicians to do money laundering because the risk of being caught is already low.

if you think that of course you have money that is not feasible and should not be known to others until you think of it as a tool for money laundering, because we know the results of good and bad crypto currencies depending on the intention and purpose of the investor itself

Money laundering is not an entirely legal procedure. Another thing is if countries start accepting cryptocurrency as a unit of calculation.

I have the same opinion with you. So it is taking advantage of money laundering, but no organization can collapse it. Because when Crypto collapsed, the world economy would certainly be degraded more severely. So this is a great market for those who want to get rich quick.

Can we really say they silver and gold is a currency or traditional currency? Where you can pay your bills with these metals?
As far as ik now it is very hard to do ,possibly in gold fiels of Klondaike.  Nowadays gold and silver is traded a lot  with financial instruments not physcially this means that there is a room of how real is the cover of physcil metal over the digital holders.

It works very well as store of value and for international payments, so i dont agree with you, in general :) since we all know that some loundering is happening anyways.

You made a good point here. Bitcoin can't be converted easily to fiat money without going to verification process which is a requirement to users. However, that can be easily resolved by those people who want to get away with illegal activities. They can use dummy or withdraw little by little without trace.

If by black exchnages you mean buying from people who are willing to take cash exchnage of fiat, i am not completely sure but i dont hink that they are asking for more than income tax is in most ocuntries: 20-25 % .

I speculate that the scheme - pay taxes from btc, which could be defined as capital gains is the loundering, isnt it?

Bitcoin and any other cryptocurrency can sure be used as a money laundering tool, especially if the person holding the cryptocurrency is a money launderer, but the use of cryptocurrency depends on its holder, if you wanna use it as a tool for evil things then its up to you and you alone, but if you dont have that kind of mind set like most of the people around here then its up to you as well.

Money laundering tools are not terrible. The scary thing is that some people use the reasons here to clarify the future of cryptocurrencies. In fact, cryptocurrencies are great. Money laundering is only a small part. I admit that it has shortcomings now. But can't stop its future.

Bitcoin is famous for its anonymity and decentralization so criminal take advantage of this and use bitcoin for money laundering, i think this is what we can not stop. But i don't think btc is only used for money laundering tools, it also used for payment and transaction. there are so many benefits of bitcoin, it is not only used for crime.

But before the invention of bitcoin we don't have any tool for money laundering?

So it depends on the users who is using the new technology for wrong things but even money laundering can be stopped if everyone starts to use crypto as the primary currency.

It seems to me that you have limited thinking and you know very little about Bitcoin and its blockchain technology. There are a lot of discussions on this topic and everyone has their own opinion, but personally I think that money can be laundered in absolutely different ways and people did it before creating Bitcoin.

I use it as a regular money in paying things online like a fiat that most people use before but now online currency is just like a fiat. And I think I don't agree with your opinion that it is a one use currency that a person can only use, Bitcoin has so many use in the human living.

they just trying to make fud ,he did not understand the technology behind bitcoin and cryptocurrency.money laundry or crime usage just the way to make cryptocurrency market die.

I also don't agree with the opinion that Bitcoin is a money laundering tool. maybe there are some people who use Bitcoin for something like that but the function of Bitcoin is actually not so, so we can't call Bitcoin a money laundering tool. I personally see Bitcoin as the future money.

no matter how hard your efforts to do money laundering in blockchain technology will be easy to know because all the blockchain technology transactions record all transactions in your wallet. therefore the government in several countries prohibits this technology from being used in their country.

Well i think that is why KYCs are used today to prevent such occurrences to happen to us. Well, in our local wallets, there are limits to withdrawals and to increase that you need to pass verification tests and authentications. I think this is what developers should look into and beef it up security wise.

in my country, in the past, government said that people should not use bitcoin because it dont have any regulation. and bitcoin susceptible to be money laundry. thats why in some country enforced fill kyc. we know that we are not loss something, but sometimes government will loss thing.
so, just use bitcoin as good as you can. and its back to ourself

it looks like bitcoin and other cryptocurrency can be a money laundering tool because in some countries the rules for using cryptocurrency are not too clear and when assets are sent to cryptocurrency wallets, there can be money laundering.

in my opinion crypto currency can be used and used anywhere and anyone who is good or bad depends on the intention and purpose of the investor itself so until now the crypto currency can be used for money laundering though

this happened because there was indeed a gap to make money lound, but government should take preventive measures so that this would not happen, for future technological advances

   That is true, it can be some people transaction like that from black market or either illegitimate market, some project have no need for kyc although, some people have their ability to mitigate financial crime risk.and as far as you laundering your money in the legitimate market has a record to present.

You can't stop someone's desire, everyone is free to do what they want, including using bitcoin. Everyone just looks at a technology, especially bitcoin, from the negative side, they forget the positive aspects of using bitcoin. Regarding the government which prohibits bitcoin because it is used as money loundring, I guess they are hypocrites.

Corruption is an act that must be destroyed but they only try to stop corruption like a policeman who tries to steal a thief using a sports car but the police only chase him with a rickshaw. The government can make a strict law for corruptors, such as giving the death penalty for all those who are corrupt and it's a good solution rather than accusing a currency that can be used as a place for money loundering.

actually the technology owned by bitcoin has been very difficult to do money laundering because all transactions that have all been recorded clearly even the recipient and sender are clearly visible so for bitcoin it is very difficult to do money laundering.

I know what you mean but I don't agree that BTC onle has one use - money laundering tool. Actually, BTC has so many use in our life, do not make people have a negative look at BTC.

crypto currency can be accessed by anyone anywhere and by anyone whether the results of the crypto currency are bad depending on the intention and purpose of the investor itself if indeed the crypto currency is used as a means of money laundering means that the initial goal of that person is not good harm others, of course

I think this is not the reason why those countries have still not recognized fiat. I believe that it is not easy to do o in the type of government where there is fare and just accountability like China and there is literally no concept of making money by entering the government. So regardless of how much personal space Bitcoin offers, it is not possible in the presence of an audit system having great history for the accountability.

I think we really can't prevent this from happening anonymously which is the reason bitcoin is used as a money laundering tool, terrorist financing and drug trafficking. bitcoin like a knife depends on the users of bitcoin can be used for crime or good. and for this reason a number of countries reject bitcoin. because all these actions are illegal.

not only crypto  i think.all thing value depend the holder purpose.if would use it negative purpose, we could do this.not only crypto that stated as money laundering tools.

This is the wrong view. Although Bitcoin has drawbacks, its disadvantage is its advantages. It is necessary to know that money launderers are usually a minority even if they leave the cryptocurrency. You can't control the wealth of the rich. But the value created by Bitcoin is incalculable in the future. The current price of Bitcoin is 6500. This means that Bitcoin has many supporters, they are not fools.

Now a days we do not need any tool for money laundering. We can use bitcoin for this purpose. Even there are privacy currencies like XMR where trasncations  cannot be traced. So this is one bad usage of digital currency and we should look on how it can be avoided.

Bitcoin is known as a place for money laundering because the owner of the bitcoin is anonymous, only a code in the wallet so that the sender and recipient of the bitcoin is unknown. Therefore, many countries ban  use of bitcoin in their countries because in addition to money laundering,  also to keep money from crime.

This is true. There are many disadvantages to cryptocurrencies. You should never invest in cryptocurrencies, and then you will cry after ten years! If this is a perfect market then it does not require any investors.

   And why do you invest your time and energy here? What is the purpose behind your staying here? Think it trough, you always invest something, money or your time and energy,
you can invest everything you have, you either support something or not. You being here means support to crypto-currencies.
   Looks like many people here don`t how what is money laundering. I will give you a simple explanation about it. It`s when illegally obtained money become "clean" money, like you earned
it with legitimate way. Do do that you need to have paravane, legit business that have legit bank account, you need to pay tax on that money. Money laundering is the act of concealing
the transformation of profits from illegal activities and corruption into ostensibly "legitimate" assets.
   Who is doing this? Banks and governments together. It`s stupid to think that Bitcoin is money laundering tool when it`s was illegal in most of the countries when this topic started. You
needed to use "legitimate" assets and banks to launder profit from Bitcoin!

Did you know that bitcoin transactions is traceable, and KYC on every exchanges site will make all transactions become very very transparent. And did you know that even if Bitcoin is not exist, people will always find ways to do money laundering. If you use bitcoin to do money laundering then the risk can be bigger because law enforcement can track the transaction.

for now it's certainly very easy for many people to use bitcoin for their illegal transactions. can we stop or prevent it? what about government regulations? could it be possible to minimize? lets say the government provides regulation and every exchange must require users to verify ID. is it possible to suppress it?

Quite rightly, from the very beginning Satoshi most likely wanted to make money on it, but also additionally make Bitcoin transactions anonymous, so even people with dirty money could use Bitcoin to transfer their money. So this is Bitcoin's main ability - anonymity, which allows the whole world to launder their money.

Laws have been found around this topic of corruption and in so many countries there is strict penalties and can even be punished for life. In addition, a fare and good audit system can eradicate it from the root.

But when someone want to cashout the money in huge numbers they need to go for banks payment so in that case the black money holders can be exposed so I don't think this can be used as a tool to launder their money and one more the bitcoin is not completely anonymous since it can be traced by our wallet address by anyone.

dont villainize bitcoin. bitcoin itself do no harm to the economy. only people with evil thoughts and put the blame on bitcoin.

Money is the root of all evils, bitcoin is money. Even with KYC's and goverment regulations some bad actors can still bypass this systems, they can always bribe anyone at good prices. Humans are humans and have weaknesses and there is no perfect system, the good thing is through blockchain technology everything is recorded permanently so the chance of doing laundering is getting slim.

It is inefficiency of the system that misuse of power and corruption is spread around the world particularly in the under developed countries. If we formulate good policies and strict laws, we would be able to eradicate corruption.

That depends on you. If you see it as a money laundering tool then it is your opinion. If that is how useful it is to you then may it is indeed. Will bitcoin serve another purpose beyond your plain reasoning of it? Well certainly it can be used in many ways without thinking about how it can just be used as a money laundering tool. Consider a knife in the kitchen that is used to cut vegetables, it is really harmless yet if you do use it for crime then it can be a tool for that. You can create utilities if your really wanted to but if your thinking limits you to that idea then it is as you said.

For best eradication of corruption from our systems, bitcoin can be a good tool. Reason is, it is all about transparency and accountability. So political people couldn’t take any unlawful advantage.