it is because many people think money laundering is just changing a 100 dollar bill to 5x 20 dollar bills or sending 10 BTC to a mixer and getting 10 BTC clean!!! that is not it at all. money laundering means you put dirty money in your business or something similar and report it as your legit earning. for example you have a restaurant and at the end of the month you say you had 1000 more customers than you really had, pay the taxes and have it as clean money. In such a case, what should we do if we need to prove that we serve 1000 customers. If we exist is a camera in the restaurant, they may want to look at the camera records. They may want to have the bill for the food consumed by 1000 customers. In general, money laundering is being done more in the service sector. For example, it could be a massage parlor. |
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How can Bitcoin be used as a money laundering method? As a result, they will be asking for the source of these dollars when we convert our BTCs and transfer my bank account in dollars.
They will ask us how we won these BTCs. Then how we will give they an answer.
chances are they wash the money only for dimpan first, just to get rid of any traces let untraceable anywhere goings Laundering money with Bitcoin is something that anyone can do. Of course there are many ways for you to have a bank account that will not associate to you. Banks also have the client secrecy in which they are not allowed to put your bank account in to someone's police investigation it is a violation of privacy. Bitcoin can be a tool in money laundering. When we open an account from any bank, we need to confirm our identity information. How can we open a bank account without personal information? Offshore accounts, you can possibly open them in certain countries that aren't this strict in verification. You will need lots of those if you're doing it on a large scale. Else, LocalBitcoins would be the easiest way. I do not encourage any form of money laundering but these are the most viable ways. Offshore accounts can be. But the time we use the accounts here may not be very safe. We also get caught if we want to withdraw the money there and put our bank account in our country. The same applies to the LocalBitcoins system. Even if we take the money out of hand, we will have to put in my bank account. We will be caught when we reach a certain transaction limit. |
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Can it be used in image processing systems, for example? Or can it be used to break different passwords?
High GPU cards are being used for image processing or password cracking experiments. ASIC machines are more powerful than GPU cards.
Can this be used for jobs?
You really didn't read the responses? Or do you just not believe us? No, absolutely no. Why is that so hard to understand? Of course I read the answers. I wrote in terms of an alternative idea. Maybe we can modify these devices. I do not know. I wrote it to be a brain storm. Maybe we can modify the devices and do something different. |
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If Bitcoin would be banned in entire globe, I think many of us will not accept it at first but we can move on and if there would be a new opportunity that can replace BTC. So we should not ruin or abuse the use of it, I know you are in the right age to know what is right.
It does not make much difference for those who want to do illegal work. Because they can use maliciously in other currencies. There was always fraud and illegal work. Bitcoinde is a currency like other currencies. There are some innovations he brings. It's not a problem with bitcoin, even if somebody does illegal work with bitcoin. For example, a knife is a tool that helps you in the kitchen. But you can kill people with a knife. This knife will not do badly. The bad thing is how he used it. Yes, why do people always blame bitcoin. Good and bad bitcoin it depends on who uses it. And I think bitcoin created for good purpose. But I personally never ignore it, like how people see bitcoin i will still use it, as long as it is not prohibited by my country. And if my country prohibits bitcoin then inevitably I will leave bitcoin because I do not want to break the law. Thank you People are afraid of things they do not know. They are trying to get rid of their fear by forbidding. As people's knowledge increases, they will give up on their charges. It's not easy to give up on habits. The change will take some time. |
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How can Bitcoin be used as a money laundering method? As a result, they will be asking for the source of these dollars when we convert our BTCs and transfer my bank account in dollars.
They will ask us how we won these BTCs. Then how we will give they an answer.
chances are they wash the money only for dimpan first, just to get rid of any traces let untraceable anywhere goings Laundering money with Bitcoin is something that anyone can do. Of course there are many ways for you to have a bank account that will not associate to you. Banks also have the client secrecy in which they are not allowed to put your bank account in to someone's police investigation it is a violation of privacy. Bitcoin can be a tool in money laundering. When we open an account from any bank, we need to confirm our identity information. How can we open a bank account without personal information? |
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Bitcoin is considered to be the current currency even today. We can shop with Bitcoin. We trade in Bitcoin stock exchanges. We can exchange services for BTC. I do not need to wait for the future. Even now bitcoin has become a valid currency.
everything that spendable to trade (buy/sell) stuff considered as money , and bitcoin come with a breakthough full of helpful technology , like a decentralization , no tax in it and a lot of benefit , people just not realized yet about how benefical bitcoin rather than to use any other currency as money. Because people still do not know the concept of bitcoin. It's not easy for people to change their normal habits. There are even people who read computer science and do not hear bitcoin. There are many advantages provided by Bitcoin. But its use for normal people is still impractical. |
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Can it be used in image processing systems, for example? Or can it be used to break different passwords?
High GPU cards are being used for image processing or password cracking experiments. ASIC machines are more powerful than GPU cards.
Can this be used for jobs?
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I start out with 0.000000 btc.
Using only free methods.
How much btc do you think I can earn?
The question is a little lacking. You have not written the time. The right question should be: How long can I win a bitcoin over time? Free methods are actually fees. So faucet sites, signature campaigns, betting sites, etc. You spend time and effort in places like. |
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There is only one good side of the wars, which is to contribute to the development of technology. Many innovations in the world are first made in military areas. Later on, these innovations are brought to a state that ordinary citizens can use.
For example, the internet infrastructure first started as ARPANET.
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ASIC machines are specially manufactured machines for bitcoin mining. What else can we do with these machines. Are there any other areas where we can use these devices?
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I think not and sure, with the bank receiving the bitcoin then automatically reduces the use of fiat money. no doubt the central bank will not allow it. We all know that bitcoin is still entered the category of illegal so there is no country that permits the wearing of officially.
The banks do not have to accept it anyway. I control my own money on the bitcoin system myself. There is no need for a third party to have information about my money amount. But for me in the future the banks will accept bitcoin. People may prefer to keep their money in the bank, thinking it will be safer. |
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Bitcoin is considered to be the current currency even today. We can shop with Bitcoin. We trade in Bitcoin stock exchanges. We can exchange services for BTC. I do not need to wait for the future. Even now bitcoin has become a valid currency.
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I do not think China controls direct bitcoins. Bitcoin is not controlled by anyone because of its decentralized structure. I think the indirect way is China's influence on bitcoin. I think that especially the news that comes out in it causes changes in the price of bitcoin.
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How can Bitcoin be used as a money laundering method? As a result, they will be asking for the source of these dollars when we convert our BTCs and transfer my bank account in dollars.
They will ask us how we won these BTCs. Then how we will give they an answer.
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the average increase per month for the diff was estimated around 10%, and up to 20% on some months
but it also vary in comparison to the value, it may increase or decrease farthur
For example, when I calculate for 11 TH/s the first month is 0.24989525 BTC the second month is 0.22547303 BTC BTC. (0.22547303 / 0.24989525) * 100 = 90% As you say, about 10% is lost. On average, let's assume the lost value is 15%. Month 1: 0.24989525 * 0.85 = 0.212410963 BTC ~ 189,8 USD Month 2: 0.212410963 * 0.85 = 0.180549318 BTC ~ 161,4 USD Month 3: 0.180549318 * 0.85 = 0.15346692 BTC ~ 137.2 USD Month 4: 0.15346692 * 0.85 = 0.130446882 BTC ~ 116,7 USD Month 5: 0.130446882 * 0.85 = 0.11087985 BTC ~ 99,23 USD Month 6: 0.11087985 * 0.85 = 0.094247872 BTC ~ 84.34 USD Month 7: 0.094247872 * 0.85 = 0.080110691 BTC ~ 71,54 USD Month 8: 0.080110691 * 0.85 = 0.068094088 BTC ~ 60,81 USD Month 9: 0.068094088 * 0.85 = 0.057879974 BTC ~ 51,70 USD Month 10: 0.057879974 * 0.85 = 0.049197978 BTC ~ 43,93 USD Month 11: 0.049197978 * 0.85 = 0.041818281 BTC ~ 37,35 USD Month 12: 0.041818281 * 0.85 = 0.035545539 BTC ~ 31,75 USD 189,8 + 161,4 + 137,2 + 116,7 + 99,23 + 84,34 + 71,54 + 60,81 + 51,70 + 43,93 + 37,35 + 31,75 = 1085, 75 USD https://shop.bitmain.com/productDetail.htm?pid=00020161116015622659M8nhWeAc06B1The price of the antminer device is 1232 USD Also electric, cooling etc. There will be extra costs such as. If the device works for 1 year without any malfunction, it will save 1085.75 USD. Mining does not look very profitable. Is there a mistake in my calculations? You can not do any long term calculations with any degree of accuracy. By the methods above. Look at month 12 where you say 0.035546639 BTC = 31.75 USD. Suppose coins are worth 1000 the number would be 35.54 usd Coins where as high as 1150 usd in DEC 2013 as low as 180 usd in JAN 2013 as high as 1100 USD in JAN 2017 Taking you example above you neglect to mention the machine has value after a years use. I have a batch 1 s9 I can sell it for 1200 it has mined from June 2016 to Jan 2017. Coins were only 676 when I purchased it Coins are now 880. Many people do not understand how to combine btc/usd and do calculations. I paid 3.172 btc on jun 12th coins = 676 so 2144 usd value day I purchased it. Today I can sell it for 1200 so 944 is my net price. My deal is free power but split the coins so 944 is still my price. that 1 machine earned about .86 coins before the ½ ing or .43 for me it earned about 2.31 after the ½ ing that is 1.15 so it earned 1.58 coins x 880 = 1390 - 944 = 446 usd profit. now coin wise 1.58 + 1.36(current value in btc of machine) = 2.94 coins since I paid 3.172 the loss in coins = -0.232 coins no country in the world calculates via coin profits.. they all convert to their currency to btc values to calculate profit. But phil if you held coins for that time you would have earned more usd. yes 3.172 coins was 2144 today it is 2791 so holding would have been a 647 profit vs my 446 profit . My point is your models do not reflect what I just wrote they are simply not accurate to predict earnings if you leave out price/btc factor and diff factor flux I understand you mean that the BTC value will increase over time. But this may be the exact opposite. So the BTC value may decrease over time. To me, mining is a bit of a risky investment. Profit and loss analysis is not fully realized. Too simple on your part or my explanation sucks. Let's try again You can not analyze with a simple factor of diff and set it to a flat number say 10% per month to calculate your decrease of earnings. It is not accurate and fails to,encompass what diff can do. I can show,you 300 day time slots where diff moved under 5 % for the entire 300days I want to know how long time the investment will return to me as I will do for bitcoin mining. Can you show that the difference fell below 5% in 300 days? |
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Hello friends, Which company produces the best mining equipment in the world? I know https://www.bitmain.com as a brand. What are the names of companies that produce mining equipment? Is there a list that shows all the companies? I want to make comparisons between companies. Unfortunately I think I know as much as you do because apart from Bitmain that specializes in Bitcoin miners the rest are not standardized companies unless perhaps you want to build up your own mine and that I will recommend AMD's GPU's or ASUS among other known brands when it comes to GPU mining. Bitcoin mining with GPU is no longer possible. GPU mining can be done for Altcoins. But it will not be very profitable. We can loss money. As far as I can tell, Bitmain is the best in this regard. Alternatively, there is a firm Avalon. I saw that it was recommended in the Forum. https://en.bitcoin.it/wiki/Avalon |
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In general, the advantages offered by BitCoin are mentioned. But the part that affects me the most is the technological infrastructure. I think that what you do with Blockchain technology will change our lives.
We will soon begin to see a lot of projects related to the following issues.
* Banking
* Voting and Selection Systems
* Internet of the Things
* Money Transfers
* Cyber security
* E-Commerce and Payments
* Online Music Sector
* Stocks
* Health care
* Identity Management Systems
* Donation Systems
* Copyright
-i highly discourage banking in bitcoin you have your wallet and that equates to bank in fiat -how possible? What are the features of btc that leads developers in such idea -money transfers are really good especially when we are talking its efficiency -cyber security can also be bad for bitcoin - I guess banking as is in the list, is not about the conventional ways we have been, but the now way, bitcoin can turn every holder to his/her own bank. The entire list and even much more, are various endeavors in life that Bitcoin or the technology behind it - blockchain, are currently been worked upon for adoption, because of the unprecedented level of trust and security made possible by this technology. The list actually should be endless as more and more people are becoming aware of Bitcoin and its technology, far more points of attraction are sure to emerge. The case of voting and selection systems, is something that is needed badly in most of our societies and that alone can settle most of the ills in our societies. One of the most important aspects of banks is the hiding of money and the safe transfer of money. Blockchain technology provides an infrastructure that can change the traditional banking system quickly and safely. Many banks have started to work on this subject. I am confident that we will hear more about blockchain technology in the financial sector in the future. |
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So you guys really think from hundreds of millions potential programmers, coders or maybe hackers only a few could fathom the genius of bitcoin?
There are thousands of computer science and basic coding language MIT graduated with PhD, and even more people with even greater knowledge but without any academical degree, are they to be considered retards?
I agree with you. There are many graduates of computer science. At the same time, there are many academicians working in the field of computer science. For this reason, I think that the number of people who understand the Bitcoin protocol should be much higher. But the bitcoin system requires expertise in different areas. Only the software knowledge is not enough to understand the Bitcoin system. The Bitcoin system is a subject for people with different specializations to work together. |
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It seems terrorism has adopted a new strategy of driving trucks at a populated area. What do you think about that.
Every day terrorists develop new means to carry out their dastardly act to achieve maximum impact. Whether the strategy is new or old from ages past the most important thing is that it is wrong and its even more unsafe to have a social life for innocent citizens who wants to just live their lives in peace and the onus will be on government to really step up their game and protect us because for me now if I say I wont go to some specific places because of terrorism, will I also not want to spend time with family or I start running from trucks when I see one? Its a serious issue that should be looked into. Terrorism must be fought outside the country. It seems to me that modern leaders do not understand. For example, statements Trump about his foreign policy does not please me. Let's see what will happen in Syria. The general problem of the countries of the Middle East is terrorism. A new terrorist organization is constantly emerging. As far as I know Syria ISIS is cleaned. I hope that the land will be a more peaceful place. I wish a peaceful life in which children and innocent people are not dead. |
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