At any airport around the world it's quite normal that if you are departing or entering a country with more than $10k currency, you have to declare it.
Cryptocurrencies are another matter. What you must declare are banknotes, traveler's checks, gold coins... Anything physical. The future will probably assimilate cryptos to money in the bank, but so far there isn't a single word about BTC in customs regulations. |
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This is one of the reason why I hope BTC will be sold and bought by banks someday.
You'll have to go the police to report the theft. It matters that the police knows that kind of theft can happen, but don't expect to see your money back.
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I'm much too old to try, but in many banks, parents can open an account to their child. So I guess that once you have a bank account number, one can sell BTC and have the cash transferred to his/her account.
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I'm not sure there's a market for this.
I've bought my first coins at bitcoin.de, then I made some trading at Poloniex. I know there are some stolen coins out there, there are also some drug dealers on TOR, but most users got their coins in a legit way. There are people working and getting paid with bitcoins. So few people aren't able to explain where they've got their coins.
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So far, so good, but we have yet to see if the network can handle more transactions than before. I guess we'll see that next week.
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Not dead, yet! https://twitter.com/PoloniexI guess they should stop letting anyone use their API. There's just too many fucking bots trading, sending hundreds, possibly thousands of requests every minute. The crypto markets would be better without bots. |
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I made several deposits and withdrawals at Poloniex this Spring without any trouble, but those last few days were different. Many people moved their coins to some safe storage because of the SegWit roll-out. This isn't over, yet. I would suggest to wait a few days before making any transaction. If thousands of people want to withdraw their coins at the same time, with thousands asking for support, well, there might be delays...
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i hate to say this and i hope im wrong but more than likely the remaining admin just moved all the coins to a wallet he controls so he can cash them out and move to some tropical beach somewhere in peace. BTC-e had two owners. The first one was Alexander Vinnik, who is about to be deported to the United States, where he is going to spend the rest of his life behind bars. The second owner is another Russian guy called "Aleksey", who is in some country which is outside the US jurisdiction. He has taken control of all the coins and gone in to hiding. Now this may be a strategy to protect these coins from being confiscated by the authorities. Thanks for info. I knew the US had seized the www.btc-e.com domain name, and the website was probably hosted in the US, but BTC wallets are different matter. The question now is the following. Will that Aleksey guy try to fight the US government, protecting the assets of legitimate American clients, or will he simply disappear, keeping the coins all to himself. |
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Yes, it's a joke.
It's bitcoin for losers.
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BTC-e should be accused of money laundering. If what the article says is true, some 300,000 BTC were deposited at this exchange. That is huge! What about KYC regulations? If someone comes up with 300,000 BTC, this should raise alarm!
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Middlemen?
I haven't used an exchange for over 3 years, and I'm not using a web wallet, but Electrum. So there's no middleman anymore to me.
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You shouldn't worry about that. US immigration services have a lot to do these days, and they deal with much wilder things than whatever an individual can do with cryptos. Well, if you deal with hundreds of BTC, that's another matter, but I guess you this isn't your case.
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Bank transfer, no doubt about that. BTC is only great between people who are BTC users.
If the recipient has never owned a single BTC, and doesn't have a wallet for cryptos, you would give him more of a problem than money.
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For example, I steal 10,000 USD from a bank, I then buy bitcoins with all
the money on localbitcoins or with other p2p cash trades. Eventually, I will
have around 10,000 USD converted into bitcoins. I then use those bitcoins to buy
other altcoins to mix them more, possibly monero, and then reconvert back into
bitcoins, where I now sell those bitcoins on localbitcoins or other p2p cash trades.
When I receive new money that is not associated with the original 10,000 USD,
I have "laundered" that money.
Besides committing the original crime, laundering would be an additional crime.
Actually, there's no laundering in your scheme. It's dirty money at the beginning, and it's still dirty at the end. Mixing is useless. To launder the money, it would require to make it pass through some kind of legitimate business. Imagine you create a carpet cleaning company, or that you are a mechanic making oil changes. Your income for a given month is $1,000 but you add the $10,000 in BTC, and you fill tax forms telling your income was $11,000. This is money laundering, because the money now looks like normal income from a registered company. No, you are mistaken. You do not need go through a business' taxes for laundering. Laundering is the act of attempting to convert "tainted money" into "non-tainted" money. It is the attempt/performance of the act itself, not the success of the act. If I have dirty money, buy bitcoins p2p and sell those coins p2p for fiat in another location, when I receive new fiat from a new individual, that is not associated with the original crime, it is laundering. For example, I steal 10,000 USD from a bank, I then buy bitcoins with all
the money on localbitcoins or withs not associated with the original 10,000 USD,
I have "laundered" that money.
No! I'll be very precise. Laundering money is giving money of illegal origin a clean origin. Buying BTC or cryptos, and mixing cannot launder money. Having laundered money is being able to go to a bank with a thick stack of banknotes, the teller asks you where the money is from, and you have an explanation to give him which he will believe. If you cannot answer the banker's questions about the origin of the money, it has not been laundered. |
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Haven't you seen all the topics about faucets? About the games where you have to watch one zillion advertisements during 2 full hours to earn $0.50 worth of BTC?
Has anyone seen Bill Gates using faucets?
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For example, I steal 10,000 USD from a bank, I then buy bitcoins with all
the money on localbitcoins or with other p2p cash trades. Eventually, I will
have around 10,000 USD converted into bitcoins. I then use those bitcoins to buy
other altcoins to mix them more, possibly monero, and then reconvert back into
bitcoins, where I now sell those bitcoins on localbitcoins or other p2p cash trades.
When I receive new money that is not associated with the original 10,000 USD,
I have "laundered" that money.
Besides committing the original crime, laundering would be an additional crime.
Actually, there's no laundering in your scheme. It's dirty money at the beginning, and it's still dirty at the end. Mixing is useless. To launder the money, it would require to make it pass through some kind of legitimate business. Imagine you create a carpet cleaning company, or that you are a mechanic making oil changes. Your income for a given month is $1,000 but you add the $10,000 in BTC, and you fill tax forms telling your income was $11,000. This is money laundering, because the money now looks like normal income from a registered company. |
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... Then people start to get interested in it...
NO! There are hundreds of altcoins already. It's most likely that nobody would be interested if you create a new one. |
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If you open a bank account in a foreign country, it's most likely that because of automatic information exchange between countries, your country will immediately be notified. There are already 100 countries collaborating this way, with more to join soon. But why do you want to open a bank account?
Just pay with BTC, and your problem's fixed.
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HEY! Have you ever heard of a "fee-less" investment?
Whatever you put your money in, stocks or gold, there is a fee.
Check the fees to buy shares from a company listed on NASDAQ, you'll be surprised. Nothing's free in this world.
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I'm amazed to read on Wikipedia that Spain is less dangerous than South Korea. My experiences are telling the opposite.
Japan's probably the safest country in the world, thanks to its aging population. Switzerland used to be fantastically peaceful, but some of its neighbors aren't and the borders are easy to cross.
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