I assumed this is in response the the mtgox/dwolla account seizure, cuz that is what that was about. What else can it be? Ah ok, I thought you were saying that money laundering laws weren't regulations!  |
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Back on topic. The daily chart looks to have a bullish triangle with higher lows. Breakout coming, anyone?  I don't see it. Could you draw it?  |
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now if i could only order a BTC pizza in canada... Interesting. I sense a business opportunity.  |
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Wow, one of the few instances of the last years where our politicians aren't sucking Obama's... Anyhow, good news. |
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Proven? You are using words very lightly, kid.
No I'm not. I explained how laundering works, then explained how bitcoins make it better. No you didn't. "<Money laundering explanation>... and then it's easier with bitcoin." You're missing the WHY. Why is it easier with Bitcoin? You started by saying Bitcoin can't be traced, contrary to cash (which isn't true): I bet a few years ago you would have been impressed to see an anonymous, global, laundering system get accepted by the public...
You mean like cash? Nope. Cash can be traced. That's why laundering exists. And then you explain your laundering scheme: And then the tax guys ask what income or funds you used to buy all that stuff. I'm not sure about other jurisdictions but here if you cannot or will not answer that question conclusively you lose. It's sad but they switched it from innocent till proven guilty to the other way around.
And you say that you got it from your store, say you bought it and show some transactions. If you have your own bitcoin company and millions of dollars in coins, you can afford to put those coins in a few different countries, and have people buy stuff from you slowly with your own coins so you get all your money back. All of it would look completely legal... This is how laundering works. But as I have been trying to point out, it's just better with bitcoins. I know how laundering works. What I'm not getting is how it would be easier with bitcoins. "if you have your own bitcoin company and millions of dollars in coins..." If I had my own dollars company and millions of dollars in cash, I don't see how it would be different. |
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I stand corrected. Appologies for making such a conclusive statement without checking my facts. I thought it was another silly American who didnt understand the prefixes. I actually should have known this even without looking it up. Btw: Does anyone know did SI chose this? Question answered here. (I don't link the exact time, because the video is worth watching  ) Edit: Haha! Sucked in! |
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You know you sound like scammers, right? (If looked from the outside at least.) "Let's get moar people to buy!" |
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Go home Chartbuddy, you're drunk! |
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I never felt this need with gold BTW.
As a store of value, some things are better seen as expensive.
Ie: "oh noes, gold is $1000+ an ounce ... better talk in grams!"
This makes no sense. Why not use Kilo then, since that is the standard unit? I would like to. Unfortunately most of continental America uses ounce.  (When talking about PMs) Edit: BTW, this site shows kilogram as the first price. |
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Yes it does. Time to bring back the Lisp machine. |
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I see Bitcoin as a tool to facilitate moving money around (across borders, for example).
But I don't see how it makes it easier to launder money.
And that's without the fact that presently the market is way too small for that.
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I think you're are conflating cash with payment systems.
Maybe you don't really understand what laundering is. (...) What laundering does is to legitimize dirty money INTO the financial system as a legitimate income. (...) Now going back to the question: does the bitcoins help in laundering? absolutely yes. How? If I have a million bucks worth of bitcoin, how can I move it into the financial system as legitimate income, more easily than with cash?  |
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I never felt this need with gold BTW.
As a store of value, some things are better seen as expensive.
Ie: "oh noes, gold is $1000+ an ounce ... better talk in grams!"
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I think you're are conflating cash with payment systems.
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Ok, would you mind detailing how Bitcoin is more efficient/suited at laundering money than cash?
Otherwise I have the impression that I'll have to ask you to re-define everything.
(For example the traceability issue. Bitcoin is the pinnacle of traceability.)
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What do you mean the coins can't be traced? They can be traced to their creation! |
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Do you not remember the price climbing coincidentally after that?
The price movement had already started before the Chinese event. Since the crash, the only news that somewhat influenced the price was the MtGox/Dwolla incident. And even then, the price movement was really lame. |
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I bet a few years ago you would have been impressed to see an anonymous, global, laundering system get accepted by the public...
You mean like cash? Nope. Cash can be traced. That's why laundering exists. Why do you think there's mixing services for bitcoins? |
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