Bitcoin Forum
April 26, 2024, 05:47:19 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Could a Labrador sniff out Bitcoins?  (Read 1169 times)
Cluster2k (OP)
Legendary
*
Offline Offline

Activity: 1692
Merit: 1018



View Profile
August 13, 2012, 06:10:18 AM
 #1

Seems like an ideal, if legally questionable, use for Bitcoins.


http://www.smh.com.au/world/nose-for-money--labradors-hone-in-on-hidden-fortunes-20120813-244at.html

Police cracking down on tax dodgers smuggling cash out of Italy in their shoes, underwear and even cigarettes have announced a steep increase in seizures, thanks in part to the use of labradors trained to sniff out bank notes.

In the first seven months of 2012, police at ports, airports and border crossings seized 41 million euros ($47 million) - up 78 per cent year on year - from travellers trying to avoid creeping austerity taxes in Italy.

1714153639
Hero Member
*
Offline Offline

Posts: 1714153639

View Profile Personal Message (Offline)

Ignore
1714153639
Reply with quote  #2

1714153639
Report to moderator
1714153639
Hero Member
*
Offline Offline

Posts: 1714153639

View Profile Personal Message (Offline)

Ignore
1714153639
Reply with quote  #2

1714153639
Report to moderator
1714153639
Hero Member
*
Offline Offline

Posts: 1714153639

View Profile Personal Message (Offline)

Ignore
1714153639
Reply with quote  #2

1714153639
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714153639
Hero Member
*
Offline Offline

Posts: 1714153639

View Profile Personal Message (Offline)

Ignore
1714153639
Reply with quote  #2

1714153639
Report to moderator
1714153639
Hero Member
*
Offline Offline

Posts: 1714153639

View Profile Personal Message (Offline)

Ignore
1714153639
Reply with quote  #2

1714153639
Report to moderator
1714153639
Hero Member
*
Offline Offline

Posts: 1714153639

View Profile Personal Message (Offline)

Ignore
1714153639
Reply with quote  #2

1714153639
Report to moderator
ArticMine
Legendary
*
Offline Offline

Activity: 2282
Merit: 1050


Monero Core Team


View Profile
August 13, 2012, 08:28:06 PM
 #2

Dogs are not going to sniff out the Bitcoins but blockchain analysis combined with more traditional methods such as disgruntled former spouses, employees, partners, clients etc should do the trick for the tax auditors.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
n8rwJeTt8TrrLKPa55eU
Hero Member
*****
Offline Offline

Activity: 588
Merit: 500



View Profile
August 13, 2012, 10:25:07 PM
Last edit: August 13, 2012, 11:07:30 PM by n8rwJeTt8TrrLKPa55eU
 #3

The currency border control trend is not just taking place in Europe, but also South America and USA:

Argentina's Dollar-Sniffing Dogs
http://www.businessweek.com/magazine/argentinas-dollarsniffing-dogs-01122012.html

TSA Searches For Large Sums Of Cash
http://boardingarea.com/blogs/flyingwithfish/2011/03/28/tsa-searches-for-large-sums-of-cash-why-its-wrong/
http://www.aviationattorneys.com/legal-advice/arrested-for-large-amount-cash-on-airplane

This trend will generate massive demand for Bitcoin, IMHO.  Billions (trillions?) in accumulated wealth worldwide, wanting to become anonymous and mobile as economies crash and governments become more authoritarian.  If you knew there was a risk of your currency devaluing by 50% overnight, or a draconian wealth tax being introduced, how much would you pay to convert your assets to Bitcoin?  Fear is the most powerful motivator of all...I predict that at some point, the entire ask side of the MtGox orderbook will get taken out, but this time it won't be due to a software glitch, it will be some Greek shipping magnate yelling to one of their lackeys "SELL THE PICASSO. PUT THE PROCEEDS INTO BITCOINS. NOW. AT ANY PRICE".
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!