money laundering

[bitfancier]

is bitcoin open way forward money launderer to get safe money,i asked that because its appear that bitcoins is verry hard to control or track

As already said, it's not that hard to track.

There're other coins that declare being untraceable, but as far as I know, any bitcoin-based coin is easy to track. It's considered that cryptonote coins' transactions, though, are really imppossible to track  

[DARKCHANGE]

Well, Bitcoin itself isn't really usable for money laundering, as any transaction is traceable, especially if an exchange hands over informations about a wallet which is linked to a verified customer.
But using bitcoin mixing services there is a good chance to get the coins back "cleaned".

And then you would need to use so-called offshore debit cards to get the Bitcoins into money, as I don't guess you want it to withdraw to your real bank account.

[CryptoTrout]

its not hard to track transactions and probably much easier than most think to associate an address with most users

[AtheistAKASaneBrain]

is bitcoin open way forward money launderer to get safe money,i asked that because its appear that bitcoins is verry hard to control or track

As already said, it's not that hard to track.

There're other coins that declare being untraceable, but as far as I know, any bitcoin-based coin is easy to track. It's considered that cryptonote coins' transactions, though, are really imppossible to track  

But to access cryptonote coins (namely Monero) you still need Bitcoin, and the Bitcoin transaction where you bought Monero with would still show up, so whats the point. Unless the Monero coins you have were mined, their origin will most likely be trade for BTC in some exchange.

[aso118]

Is the dirty money in BTC?

If that is true, laundering should be very easy.
Just send it to one of the mixers around and then tracing the origin of the funds will become very difficult.

[Amph]

its not hard to track transactions and probably much easier than most think to associate an address with most users

how you can do it? it's not easy at all, tracking back to the original address it's possible, maybe even when those addresses are mixed, but associating it to a specific person/users is another different story

is bitcoin open way forward money launderer to get safe money,i asked that because its appear that bitcoins is verry hard to control or track

As already said, it's not that hard to track.

There're other coins that declare being untraceable, but as far as I know, any bitcoin-based coin is easy to track. It's considered that cryptonote coins' transactions, though, are really imppossible to track  

But to access cryptonote coins (namely Monero) you still need Bitcoin, and the Bitcoin transaction where you bought Monero with would still show up, so whats the point. Unless the Monero coins you have were mined, their origin will most likely be trade for BTC in some exchange.

you can mine cryptonote at launch, they are affordable, with a gpu like 970/980, then convert that in bitcoin, simple

[dinofelis]

is bitcoin open way forward money launderer to get safe money,i asked that because its appear that bitcoins is verry hard to control or track

As already said, it's not that hard to track.

There're other coins that declare being untraceable, but as far as I know, any bitcoin-based coin is easy to track. It's considered that cryptonote coins' transactions, though, are really imppossible to track  

But to access cryptonote coins (namely Monero) you still need Bitcoin, and the Bitcoin transaction where you bought Monero with would still show up, so whats the point. Unless the Monero coins you have were mined, their origin will most likely be trade for BTC in some exchange.

The point is probably that after that, you cannot follow the monero coins any more.  That's the point.  Of course you can see that a guy deposited half a million $ in an exchange to get bitcoins.  Then you can trace those bitcoins to an exchange that has monero on its list.  And from there on, you don't know anything any more of where that money went, contrary to the bitcoin block chain.

That's the advantage of cryptonote in my eyes. 

Suppose that someone wants to buy, say, a famous painting, and keep that hidden.  He can now take some money from his bank account, and put it on an exchange, and buy some bitcoin with it.  That's traceable.  Then he can put those bitcoin on another exchange, that's still traceable.  There he can exchange them for monero.  And then the track is lost.

The seller of the painting can now receive monero from the buyer.  Nobody will be able to link that to the other guy's address.  That's the whole point of cryptonote.  Of course, this guy now has a problem: how to get dollars out of his monero ?
He can convert them to bitcoin on an exchange, and exchange them to dollars.  Of course, questions can be asked of where did he get that money.  But nobody will be able to trace the monero transaction and link it to the painting.  Unless of course, the guy selling it, tells authorities.
But what can also happen, is that that guy buys something else with bitcoin or monero.  For instance, drugs.  As such, he doesn't need to get back to the dollar.  He could get his monero or bitcoin from trading a painting, and could get drugs in place, without this being traceable. 

[thejaytiesto]

its not hard to track transactions and probably much easier than most think to associate an address with most users

how you can do it? it's not easy at all, tracking back to the original address it's possible, maybe even when those addresses are mixed, but associating it to a specific person/users is another different story

is bitcoin open way forward money launderer to get safe money,i asked that because its appear that bitcoins is verry hard to control or track

As already said, it's not that hard to track.

There're other coins that declare being untraceable, but as far as I know, any bitcoin-based coin is easy to track. It's considered that cryptonote coins' transactions, though, are really imppossible to track  

But to access cryptonote coins (namely Monero) you still need Bitcoin, and the Bitcoin transaction where you bought Monero with would still show up, so whats the point. Unless the Monero coins you have were mined, their origin will most likely be trade for BTC in some exchange.

you can mine cryptonote at launch, they are affordable, with a gpu like 970/980, then convert that in bitcoin, simple

Yeah so simple, except thats stupid since it will be nonviable after a while, just like its nonviable to mine Bitcoin as a single entitiy now.
"Hey, if you want to use Monero, the only way to do it anonymously is by mining them". Don't you see that is pointless. 

[thejaytiesto]

is bitcoin open way forward money launderer to get safe money,i asked that because its appear that bitcoins is verry hard to control or track

As already said, it's not that hard to track.

There're other coins that declare being untraceable, but as far as I know, any bitcoin-based coin is easy to track. It's considered that cryptonote coins' transactions, though, are really imppossible to track  

But to access cryptonote coins (namely Monero) you still need Bitcoin, and the Bitcoin transaction where you bought Monero with would still show up, so whats the point. Unless the Monero coins you have were mined, their origin will most likely be trade for BTC in some exchange.

The point is probably that after that, you cannot follow the monero coins any more.  That's the point.  Of course you can see that a guy deposited half a million $ in an exchange to get bitcoins.  Then you can trace those bitcoins to an exchange that has monero on its list.  And from there on, you don't know anything any more of where that money went, contrary to the bitcoin block chain.

And thats why the authorities would follow by asking, "where did that million dollars that went into X exchange then to XMR ended up at?"
You better have a convincing answer, but chances are you'll not.

[Meuh6879]

bitcoins is verry hard to control or track

politics are hard to control or track.

[redsn0w]

is bitcoin open way forward money launderer to get safe money,i asked that because its appear that bitcoins is verry hard to control or track

As already said, it's not that hard to track.

There're other coins that declare being untraceable, but as far as I know, any bitcoin-based coin is easy to track. It's considered that cryptonote coins' transactions, though, are really imppossible to track  

But to access cryptonote coins (namely Monero) you still need Bitcoin, and the Bitcoin transaction where you bought Monero with would still show up, so whats the point. Unless the Monero coins you have were mined, their origin will most likely be trade for BTC in some exchange.

The point is probably that after that, you cannot follow the monero coins any more.  That's the point.  Of course you can see that a guy deposited half a million $ in an exchange to get bitcoins.  Then you can trace those bitcoins to an exchange that has monero on its list.  And from there on, you don't know anything any more of where that money went, contrary to the bitcoin block chain.

And thats why the authorities would follow by asking, "where did that million dollars that went into X exchange then to XMR ended up at?"
You better have a convincing answer, but chances are you'll not.

Bitcoin is pseudoAnonym and Monero is not very "anonymous" (in respect of  BTC). The problem will be always the FIAT money deposited in the exchange, unless you mine bitcoin or all the other cryptocurrency directly .

OP, if you want to "launder" some dollars , then bitcoin is a good way... because you can still sell your dollars (cash) to someone that is available to buy $$ for bitcoin.

[dothebeats]

is bitcoin open way forward money launderer to get safe money,i asked that because its appear that bitcoins is verry hard to control or track

Yes, bitcoin is an easy medium on money laundering, but that doesn't mean that you won't get tracked with your activities. Taint analysis helps track where the coins go after a certain transaction until it stops. The hard thing is, even if you kept track of coins and managed to locate the last address it landed, you'll still get a rough time on linking the address towards a certain person or user.

[Benjig]

There is nothing more confident than being legit, Really bad bussines at minimum gives you 30% in utilities. Of course every succesful business has its dark side, so we can easily say that the person that has lots of any kind of money is synonymous of sinner and peccant. But I prefer being a sinner inside the limits of law.

[mrhelpful]

You cant escape the laundering since the main purpose is to move large sums of cash to supplement another business or for something else.

The coins really do their job, as long it retains their value at a constant rate but thats the only impractile thing about for some druglord to use it.

But, if the coin value tanks, then they`ll just have to force their old ways. Like stuffing money into various places.

[dinofelis]

And thats why the authorities would follow by asking, "where did that million dollars that went into X exchange then to XMR ended up at?"
You better have a convincing answer, but chances are you'll not.

I played around with it, and then my computer crashed, and I lost my keys  
Them I tried to call Monero Bank for them to issue me new keys, but I couldn't reach them 

[techgeek]

As long their are forms of gambling the casinos are a perfect for people to launder their drug money.

Its pretty shady as hell too, cause I actually noticed some of these gambling sites outside from the bitcoin scene they require youre last 4 ssn.

Like what the hell? talk about identity theft included lol.

[jjacob]

I played around with it, and then my computer crashed, and I lost my keys  
Them I tried to call Monero Bank for them to issue me new keys, but I couldn't reach them 

If you have paid your taxes, they really won't bother.
If you owe the tax department money, they will sell the shirt off your back to recover their dues. 

[bryant.coleman]

If you take all the necessary precautions, and stay away from unnecessary things, then Bitcoin can be a quite efficient tool for money laundering. Keep a low profile, stay out of trouble, get quality legal support and keep your fiat in the form of hard cash. Whenever you convert your BTC to fiat, do that anonymously, without involving cash transfers to your bank savings account.

[Kprawn]

The shady people in fiat money laundering, force people at gunpoint to open bank accounts for them. They kidnap their kids or wife for leverage.

There are even poor people getting paid to take the heat for the use of their identity.

What is stopping the same people to do this with ANY other currency? You cannot change the human behaviour behind ANY technology. 

So let's just leave this whole money laundering thing connected to Bitcoins... It's possible on ANY currency.

[jbrnt]

Money laundering in fiat is being done everyday before bitcoin was invented. The easy part is moving money around. The difficult part is accumulating the pile of cleaned money into legit books again. If successful launders can clean millions in fiat, they can certainly do it for bitcoin too. Bitcoin doesn't make it easier, it is just one of many laundering methods.