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Author Topic: 2012-12-18 CNN.com Bitcoin looks primed for money laundering  (Read 6302 times)
julz
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December 20, 2012, 08:29:57 PM
 #41

This story also in the Chinese media: http://www.fortunechina.com/business/c/2012-12/20/content_134680_3.htm

@electricwings   BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
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Yankee (BitInstant)
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December 20, 2012, 08:30:22 PM
 #42

Here is me pretty much bashing the author on twitter https://twitter.com/csanati/status/281850206838996992

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@CharlieShrem @sebicas Lies? I am not in the disinformation business. If I made a mistake, please be specific. I spent days researching

I guess he was assigned the task by a supervisor which basically said: Hear, this bitcoin stuff, our owners don't like it, write some negative piece on it.

Yeh! You should tweet that to him

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
Herodes
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December 20, 2012, 08:33:15 PM
 #43

Here is me pretty much bashing the author on twitter https://twitter.com/csanati/status/281850206838996992

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@CharlieShrem @sebicas Lies? I am not in the disinformation business. If I made a mistake, please be specific. I spent days researching

I guess he was assigned the task by a supervisor which basically said: Hear, this bitcoin stuff, our owners don't like it, write some negative piece on it.

Yeh! You should tweet that to him

I'm not on twitter, else I would. I noticed he stopped responding to the tweets. Will be interesting if he makes an answer later on.
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March 09, 2013, 12:59:07 PM
 #44

 2013-03-09 Bitcointalk.org CNN looks primed for brain washing of the ignorant masses.
Monster Tent
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March 09, 2013, 01:10:48 PM
 #45

The funny part is no bitcoin service has ever been charged with money laundering. If bitcoin was a company it could sue cnn for slander  Tongue

Gabi
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March 09, 2013, 01:23:55 PM
 #46

But but but the iranian nuclear project!!!!!!  Shocked Shocked Shocked bitcoin help them?Huh bad bad bad!!!!

(am i doing it right?  Cheesy)

mikegogulski
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March 09, 2013, 02:37:08 PM
 #47

Dear Mike,

I'm glad I was able to find you on this site.  I've been having problems with your applications.

Firstly, I made a 1 BTC transaction on your bitcoinlaundry.com site.  The fees were deducted, but I was simply relayed the BTC with no hops for obfuscation.  I don't mind making a donation to you on a 1 BTC transfer, but the site provided no utility.
Hi there.

bitcoinlaundry.com is a *very* simple mixer. Your BTC in is one hop, other BTC out to the address you provide is a second hop. There are other mixer services that use multiple wallets, but mine don't as yet.
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Secondly, I tried a 1.42 BTC transaction on your app.bitlaundry.com application.  I sent it to two addresses, with one transaction per day, and a 1-day timeframe.  Therefore, under your site's calculus, I should have incurred a fee of approximately (1.42 BTC*.0249)+2 outgoing transactions * (.009 BTC) = ~0.05BTC, and I should have received the balance at the two addresses provided.

Instead, it has been 24 hours and I have yet to receive a notification of a pending transfer to either address, let alone any confirmations.  

Please see this image, which serves as proof that I sent the 1.42 BTC to the temporary address you provided, and that you have already transferred the money out from that address as well.

I know that you have a positive reputation and a posting history on this site, so I hope that you can help me rectify this situation.  If you would prefer to do so via PM or email instead of a public forum, feel free to PM me a response, or shoot me an email.

Thanks much,
q6

Without trying to do the time zone gymnastics required to sort out the various logs and such, I do see:

txid 8463aebf3aca1fa4ace80802f66fb03aa4142969a54a0989432406775ea7c969

and

txid 0cc5fdce435249c548a38abe49c3695039984bd22fa5f0f21bc2ca926c594785

which are the payments on your scheme. These were issued at around 17 and 20 hours after your funding transaction reached 10 confirmations. I think this translates to approximately 1 and 4 hours after your message here, respectively Smiley

The 1.33... transaction from your scheme address went to a different user, which is kinda the whole idea.

I saw mention from Gavin (https://bitcoinfoundation.org/blog/?p=135) that some transactions in the past week have taken extra long to confirm due to the network transaction volume sometimes exceeding the 250kB/block size limit, so this may have added some delay to your scheme. I try to minimize my logging, so I can't tell exactly, but it looks like your tx took about 2.5 hours to reach 10 confirmations.

All good?

Peace,
Mike


FREE ROSS ULBRICHT, allegedly one of the Dread Pirates Roberts of the Silk Road
mikegogulski
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March 09, 2013, 02:38:56 PM
 #48

The funny part is no bitcoin service has ever been charged with money laundering.

...yet. My lawyer and I await my indictment.

FREE ROSS ULBRICHT, allegedly one of the Dread Pirates Roberts of the Silk Road
Herodes
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March 09, 2013, 06:41:12 PM
 #49

The funny part is no bitcoin service has ever been charged with money laundering. If bitcoin was a company it could sue cnn for slander  Tongue

Perhaps the bitcoin foundation should do that. I would support that. With bitcoins.
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March 09, 2013, 07:46:52 PM
 #50

Great - thanks for the response Mike - I really appreciate it.  Makes sense, as confirmations have indeed been taking longer than usual and I didn't realize it required 10 on the initial transfer.  Thanks again and keep fighting the good fight!


I saw mention from Gavin (https://bitcoinfoundation.org/blog/?p=135) that some transactions in the past week have taken extra long to confirm due to the network transaction volume sometimes exceeding the 250kB/block size limit, so this may have added some delay to your scheme. I try to minimize my logging, so I can't tell exactly, but it looks like your tx took about 2.5 hours to reach 10 confirmations.

All good?

Peace,
Mike


marcus_of_augustus
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March 09, 2013, 10:10:38 PM
 #51

Bitcoin cannot "launder" money because it is not money, it is Bitcoin.

It is as simple as that, the state has decided, and made legal, what is "money" and it is not bitcoin. The legal cage designed by the statists to keep the inmates in, has now become a money prison of their own making for the statists.

blablahblah
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March 09, 2013, 11:39:34 PM
 #52

...
If you dig Bitcoin you are smarter than average....

I hope so! Well at least the vigorous rebuttals in the comment section help to restore my faith in humanity! Smiley
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March 10, 2013, 11:35:48 PM
 #53

Bitcoin cannot "launder" money because it is money.
FTFY Wink
USD cannot launder money, and neither can JPY.

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
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