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Author Topic: Money laundering via BTC  (Read 26312 times)
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January 22, 2017, 05:07:34 PM
 #281

Very simple stuff. Create business, build business, accept btc and buy your own service with your own btc. Pay the small amount of tax and you have clean money. One simple method of hundreds or thousands out there.
Lol it looks like you've experienced to eliminate the traces after carrying out illegal activities. indeed with bitcoin you can do the laundering of money, so that you will avoid taxes or else
It is not that easy, someone that look at the blockchain will see all the transactions come from the very same address and will realize that either someone is buying your service over and over again or you are the one doing it.



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January 22, 2017, 06:11:13 PM
 #282

Bitcoin being used to launder money is a media myth.

Like Trump being a nazi.

 Smiley

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January 22, 2017, 08:08:14 PM
 #283

Very simple stuff. Create business, build business, accept btc and buy your own service with your own btc. Pay the small amount of tax and you have clean money. One simple method of hundreds or thousands out there.
Lol it looks like you've experienced to eliminate the traces after carrying out illegal activities. indeed with bitcoin you can do the laundering of money, so that you will avoid taxes or else
It is not that easy, someone that look at the blockchain will see all the transactions come from the very same address and will realize that either someone is buying your service over and over again or you are the one doing it.

perhaps you should have read my post earlier in this thread that is actually based in fact and not people talking out of their ass, it is easy, it is possible and it completely prevents direct prosecution

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January 22, 2017, 08:25:25 PM
 #284

ofcourse its possible, but thats not what btc is ment for like all the oldschool people think..
I am not sure what old school people think. How is it possible to launder a huge amount of money if it is done through an exchange.

Bitcoin being used to launder money is a media myth.

Like Trump being a nazi.

 Smiley
It is not entirely a myth,but you can send a receive small amount of money without raising a red flag but laundering huge amount of money is literally impossible.



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morantis
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January 22, 2017, 08:33:28 PM
 #285

ofcourse its possible, but thats not what btc is ment for like all the oldschool people think..
I am not sure what old school people think. How is it possible to launder a huge amount of money if it is done through an exchange.

Bitcoin being used to launder money is a media myth.

Like Trump being a nazi.

 Smiley
It is not entirely a myth,but you can send a receive small amount of money without raising a red flag but laundering huge amount of money is literally impossible.

wow, read my posts!  bitcoin has been legally labeled as a commodity and while you raise a great deal of attention and your name is all over it, if you just buy the bitcoins outright, then you have left the crime of money laundering behind

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January 22, 2017, 08:50:27 PM
 #286

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Any currency is capable of being used to launder black money, providing the motivation is there.  However, bitcoin may be a little less effective in laundering than cash.  Don't ignore the fact that bitcoin transactions are published publicly.....With the more robust blockchain analytic software suites arising on the market, it is increasingly becoming easier to trace transactions back thru the ledger and into the popular fiat markets....Cash, is by far, the most effective means to launder money....bitcoin isn't as suited for the practice as some may suggest.
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January 23, 2017, 01:22:36 AM
 #287

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Any currency is capable of being used to launder black money, providing the motivation is there.  However, bitcoin may be a little less effective in laundering than cash.  Don't ignore the fact that bitcoin transactions are published publicly.....With the more robust blockchain analytic software suites arising on the market, it is increasingly becoming easier to trace transactions back thru the ledger and into the popular fiat markets....Cash, is by far, the most effective means to launder money....bitcoin isn't as suited for the practice as some may suggest.

intrinsic marked gold coin cannot be used to launder money, as the purchase and the sale can only be made through a government control office. and once a fiat to bitcoin xfer is made, the charges would no longer be money laundering, so as the way the OP was worded, that makes it easy through bitcoin

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January 23, 2017, 01:32:22 AM
 #288

Bitcoin being used to launder money is a media myth.
Like Trump being a nazi.
 Smiley

Ha ha... There are people who launder money using bitcoins, just like they launder money through every single avenue available to them. The problem is not Bitcoin, the problem is money launderers.
Trump being a Nazi is a plain lie that some media outlets would like to believe.


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January 23, 2017, 01:37:08 AM
 #289

Bitcoin being used to launder money is a media myth.
Like Trump being a nazi.
 Smiley

Ha ha... There are people who launder money using bitcoins, just like they launder money through every single avenue available to them. The problem is not Bitcoin, the problem is money launderers.
Trump being a Nazi is a plain lie that some media outlets would like to believe.

just ignore hydrogen, the post reply was simply made to attract attention and create drama, best to ignore those and stay on topic.  no one is stupid enough to believe that is a myth, based even solely on the high profile, public silk road case.  there are plenty of threads that he can try to get attention on

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January 23, 2017, 01:41:39 AM
 #290

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?
Money laundering is possible using bitcoin since it was used anonymously. It can be laundered through gambling site, and trading site. However, even in the fiat momey, money laundering is easy to do. It is difficult to be caught since it was made with many transaction and it is hard to trace where the money went unless you spend much focus on it. Bitcoin makes money laundering since it is hassle free. That's the reason why bitcoin is used as mode of money in black market. There os nothing to stop in money laundering, even the government can't stop it.

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Botnake
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January 23, 2017, 03:11:49 AM
 #291

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?
Money laundering is possible using bitcoin since it was used anonymously. It can be laundered through gambling site, and trading site. However, even in the fiat momey, money laundering is easy to do. It is difficult to be caught since it was made with many transaction and it is hard to trace where the money went unless you spend much focus on it. Bitcoin makes money laundering since it is hassle free. That's the reason why bitcoin is used as mode of money in black market. There os nothing to stop in money laundering, even the government can't stop it.
Anything that counts as money can be use in Money Laundering, it's an illegal activities and therefore punishable by law. It's easy to launder if you are using bitcoin but don't expect you will not be caught if they work on you.

It's not good to create crime here since the system of bitcoin is very transparent and you will be trace if they look unto details of your account. Everything will end up in exchange sites, they will just have to impose it to supply them necessary information that would lead to your possible arrest.

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morantis
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January 23, 2017, 04:01:06 AM
 #292

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?
Money laundering is possible using bitcoin since it was used anonymously. It can be laundered through gambling site, and trading site. However, even in the fiat momey, money laundering is easy to do. It is difficult to be caught since it was made with many transaction and it is hard to trace where the money went unless you spend much focus on it. Bitcoin makes money laundering since it is hassle free. That's the reason why bitcoin is used as mode of money in black market. There os nothing to stop in money laundering, even the government can't stop it.
Anything that counts as money can be use in Money Laundering, it's an illegal activities and therefore punishable by law. It's easy to launder if you are using bitcoin but don't expect you will not be caught if they work on you.

It's not good to create crime here since the system of bitcoin is very transparent and you will be trace if they look unto details of your account. Everything will end up in exchange sites, they will just have to impose it to supply them necessary information that would lead to your possible arrest.

why does no one read anything on a thread before posting.....i CLEARLY passed along the exact tone and measure of the LAW and people just keep posting with opinions and guesswork that is for the most part in direct opposition to the laws that i quoted

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January 23, 2017, 04:05:19 AM
 #293

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

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January 23, 2017, 06:16:19 AM
 #294

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

There are actually a lot of factors that a certain act can be considered as money laundering

 Lets put it simple for you. If your act is not acceptable by law and it involves money then you are already doing it

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January 23, 2017, 06:18:06 AM
 #295

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

That is not only what bitcoin laundering is. It involves having money in any form on which tax has not been paid on. If someone is holding or trading their bitcoins , but have never declared the source, then they are money laundering as well.


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morantis
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January 23, 2017, 06:19:21 AM
 #296

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

There are actually a lot of factors that a certain act can be considered as money laundering

 Lets put it simple for you. If your act is not acceptable by law and it involves money then you are already doing it

what laws are you basing your reply on?  they seem to be a lot different than the US Statutes that I posted yesterday.

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btcdiggingmaster
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January 23, 2017, 06:23:14 AM
 #297

Very simple stuff. Create business, build business, accept btc and buy your own service with your own btc. Pay the small amount of tax and you have clean money. One simple method of hundreds or thousands out there.
Lol it looks like you've experienced to eliminate the traces after carrying out illegal activities. indeed with bitcoin you can do the laundering of money, so that you will avoid taxes or else
It is not that easy, someone that look at the blockchain will see all the transactions come from the very same address and will realize that either someone is buying your service over and over again or you are the one doing it.

See every time the person will not send through the same address he has the ability to change it different address in order to do multiple transaction, how can people will identify if he keep on changing multiple address means, these thing should be take care so that we can control money laundering through bitcoin.


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chixka000
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January 23, 2017, 06:43:02 AM
 #298

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

There are actually a lot of factors that a certain act can be considered as money laundering

 Lets put it simple for you. If your act is not acceptable by law and it involves money then you are already doing it

what laws are you basing your reply on?  they seem to be a lot different than the US Statutes that I posted yesterday.

Oh sorry for that, anyways to clarify you right those are a lot different because i was actually referring to laws of your country(so obviously means that it is different from others) and as well as a rule of your god

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morantis
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January 23, 2017, 06:45:32 AM
 #299

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

There are actually a lot of factors that a certain act can be considered as money laundering

 Lets put it simple for you. If your act is not acceptable by law and it involves money then you are already doing it

what laws are you basing your reply on?  they seem to be a lot different than the US Statutes that I posted yesterday.

Oh sorry for that, anyways to clarify you right those are a lot different because i was actually referring to laws of your country(so obviously means that it is different from others) and as well as a rule of your god

well, yeah, i actually looked at the location of the OP too, figured that might have been the location they were referring to and not some other country that they may magically get transported to

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January 23, 2017, 06:54:19 AM
 #300

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

That is not only what bitcoin laundering is. It involves having money in any form on which tax has not been paid on. If someone is holding or trading their bitcoins , but have never declared the source, then they are money laundering as well.
a lot of people have done this to avoid tax yupp ,
there is no harm to do that actually since there always a difference point of view about tax ,
some people think that tax are not necessary to be done by government ,
btw there a lot of people do money laundering on giftcard too .

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