uberwala
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July 08, 2018, 07:27:20 PM |
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Money laundering can be done with any asset. I got to say that since bitcoin is an asset, it is widely used by people to launder money. Money laundering is done by people who know the laws inside out as they are the ones who find loopholes in the existing system and take advantage of it.
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AntiMage007
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July 08, 2018, 07:43:04 PM |
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Bitcoins may not be ideal for money laundering, because all transactions are public. But Most of the Authorities have expressed concerns that bitcoin may be used for money laundering Because no anyone controls the BTC network and Transactions is Unknown
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Delinquency
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July 08, 2018, 07:50:34 PM |
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There are a lot of topics about "dirty money with bitcoin". Just think about it: Was there "money laundering" before bitcoin? Of course it was. Bad people always find a way to cover their dirty business. Paris SG gave 220 million euros for Neymar. Or all Chinese and Katar clubs big transfers. Do you really believe that? I can't. They are doing "money laundering" in front of all world. Of course it's possible money laundering with BTC as it's possible as many other ways.
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cizatext
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July 08, 2018, 07:54:37 PM |
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It very possible to launder money using bitcoin in fact bitcoin is the best tool for money laundering and that is one of the reasons most government and countries are against the idea of bitcoin and due to bitcoin being a decentralized currency it very hard or even impossible for it to be trace, so corrupt government officials will take advantage of that and use bitcoin to steal money out of they country without trace.
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bapetdik
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July 08, 2018, 08:15:54 PM |
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Yes it is possible. Money laundering is one of the reasons why the government forbids bitcoin. I think the person doing the money laundering is a negative person. So we can not blame the bitcoin because the wrong person is the individual. Keep positive thinking about bitcoin.
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Techfrog
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July 08, 2018, 08:26:52 PM |
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Why are you asking this kind of stuff? This is not new, money laundering did not started with the born of bittcoin, it has been in here for more than 10's of years and you can not blame bitcoin because of that, better to inform you better.
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The Cryptologist
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July 09, 2018, 06:47:46 AM |
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Why are you asking this kind of stuff? This is not new, money laundering did not started with the born of bittcoin, it has been in here for more than 10's of years and you can not blame bitcoin because of that, better to inform you better.
That is totally true. Anyone who do money laundering will still get caught and time can only tell when. People who live in this kind of lifestyle will just up end jail because they eventuallyd won't stop on what they are doing so there is a very high chance that one day they will get exposed and also with their others crimes they have done in the past. |
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jonaire99
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July 09, 2018, 07:54:32 AM |
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Aside from fiat, cryptocurrencies like bitcoinis been used in money laundering and it is more difficult to trace by the government cyber enforcers. Money laundering that uses bitcoin is widespread in the so called deep web. This is one of the reasons why many governments are imposing regulation in the exchanges that operating in their countries.
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jurelmartin
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July 09, 2018, 09:07:16 AM |
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of course it is possible. that's why governments are afraid of it being free on their country, they want to put regulations to it to prevent that kind of things happening freely. you can also add to that the most of the wallets out there are requiring some personal information to prevent money laundering on their platforms
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addeqt
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July 09, 2018, 09:14:21 AM |
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Yes, bitcoin could absolutely used in money laundering. even thought the bitcoin network is transparent enough to show all the transaction in a ledger that is publicly available. The owner of each address could not be identified. Even there is KYC in several private company that involves in bitcoin, most of the user could create their own address using their own PC. Thus, no one could identify who and where is the location of the bitcoin address account. By then a person could conceal his or her private information, but can't conceal the amount of bitcoins.
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CryptoPushkin
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July 09, 2018, 09:17:45 AM |
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The biggest money launderings in the world are done WITHOUT using Bitcoin. Therefore every discussion about Bitcoin as a tool of money laudering is totally futile.
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duc4487
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July 09, 2018, 09:24:28 AM |
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I think BTC is not a good tool to laundering money. As you can see, the trouble is that all bitcoin transactions can be tracked so if it is easy to go back into the system and figure out who are behind the laundering.
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iranman
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July 09, 2018, 10:17:54 AM |
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Of course Bitcoin is not perfect. But looking at the entire financial system of the world, there is an analogous impression. Without the black money in the current situation will not work. For this, Satoshi Nakamoto showed the blockchain system in order to improve the system of finance and make it more transparent. How would this happen? What are the rates? Will it work out? these are open questions!
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monacous
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July 09, 2018, 10:37:22 AM |
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It is possible, of course, that many organizations and individuals have used btc to launder money and serve many bad purposes, which is what governments are worried about.
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Gyromancer
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July 09, 2018, 10:45:56 AM |
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Yeah, it's very possible to launder money through bitcoin. Especially anonymous facilities that are a bitcoin advantage so as to enable bitcoin owners do not use their real identity. This is increasingly pampering criminals to commit money laundering because their identities can not be known. This makes their crime transactions untraceable and they are increasingly addicted to crime. Authorities can not keep track of their transactions so they are physically secure. I am sure if someone feels getting a big profit though with a bad way then he will be more addicted in the money laundering transaction.
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camric09
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July 09, 2018, 10:57:05 AM |
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It is possible, of course, that many organizations and individuals have used btc to launder money and serve many bad purposes, which is what governments are worried about.
Yes, I think this is one of so many reasons why governments are not in favor of using bitcoin legally or some governments wants to regulate it to minimize of using it on money laundering. |
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thirdkiller
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July 09, 2018, 12:34:02 PM |
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I think this is not very easy to accomplish since most of the cryptocurrency Bitcoin wallets are clear and easy to spot. so if you would send some big amount of bitcoins I think many of people would notice that.
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keanne_isaac
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July 09, 2018, 12:45:24 PM |
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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?
illegal money used crypto to convert it to legal one. that is why some governments arw strictly prohibit crypto as this would be used for money laundering other countries want to regulate crypto and require kyc for investors to monitor who owns and invest bitcoin. |
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AntiMage007
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July 09, 2018, 12:50:21 PM |
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Yes, it is possible, In order to Bitcoin can use Money laundering but bitcoin all transaction is public but the problem is no one can track who was done the transaction, And anyone can't control it. This is the main reason Bitcoin effect for Money laundering and this is confirmed by the main authorities
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matchi2011
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Buy $BGL before it's too late!
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July 09, 2018, 12:51:08 PM |
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I think this is not very easy to accomplish since most of the cryptocurrency Bitcoin wallets are clear and easy to spot. so if you would send some big amount of bitcoins I think many of people would notice that.
It's easy as well to use a mixers so even they spotted that it can transfer all over without a trace, money laundering is one of those reasons why government doesn't like the idea of anonymity since there's a lots of ways to trade your coins even without directly using the exchange platform from your place, it's not hard to do money laundering from this system. |
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