Bitcoin = Laundering

[Rozita]

These days, earning with Bitcoin doesn't equal doing illegal things. People used to associate Bitcoin with illegal activity some time ago but it has changed. Now, many people are investing in cryptocurrencies, mostly in mining which by some people is said to be one of the most profitable methods. In my opinion, investing directly in Bitcoin is more profitable.

People don't use bitcoin for illegal activities any more? !!!! How do you know that? !!! No one can control it.
Bitcoin is a decentralized currency and buyers and sellers cannot be tracked. So there is no guarantee that no illegal activity will be done.

[Mike Mayor]

You know what my government does with tax money anyway? You don't want to know. People should give their tax money to charity before the government use it for corruption or to buy themselves faster cars and better holidays because they actually do, do that here. Now someone wants to tell you that you are a criminal even if you don't pay tax only because that person is corrupt and needs your money for their next holiday and not to repair the road or help people. You can launder money in so many different ways you don't need Bitcoin to do it. Infact it would be a bad idea to just do it with Bitcoin if you talking very dirty money. Even with Bitcoin how will you launder 1000btc? That large amount is easy to follow and trace. Oh and remember you first need to be under the radar for them to watch you like this. Big screen TVs and a new yet relatively within reach car will not make anyone come knocking but a new sorts car or massive extensions n your house will. Same with Bitcoin. It makes no difference what media of currency you use.  Bitcoin is just newer and less is known about it that is all.

[ipanks]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

i think we are not doing a laundering and a criminal if we don't do it. we are using bitcoin by buying and selling for positive purpose which is to make money and i think its not a crime. and if we want to transfer from bitcoin into money, we can use third party service to help us to send the money to our bank account and if the third party is clean, then i am sure that the bank will agree. i am often using third party service to help me withdraw some bitcoin.

[easyrimka]

yes but now they keep informations about you ID's to send to the police if needed 

[blozo]

Few people for sure are using bitcoin for money laundering + buy drugs on the dark web. It's still a small part as few people use USD to buy drugs or finance an illicit operation...Should we ban USD as well?

[easyrimka]

Few people for sure are using bitcoin for money laundering + buy drugs on the dark web. It's still a small part as few people use USD to buy drugs or finance an illicit operation...Should we ban USD as well?

usd is a legit money , they are rules and reglementation. bitcoin is a hidden money

[Hazaki]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

Bitcoin might got used for laundering activities or have been a very useful payment method for criminals around the world , but with bitcoin's evolution and massive spread out awareness to people about this new technology , lots of companies and websites are accepting bitcoin payment such as bit pay . And so on you won't even have to transfer your money to any bank and no one will be able to accuse you of anything and we can consider that as secrecy exigence no as laundering !. Bitcoin is all about freedom and that's why it got developed , to not depend anymore of traditional banking systems and be their slave and no one has the right to accuse you based on what you usage you opt for your coins .

[dawoodkhan97]

It all depends on where you live and for what purpose
do you use bitcoins.
or do you pay taxes on those bitcoins?
But overall I guess it is easy to launder money through
bitcoin as there is no proof of tracing it back to you.

[mabell943]

It will a big help for the entire world if the bitcoin will enter in laundering business. It will help other people to start their new chapter of their life. On the other hand the bitcoin will also benefit in this type of idea, the thing is you company should consider the five C’s (Character, Capacity, Capital, Condition and Collateral) before they grant a credit to its clients. Even the individual or institutions recognized these criteria to determine if the debtor is qualify to enter in this type of transaction.

[GreenBits]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

This clearly isnt correct, at least across the board. if you have a bitcoin debit card, its an ach instrument. of course it has to go through a bank.

first off, there is no reason why the bank needs to know that an incoming fiat payment is even associated with BTC. there is no need to indicate this if they do not ask. but if they do, dont lie; that could actually get you in trouble depending on what country you are in. but if they give you shit, get a new bank. in the States at least ( i dont kow where you hail from) unless the bitcoin is actually illicit, there cannot be a presumption of thus.

just use localbitcoins man 

[iqlimasyadiqa]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

This is something that becomes a reality, Bitcoin is often said as a way to do money laundring. because of the anonymous nature of Bitcoin that makes many criminals commit illegal acts with Bitcoin. But many also use Bitcoin to perform positive actions, I think those who do negative actions by taking advantage of Bitcoin is a thing that is not commendable. they have made a bad stigma against Bitcoin and this should be regulated by a regulation, maybe the regulation can be set at the exchange rate. so when we do withdraw then there must be a protocol that obeyed.

[bce]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

if in my opinion can also be a money laundering place for people who have the intentions of crime, in my opinion all access that can make money there must be a positive side and the negative side live people who do and access the bitcoin was the initial intention for what

[DoublerHunter]

Bitcoin didn't mean that it is being used for money laundering because not all the bitcoin users are using bitcoin for money laundering because most of the people are just using bitcoin for money transfer and as a source of income which is very common benefits of bitcoin. So i don't think that bitcoin is just for laundering.

[Donned]

Yes, bitcoin does have the function of money laundering, but this is not his main function. Many countries define Bitcoin as a money laundering tool, which is obviously unreasonable and wrong.

[PMmesexycoins]

It's certainly much easier to do it with it around, but at this point there's other crypto currencies that can get the task done even better.

[Kim Ji Won]

I want to hodl until the day we don't have to change back to fiat, where I can buy everything I want directly with crypto.

I'm pretty sure that you can't hold your bitcoin until that day. We're far away from the day where we can use bitcoin alone with all our transactions even with small ones. I honestly don't think that it would also be possible that fiat money will be useless in the future. It would just be better that these two types of currencies will coincide with each other.

[sheenshane]

Maybe bitcoin used other people who was laundering using bitcoin, are even criminal activities by using bitcoin. We just don't know because it not traceable their transaction by our government so they want using bitcoin illegal activities.
But how to become money laudering some people bitcoin used as their extra income for daily needs not to be suspicious by using bitcoin into money launderers.,

[cl37007]

It always amuses me when the big banks use these scare tactics around things they don't like. JP Morgan a long standing hater of Bitcoin saying it is only used for criminal activities such as money laundering was recently found guilty of money laundering. They can't control it so spread FUD!

[khokon150]

Money Laundering is the best main reason for banning Bitcoin is some Countries i think.
Because Bitcoin is most famous digital currency at present world.
Criminal always try to use Bitcoin it's one kind of money laundering i think.

[dogz12]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

Money laundering is a criminal act punishable by law. It is the transfer of large amount of money that is obtained from illegal proceeds. If you have no big amount and have no illegal activities either, why bother to worry then.