Fairy_90 (OP)
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March 24, 2018, 08:12:02 AM |
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The crypto carries the dream of an anonymous coin, not controlled by any government, and this makes it a dream for criminals. The fact that the FBI took control of Silk Road has made it clear that it is unacceptable to overturn the law.
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No Gods or Kings. Only Bitcoin
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Smeilz2017
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HI : HEALTH
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March 25, 2018, 10:53:01 AM |
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Hi, I`ve got absolutely limited knowledge on the problem of money laundering. I`ve read on the problem in mass-media. As far as I know , two local cryptocurrency industry organisations are planning to set up a combined self-policing body in response to growing concerns about the security of cryptocurrency marketplaces in Japan.
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Brothersav
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March 25, 2018, 11:03:01 AM |
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The crypto carries the dream of an anonymous coin, not controlled by any government, and this makes it a dream for criminals. The fact that the FBI took control of Silk Road has made it clear that it is unacceptable to overturn the law.
Are you confusing blockchain with money laundering via coins with value? Blockchain is an amazing development us as humans have created. Transparent, not vulnerable to attacks (albeit flaws in the blockchain and quantam computers) etc. yes- btc and monero specifically is used by people to purchase drugs online and move money around however blockchain as a whole is developing into the new internet. |
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hase0278
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March 25, 2018, 11:19:01 AM |
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The crypto carries the dream of an anonymous coin, not controlled by any government, and this makes it a dream for criminals. The fact that the FBI took control of Silk Road has made it clear that it is unacceptable to overturn the law.
Even if it is an anonymous coin, bitcoin and crypto as well is not just a mere money laundering tool for criminals. Blockchain as a whole is created in order to aid transactions online without the need of a third party. It is also supposed to be used as an alternative way to pay besides fiat but the fact is that users(most of them) use it in speculation. What can you say about fiat then? I think they are used more in illegal dealings rather than crypto. |
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kurdun
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March 25, 2018, 11:19:25 AM |
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These are all empty words. At fiat currencies the crime too was, is, and will be. And not only with cash, but with plastic cards too
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Reez
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March 25, 2018, 11:23:04 AM |
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This is one of the dumbest analogies I have read. If cryptocurrency is used for money laundering then tell me is cash also not used for it? Does that makes cash a tool for criminals to launder their money? You need to look at crypto with how it can change the world and get out of your mentality.
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jerick06
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March 25, 2018, 11:26:52 AM |
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Cryptocurrency is only a digital coin. It depends on the person using it. If criminals used crypto for the illegal transactions, that doesn't mean that crypto is a tool for money laundering
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SCAVO.FARM (https://scavo.farm) SELF-SUSTAINING CRYPTO MINING FARM BY USING RENEWABLE |
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sevenbits
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March 25, 2018, 11:36:20 AM |
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For any modern technology, you can find many applications. The fact that technology is used unfairly is the problem of people, not the technologies themselves. In our country, for example, they want to block telegrams because they can be used by terrorists. But they are also using words, it is impossible to forbid communication because of this.
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Doovla
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March 25, 2018, 11:43:25 AM |
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I think it is not case for every currency but i really agree with you that there are money laundering circulating and effecting market.
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Adunni6758
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March 25, 2018, 11:53:37 AM |
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I feel this more reason why the government of some countries are clamouring to have control over cryptocurrency and most especially blockchain, but i think blockchain is more advanced to be used as a tool for money laundering, since any transaction made with cryptocurrency can easily be traced. Even if this is not that feasible, the person might likely use an exchange while converting the cryptocurrency to fiat. He would have done KYC at the exchange, which means if there is any report of money laundering made, he can easily be apprehended through the details provided.
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PetrovichCoinMaster
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March 25, 2018, 12:01:11 PM |
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It is absolutely certain that cryptocurrencies can pose a danger such as aiding and abetting terrorism and drug trafficking, money laundering, etc. Cryptocurrencies can be sent in any quantities and anywhere in the world. And it's scary.
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chocolaty
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March 25, 2018, 12:44:51 PM |
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The possibility is high. Bitcoin supports anonymity of users. This feature allows anyone to make transactions regardless of legality and without the government regulating the transactions, criminals are free to do whatever they want. This is one of the disadvantages of bitcoin and the sad truth is we cannot control it, no one can. According to this article, "The main feature of crypto currencies is their anonymity. I don't think this is a good thing. The Government’s ability to find money laundering and tax evasion and terrorist funding is a good thing." https://www.reddit.com/r/IAmA/comments/80ow6w/im_bill_gates_cochair_of_the_bill_melinda_gates/ |
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Valzador
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March 25, 2018, 12:47:33 PM |
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The crypto carries the dream of an anonymous coin, not controlled by any government, and this makes it a dream for criminals. The fact that the FBI took control of Silk Road has made it clear that it is unacceptable to overturn the law.
most of the large exchange is already using the kyc / anti money laundering process, so the paradigm of crypto not monitored by the government is wrong. |
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slaman29
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Livecasino, 20% cashback, no fuss payouts.
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March 25, 2018, 12:52:26 PM |
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The possibility is high. Bitcoin supports anonymity of users. This feature allows anyone to make transactions regardless of legality and without the government regulating the transactions, criminals are free to do whatever they want. This is one of the disadvantages of bitcoin and the sad truth is we cannot control it, no one can. According to this article, "The main feature of crypto currencies is their anonymity. I don't think this is a good thing. The Government’s ability to find money laundering and tax evasion and terrorist funding is a good thing." https://www.reddit.com/r/IAmA/comments/80ow6w/im_bill_gates_cochair_of_the_bill_melinda_gates/You need to brush up on your knowledge. Bitcoin has supported user privacy, but has always been, at best, pseudo-anonymous. Bill Gates and Melinda Gates may have said so accurately with the knowledge at the time. But if Snowden thinks that Bitcoin is not suitable because of its public, transparent, distributed ledger, then he is only demonstrating Bitcoin's most basic feature. He thinks it's even a flaw. And tell all the alphabay and silk road criminals who got caught how anonymous Bitcoin is! |
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Murloc
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March 25, 2018, 12:59:21 PM |
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It is a payment (or maybe a money transfer) tool for criminals but not laundring. They have to sell all cryptos for fiat and then buy whatever they need. At this point criminals can be easily cought by the police because their money are not really laundered. To launder money with crypto they should create some crypto related service. Do you believe that for example Poloniex was opened to launder drug money? No? Then you got the answer for your question.
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pidie
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March 25, 2018, 01:01:13 PM |
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according to my understanding curyptocurrecy not as a money laundering tool, the purpose of cryptocurrecy is made to be able to help online transactions without the need of parties when. but it depends on the users of cryptocurrecy with their own goals, especially if the criminals want to do money laundering not only with cryptocurrecy but also with a plastic card or with cash.
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ICO Lancer
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March 25, 2018, 01:01:52 PM |
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Cash can and is used for money laundering as well, so I don't really see your point.
Of course, crypto is somewhat easier because a lot of people use it to buy drugs off the dark net but still. Cash is also used to buy drugs and such.
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Armstand
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March 25, 2018, 01:02:04 PM |
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It is a payment (or maybe a money transfer) tool for criminals but not laundring. They have to sell all cryptos for fiat and then buy whatever they need. At this point criminals can be easily cought by the police because their money are not really laundered. To launder money with crypto they should create some crypto related service. Do you believe that for example Poloniex was opened to launder drug money? No? Then you got the answer for your question.
This accusations may only happen depending on the teams objective and we can easily notice now if there are any chances that they want to do illegal activities, we need to be more cautious in everything we join with. |
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Piskeante
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March 25, 2018, 01:06:20 PM |
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YES, it's used for criminal activities. That said, so is money.
But goverments cannot control "black" money. It has always existed and it will always will. But, as cryptocurrency is based on anonymity, if you happen to get control of it by regulations and laws, all transactions can be controlled, so more money can be controlled, and more people also.
Moreover, you can tax it as an asset. Destroying crypto is a Win-Win Scenario for banks and governments that's why we have a bear trend that will be very difficult to get rid off, if not impossible.
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BTC no more than 6k by end of 2019. ETH no more than 300$ by end 2019. Huge market manipulation, huge amount of scammers and hypers.
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balrog
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March 25, 2018, 01:06:58 PM |
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Well , I agree that some cryptocurrencies can be used as laundering tool , but false and offshore accounts are used as laundering tool in all over the world for a long time . So what , who cares about it ? And note that amount of laundered money by those different laundering tools even can't be compared . (I think the amount of laundered money via crypto is less than 1% of total) . I think this problem is greatly exaggerated to create additional pressure on crypto , because banks and traditional financial institutes feel potential threat to their monopoly .
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