Money laundering via BTC

[bryant.coleman]

Hi guys ! My name’s Dave.
ข่าวกีฬา
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?

I am 100% sure that this guy is either from the IRS, or someone who doesn't have any idea about Bitcoin. If money laundering is the only concern here, then there are much better options available. Bitcoin is not anonymous and every single transaction is being stored in the Blockchain. Obviously you can use a Bitcoin mixer, but then why go for all this hassle, when there are more attractive options available? Money laundering is possible with Bitcoin, but only for smaller amounts. And even in such cases, there are better alternatives available. 

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[Kittygalore]

The government wants to be in control of the money and they also want to stop anything that might undermine their own currency. They want the ability to tax and seize at will. Crypto makes this difficult which is why I see them trying to stop it in the future.

Tax is a good thing and evading it means that you are not bringing back something into the community, it is natural that the government is going to hunt down money launderers because those taxes could be used to build projects that will benefit the many, I understand if some launder because the government is corrupt but with you evading taxes, you should at the least bring something back in the community.

[btc78]

Hi guys ! My name’s Dave.
ข่าวกีฬา
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?

If you live in place where Money laundering is not rampant and the government campaign is not that Tight then for sure you can easily launder Funds from here and there.

There are some country that has weak laws and this can be conducted by ordinary people to launder money.

But if you are in USA  or other country same as that? then you will surely be caught and put behind the bars and all your funds will be in Government funds added.

[Vishnu.Reang]

Tax is a good thing and evading it means that you are not bringing back something into the community, it is natural that the government is going to hunt down money launderers because those taxes could be used to build projects that will benefit the many, I understand if some launder because the government is corrupt but with you evading taxes, you should at the least bring something back in the community.

Tax is a good thing? Who told you that? Nowadays, most of the tax money is being used to wage wars abroad and to pay the most unproductive members of the society. I am not in favor of tax evasion, but just saying that over-glorifying the tax collection is not necessary. If the tax structure is fair, then no one would be in favor of evading taxes. But when it becomes a way of punishing the successful people and rewarding the unproductive individuals, then it's purpose is put to question.

[blckhawk]

Hi guys ! My name’s Dave.
ข่าวกีฬา
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?

It is possible especially because of the characteristic does Bitcoin has which is decentralization. It would be a lot difficult for authorities to monitor or track this kind of activity unless you will undergo KYC in some exchanges or something. However, I wouldn't recommend this such activity as it destroys images of crypto especially Bitcoin that is why several governments across the world are having a thought of accepting it or legalize the use of Bitcoin.

[iram3130]

Tax is a good thing and evading it means that you are not bringing back something into the community, it is natural that the government is going to hunt down money launderers because those taxes could be used to build projects that will benefit the many, I understand if some launder because the government is corrupt but with you evading taxes, you should at the least bring something back in the community.

Tax is a good thing? Who told you that? Nowadays, most of the tax money is being used to wage wars abroad and to pay the most unproductive members of the society. I am not in favor of tax evasion, but just saying that over-glorifying the tax collection is not necessary. If the tax structure is fair, then no one would be in favor of evading taxes. But when it becomes a way of punishing the successful people and rewarding the unproductive individuals, then it's purpose is put to question.

I dont think @Kittygalore understands the concept deeply, most of the countries take more than 30% of what you have earned and for medium class or lower medium class people, that is allot of money to simply giveaway. On that the developments by the country and politicians towards them will not be of recognizable impact and therefore most of them think of laundering the money to save it.

It might be an illegal activity in the eyes of the government but for a small household, it is allot. So no one can judge it on a general way, people who are laundering with illegal income is definitely wrong but what about genuine poor people..?

[Kittygalore]

Tax is a good thing and evading it means that you are not bringing back something into the community, it is natural that the government is going to hunt down money launderers because those taxes could be used to build projects that will benefit the many, I understand if some launder because the government is corrupt but with you evading taxes, you should at the least bring something back in the community.

Tax is a good thing? Who told you that? Nowadays, most of the tax money is being used to wage wars abroad and to pay the most unproductive members of the society. I am not in favor of tax evasion, but just saying that over-glorifying the tax collection is not necessary. If the tax structure is fair, then no one would be in favor of evading taxes. But when it becomes a way of punishing the successful people and rewarding the unproductive individuals, then it's purpose is put to question.

Did you read my whole reply though, you can pay your tax if you know that it is going to the right thing and not every country is waging wars, maybe your country does that but my country doesn't. The successful ones have more money and that means that they can give back more taxes, that's the way it is and if you want to change that then you should probably change the system yourself instead of whining that the rich are taxed too much when that is not the case.

[pinggoki]

Hi guys ! My name’s Dave.
ข่าวกีฬา
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?

Actually it is really possible to do money laundering through the used of bitcoin as bitcoin is really hidden in which no one will be able to know if you already holding a bitcoin because your the only one knows your wallet and no one will be able to have access on it. As I've been watching several videos including reading the different stories of Xian Gaza in which they can hide their money or do some illegal things by just hiding their money into cryptocurrency especially in bitcoin and no one will be able known of this because they can transfer it to different wallets in order for them to be not trackable.

[bounceback]

for now doing money laundering with bitcoin is not as easy as you think because nowadays almost every cryptocurrency exchange requires its users to do KYC to prevent users from committing crimes, and on the other hand blockchain is also transparent so in my opinion this can make it easier to investigate illegal activity.

[matchi2011]

Hi guys ! My name’s Dave.
ข่าวกีฬา
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?

It is possible especially because of the characteristic does Bitcoin has which is decentralization. It would be a lot difficult for authorities to monitor or track this kind of activity unless you will undergo KYC in some exchanges or something. However, I wouldn't recommend this such activity as it destroys images of crypto especially Bitcoin that is why several governments across the world are having a thought of accepting it or legalize the use of Bitcoin.

The very after effects if does being tracked down. The image of this entire industry are being affected since those who
don't understand the concept will conclude right away.

Money laundering are everywhere, not just inside crypto but as development grwos, those illegal  doers are continually
looking for the best place to deal with their illegal activites.

[uneng]

Tax is a good thing and evading it means that you are not bringing back something into the community, it is natural that the government is going to hunt down money launderers because those taxes could be used to build projects that will benefit the many, I understand if some launder because the government is corrupt but with you evading taxes, you should at the least bring something back in the community.

Tax is a good thing? Who told you that? Nowadays, most of the tax money is being used to wage wars abroad and to pay the most unproductive members of the society. I am not in favor of tax evasion, but just saying that over-glorifying the tax collection is not necessary. If the tax structure is fair, then no one would be in favor of evading taxes. But when it becomes a way of punishing the successful people and rewarding the unproductive individuals, then it's purpose is put to question.

Did you read my whole reply though, you can pay your tax if you know that it is going to the right thing and not every country is waging wars, maybe your country does that but my country doesn't. The successful ones have more money and that means that they can give back more taxes, that's the way it is and if you want to change that then you should probably change the system yourself instead of whining that the rich are taxed too much when that is not the case.

It's not the riches who are being taxed too much, but the middle class which has to carry the poors and also the riches on their back through abusive taxation. We have no idea where the money we pay is being applied, because there are so many taxes over each very product and service. But if we are talking about third world countries most probably the biggest part of this money is being stolen someway.
If in your country the taxation policy works well and benefits the society, congratulations, you are very lucky and it's totally fine to be proud of it, but it's not the case in most countries. So I think people have the right of at least whining about the situation, as nothing else can be done.

Laudering money through fiat or bitcoin, doesn't matter, it's not an option to *protest*. Anyone doing this will be tracked and considered guilty towards the society. That is all authorities want angry people with the system to do.

[Ebede]

Hi guys ! My name’s Dave.
ข่าวกีฬา
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?

I think crypto can be used for money laundry since banks which are the financial institutions can not regulate the activities of crypto,it can then be used for any illegality. but it was not the initial purpose why it was created....my opinion though

[Evgenklm]

I am sure and convinced that where there is a lot of money, there are a lot of attackers, but in what quantities, because there are positive qualities in bitcoin and there are more of them than these rumors about money laundering with bitcoin, so I count how many people there are so many opinions.

[Iranus]

I am sure and convinced that where there is a lot of money, there are a lot of attackers, but in what quantities, because there are positive qualities in bitcoin and there are more of them than these rumors about money laundering with bitcoin, so I count how many people there are so many opinions.

I don't think this liability rests on Bitcoin, money laundering has been going on for ages through fiat and other assets. Even before the creation of Bitcoin, terrorists have been evading the government by making black money white. On the contrary, in some cases, the government has more Surveillance over Bitcoin transaction, so everyone is careful enough to use Bitcoin. I think other assets and fiat money are used more than Bitcoin to finance various terrorist activities.

[fauzan123]

Hi guys ! My name’s Dave.
ข่าวกีฬา
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?

Laundering money through bitcoin is a bad idea—not only because it’s illegal, but also because it leaves a permanent trail. Defendants have repeatedly been undone because they’ve relied on the cryptocurrency for some part of their nefarious activities. Sometimes, they’ve been arrested years after their alleged crimes.

[online73]

Hello everybody. Every year it becomes more difficult to use cryptocurrency for money laundering, because now KYC has been introduced on all major crypto-exchanges, even decentralized exchangers will not help you avoid questions from bank officials about the history of this money. Surely there are some money laundering schemes associated with cryptocurrency, and they are used, but this is not a greater percentage of money laundering than through cash or some other instrument. Money laundering is bad, but for any Fresh "apple", there is always a "worm".

[pixie85]

I do not do that since I am no crook. If it is gambling money then it should not be dirty. But aside from crypto, I might also buy gold and silver using the said money since there are so many establishments that sells them. But I might not do bulk purchases, just little purchases here and there. Also with bitcoin, I would prefer personal direct approach buying bitcoin from people and putting them on my personal wallet. No fuzz, no mess, hopefully.

And what if your government bans gambling and decides all profits are dirty? Will you stop gambling or keep doing it with cryptocurrency?

As you see it's all a matter of perspective. Some things are called dirty in one country and allowed in another. We as a part of the online community don't care about borders because when you're in the Internet you are bound by general ethics and laws.

If something is allowed in 90% of the world and banned in the country you're currently at, but you can do it in the Internet despite the ban, will you? Many people will say yes and become criminals in their country.

[seoincorporation]

Bitcoin isn't clean money at all, when you want to convert them into cash there is always a trace to follow.

Bitcoin and cryptos by themselves can be anonymous with technology like the coin mixers or Anon coins like Monero where the transactions are impossible to trace by its blockchain, but in the end, you will want to convert that money to cash, and there is where de anonymity disappears.

[Swopon]

Hi guys ! My name’s Dave.
ข่าวกีฬา
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?

Yes, it is possible and already it was done in many countries. And I believe that still many people are transferring their black money using Bitcoin. It is the most easiest way to transfer big amount of money without any hassle. Corrupted money can easily be transferred to other wallet or to others without knowing others. So, it is already known for transferring money anonymously.