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Bitcoin is terrible to buying illegal stuff. Now that exchanges have become somewhat legitimate businesses, the authorities can track bitcoins all the way back
by hvidgaard 8y ago
Bitcoin is terrible to buying illegal stuff. Now that exchanges have become somewhat legitimate businesses, the authorities can track bitcoins all the way back to the buyers.
- simias 8y agoIf you're a good citizen who has nothing to hide it's true, you make "simple" A->B transactions that are out in the open for all to see. If you're doing something shady and are worried about being tracked there are ways to launder your coins by mixing them, converting them to other currencies, going through multiple exchanges under different jurisdictions etc... It's probably not as easy now than it used to be, it's true, but it's still way easier than anything else (well, except cash, but that doesn't work so well in the virtual world). That's why it's kind of the worst of both worlds, if you're a law abiding citizen your company can see that you're moving some money they paid you to the wallet of dragondildos.com, meanwhile if you're a drug dealer you can launder money internationally with relatively little risk using Tor and Monero. So I maintain that bitcoin is the best way to do illegal stuff online. It's not perfect but it's safer and more convenient than all the alternatives I can think about.