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Naval is wrong because fiat will be harder to launder while bitcoin is borderless censorship-resistant money.
by miguelmota 6y ago
Naval is wrong because fiat will be harder to launder while bitcoin is borderless censorship-resistant money.
- quonn 6y agoIn a stock scam it is already laundered, because there is no direct flow.
- valenciarose 6y agoMarket surveillance is much better than most people realize. The accounts making money on a scam like this would be identified, filtered for anomalous activity, and the people at the other end investigated.
- quonn 6y agoThey might be, but the money nevertheless is pretty clean (has an acceptable origin). The way around this is to leave no traces of the hack or to cash in using another person.
- fouc 6y agoI'd imagine picking a highly volatile stock with a lot of wallstreetbet bros in it, like TSLA, would serve to helpfully obfuscate your trades and their relationship to the hack.
- jkhdigital 6y agoExactly, anything with lots of FD volume from autists to provide cover
- ALittleLight 6y agoHow would it be harder to launder? You bet on a Tesla stock drop. That's perfectly legal. Musk tweets some bad news, and says he was hacked, but that doesn't mean you hacked him.
- tempestn 6y agoTrue, but it makes you a suspect for further investigation.
- ShorsHammer 6y agoIt's almost like people think he has some magical insight into to everything when really he's just a VC with severe survivorship bias. The idiot has never hacked a thing for profit in his life.