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The USD remains the choice of the cartels and professional money launderers. After all, pro crooks do not want to leave an eternal trace of their transactions

by hfsp 6y ago

The USD remains the choice of the cartels and professional money launderers. After all, pro crooks do not want to leave an eternal trace of their transactions on a public ledger on the internet.

bushbaba 6y ago
Disagree. There’s a reason terrorists such-as hamas, al queda, isis choose to use btc. https://www.coindesk.com/us-prosecutors-attempt-to-seize-bitcoin-allegedly-tied-to-al-qaeda https://www.coindesk.com/us-prosecutors-attempt-to-seize-bit...
SEJeff 6y ago
This so much ^ The FBI has already proven pretty well that with a big enough dragnet (and resource that places like the NSA absolutely have), they can associate people to wallet addresses. It just takes slipping up a single time and they'll find you.
- jackTheMan 6y ago
  If it is the interest of FBI, also according to this article, in some places an email address is enough to open an account: https://www.bnnbloomberg.ca/booming-crypto-market-a-potential-haven-for-money-laundering-1.1502161 https://www.bnnbloomberg.ca/booming-crypto-market-a-potentia... so not sure about the claim.
  - SEJeff 6y ago
    https://www.coindesk.com/fbi-used-bitcoin-trail-to-catch-russian-rapper-accused-of-money-laundering https://www.coindesk.com/fbi-used-bitcoin-trail-to-catch-rus... https://www.justice.gov/opa/pr/two-chinese-nationals-charged-laundering-over-100-million-cryptocurrency-exchange-hack https://www.justice.gov/opa/pr/two-chinese-nationals-charged... https://www.justice.gov/opa/pr/ohio-resident-charged-operating-darknet-based-bitcoin-mixer-which-laundered-over-300-million https://www.justice.gov/opa/pr/ohio-resident-charged-operati... The upside of crypto currencies is decentralization, but a public ledger is public to law enforcement as well. With time and serious funding they often can link wallets to people. I’m not saying it is good, only as a matter of fact it is a thing.

by hfsp 6y ago

The USD remains the choice of the cartels and professional money launderers. After all, pro crooks do not want to leave an eternal trace of their transactions on a public ledger on the internet.

bushbaba 6y ago

Disagree. There’s a reason terrorists such-as hamas, al queda, isis choose to use btc. https://www.coindesk.com/us-prosecutors-attempt-to-seize-bitcoin-allegedly-tied-to-al-qaeda https://www.coindesk.com/us-prosecutors-attempt-to-seize-bit...

SEJeff 6y ago

This so much ^ The FBI has already proven pretty well that with a big enough dragnet (and resource that places like the NSA absolutely have), they can associate people to wallet addresses. It just takes slipping up a single time and they'll find you.

jackTheMan 6y ago
If it is the interest of FBI, also according to this article, in some places an email address is enough to open an account: https://www.bnnbloomberg.ca/booming-crypto-market-a-potential-haven-for-money-laundering-1.1502161 https://www.bnnbloomberg.ca/booming-crypto-market-a-potentia... so not sure about the claim.
- SEJeff 6y ago
  https://www.coindesk.com/fbi-used-bitcoin-trail-to-catch-russian-rapper-accused-of-money-laundering https://www.coindesk.com/fbi-used-bitcoin-trail-to-catch-rus... https://www.justice.gov/opa/pr/two-chinese-nationals-charged-laundering-over-100-million-cryptocurrency-exchange-hack https://www.justice.gov/opa/pr/two-chinese-nationals-charged... https://www.justice.gov/opa/pr/ohio-resident-charged-operating-darknet-based-bitcoin-mixer-which-laundered-over-300-million https://www.justice.gov/opa/pr/ohio-resident-charged-operati... The upside of crypto currencies is decentralization, but a public ledger is public to law enforcement as well. With time and serious funding they often can link wallets to people. I’m not saying it is good, only as a matter of fact it is a thing.