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Only because the criminal hasn't yet tried to use that bitcoin to buy something in the real world. If they try to convert to fiat via an exchange, they can be
by m4x 5y ago
Only because the criminal hasn't yet tried to use that bitcoin to buy something in the real world.
If they try to convert to fiat via an exchange, they can be identified the same way the husband was. If they try to buy products directly without using fiat then it is harder for law enforcement to get the records they need, but still quite possible.
They will probably be safe if they never touch the bitcoin, but that entirely defeats the purpose of using it
- divbzero 5y agoBitcoin is more traceable than cash, but surely creative criminals have worked out a way to launder it?
- jeppesen-io 5y ago> Only because the criminal hasn't yet tried to use that bitcoin to buy something in the real world. An asumption you're making and likely untrue. There are many ways to convert to fiat or skip that step and luander through the dark web
- ignoramous 5y agoDon't need darkweb for that if you're very careful with how you execute trades on https://localbitcoins.com/ https://localbitcoins.com/ (a service that I believe predates coinbase, circle et al) Usually, one'd use a coin like Monero instead, the project's wretched history notwithstanding.
- caeril 5y agoWhat is wretched about Monero's history?
- ignoramous 5y agohttps://en.wikipedia.org/wiki/Monero#History https://en.wikipedia.org/wiki/Monero#History
- phasnox 5y agoWhat is wretched in there?
- ignoramous 5y agoAs with any "anonymity" tech (like Tor and the Dark Web), Monero is linked with all sorts of things. I, personally, feel uneasy investing in / using Monero because of that, especially since it isn't also a stable coin. I can see a lot of value in it though, just like how I see value in Freenet, I2P, Tor and other such overlay networks.
- SahAssar 5y agoWhat about tumblers/mixers?
- tw04 5y agoAnd if they run it through a coin washer? https://bitcoinlaundry.online/en/index.htm https://bitcoinlaundry.online/en/index.htm
- Larrikin 5y agoMost of the big exchanges don't allow cashing out of coins run through those anymore.
- Thorentis 5y agoPeople doing nafarious things don't cash out using exchanges. They use things like localbitcoins to make a trade in person (or through an intermediary), and obviously lose a percent of the value in doing so. At that point it basically becomes a cash transaction.