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I should restate. Mary wants to buy from John, but the dollar exchange won’t convert for her. She exchanges her Bitcoin for monero. That monero is sent to John
by hajile 5y ago
I should restate. Mary wants to buy from John, but the dollar exchange won’t convert for her.
She exchanges her Bitcoin for monero. That monero is sent to John. John now converts it back into Bitcoin. When it converts to Bitcoin, the money is perfectly laundered and ready for conversion to dollars.
- erentz 5y agoThe problem is that when John converts to Bitcoin he may receive Bitcoin that has a criminal history attached tainting it. That taint may prevent John from using his Bitcoin at certain places or exchanging it elsewhere. It may also mean the US decides at some point that his Bitcoin should be seized due to that criminal history. How does John know he is getting Bitcoin with only a clean history?