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I'm very ignorant about Bitcoin, but given El Salvador's big problem with crime, doesn't adopting Bitcoin give the cartels an extremely easy way to launder thei
by gman83 5y ago
I'm very ignorant about Bitcoin, but given El Salvador's big problem with crime, doesn't adopting Bitcoin give the cartels an extremely easy way to launder their money?
- zakember 5y agoDepends on how tech savvy they are. Bitcoin has a public ledger, so once you know who the owner is of a particular address, you can view all of their past transactions and all the addresses of those transactions, potentially exposing a lot of metadata of their activities
- lxgr 5y agoCoin mixers can make this much harder.
- senectus1 5y ago> Depends on how tech savvy they are. no it doesn't. Most drug runners/dealer are not chemical engineers... they just hire guys that know what they're doing. Same in the crypto space. The tech isn't inherently evil or criminal, its the people that use it that way that make their activities using it criminal.
- rntksi 5y agoThere was an article a while back on Hacker News top list where the blog author explained, in actually very simple steps, how to launder it through services such as Tornado, to disjoin the trail of money. Pretty intelligent piece of work.
- ddtaylor 5y agoI'm pretty sure cartels and gangs are using fiat right now...