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You know whats used way more then crypto to buy illegal things and launder money? Cash
by mikefallen 5y ago
You know whats used way more then crypto to buy illegal things and launder money? Cash
- TedDoesntTalk 5y agoYou can’t use cash to buy a kilo of XXXX from Sergei in Ukraine when you live in Chicago.
- basisword 5y agoYou can. It’s just more difficult. But you can use cash to buy a kilo of XXXX from someone in Chicago very easily.
- NicoJuicy 5y agoMaking it difficult is entirely the point.
- colinmhayes 5y agoI live in Chicago. I've bought plenty of drugs. Buying on the internet is much, much easier.
- jshen 5y agoYou are using the wrong denominator. You need to compare the percentage of cash transactions (or cash exchanged) for illegal activities compared to crypto.
- hellbannedguy 5y agoIf you start moving more than $10,000, you will have IRS attention. (I think they like to pick on little guys because it's easier than the guys whom have lawyers, and CPAs?) Actually, I was flagged over $6000 deposit over the sale of a car. The IRS gives rewards to bank employees if they report (successful conviction) any suspicious behavior. I still don't know why I was flaggged. Probally because I had long hair at the time? I had a bunch of sleepless nights over that incident, and a bunch of emails back and forth.
- nfin 5y agoI hope we wouldn't have to go through a bunch of sleepless nights for doing nothing bad. There are semi random checks of "suspicious behaviour" being done in masses. These things can get out of hand sometimes (redefining what suspicious is...), when those elected get a bit crazy