3 ms·

I suppose you want cash and art banned too? Those are even better money laundering tools than Bitcoin.

• CharlesW 4y ago
  > Those are even better money laundering tools than Bitcoin. How are cash and art better for money laundering than Bitcoin?
  • eldenwrong 4y ago
    Cash is untraceable....? Although Bitcoin will reach that point as well
    • lrvick 4y ago
      Cash is traceable in a similar way to Bitcoin. Investigators frequently follow the serial numbers of large bills to track down criminal transactions. Banks even help.
  • lrvick 4y ago
    “Hey, I will give you this trunk full of cocaine if you make sure to win one of my relatively unknown paintings at the next auction for a least $1m. My friend will bid it up that high for you to take the win. You probably can not resell it for that, but donate it to a museum and take a $1m tax write off for your trouble” Money spent to buy the art is clean in one shot because art is worth whatever someone pays for it and it is hard for an investigator to prove you didn't simply -really- want that particular painting. Someone showing up to a bitcoin exchange with $1m in BTC trying to convert it to cash is going to invite law enforcement questions about the source of those funds really fast. Art remains one of the most effective money laundering and tax evasion tools.