3 ms·
>Remember, the most privacy-preserving way of trade is dealing with cash, yet no one sees it as "criminal." Except for, ya know, when you launder that cash, ki
by jjulius 4y ago
>Remember, the most privacy-preserving way of trade is dealing with cash, yet no one sees it as "criminal."
Except for, ya know, when you launder that cash, kinda like what Tornado does...
- bpodgursky 4y agoI don't think that's true. "Laundering" cash means making declaring fraudulent income from a business to make the cash income look legitimate. From the perspective of the tax authorities, it doesn't matter whether you have the "same" 100 ETH you had on Thursday, the question still remains whether you have undeclared income. This is more like... depositing hundred dollar bills at a bank, and then withdrawing different ones from an ATM.
- jjulius 4y agoLaundering isn't specific to just declaring fraudulent business income to make your income look real, it's broadly about masking the origin of illegally-obtained money, whatever that may look like. Mixers such as Tornado mask the origin of one's money.
- eric_cc 4y agoWhat if you buy ETH on coinbase and use tornado cash to simply stop coinbase from spying on your funds?
- deleted 4y ago[deleted]
- jjulius 4y ago... what if? I'm not seeing the relevance to my point.