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To take your bitcoin (or monero) they will actually have to show up to your door with weapons. This is much more expensive and prone to failure for the governme
by alwayslikethis 4y ago
To take your bitcoin (or monero) they will actually have to show up to your door with weapons. This is much more expensive and prone to failure for the government or other authorities than simply freezing your assets on a bank.
Note: I am aware that they can blacklist bitcoins and trace them nearly perfect nowadays, which can make them somewhat useless even if you still own them. With Monero, this is made far more difficult.
- throwaway290 4y agoSo by that logic monero is a perfect laundering mechanism? If a criminal (ransomware/kidnapper/bloody kleptodictator) simply exchanges dirty money through monero then law enforcement can't prove anything to stop them, so they can create a comfortable life for themselves while continuing the crime right?
- alwayslikethis 4y agoIt would be, if it were to be widely accepted for things other than drugs or other illegal services. At current adoption levels, the liquidity is enough for some small scale illegal fund transfer or some drug trade, but not nearly enough for big money laundering operations (good luck cashing out $100M worth of monero without tanking the price).
- throwaway290 4y agoIf they can launder even a million dollars this way it seems like an example of conflict of interest between people who want less crime and people who the gov to not take their money.