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The main legal weakness of the network is the possibility to launder money while mining. You exchange electricity for anonymous Bitcoins. Freshly minted coins
by pygy_ 14y ago
The main legal weakness of the network is the possibility to launder money while mining. You exchange electricity for anonymous Bitcoins.
Freshly minted coins are obviously anonymous, and so are the ones awarded for transaction fees (they come from whatever transaction your mining rig managed to solve).
It is expected that mining fees will rise to match the cost of mining once the free supply has dried up.
As long as you can find an electricity supplier that looks the other way, mining can be used for laundering.
- tobias3 14y agoNot only that you can use Bitcoin scramblers to launder your bitcoins. Because nobody mentioned them yet: They forward money for a fee. With enough users one can then not trace the transaction anymore. And that makes Bitcoins a anonymous method to pay. Readily availble to launder money. Governments will not look away if this becomes widespread.