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Please elaborate on what you're saying. I don't see that Bitcoin encourages anybody to do anything -- Bitcoin just is. I could have phrased that better. By "bi

Please elaborate on what you're saying. I don't see that Bitcoin encourages anybody to do anything -- Bitcoin just is. I could have phrased that better. By "bitcoin encourages," I meant some of the community, e.g.: https://en.bitcoin.it/wiki/Anonymity https://en.bitcoin.it/wiki/Anonymity It's not clear to me what services would otherwise be referred to as money launderers "Mixing" services. Is it money laundering when you buy Dominos gift cards, or phone cards? If the purpose behind doing so is to launder money, then yes, absolutely - why wouldn't it be?

yebyen 14y ago
What is a "mixing" service? https://en.bitcoin.it/wiki/Mixing_service https://en.bitcoin.it/wiki/Mixing_service I had never heard this term before. https://en.bitcoin.it/wiki/Anonymity https://en.bitcoin.it/wiki/Anonymity The link you passed seems to start with the misconception that Bitcoin is actually anonymous -- that users of Bitcoin might come because they think it makes them more anonymous. I was also interested to read http://en.wikipedia.org/wiki/Structuring http://en.wikipedia.org/wiki/Structuring Did you know it's called "smurfing" when you read and understand the law, and make your deposits in such a way that they will fly under the radar? Money laundering just seems like such a nebulous crime to me. Maybe it's because I've never imagined having enough money to bring the scrutiny of federal agencies down on me. I'm still paying so much interest every year in federal student loans, at the end of the year they actually pay me just to have a job and keep it.
- SilasX 14y ago
  Wow, they actually try to make it illegal to read up on the law and plan your actions so that they don't violate it? Freaky.
  - yebyen 14y ago
    EDIT: I misinterpreted what you said. Yes, I do think it's freaky now that you put it that way. However it's not the act of making transactions over $10,000 that's illegal, it just brings increased scrutiny on you. IANAL though, and I don't know how they can determine that your transactions shouldn't be "just under the limit" that they decided arbitrarily was the amount that they should watch for. #### That's not what I thought was freaky. It's that it's actually called 'smurfing.' You can't disagree that money laundering is a nebulous term! My understanding is that if you're not doing anything illegal in the first place, then it's not illegal, or money laundering, to attempt to remain anonymous and make your transactions anonymous, however, if you are attempting to make your money less traceable because you want to cover up your illegal activities (say tax evasion), then it's an extra charge for the district attorney to get you with. Have you ever heard of being charged with conspiracy after the fact, when you've already been exonerated of the charge that you supposedly conspired to commit? It happens.

yebyen 14y ago

What is a "mixing" service? https://en.bitcoin.it/wiki/Mixing_service https://en.bitcoin.it/wiki/Mixing_service I had never heard this term before. https://en.bitcoin.it/wiki/Anonymity https://en.bitcoin.it/wiki/Anonymity The link you passed seems to start with the misconception that Bitcoin is actually anonymous -- that users of Bitcoin might come because they think it makes them more anonymous. I was also interested to read http://en.wikipedia.org/wiki/Structuring http://en.wikipedia.org/wiki/Structuring Did you know it's called "smurfing" when you read and understand the law, and make your deposits in such a way that they will fly under the radar? Money laundering just seems like such a nebulous crime to me. Maybe it's because I've never imagined having enough money to bring the scrutiny of federal agencies down on me. I'm still paying so much interest every year in federal student loans, at the end of the year they actually pay me just to have a job and keep it.

SilasX 14y ago
Wow, they actually try to make it illegal to read up on the law and plan your actions so that they don't violate it? Freaky.
- yebyen 14y ago
  EDIT: I misinterpreted what you said. Yes, I do think it's freaky now that you put it that way. However it's not the act of making transactions over $10,000 that's illegal, it just brings increased scrutiny on you. IANAL though, and I don't know how they can determine that your transactions shouldn't be "just under the limit" that they decided arbitrarily was the amount that they should watch for. #### That's not what I thought was freaky. It's that it's actually called 'smurfing.' You can't disagree that money laundering is a nebulous term! My understanding is that if you're not doing anything illegal in the first place, then it's not illegal, or money laundering, to attempt to remain anonymous and make your transactions anonymous, however, if you are attempting to make your money less traceable because you want to cover up your illegal activities (say tax evasion), then it's an extra charge for the district attorney to get you with. Have you ever heard of being charged with conspiracy after the fact, when you've already been exonerated of the charge that you supposedly conspired to commit? It happens.