::Yawn:: The insurance contract approach is lame as it makes you lose your funds if the other party suffers an honest failure (e.g. they get hit by a bus). Bet

::Yawn:: The insurance contract approach is lame as it makes you lose your funds if the other party suffers an honest failure (e.g. they get hit by a bus). Better protocols are possible: https://bitcointalk.org/index.php?topic=321228 https://bitcointalk.org/index.php?topic=321228 (CoinSwap) Describing it as "laundering" is more than a little hopeful-eyed. These sorts of things are privacy mechanisms, which make Bitcoin's privacy a bit closer to traditional banking... but they don't provide an apparent legitimate origin of the funds, so they aren't themselves useful for money laundering.