The DOJ’s $3.6B Bitcoin Seizure Shows How Hard It Is to Launder Crypto
submitted 2 years ago by Drewski from (wired.com)
[–][deleted] 8 insightful - 3 fun8 insightful - 2 fun9 insightful - 2 fun9 insightful - 3 fun - 2 years ago (2 children)
I have gotten a lot of flak trying to explain this to people. It's certainly not the currency of choice for crime, cash is.
[–]Tom_Bombadil 7 insightful - 2 fun7 insightful - 1 fun8 insightful - 1 fun8 insightful - 2 fun - 2 years ago (0 children)
Exactly. BTC is a surveillance coin.
I want to see an article where somebody brags about catching someone's Monero trail.
Edit: The tax man is coming for the bitcoins.
[–]Mizzazz 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 2 years ago (0 children)
Totally wrong.
[–]package 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 1 fun6 insightful - 2 fun - 2 years ago* (0 children)
Always baffled at how people can claim bitcoin is more private when it inherently tracks every single change of hands its ever makes. Doesn't matter how many stops it makes along the way or how many transactions you split it into; a computer can map that tree almost instantly.
[–][deleted] 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 1 fun6 insightful - 2 fun - 2 years ago (1 child)
It’s all tracked.
Crypto is more easily surveilled than cash. It has a 100% working all the time ledger. Every time crypto was used, who it came from and who it went to, it’s all public and tracked.
[–][deleted] 5 insightful - 3 fun5 insightful - 2 fun6 insightful - 2 fun6 insightful - 3 fun - 2 years ago (0 children)
This is only true about surveillance coins, such as well... most of them. But there are privacy coins such as Monero, PirateChain and others that are untraceable, fungible and private.
[–]Drewski[S] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 1 fun4 insightful - 2 fun - 2 years ago (0 children)
archive.today mirror
[–][deleted] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 1 fun4 insightful - 2 fun - 2 years ago (0 children)
It's not even HARD, it's actually IMPOSSIBLE in a lot of cases.
[–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 1 fun2 insightful - 2 fun - 2 years ago (0 children)
Homer: "D'OJ!"
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cryptocurrency and related discussion
[–][deleted] 8 insightful - 3 fun8 insightful - 2 fun9 insightful - 2 fun9 insightful - 3 fun - (2 children)
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