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Old 05-02-14   #16
TNT
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Re: Bitcoin Exchange CEO Arrested For Laundering Drug Money With Bitcoins


Originally Posted by realandR3cys View Post
Indeed. They're just numbers whose value traction goes like a rollercoaster ride.



Which part?
Wait, so you think money laundering in BTC will not take place further after Shrem's arrest? So, you think after this every other drug dealers in Silk Road will abide by the laws now? Fear the polize? BTC, the holy shrine?
I seriously don't see a logic behind your argument.

The hypocrisy I find is that you hate both HSBC and the alternative which is capable of replacing it. You see, HSBC has a few people at the top deciding which criminals to support. Bitcoin distributes this power, and prevents bigger crime syndicates from taking over all operations. Of course, this does not mean that all crime will stop, but I can see the motivation to commit big crimes reduce when you do not have a big bank to help you launder all your unaccounted money. A hungry unemployed man who steals a loaf of bread from a grocery store is, in my book, a more decent man than someone who snatches money from the store-owner for not paying him his 'protection money'.



How does someone launder a fiat currency with the help of a non-fiat currency? If it were possible, people with unaccounted money would use some other commodity like gold or silver to launder their own stash, instead of turning to banks.
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Old 06-02-14   #17
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Originally Posted by TNT View Post
The hypocrisy I find is that you hate both HSBC and the alternative which is capable of replacing it. You see, HSBC has a few people at the top deciding which criminals to support. Bitcoin distributes this power, and prevents bigger crime syndicates from taking over all operations. Of course, this does not mean that all crime will stop, but I can see the motivation to commit big crimes reduce when you do not have a big bank to help you launder all your unaccounted money. A hungry unemployed man who steals a loaf of bread from a grocery store is, in my book, a more decent man than someone who snatches money from the store-owner for not paying him his 'protection money'.
Well, how do to forsee the future to be so sure and secure with Bitcoins?

The funny thing is, BTC is still in it's infant stages, and yet lots of BTC scams have already been commited.
Do you know how much BTC were stolen by Sheep Marketplace (let me tell you, that's $220m), and yes, the owner was clever enough to quickly bypass any tracking back (the most surprising aspect).

Do you know, how many notorious Bitcoin scams are already sparked off on the streets of Brazil? Taking advantage of innocent people?

This is just the starting. Wait till BTC gets bigger, you'll even see your neighbour in that list (or even you).

I seriously don't hate BTC without having my reasons, not to mention it's high volatility and the way it could disrupture the economy of a country.

So, I'm just gonna leave it here and let you think.
That's all.
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