Quote from: AtheistAKASaneBrain on May 15, 2015, 12:47:49 PM

Quote from: bitfancier on May 14, 2015, 03:24:43 PM

Quote from: Redones on May 12, 2015, 07:59:02 AM

is bitcoin open way forward money launderer to get safe money,i asked that because its appear that bitcoins is verry hard to control or track

As already said, it's not that hard to track.

There're other coins that declare being untraceable, but as far as I know, any bitcoin-based coin is easy to track. It's considered that cryptonote coins' transactions, though, are really imppossible to track Cool

But to access cryptonote coins (namely Monero) you still need Bitcoin, and the Bitcoin transaction where you bought Monero with would still show up, so whats the point. Unless the Monero coins you have were mined, their origin will most likely be trade for BTC in some exchange.

The point is probably that after that, you cannot follow the monero coins any more. That's the point. Of course you can see that a guy deposited half a million $ in an exchange to get bitcoins. Then you can trace those bitcoins to an exchange that has monero on its list. And from there on, you don't know anything any more of where that money went, contrary to the bitcoin block chain.

That's the advantage of cryptonote in my eyes.

Suppose that someone wants to buy, say, a famous painting, and keep that hidden. He can now take some money from his bank account, and put it on an exchange, and buy some bitcoin with it. That's traceable. Then he can put those bitcoin on another exchange, that's still traceable. There he can exchange them for monero. And then the track is lost.

The seller of the painting can now receive monero from the buyer. Nobody will be able to link that to the other guy's address. That's the whole point of cryptonote. Of course, this guy now has a problem: how to get dollars out of his monero ?
He can convert them to bitcoin on an exchange, and exchange them to dollars. Of course, questions can be asked of where did he get that money. But nobody will be able to trace the monero transaction and link it to the painting. Unless of course, the guy selling it, tells authorities.
But what can also happen, is that that guy buys something else with bitcoin or monero. For instance, drugs. As such, he doesn't need to get back to the dollar. He could get his monero or bitcoin from trading a painting, and could get drugs in place, without this being traceable.