Quote from: alyssa85 on October 19, 2017, 01:02:22 PM

Quote from: buwaytress on October 19, 2017, 12:27:32 PM

1. To launder that much money, you'd have to be moving a LOT of bitcoins. Regularly. If the total market cap of crypto is only 165 billion, and of that only 94 billion, we're talking about very noticeable amounts being laundered. Even taking into account a $5000 Bitcoin value, to move 1 million dollars requires 200 Bitcoins. And we know the industry is moving hundreds of millions a month. Those Bitcoin volumes moving into USB wallets are going to be very easy to detect. Getting someone to SELL you those Bitcoins is going to be hard to find. Exchanges as we know them are going to be very difficult as well.

See, if you're moving millions of fiat in a global market of 100s of trillions, it's a speck. Perhaps when Bitcoin is valued at 100,000, it may become more viable.

This. It's easier to launder money through a legit business, or use cash, than bitcoin. Bitcoin is too small, and the public ledger means that if your address is tied to a persona, you are toast.

Or set up a Bitcoin exchange operated by 'anonymous' people, just like what Alex Vinnick did. And I wouldn't be surprised if some of the other 'legit' exchanges are being used to launder drug money. If bank executives at the top do it, then Bitcoin exchanges are the cheaper option. It would be naive to think no shenanigans are going on in the space.

Criminal Mastermind' of $4bn Bitcoin Laundering Scheme Arrested
https://www.theguardian.com/technology/2017/jul/27/russian-criminal-mastermind-4bn-bitcoin-laundering-scheme-arrested-mt-gox-exchange-alexander-vinnik