Post
Topic
Board Economics
Re: Is USD being used for illegal activities?
by
twicezeroiszero
on 16/02/2018, 15:57:36 UTC
I see more and more articles of the USD being used for illegal activities, such as funding of terrorists and unconstitutional, illegal wars, funding of wars that cause severe infringement of civil liberties like the war on drugs, among other things. I am pretty sure that when goons smash into convenience stores and steal stuff, then the money they probably steal is USD, which makes it criminal currency. Also, I am pretty sure that the baseball bats that majority of the goons have bought were paid for by the USD.

Also, most people collect rain water, drink raw milk, and throw cannabis seeds in soil, all three acts which are considered serious illegal felonies punishable by seriously expensive fines and extensive jail time, possibly life in prison.

Some people also walk, drive, fish, or hunt without a permit that can easily be bought for in USD.
 
Will this hurt USD in the long run? Will governments ban this just like they started to do with paying in cash for some services to harden the use of illegal activities, and money laundering?
Actually all of the currency around the world can be used in illegal actions like buying and selling drugs online or in real world without noticing the government yet it can be revealed. But in bitcoins you can't leave any trace with your transactions with drugs because it is all hidden.
Really? As you said, why do the Korean and Japanese government catch a lot of criminals related use cryptocurrency for crime? Because after all, you need to exchange crypto to FIAT and that is the time for the police track the source, data, information of seller and buyer through exchanger.
We are living in a world of technology and digital gadgets. It is nothing impossible here to trace someone. We are surrounded by CCTV cameras, our google and other researches are having tracks stored in the databases of these search engines.

You cannot escape from the grip of intelligence agencies. It is not just about bitcoin or dollar used in illegal activities and being caught with them, the point is that we cannot escape from technology.
I agree with you that we cannot escape from the technology because the technology will be the key for the authorities to find out something and to solve the current issues that have right now in our world and one of the major problem that we have is the illegal activities because they are not just USD to transact but also bitcoin but like you said, even though they have the hidden places, the technologies can still be the key for them to get caught.
Nothing is safest!
Included the blockchain technology, it still has some methods to track illegal activities through this technology.
If the government can not do that, they did not accept cryptocurrency, because they have not way to manage it.
While if they can do that though it is very hard, but they still choose to try and accept crypto.