Quote from: pawel7777 on May 19, 2023, 04:46:43 PM

Quote from: EarnOnVictor on May 19, 2023, 03:27:51 PM

Honestly, I like to mind my business, but I got it loose yesterday evening when a co-neighbour invited all of us to a birthday party. Normal, gist went on until this elderly neighbour working for CBN (Central Bank of Nigeria) as a director in one of their branches stated that people now launder money in Bitcoin thereby making it difficult for the law enforcers to trace. This is where I took it personally, else I would have been a bastard of BTT.
(...)

Haven't you overreacted there a bit? It doesn't sound like he was bashing Bitcoin in that statement.. If you don't link your identity with your bitcoin address in any way, then tracing it back to you would be impossible, so he wasn't wrong there. As for using Bitcoin for money laundering - I don't think it's a good tool for that (depending on the local laws I guess). Laundering does not mean hiding your money, but making illicit proceedings appear legit, so using Bitcoin alone won't help here, as you'd still need to be able to explain where did you get all those bitcoins from.

Lmao I think so too. I honestly wouldn't go out of my way to defend bitcoin against people especially if there's no benefit to bitcoin or to me with the argument, but to each their own I guess. And while I agree with the fact that depositing bitcoin alone isn't enough to "wash" the dirt out of your money that you want laundered, there are ways to do so. Mixing bitcoins and cryptocurrency for one which in the past are just used to make bitcoins you own anonymous again are now being used or at least I suspect of being used by bad actors in the industry to launder money, so while you guys are correct with bitcoin not being great in itself as a money laundering tool, there have been methods that these people saw as a tool to launder money anyway, so the neighbor in a sense is still correct.

All in all, not gonna argue with people who are like that. props to op i guess for convincing an indignant bitcoin hater to appreciate bitcoin but I personally won't go out of my way to just defend bitcoin lmao.