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169
GreazyCheeks 169 points ago +170 / -1

It's called money laundering.

Our money.

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deleted 69 points ago +69 / -0
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deleted 21 points ago +21 / -0
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deleted 1 point ago +1 / -0
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deleted 35 points ago +38 / -3
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deleted 30 points ago +30 / -0
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Txpede 13 points ago +16 / -3

Yep. Couldn’t agree more. No wonder Bitcoin is exploding through the roof. There is a lot of money that needs to be laundered.

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SirPokeSmottington 11 points ago +13 / -2

No wonder Bitcoin is exploding through the roof. There is a lot of money that needs to be laundered.

Anyone that thinks you can launder money though bitcoin...

  1. Hasn't even the basic, fundamental understanding of Bitcoin.
  2. Hasn't even the basic, fundamental understanding of Money Laundering.
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Txpede 3 points ago +3 / -0

What am I missing? Clearly, I don’t own any Bitcoin. But what would prevent someone from sending $100 million in Bitcoin and me withdrawing it in small amounts anonymously and depositing it in offshore bank accounts?

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dankai420 1 point ago +1 / -0

I was going to say he's wrong but maybe he's not, you can transfer money through bitcoin but money laundering means you need to pretend your money has a legitimate origin, laundering 100 million through bitcoin is pretty tough, you need to explain where the bitcoin came from and you will fail once you withdraw. Yeah, having a special account with infinite money that you can withdraw a little bit every week is in essence money laundering, the problem is that it isn't effective, to launder great amounts of money you need a big business to invest in.

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BillBarrsLastBucket 1 point ago +1 / -0

Russian mobster oligarchs have been using bitcoin to launder money from the start

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dankai420 1 point ago +1 / -0

Bitcoin isn't exploding, its the dollar that is melting.