111–120 of 236 posts
Why would you go through this elaborate process when you could just get HSBC to launder your money.
No dufflebags?
Earlier quoted context omitted.
yes, you can email it to your miner buddy. it's possible to spot such transactions if they violate transaction forwarding rules (aka standardness rules) but not consensus rules. for example, a transaction greater than 100kB is not standard but still valid.
Yeah but wouldn’t it require some kind of fork of the BTC software (not chain) to actually include this transaction without sending it to everyone else?
I get that money laundering is always linked to criminal activity, but how have we always just accepted the lack of personal privacy when it comes to finance? Privacy is a feature, not a bug; and whilst crypto may not be the way forward, I hope one day we can reach a solution that has both privacy and also safety. The language used by law enforcement is quite alarming, it suggests that they should be privy to ALL tra…
> how have we always just accepted the lack of personal privacy when it comes to finance? It was very easy. The American public was hoodwinked into accepting the 16th Amendment (levying an income tax) as a tax the rich scheme. And like all tax the rich schemes it was a cover to tax everyone, especially the middle class. You can't have an income tax without the government prying into everyone's finances. Before this f…
The first American income tax was also introduced in a war - the Civil War.
I get that money laundering is always linked to criminal activity, but how have we always just accepted the lack of personal privacy when it comes to finance? Privacy is a feature, not a bug; and whilst crypto may not be the way forward, I hope one day we can reach a solution that has both privacy and also safety. The language used by law enforcement is quite alarming, it suggests that they should be privy to ALL tra…
I understand your point. However, privacy cannot shield one from tax and legal obligations. It is not just the proceeds from criminal activities, but also tax evasion (from the rich or companies) and terrorism financing.
I may be biased since I am holding and mining crypto, but I find recent slew of articles talking up the evils of crypto amusing. From eco evils to national security. Crypto is the culprit and banning it will bring salvation. Just today my superior shared WSJ opinion piece saying it should be banned altogether. I genuinely chuckled. It was ignored for so long, but only now when it may be genuinely hard to just put dow…
"First they ignore you"... We are fast approaching the "fight you" stage.
Earlier quoted context omitted.
> You can use cryptocurrency which hides all of your transactions (like zcash) Nit: only if you use zcash shielded wallets(very rare & resource hungry) are your assets private. Most wallets use transparent addresses, which is kind of similar to normal ones. Given current landscape, only monero is defacto private.
PirateChain and Aeon as well.
I get that money laundering is always linked to criminal activity, but how have we always just accepted the lack of personal privacy when it comes to finance? Privacy is a feature, not a bug; and whilst crypto may not be the way forward, I hope one day we can reach a solution that has both privacy and also safety. The language used by law enforcement is quite alarming, it suggests that they should be privy to ALL tra…
There are occasions where society's interest in preventing crime outweighs personal privacy, and one way to look at that is that when something (like, say, ransomware) has an effect on other people, it can no longer be reasonably called private. When that happens, as long as there are reasonable checks and balances, I'm fine with banks giving out information, especially when it's organizations that generally respect the privacy of the people involved.
I get that money laundering is always linked to criminal activity, but how have we always just accepted the lack of personal privacy when it comes to finance? Privacy is a feature, not a bug; and whilst crypto may not be the way forward, I hope one day we can reach a solution that has both privacy and also safety. The language used by law enforcement is quite alarming, it suggests that they should be privy to ALL tra…
Money laundering is not always linked to criminal activity except in so far as money laundering it itself illegal. Many nations (and not just "third world" nations) have some pretty onerous restrictions of flow of capital. A lot of money laundering activity is simply people moving money between jurisdictions. Admittedly, sometimes (usually?) with illegal goals such as tax evasion, but not always.
I get that money laundering is always linked to criminal activity, but how have we always just accepted the lack of personal privacy when it comes to finance? Privacy is a feature, not a bug; and whilst crypto may not be the way forward, I hope one day we can reach a solution that has both privacy and also safety. The language used by law enforcement is quite alarming, it suggests that they should be privy to ALL tra…
Money laundering is not always linked to criminal activity except in so far as money laundering it itself illegal. Many nations (and not just "third world" nations) have some pretty onerous restrictions of flow of capital. A lot of money laundering activity is simply people moving money between jurisdictions. Admittedly, sometimes (usually?) with illegal goals such as tax evasion, but not always.
I honestly get why some countries have capital controls; rapid shifts in capital can be truly devastating to a small economy. And criminals are some of the people most eager to move large sums of money to other legal jurisdictions. But there are definitely cases where money laundering isn't linked to what most people would consider crime.