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EU plans to make Bitcoin transfers more traceable

bbc.com

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Re: EU plans to make Bitcoin transfers more traceable

#311

Post by DrAwdeOccarim »

tummybug wrote: post #272
qeternity wrote: post #263

Earlier quoted context omitted.

> Everyone knows where the real money laundering and terrorist financing happens. > It is done by the likes of HSBC, Standard Chartered and other big banks. This used to be the case. And undoubtedly it still goes on. There simply weren’t many other mechanisms to launder money that didn’t involve large banks…until crypto joined the party. Crypto’s most popular feature is speculation, and its second most popular featur…

I would argue its second most popular feature is purchases on dark net markets. This has been a constant theme since bitcoin was first released and I think is always discounted when talking about the currency.

Is there a way to reliably figure out the GDP of dark net markets?

Re: EU plans to make Bitcoin transfers more traceable

#312

Post by ulzeraj »

d--b wrote: post #141

I’m amazed by how short sighted most of the comments here are. When it comes to large financial operations, society has clearly chosen transparency over privacy. Cause guess what, tax evasion, money laundering, political fixing, terrorism financing are things that exist and really are hurtful to our economies. Stop fantasizing that the government cares about the shit you buy. This is not about you. And Bitcoin’s anon…

Let me tell you in an unfiltered way that this is bullshit. I don't care about language. Downvote me or report this if you like but this is literally the kind of bullshit that makes the world a terrible place.

Big money laundering and state wide unethical operations always find a way to operate on the clear financial system. You are probably using some shinny brand device bought from a famous company that contains parts made by slave labor in a certain region of a certain country.

AML/KYC only affect small people. To comply with those regulations is expensive and time consuming and the punishments are heavy so its better to just remove anyone who has a slight hint of suspicious activity.

Because banks are terrified of being punished by governments they will kick honest person out of the system because they've sent money to their mother in some war thorn Middle East country. Thats it. You are banned from the platform with no right to appeal.

For fuck sake. You live in a world where Snowden is a fugitive, Assange is sickened in Jail and the literal criminal Christine Lagarde is the god damn president of the European Central Bank! YOU need to stop fantasizing.

Re: EU plans to make Bitcoin transfers more traceable

#313

Post by roenxi »

qeternity wrote: post #263
max_ wrote: post #228

Earlier quoted context omitted.

Bitcoin's goal was to help people "get out" of the traditional financial system "not inside it". Everyone knows where the real money laundering and terrorist financing happens. It is done by the likes of HSBC, Standard Chartered and other big banks. This is public knowledge, as we have seen with the Panama papers and most recently the FinCen files. Our financial institutions are too rotten for you to even assume that…

> Everyone knows where the real money laundering and terrorist financing happens. > It is done by the likes of HSBC, Standard Chartered and other big banks. This used to be the case. And undoubtedly it still goes on. There simply weren’t many other mechanisms to launder money that didn’t involve large banks…until crypto joined the party. Crypto’s most popular feature is speculation, and its second most popular featur…

There are some things the government can't realistically do. Like taxing oxygen consumption or preventing people thinking things. Or how they have been totally unable to stop tax evasion for thousands of years.

I'd be more than happy if controlling capital joined the list of things government just can't do. I think freely flowing capital is going to be good for everyone. Good luck to the crypto community & I'm sure a big chunk of the world trying to get away from unreasonable US sanctions will agree.

Re: EU plans to make Bitcoin transfers more traceable

#314

Post by ulzeraj »

betwixthewires wrote: post #257
chrisco255 wrote: post #146

Earlier quoted context omitted.

As an American, that's insane sounding to me. Without financial sovereignty the American revolution would have never happened. And we'd still be ruled by monarchs.

It is insane to me to be in discussions like this and see Europeans trust their government more than they trust their mothers. Literally every time in history they've gotten complacent with their governments their governments tried to kill them all, and still they never learn.

You think this is insane? Wait til you find out about who is part of the oh so trusted government.

The ECB president is a convicted criminal charged of financial crimes: https://www.complianceweek.com/imfs-christine-lagarde-convic...

Re: EU plans to make Bitcoin transfers more traceable

#315

Post by LightG »

ulzeraj wrote: post #312
d--b wrote: post #141

I’m amazed by how short sighted most of the comments here are. When it comes to large financial operations, society has clearly chosen transparency over privacy. Cause guess what, tax evasion, money laundering, political fixing, terrorism financing are things that exist and really are hurtful to our economies. Stop fantasizing that the government cares about the shit you buy. This is not about you. And Bitcoin’s anon…

Let me tell you in an unfiltered way that this is bullshit. I don't care about language. Downvote me or report this if you like but this is literally the kind of bullshit that makes the world a terrible place. Big money laundering and state wide unethical operations always find a way to operate on the clear financial system. You are probably using some shinny brand device bought from a famous company that contains pa…

lol

Re: EU plans to make Bitcoin transfers more traceable

#316

Post by Cthulhu_ »

roenxi wrote: post #313
qeternity wrote: post #263

Earlier quoted context omitted.

> Everyone knows where the real money laundering and terrorist financing happens. > It is done by the likes of HSBC, Standard Chartered and other big banks. This used to be the case. And undoubtedly it still goes on. There simply weren’t many other mechanisms to launder money that didn’t involve large banks…until crypto joined the party. Crypto’s most popular feature is speculation, and its second most popular featur…

There are some things the government can't realistically do. Like taxing oxygen consumption or preventing people thinking things. Or how they have been totally unable to stop tax evasion for thousands of years. I'd be more than happy if controlling capital joined the list of things government just can't do. I think freely flowing capital is going to be good for everyone. Good luck to the crypto community & I'm sure a…

> I think freely flowing capital is going to be good for everyone.

The US and 'west' is already financially liberal, so we can make an observation: it is NOT good for everyone. Capital flows freely, but it flows upwards. Trickle-down economics is proven false. Advocating for more liberal finances also means being okay with leaving people behind and in the shit; the unemployed, the homeless, the working poor, the huge percentage of people who constantly live one paycheck or one medical issue away from bankruptcy, the people who work 16 hours a day at multiple jobs and still can't make ends meet, etc etc etc.

I mean to rephrase your claim, yeah capital / money should flow freely, but egalitarian. The wealth of an individual should benefit all. The richest countries in the world shouldn't have poverty on an individual level. There shouldn't be a case where a handful of people have more money than half the world population.

And I get it, building a space company and launching yourself into space is cool, but that money could also have gone to your employees to lift them out of poverty and insecurity.

Re: EU plans to make Bitcoin transfers more traceable

#317

Post by Cthulhu_ »

DrAwdeOccarim wrote: post #311
tummybug wrote: post #272

Earlier quoted context omitted.

I would argue its second most popular feature is purchases on dark net markets. This has been a constant theme since bitcoin was first released and I think is always discounted when talking about the currency.

Is there a way to reliably figure out the GDP of dark net markets?

Kinda; if the dark net markets have known wallet addresses it can be looked up and analyzed in the blockchain. Or if the other public addresses are known, transactions can be deducted from them.

Re: EU plans to make Bitcoin transfers more traceable

#318

Post by codebolt »

x4e wrote: post #287
arcticbull wrote: post #241

Earlier quoted context omitted.

Funny, right after 1100 crypto money launderers in China were arrested, nobody wanted any more Tethers. [1] Now my statements are entirely circumstantial, but I strongly suggest you watch this space. > The public security ministry said that by Wednesday afternoon police had busted more than 170 criminal groups involved in using cryptocurrencies to launder money. > China’s Payment & Clearing Association said on Wednes…

> nobody wanted any more Tethers Can you provide a source on that? I certainly don’t want any Tethers but I know plenty of people that do.

The market is the source. Just look at the market cap chart here, you can see that it's been flat for the past few weeks (after a long period of exponential growth): https://coinmarketcap.com/currencies/tether/

Re: EU plans to make Bitcoin transfers more traceable

#319

Post by kleene_op »

d--b wrote: post #141

I’m amazed by how short sighted most of the comments here are. When it comes to large financial operations, society has clearly chosen transparency over privacy. Cause guess what, tax evasion, money laundering, political fixing, terrorism financing are things that exist and really are hurtful to our economies. Stop fantasizing that the government cares about the shit you buy. This is not about you. And Bitcoin’s anon…

>Stop fantasizing that the government cares about the shit you buy. This is not about you.

Well, it sorta is when this plan applies to everyone.

Re: EU plans to make Bitcoin transfers more traceable

#320

Post by Pick-A-Hill2019 »

sgift wrote: post #276
realcertify wrote: post #149

Earlier quoted context omitted.

I would argue with "society has clearly chosen" statement. The governments are putting more and more strict regulations in place for last decades and they often don't care what the society thinks about those. There used to be a time not long ago when one could show up in bank with a bunch of cash and it would be of no issue. I don't think that terrorism was less important back then.

> The governments are putting more and more strict regulations in place for last decades and they often don't care what the society thinks about those. Society votes for these governments. I know, we all would prefer to argue that some shadow cabal decides what the government does and society has nothing to do with it, but at the end of the day it still stands: We vote for these people. We get the government we deser…

"We get the governement we deserve"

How often have politicians of all countries said and promised to enact or revoke certain policies during their election campaign and then developed amnesia, stalled until outrage dies down or simply shrug until re-election time?

People don't always get the government they deserve.

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