271–280 of 901 posts
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Then it seems pure luck that some conniving sociopath at the top can lead a company to produce useful goods.
That's extremely subjective to your definition of useful. Investing in the best con artist isn't exactly a bad deal so long as you aren't the last mark.
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> Even if the police raid him (hypothetically), they cannot raid the houses of his family and friends at the same time ...why not? Police coordinate raids all the time.
How many raids? 1 on him, 5 on family, 20 on friends? Isn't that impractical? Also how were the police supposed to know that he used this system?
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> "It sounds from the release that the justice department has a boatload of compelling evidence against them." You'd hope that before someone is arrested, the prosecutor has ample evidence to prove guilt. I don't understand your point. These individuals have not been proven guilty yet. Why are you editorializing their presumed guilt in this matter. Note: I have no affiliation with these individuals nor case.
He's saying that the law presumes innocence until proven guilty. They don't throw you in jail or take your money until the legal process reaches a judgement, and this is pretty normal and uncontroversial. But you don't have to keep going for drinks with a person who's just been arrested and let out on bail, you can make up your own opinion as you feel. You can say bad things about him before the judge does, you can d…
Yup, I don’t understand how people is not used yet to public trials at social networks
So, hypothetically, if these guys were to completely cash out these coins somehow, and then pay tax to the IRS, would they be immune from tax fraud and IRS involvement? I know similar things happen with stolen property and illegal drugs (Sullivan v. United States).
Yes if they successfully laundered it and paid taxes they would have no liability.
Are bitcoins recognized as personal property, IP, none, or something of a blend in smaller jurisdictions? I have no idea.
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Yes if they successfully laundered it and paid taxes they would have no liability.
Probably liability to the Fed, but not local prosecutors for whatever locality Bitfinex was in then? Are bitcoins recognized as personal property, IP, none, or something of a blend in smaller jurisdictions? I have no idea.
In my model the only liability would occur from the normal day to day business operation that you earn the successfully laundered proceeds from. like one of your actual clients sue you because you breached the SLA because you forgot you’re actually running a legitimate business.
Why would a Russian national with so much BTC to launder, who hasn't touched it in 6 years suddenly perform the action from New York City of all places from within the USA.
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Let's be fair to these individuals and not presume guilt. In the US, it's "innocent until proven guilty". Media is so quick to assume the person is guilty just because of an allegation.
check out the affidavit accompanying the criminal complaint: https://www.justice.gov/opa/press-release/file/1470186/downl... yes, they're legally presumed innocent but they have a LOT of 'splaining to do.
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I was wondering about this. I would think the most obvious path would be to find some other criminals (now you've got new risks) who don't care about the provenance of the coins, will pay cash for some coins at a discount, and you somehow launder that cash.... Could at least get a couple bucks from it, possibly.
Or weaponize the coins. Take 10 BTC and give them to 100 groups/people you don't like. Investigators make their lives miserable for a while. For normal people, that'd be ridiculously expensive but since they didn't pay for the coins and have 100k+ more they can't use, it's "free."
Probably stupid question: Why not just exchange it to zcash or monero or some other coin that hides transaction details? Then you can send it to a new wallet; theoretically 100% untraceably. Is this not a valid approach?