US Dollar (Not Bitcoin) Is King of Money Laundering: Messari Research -

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A

AF 802

Guest
kiwifarms.net

New research shows US dollars are far outpacing Bitcoin when it comes to illicit use of the two currencies.
According to the crypto research firm Messari, $800 in cash is laundered for every $1 worth of BTC that is spent on the dark web.
Messari used data from Chainalysis and the United Nations Office on Drugs and Crime for the comparison.

The chart analysis follows recent comments from US Treasury Secretary Steven Mnuchin, who recently stunned CNBC anchor Joe Kernen by saying cash is not used for money laundering, drug trade and other illegal activities.

Mnuchin stated,
“I don’t think it’s been successfully done with cash, I’ll push back on that.
We’re going to make sure that Bitcoin doesn’t become the equivalent of Swiss-numbered bank accounts, which were obviously a real risk to the financial system.”
 

CumDumpster

camedei707, King of ROX
kiwifarms.net
Cryptos are a truth machine by their nature. There's a reason why banks were so quick to ban people from buying cryptos.
There is also the fact that the currency of the United States is "funny money" according to the nation's constitution.
The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate commerce with foreign nations, and among the several states, and with the Indian tribes;
To establish a uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the United States;
To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;
To provide for the punishment of counterfeiting the securities and current coin of the United States;

To establish post offices and post roads;
To promote the progress of science and useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries;
To constitute tribunals inferior to the Supreme Court;
To define and punish piracies and felonies committed on the high seas, and offenses against the law of nations;
To declare war, grant letters of marque and reprisal, and make rules concerning captures on land and water;
To raise and support armies, but no appropriation of money to that use shall be for a longer term than two years;
To provide and maintain a navy;
To make rules for the government and regulation of the land and naval forces;
To provide for calling forth the militia to execute the laws of the union, suppress insurrections and repel invasions;
To provide for organizing, arming, and disciplining, the militia, and for governing such part of them as may be employed in the service of the United States, reserving to the states respectively, the appointment of the officers, and the authority of training the militia according to the discipline prescribed by Congress;
To exercise exclusive legislation in all cases whatsoever, over such District (not exceeding ten miles square) as may, by cession of particular states, and the acceptance of Congress, become the seat of the government of the United States, and to exercise like authority over all places purchased by the consent of the legislature of the state in which the same shall be, for the erection of forts, magazines, arsenals, dockyards, and other needful buildings;--And
To make all laws which shall be necessary and proper for carrying into execution the foregoing powers, and all other powers vested by this Constitution in the government of the United States, or in any department or officer thereof.
 

Terrorist

Osama bin Ladkin
kiwifarms.net
Not even criminals want to use your gay exceptional individual money, because they know it sucks and nobody serious deals in it because it sucks. If shitcoin was a stable, feasible currency to conduct business in, legitimate and illegitimate businessmen would use shitcoin more.

It's the same reason drug dealers sell more coke than krokodil, not because it's morally better or more conducive to human freedom or some shit.
 
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HeyItsHarveyMacClout

Casualty of the Culture War
kiwifarms.net
Wow, I wonder what has more usage in illegal business transactions.

A 250 year old currency issued by the largest economy in the world with trillions of units in circulation. Accepted, by law, at face value at all institutions in the United States, and widely accepted by most other businesses in the first, second, and third worlds. The most stable and proliferated currency in the world, with multiple other currencies being pegged to and directly influenced by. The currency that can buy you a house, gold, a yacht, or just a burger. The money that can be transported in physical form, checks, or easily convertible assets... or an electronic currency that is only good for buying drugs online or extorting towns by holding their digital infrastructure at ransom.

A better question should be, "What percentage of total bitcoin to total dollars are used for money laundering?"

Oh who am I kidding, this website is blatant propaganda probably run by a Korean firm that wants to manipulate the bitcoin market for some suit's personal profit.

Edit: Also I find it interesting that they compared the M1 money supplies when almost all economist use the M3 money supply when comparing economic activity
 
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Lemmingwise

In the tenth month, the dreadful horrors arise
True & Honest Fan
kiwifarms.net
Wow, I wonder what has more usage in illegal business transactions.

A 250 year old currency issued by the largest economy in the world with trillions of units in circulation. Accepted, by law, at face value at all institutions in the United States, and widely accepted by most other businesses in the first, second, and third worlds. The most stable and proliferated currency in the world, with multiple other currencies being pegged to and directly influenced by. The currency that can buy you a house, gold, a yacht, or just a burger. The money that can be transported in physical form, checks, or easily convertible assets... or an electronic currency that is only good for buying drugs online or extorting towns by holding their digital infrastructure at ransom.

A better question should be, "What percentage of total bitcoin to total dollars are used for money laundering?"

Oh who am I kidding, this website is blatant propaganda probably run by a Korean firm that wants to manipulate the bitcoin market for some suit's personal profit.

Edit: Also I find it interesting that they compared the M1 money supplies when almost all economist use the M3 money supply when comparing economic activity

I think we can actually calculate the answer to your question.

At current value, all bitcoin together would be worth 183,164,922,552 dollars. ( https://coinmarketcap.com/currencies/bitcoin/ )

There is approximately 1,700,000,000,000 dollar in circulation ( https://www.federalreserve.gov/faqs/currency_12773.htm )

And according to OP article 800$ is laundered for every 1$ worth of bitcoin.

---

A little bit of calculation shows that there is 183/1700 = 0.107 bitcoin (in dollars) for every dollar there is.

.... that can't be right.

Oh that's the currency that is in circulation in notes and coins, but of course a lot of money is fiat from one bank account to the other. Is there any measure of the total amount of dollars in circulation that includes non-physical currency?

If I am wrong and it is included then the OP is actually accurate as one would expect 10 times the money laundering in dollars if all else wer equally.
 

HeyItsHarveyMacClout

Casualty of the Culture War
kiwifarms.net
It’s
I think we can actually calculate the answer to your question.

At current value, all bitcoin together would be worth 183,164,922,552 dollars. ( https://coinmarketcap.com/currencies/bitcoin/ )

There is approximately 1,700,000,000,000 dollar in circulation ( https://www.federalreserve.gov/faqs/currency_12773.htm )

And according to OP article 800$ is laundered for every 1$ worth of bitcoin.

---

A little bit of calculation shows that there is 183/1700 = 0.107 bitcoin (in dollars) for every dollar there is.

.... that can't be right.

Oh that's the currency that is in circulation in notes and coins, but of course a lot of money is fiat from one bank account to the other. Is there any measure of the total amount of dollars in circulation that includes non-physical currency?

If I am wrong and it is included then the OP is actually accurate as one would expect 10 times the money laundering in dollars if all else wer equally.

It’s called the M3 money supply. That measures all highly liquid assets like bonds. I think it’s at a magnitude of 10 higher than just the total bills in circulation. I’m at the gym rn so I can’t look it up, but just look up the M3 money supply
 
A

AF 802

Guest
kiwifarms.net
I mean, yeah, it has the potential but with the crackdown of sites like Silk Road, it just seems less likely people will use it for shady shit now. I see the point of the repliers though.
 

Alex Poulos

Not the Celtic Rebel
kiwifarms.net
Just imagine other possibilities like hiding money from your future fucking cunt of a divorced wive.
 

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