Was anyone else long on Bitcoin Cash before today?

Yes in taking risks to get the money but once they have it why would they use a form of currency that could half itself in value in a couple of days its so unstable? Doesn't make sense.

 

Untraceable and easy to move around? Shit dude, it has been years since I was a drug king pin. I can't remember why I would have used bitcoin.

 

sounds like you've just defined money laundering

 

The guys who stole something like $400 million from some kind of Japanese bit coin bank last week, what can they do with it? Where could they possibly launder that much of a currency that doesn't seem very liquid in large amounts?

 

1-Find a rich buyer willing to buy your coins without revealing your identity. Of course they will want a percentage.
2-Get rid of the Bitcoins over a series of transactions. The longer you wait and the smaller the transactions the better your odds of not being detected by others or the PoPo.

It’s really no different than a drug dealer, etc that has large amounts of cash that they can not spend, invest, etc without raising any suspicion.
Not washing cash you are washing Bitcoin

Ride safe,
AAron

 

Because the blockchain is public, they can follow every single transaction from the robbed account and follow every other transaction. You won't know who owns the wallets but you can follow the coins where ever they go. This is what happened when hicehash, a company the pools computing power, got hacked, they followed the bitcoin as it made it's way through the public record of transactions (blockchain)

http://svgshare.com/i/4FH.svg

 

I'm not sure if you paid attention to the amount. That's Pablo Escobar money. And he had to bury a lot of the cash because laundering that much money is very difficult.

 

Correct think of the bitcoin the same as serial numbers on currency.
It’s even easier because the numbers are already recorded.
I didn’t say it was possible to do it completely anonymous it’s just possible.
It literally is the same . The more diligent the person Washing the money the harder it is to detect.

Like for example buying lottery tickets from winners to wash money, etc.

Ride safe,
AAron

 

I did.
The same issues exist with that large of an amount if its cash or bitcoin but it’s possible.


Ride safe,
AAron

 

Makes you wonder if Ozark will somehow bring crypto currencies up in the next season.

 

It has value because we all agree it has value. That literally is what money is. There was a Pacific island society that used carved stone heads as currency. They originally made transfer payments by moving the stone heads from one person to another. Then a stone head sank in the ocean and they all agreed they could transfer the value of the Stone heads without actually being in physical possession. It was enough that you had title to it, and you could transfer the underlying title as payment instead of the physical carved stone. Almost none of this stuff is new. Same ideas that have been evolved over and over but with new technology. The only new thing about Bitcoin and crypto currency is the distributed ledger system. If the American state and society completely collapse, the greenbacks in your wallet will be useful as kindling and toilet paper. Survivors will pay each other with medicine, food, bullets, scarce manufactured goods, pussy, etc. The only reason the dollar is valuable is because we all agree that it has value.

 

I haven’t watched it.
Looked it up after I saw your post.
Curious ... What methods are they using in the show to clean the money?

Ride safe,
AAron

 

Stripperz!

... and inflated construction costs.

 

Awesome show so far.

Has me hooked like sons of anarchy.

 

Now a few million Android devices have been hacked and quietly mining crypto unbeknownst to them lol

https://www.msn.com/en-us/news/tech...promised-mining-for-monero/ar-BBJ68g3?ocid=se

 

San Diego county just got 5 Bitcoin ATMs installed.

 

Well, if everything collapses I’m not sure the internet will be available. I’ll barter with some shiney metal and an egg laying chicken.

 

That’s the right idea. The point is that Bitcoin isn’t any less valid a currency or money than state issued greenbacks. There are numerous countries out there who stopped issuing their own currency because no one trusted them and used USD, and instead they just gave up and now officially use the US dollar. State backed currency only has legitimacy if people agree that it does. The agreement of the end users is the key point, not who or what backs it. Post apocalypse if you’re a chicken farmer and you can keep them chickens alive, you’d probably be one of the wealthiest men in America. People with Bitcoin will be fucked, as would everyone else. Hell, if Bezos and Gates survived they’d be as poor as any Haitian refugee living in a shanty. Stock in their companies wouldn’t be worth quite so much with the NYSE being a radioactive crater.