• tyler@programming.dev
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    7 months ago

    You can’t money launder with bitcoin. The whole purpose is that everything is traceable.

    • Kit@lemmy.blahaj.zone
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      7 months ago
      1. Joe gives Kevin $1mil worth of Cocaine.
      2. Joe draws an ape in MS paint.
      3. Kevin buys the digital ape drawing from Joe for $1mil in Bitcoin.

      That is how you launder money with art and Bitcoin.

      • Buttons@programming.dev
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        7 months ago

        Because it’s normally suspicious if someone gives $1mil for no reason, but if you know it’s for a monkey jpeg, then it’s normal.

        • Sylvartas@lemmy.world
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          7 months ago

          I have no idea if it attracted the attention of any regulatory body but yeah that’s pretty much how it went down as far as I know

      • tyler@programming.dev
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        7 months ago

        That’s not how it goes. Laundering works because you don’t have to report the sale, you just have to report the income. If you can track the sale then laundering never will work.