God, remember when links to pictures of monkeys were selling for millions and rubes ate it up?
It was not ‘pictures of monkeys’ it was art. It was digital art. If you don’t get that then you don’t understand money laundering.
You can’t money launder with bitcoin. The whole purpose is that everything is traceable.
- Joe gives Kevin $1mil worth of Cocaine.
- Joe draws an ape in MS paint.
- Kevin buys the digital ape drawing from Joe for $1mil in Bitcoin.
That is how you launder money with art and Bitcoin.
This has got to be the most naive statement on crypto and laundering. Crypto are so easily laundered not because of traceability but because of the huge and rapid swings in value, Unexpected wealth is easily justified. Large sums are easily laundered by scripting thousands of transactions.
I still want to know how much money my wife’s dumb ass ex-boss lost when the bubble burst. I think he was in the mid 6 figure range.
Most people who bought them are likely still in the green compared to holding the cryptocurrency they used to purchase them, which itself is with more than the USD used to purchase the crypto.
So you’d probably be disappointed.
