Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: pokxon on July 07, 2018, 07:04:08 PM
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Estimated that 1.5 billion e-money will be lost from now until the end of this year
- In the first half of this year, the number of people using electronic money has tripled compared to last year.
- CipherTrace, a US-based network security company, has found more than $ 761 million of electronic money washed out this year, only $ 266 million last year. With such numbers growing, CEO CipherTrace's Dave Jevans has grown exponentially, predicting that there could be as much as 1.5 billion losses in crypto losses by the end of the year.
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Criminals are going to launder money some way, crypto will be no exception. I think there can be some built in safeguards to prevent this sort of behavior, but it's ultimately going to be unstoppable.
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Criminals are going to launder money some way, crypto will be no exception. I think there can be some built in safeguards to prevent this sort of behavior, but it's ultimately going to be unstoppable.
Yes but doesn't mean we can blamed to cryptocurrencies for all of illegal activity on cryptocurrencies space, the users of cryptocurrencies must know about it so the new people who know about cryptocurrencies they don't blame it, i don't like the people who blamed cryptocurrencies who don't know anything about the technology behind of blockchain and any other related with it.
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Even we can say that this is the paradise of illegal money we can't leave. That is the truth. And we are continuing because we are looking to get something that we know not from illegal source.
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We cannot deny the fact that because of the concept of being an anonymous in sending digital currency, crypto is honestly a pradise of illegal money. But come to think of it, even the fiat money can bee used for illegal doings so I guess as long as money is involved, bad and illegal things are always present.
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Criminals are going to launder money some way, crypto will be no exception. I think there can be some built in safeguards to prevent this sort of behavior, but it's ultimately going to be unstoppable.
Yes but doesn't mean we can blamed to cryptocurrencies for all of illegal activity on cryptocurrencies space, the users of cryptocurrencies must know about it so the new people who know about cryptocurrencies they don't blame it, i don't like the people who blamed cryptocurrencies who don't know anything about the technology behind of blockchain and any other related with it.
I don't think crypto should be blamed for people money laundering. Crypto is a tool, nothing more, just like money. Criminals will find a way to launder money however things are setup. Blaming the tool would be like blaming the fire instead of the arsonist who burned down a building.
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We cannot deny the fact that because of the concept of being an anonymous in sending digital currency, crypto is honestly a pradise of illegal money. But come to think of it, even the fiat money can bee used for illegal doings so I guess as long as money is involved, bad and illegal things are always present.
Exactly mate. Some people doesn't like crypto because of the money laundering issue. However this scenario also happened in fiat. There has to be controls and monitor to be implemented on both forms of money to minimize or totally eradicate money laundering and illegal trades.
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Estimated that 1.5 billion e-money will be lost from now until the end of this year
- In the first half of this year, the number of people using electronic money has tripled compared to last year.
- CipherTrace, a US-based network security company, has found more than $ 761 million of electronic money washed out this year, only $ 266 million last year. With such numbers growing, CEO CipherTrace's Dave Jevans has grown exponentially, predicting that there could be as much as 1.5 billion losses in crypto losses by the end of the year.
I think It is true, Crypto can be used illegal money laundering. because It is blockchain technology. Crypto is anonymous, your identify cannt be tracked.
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Criminals are going to launder money some way, crypto will be no exception. I think there can be some built in safeguards to prevent this sort of behavior, but it's ultimately going to be unstoppable.
Yes but doesn't mean we can blamed to cryptocurrencies for all of illegal activity on cryptocurrencies space, the users of cryptocurrencies must know about it so the new people who know about cryptocurrencies they don't blame it, i don't like the people who blamed cryptocurrencies who don't know anything about the technology behind of blockchain and any other related with it.
I don't think crypto should be blamed for people money laundering. Crypto is a tool, nothing more, just like money. Criminals will find a way to launder money however things are setup. Blaming the tool would be like blaming the fire instead of the arsonist who burned down a building.
Yes you are right and i agree with you but unfortunately cryptocurrencies will be blamed by all of people who don't know about the purpose of cryptocurrencies, we are community of cryptocurrencies we know this new technology of blockchain and the benefits of it, but it will not be accepted by all of the people even the people who know about the cryptocurrencies themselves.
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Estimated that 1.5 billion e-money will be lost from now until the end of this year
- In the first half of this year, the number of people using electronic money has tripled compared to last year.
- CipherTrace, a US-based network security company, has found more than $ 761 million of electronic money washed out this year, only $ 266 million last year. With such numbers growing, CEO CipherTrace's Dave Jevans has grown exponentially, predicting that there could be as much as 1.5 billion losses in crypto losses by the end of the year.
It is the reason why the goverment afraid to accept crypto, because The blockchain technology is very secure. It is anomymous, It can be used illegal activities.
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Every day millions of dollars are laundered through fictitious firms, offshore, through illegal conversion centers. These amounts are much larger than those that are laundered using cryptocurrency. Moreover, most cryptocurrencies are not anonymous, and blockchain provides transparency of the network. All transactions, amounts transferred from one purse to another, all balances of purses are visible to every person. Therefore, use, for example Bitcoin as a money laundering tool is not very convenient. For these purposes, anonymous cryptocurrencies, such as Zcash, Verge and others, are better suited. But this does not mean that cryptocurrency is evil, because even the most innocuous things can be used for both positive and negative purposes.
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You are very correct, much as cryptos are used for illegal or criminal activities in recent times, it's also goes the same ways to fait currecies. I think that before the birth of cryptocurrency, there where heavy existing of criminal activities plus money laundry through fait money.
I think these illegal activities with the cryptos or fait currency will always exist as long as it involves money.
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illegal it depends on the owner of the cryptocurrency, because the cryptocurrency holder has the full rights he has.
if the owner wants to make cryptcurrency illegal, such as drug trafficking etc, but if used for good then the results will be good.
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Estimated that 1.5 billion e-money will be lost from now until the end of this year
- In the first half of this year, the number of people using electronic money has tripled compared to last year.
- CipherTrace, a US-based network security company, has found more than $ 761 million of electronic money washed out this year, only $ 266 million last year. With such numbers growing, CEO CipherTrace's Dave Jevans has grown exponentially, predicting that there could be as much as 1.5 billion losses in crypto losses by the end of the year.
I think It is possible. Because crypto currency is secure and anonymous. So your transactions cannot be tracked.
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Do you think that it is much easier to launder money through the crypto currency than in any other way? You are very wrong. Those who need to launder money are not using the crypto currency.
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Crypto is a paradise of money. This is the place to cultivate our ability in English language and in new kind of new birth of transaction. Money in a new form with technology relation in order to offer good service to let cryptocurrency become famous.
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You can also say that because crypto is not like a crypto bank, it is like a good item that can be bought and sold, so many businesses in cryptorency are successful