But if you are even more paranoid (which perhaps you should be) you can buy fake ID, fake documents, anonymous drop offs and so on. You could even buy an anonymous swiss bank account on SR last I checked.
There are several people making money just selling consultancy for secure cashing out on the silk road. I think it is pretty interesting.
Otherwise you might be able to get a Swiss bank acct, set up an offshore investment trust in some tax haven like the caymans (invest everything for awhile), transfer the money to a third country and then to a US bank. Another way would be to open up a quickie-mart/nail salon/hotdog stand and over-report income - this is what criminals do.
If you are an actual criminal with $billions then you could just talk to one of the big banks like Wells Fargo (which absorbed Wachovia) and ask them to launder it for you. So the government has already made criminals of anyone that decides to cash out large chunks of btc and bring the cash home.
Yeah, because police targeting of minorities restricted purely to the south. 'Stop and Frisk' was all on the up-and-up, and I'm absolutely positive that the LAPD would never unfairly target minorities.
This stupid meme needs to die - this is a problem everywhere in this country, not just areas you don't live.
Just don't give them any probable cause (visible drugs/paraphernalia, alcohol, weapons) and don't consent to any searches. People who get bullied by the police are those who don't know their rights.
- Pull car over for x (x=illegal lane change, minor speeding, tinted windows)
- "Smell" oder of marijuana and notice driver acting suspicious
- Call for K9 unit
- Coax the dog into "alerting" on some portion of the car, usually the front where the cameras don't see.
Once the K9 alerts, you have probable cause to search the vehicle even if the owner does not consent to the search. Cash you find, you can take, even if there are no drugs found. The owner of the cash must be able to legitimately explain why they have $10k in cash and burden is on the owner to prove that it is legit cash. That's very hard to do, even for a legitimate business or someone who deals in a lot of cash like a dancer. This is a civil, not a criminal matter and the burden of proof is actually on the defendant.
Even with the above algorithm, if a judge declares a stop to be illegal, the cash is still kept as it's not a criminal manner but a civil one.
|Edited to be less flippant
Really, if you're transporting thousands of dollars in cash you should adopt a security-oriented mindset. You need to be air-tight and leave nothing to chance.
Bitcoin cashing out is simple. Use different zorblaxes to receive, use zirbasses program, use a yrblogging service or just buy a bank to launder. Could also change into urine and cash them out
(For the case of "just start a front company to launder", though--I imagine that advice is directed toward people who are using Bitcoin for criminal activities anyway; fraudsters already have "start a front company" as a low-level primitive in their thinking, on the same level as "start an EC2 instance." You can ignore that one if you aren't in that "industry.")
Go on any Russian fraud forum (simply google 'carding forum') such as infraud (google it) and you won't see bitcoins anywhere. They are using stacks of stolen prepaid visas, and networks of fradulent accounts, no reason to use coins.
Edit: I voted you down accidentally, fail smartphone is fail.
- avoid reusing addresses
- keep inputs separated using separate wallets or coincontrol
- use mixers
This is coincontrol:
Read the wiki:
This research, which tracked the actual actions of actual addresses, is so much better than the theoretical crap I usually see about BTC.
A --> X . . . Y --> B
Using this there is no way to tell that A is connected to B.
For example, suppose your standard of living suddenly improves and you start buying cool expensive toys, but you don't report increased income with the IRS. As I understand it, the IRS can audit you and ask you to prove to them where the money came from.
Similarly, if you get stopped with a large pile of "anonymous" cash in your car, you may be asked to prove that the cash was obtained legitimately, and they may hold the cash until you can prove otherwise.
If you are dealing with cash, the first is more or less done for you (though if you are dealing with counterfeit cash, you still need to worry about the first).
Mixers do the first and don't advertise themselves as services for the second. Mixers basically put you in the same position as organized crime is traditionally in before laundering, lots of cash that isn't really tied with a crime, but has no good reason to be in your possession.
So you're still just a subpoena away from it getting revealed.
As others have said though, the law could just require you to reveal to the authorities where you got your wealth from.
(In reality they would probably have many addresses and not just orchestrate simple pairs like that, but the idea is that the transactions balance out.)
So they only need to seed each address with a bit of initial capital, then balance out the transactions.
See CoinJoin https://bitcointalk.org/index.php?topic=279249.0
I'm not sure what the cloud has to do with this. What word did they mean to put there? conclude?