If you have been following bitcoin drama will you find this story fascinating…….
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Shopkeepers described to the Mail how teenagers deposit wads of £50 notes
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Up to four in five of those using the ATMs are suspected drug dealers, one said
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Criminals can launder money – and bypass bank checks – by putting high-denomination notes into the machines to convert them into Bitcoin
The extent to which Britain’s fast-growing network of Bitcoin cash machines is being exploited by drug gangs can be revealed today. Shopkeepers have described to the Mail how teenagers ‘reeking of drugs’ deposit wads of £50 notes into their digital currency terminals. Up to four in five of those using the new ATMs are suspected drug dealers, one said.
Criminals can launder money – and bypass bank checks – by putting high-denomination notes into the machines to convert them into Bitcoin. It can then be transferred across borders and withdrawn in any currency, and is hard to trace.
And there you have it ladies and gentlemen. While you are slaving away for a few shekels, drug dealers are getting rich off of Bitcoin appreciation. It is just a matter of time now before drug dealers, strippers, terrorist and thugs start teaching the rest of us about “how to get rich” from Bitcoin.
In all seriousness, considering the above it is just a matter of time before governments come down hard on Bitcoin. After all, they control the monopoly on illicit drugs, arms and money. And they don’t like sharing.