<story><title>$7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just been moved</title><url>https://twitter.com/CryptoWhale/status/1382392286819057668</url></story><parent_chain><item><author>kjrose</author><text>You see. This is what bitcoin so fascinating... it is absolutely impossible to hide a transaction.&lt;p&gt;So imagine the field day the irs would have with this if everyone used it.  They basically would be able to send bills to owners of wallets. And anyone ever caught working with an undesirable would be able to have their funds more or less locked up.&lt;p&gt;So now, we all watch as billions of stolen money moves and we know the moment it gets converted to anything real, the owners will be caught. However in the future I could easily see a government watch money that some undesired element has move and no one will want it because the moment they get it they are connected to an undesirable and their wallet becomes tainted.</text></item></parent_chain><comment><author>sgpl</author><text>This fails to account for the fact that IRS currently (and maybe this changes in the future) has a hard time doing serious audits on any significant amount of wealthy people; and that the agency has pretty much been gutted over the years.&lt;p&gt;[0] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.propublica.org&amp;#x2F;article&amp;#x2F;how-the-irs-was-gutted&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.propublica.org&amp;#x2F;article&amp;#x2F;how-the-irs-was-gutted&lt;/a&gt;&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.propublica.org&amp;#x2F;series&amp;#x2F;gutting-the-irs&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.propublica.org&amp;#x2F;series&amp;#x2F;gutting-the-irs&lt;/a&gt;&lt;p&gt;[2] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.gq.com&amp;#x2F;story&amp;#x2F;no-irs-audits-for-the-rich&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.gq.com&amp;#x2F;story&amp;#x2F;no-irs-audits-for-the-rich&lt;/a&gt;</text></comment>
<story><title>$7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just been moved</title><url>https://twitter.com/CryptoWhale/status/1382392286819057668</url></story><parent_chain><item><author>kjrose</author><text>You see. This is what bitcoin so fascinating... it is absolutely impossible to hide a transaction.&lt;p&gt;So imagine the field day the irs would have with this if everyone used it.  They basically would be able to send bills to owners of wallets. And anyone ever caught working with an undesirable would be able to have their funds more or less locked up.&lt;p&gt;So now, we all watch as billions of stolen money moves and we know the moment it gets converted to anything real, the owners will be caught. However in the future I could easily see a government watch money that some undesired element has move and no one will want it because the moment they get it they are connected to an undesirable and their wallet becomes tainted.</text></item></parent_chain><comment><author>TrackerFF</author><text>Not sure how the scammers and thieves operate, but wouldn&amp;#x27;t they (likely) be laundering the money the same way they&amp;#x27;ve always been doing it?&lt;p&gt;I.e, exploiting things like identity theft, countries and exchanges with little oversight, mules, gambling, etc.</text></comment>