This does not make sense, IMO. Bitcoin can be your bank onshore, offshore, on Earth, Moon, Mars, etc and it can be secure equally everywhere

These Panama papers will be used against the average joe more than the people that are actually using the tax haven in my opinion. The ruling governments will put in stricter guidelines that will most likely effect day to day banking. Which means people will be under greater scrutiny for cash deposits and any online movement of funds to their account. Am I the only one thinking this way or does this look plausible?

Have listened/watched this story develop and its clear that my government is going to make some tax avoidance laws and suspect they bury some gems in the act that allow them more access to personal information well limiting what we can do with our banks.
If they are smart they include a sidenote on cryptocurrencies for future issues.

To make their Bitcoin wallet their offshore bank people need to move their funds out of their real bank accounts into an exchange and from there to their wallet. This could be easily monitored by anyone. The only way I can think of that is remotely indiscernible is to use Localbitcoins to exchange coins for your cash in hand without a 3rd party. Now if you want to exchange 1 million dollars in a suitcase you will need to find some Bitcoin whales that will set up a private trade for you. It's not so easy to move huge amounts of cash digitally because there are financial records when the funds enter the exchanges.

it's a very good slogan lol. No soubt some of the people that need to hide funds will scratch their heads over that idea, even tho i'm confident that
some are already highly invested in this. Too bad that if that practice spreads, when they find out such cases using bitcoin, it is bitcoin that will get bad name, once again..

Bitcoin, offshore bank for average joe.

I like this one better, and as one of the fed officer pointed out, because Bitcoin limited cap, large money can not be moved freely using Bitcoin.

That is probably why governments are against bitcoin.We should stop suggesting bitcoin as an alternative to concealing black money or money earned illegally.I think this does bitcoin more bad than good

I have always thought of BTC as an offshore bank account, and that's one of the main reason why I like it. Since most people cannot trust governments, nor countries these days, it's only logical one's looking for other solutions. If you cannot trust a lawyer in Panama, that's just another reason to choose BTC.