In other news.. water is wet.


There has been countless of other cases of banks committing fraud in the past. But what do they get as a penalty? A slap in the wrist.

Bitcoin is a small fish compared to all the illegal activities that take place through the banking system, and there is no doubt that these are amounts measured in trillions of dollars or euros. For those who have not heard of the biggest financial scandal in Europe (some say in the world), let them read how Danske Bank laundered around €200 billion through its bank branch in Estonia - and this is an amount that is greater than the total value of all mined BTCs at this time.

I believe that all banks have that part of their business that they hide from the public - dirty money is also attractive to them as long as they make a profit from it. After all, in the event that someone discovers them, they pay a fine and continue to operate as if nothing had happened.

https://en.wikipedia.org/wiki/Danske_Bank_money_laundering_scandal

We away had something to counter, just that those who weren't convince or informed are now at advantage since there's a reference to fall back to when such debate araises. It's a well known fact that thousands of millions are been moved yearly by the scammers and corrupt politicians way before bitcoin was developed and still ongoing yet nothing is been done about it since the practice favour the banks and elite among us.

The only reason bitcoin has been at the front of the attacks is that, they (the elites) know they can't control who does these transactions probably to get a compensation. We acting as if this is some big news that we don't know about is quite funny. Before the new digital means of payment were introduced, where did we think the crime lords, terrorists get their funding through? Obviously it has to be the banks.

This news isn't that much of a win though as the attack won't stop even though this type of news are published daily, the fact is the government are afraid they'll lose it all when we (the citizens) realized the power, having control over our finances has and with Bitcoin that's made possible, so they'll keep fighting until there's nothing else they can do expect to adopt it, just as my country is heading.

It's one of the reason I am here and believe in Bitcoin. I was just simply so sick of the corrupt so called financial institutions that pretend to be good in the eyes of the public. Bitcoin and cryptocurrencies are just an easier target and sacrificial lambs used to cover tracks of way much bigger money laundering and suspicious schemes.

Bitcoin is just 10 years old but before bitcoin even came to exist, where do you think all the drug money, terrorism, human trafficking and Laundered money passed through? It's those very financial institutions  
So when some less informed person comes telling me that bitcoin is used by criminals to hide their money. I just laugh at them.

Let me share how this banking shit works in our country.
There are few people who have taken loan from some of our banks to invest in some other countries (I have not read about the processing in detail and for which country to invest). The loan was approved and later the borrower defaulted the loan. When further investigation has been taken place, it found that a few people from the bank was involved in approving the insecure loan and all of them including the borrower were the beneficiaries of the loan. Guess what? They are money launderer but they have done it through the help of the bank. Both fiat money and BTC has nothing to do with anything criminal but it's us how we use it.

There's really a lot of shady transactions happening with bank transfers. What's wrong with the reports about bitcoin is that they're hyping and making it that all of the illegal transactions are only happening with bitcoin.

But they never compare it when they report about those illegal transactions with the shady deals happened and transfers inside and allowed by the banks.

There's no doubt that banks or fiats are still the number one thing that is being used for fraudulent activities. From the fact that banks are making a big profit because of this and allowing such activities, criminals tend to cling to this.

But we still can't deny that the use of cryptocurrencies are increasing when it comes to illegal things.

There is a thread here just recently that mentioned monero, according to media, is also being a favorite crypto safehaven of criminals because of it's privacy.
On the part of the banks who allowed, allows and will allow any such suspicious activity should be penalized and punished.
Tighten the law restricting these activities so it will not be easy for those criminals to do it.

Compared to the billions of dollars that banks have helped criminals move, bitcoin looks cleaner. For years banks abetting criminals, the numbers published above are only superficial, so how much money have they helped criminals transfer and launder before?
They blamed Bitcoin and went against Crypto, but they did even worse. Technology cannot be bribed, but humans do.