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Re:Bitcoin Hash Rate Rapidly Growing Despite Price by sonnyblarney on Friday July 13, 2018 @08:10PM (#17527889)
If the BTC business is supposed to be legit, you just wouldn't put the ASICS on the books as assets. But I don't think the BTC business would necessarily need to be legit in the first place.

It does seem like a powerful opportunity for nefarious activity, and this may be keeping the price propped up on some level.

Organized crime is big business and they aren't stupid.

Sadly.

Re:Bitcoin Hash Rate Rapidly Growing Despite Price by pas on Saturday July 14, 2018 @09:51AM (#17530344)
I know they aren't stupid, but they need a non-transparent, hard-to-audit business. Like a restaurant. The IRS (or the relevant tax authority) won't count how many meals you have served, and you can price it as high as you like.

Or you can just do a festival and claim that you had a lot more visitors. It's hard to count people after all, and easy to print fake tickets.

So, I simply think that ASICs are not the things used for money laundering, because their output is very constant, and the hashrate is public knowledge, so easy to verify how much money you made.