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Re:US Law Enforcement Traces Bitcoin Transfers to Nab ‘Large... by CydeWeys on Wednesday October 16, 2019 @04:49PM (#21275446)
You can sell Bitcoin in person for cash.
Re:US Law Enforcement Traces Bitcoin Transfers to Nab ‘Large... by johnpowell on Wednesday October 16, 2019 @05:12PM (#21275763)
Then the feds find the guy you sold to when they try to sell them on Coinbase. And that person knows your e-mail, number, what you look like. You had to get the coins to them somehow.

Actually, that is kinda scary. The bitcoin I just got for selling a shirt could be one transaction away from child pornography. And it is all in a pubic database.

Re:US Law Enforcement Traces Bitcoin Transfers to Nab ‘Large... by klipt on Wednesday October 16, 2019 @05:51PM (#21276298)
I'm assuming someone looking to launder a large quantity of BTC wouldn't spend it all on individually purchased shirts. But who knows.
Re:US Law Enforcement Traces Bitcoin Transfers to Nab ‘Large... by notyourday on Wednesday October 16, 2019 @05:00PM (#21275610)
And now that person knows exactly who you are.
Re:US Law Enforcement Traces Bitcoin Transfers to Nab ‘Large... by kjeetgill on Wednesday October 16, 2019 @04:53PM (#21275513)
Is there a big enough cash market for it to be worth "criminal enterprise" level money?
Re:US Law Enforcement Traces Bitcoin Transfers to Nab ‘Large... by Karunamon on Wednesday October 16, 2019 @05:00PM (#21275611)
I'm not sure what you're defining as "big enough" here, but localbitcoins.com shows verified, well-reviewed people in my smallish city that would be willing to do up to $30KUSD in one transaction.
Re:US Law Enforcement Traces Bitcoin Transfers to Nab ‘Large... by w1nst0nsm1th on Wednesday October 16, 2019 @04:57PM (#21275584)
If they don’t require an ID card from their cash receiver.
Re:US Law Enforcement Traces Bitcoin Transfers to Nab ‘Large... by CydeWeys on Friday October 18, 2019 @02:16PM (#21293747)
The kind of people you're transacting Bitcoin for cash with definitely don't want to check ID, just the opposite. They likely don't want you to know who they are either.