Bitcoin money laundering app ‘Dark Wallet’ will anger the Feds

Dark-Wallet

I question the wisdom of creating Dark Wallet, a bitcoin application, specifically designed to launder money. Ask the Black Panthers how deliberately provoking the government worked out. As Saul Alinksy said of the Panthers, it is lunacy to say all power grows out of the barrel of a gun when the other side has all the guns. Dark Wallet is essentially saying ‘off the pigs’ in a financial way. Such provocations will not go unanswered.

Cody Wilson, of 3D printed gun fame, anarchist Amir Taaki, and others will launch Dark Wallet soon. They say it’ll make money laundering easy and avoids security problems in bitcoin itself. However bitcoin thought it was invulnerable too, and turned out to be anything but.

Two things. You can expect that governments will come down on this very hard. And, with the ongoing demise of high frequency trading, plenty of highly skilled, deep pocket programmers are looking the next financial network to exploit. My guess is they will almost certainly attack Dark Wallet.

The financial system already has way too much corruption. It doesn’t need more money laundering. Those involved in the project are committed libertarians and no doubt think they are performing a genuine and valuable service. However a money laundering application will inevitably attract seriously nasty people, and that will poison the whole project – if governments don’t hammer them first.