Hypothetically Laundering Bitcoin Money using a Laundromat

Strictly hypothetical...

Image by ZDNET
It is impossible to trace newly minted Bitcoins, but it is easy to trace bitcoin bought on an exchange because the exchange forces people to identify themselves. The government could try to track Bitcoin mining operations by the electric grid but being that we are running a laundromat this will not be an issue for us. If Bitcoins legal status does not change then we still are at risk for tax evasion, because I am not going to give the government a cut of my Bitcoin money. Bitcoin is an anti-government movement, the government and the banks are at war with it so I feel no obligation to cut them in on the profits. In order to mitigate this business risk we will only cash out Bitcoin at ATMs (Most of them require no ID for under $2000 per day), and deposit the money into the business account at the same time as cashing in the coins from the laundromat but a little at a time stretched out over the month, this is why a coin only laundromat is the best business to own. If the government does somehow find out that we are mining we will simply say we are mining independently (Not part of a pool), and it takes years to mine a block, we haven’t mined any yet. Then we will move our mining operation in a different family member’s name, telling the government we sold all the equipment and pay the taxes of the phony sale. There is risks that are not associated with the business/organization. There is a reason they call it laundering money, laundromat is the reason!