76% of dark market using Bitcoin | Bitcointalksearch.org

dannyDelRao

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Quote from: jostorres on September 02, 2019, 05:33:11 AM

Quote from: zviadits on August 31, 2019, 12:04:17 AM

Unfortunately, Bitcoin has become indispensable for the black business. Using Bitcoin, criminals protect themselves but, I think that in any case, the Dark Web will live whether Bitcoin exists or not, so you need to take it for granted

That is right bro, Dark web has been in existence far before bitcoin was created and it’s been a thriving business for the criminal, so for the fact that they use bitcoin for illegal activities does not mean that is the only source of their money. Even if they stop bitcoin today, that would not stop it, so rather than the securities giving excuses not to apprehend their culprits, they need to work more.

After all the man that developed bitcoin system is not a special being, he is also human being like us, and nobody can tell me that he is the only human genius that we have, if he has created bitcoin system, they should also create a system that will block the activities of these dark web criminals, I believe it is something that a guru can come up with to always trace them.

I think that Bitcoin is so linked to darknet now that a Bitcoin with zero value will not come till another protected and anonymous currency appears. Bitcoin will be big for sure, illegal activities are also present in FIAT but everyone live with FIAT so the percent of illegal use is less.

jostorres

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Quote from: zviadits on August 31, 2019, 12:04:17 AM

Unfortunately, Bitcoin has become indispensable for the black business. Using Bitcoin, criminals protect themselves but, I think that in any case, the Dark Web will live whether Bitcoin exists or not, so you need to take it for granted

That is right bro, Dark web has been in existence far before bitcoin was created and it’s been a thriving business for the criminal, so for the fact that they use bitcoin for illegal activities does not mean that is the only source of their money. Even if they stop bitcoin today, that would not stop it, so rather than the securities giving excuses not to apprehend their culprits, they need to work more.

After all the man that developed bitcoin system is not a special being, he is also human being like us, and nobody can tell me that he is the only human genius that we have, if he has created bitcoin system, they should also create a system that will block the activities of these dark web criminals, I believe it is something that a guru can come up with to always trace them.

ttcsalam

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Quote from: jdarren on August 14, 2019, 04:32:51 PM

CipherTrace just published their Q2 Cryptocurrency AML Report and found it interesting that Bitcoin still reigns king in dark markets and cybercrime. Most people associate privacy coins even just 4% involve Monero.

Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.

https://ciphertrace.com/q2-2019-cryptocurrency-anti-money-laundering-report/

One thing can have both good and bad aspects. But it does not make an impact. Smugglers may be using technology. But the government of a country can control them if they want.

pakhitheboss

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Bitcoin is popular because even the dark market knows that it will have the highest fiat value than any other crypto in the near future. That gives me another reason to HODL my Bitcoin.

Interestingly Privacy coin only involves 4% of the total transaction. I guess they also do not believe in any other currency than Bitcoin.

pawanjain

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I know I've actually seen some guys on YouTube buying parcels from the Dark Web using Cryptocurrency such as Bitcoin, no telling if it's actually real but still tells me that BTC is very popular on those sites.

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Even though BTC is used on those sites it still is very popular as well as valuable. I don't think the fact that people use it for illegal activities makes it less valuable does it?

Multiposting is not encouraged on this forum. You could have simply posted both of your posts in a single post.

Bapzi

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BTC most popular in dark web . If anyone want to buy something u most be pay in BTC

lepbagong

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Quote from: sehoon on August 29, 2019, 06:37:51 PM

I think if the government act on this problem, they can lessen that 76%. They don't have to focus on the modes of payment of the illegal things but instead, they must intercept the people and the products outside the dark web. I'm pretty sure they can't use internet if they are behind the bars.

Of course there are difficulties from the government to be able to control overall if the government itself does not facilitate and can accept bitcoin. then there will be more people who want to go beyond the rules made. there must be a role for the government so as not to multiply.

Free1bitco.in

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I think this is a common thing. even people are always exaggerating it. in the real world, fiat is also used as a tool for transactions, even for illegal transactions. however, you can still track the use of bitcoin even though it is used for the dark web.

besides, it is natural that people use bitcoin as a transaction tool, because it results in transactions that are very fast, and cannot be manipulated. if 76% uses bitcoin, the rest can use other currencies.

Well, as long as it's valuable and valuable, there will be opportunities for people to use it as a transaction tool even on the dark web.

Janation

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Quote from: zviadits on August 31, 2019, 12:04:17 AM

Unfortunately, Bitcoin has become indispensable for the black business. Using Bitcoin, criminals protect themselves but, I think that in any case, the Dark Web will live whether Bitcoin exists or not, so you need to take it for granted

Bitcoin is not that anonymous though, it is pseudo-anonymous.

Despite the fact that it is one, it can still be tracked. People can still find ways to track its users as long as you know what you are doing. As a proof of that, there are some people that is caught transacting Bitcoin in the Dark Web. They have their ways to hide their identity but they can still be tracked.

Tylev

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Quote from: jdarren on August 14, 2019, 04:32:51 PM

CipherTrace just published their Q2 Cryptocurrency AML Report and found it interesting that Bitcoin still reigns king in dark markets and cybercrime. Most people associate privacy coins even just 4% involve Monero.

Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.

https://ciphertrace.com/q2-2019-cryptocurrency-anti-money-laundering-report/

I do not think that these statistics are real. In the USA and the European Union, studies have already been conducted on this subject and it has been established that up to ten percent of bitcoin was used for illegal purposes. The reason for this is only the relative anonymity of bitcoin. But coins with a high degree of anonymity - Monero, Zcash, Dash were used much more often. Therefore, the Japanese government has long banned the use of these coins.

zviadits

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Unfortunately, Bitcoin has become indispensable for the black business. Using Bitcoin, criminals protect themselves but, I think that in any case, the Dark Web will live whether Bitcoin exists or not, so you need to take it for granted

bitcon

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Quote from: undergroundartpal on August 27, 2019, 07:56:34 PM

I've always thought more people who dealt with dark markets didn't adopt Monero because they wanted to be able to cash out as quickly as possible.

If absolute privacy is important, it seems like a fair tradeoff to me.

Using Bitcoin becomes almost a traditional form of all financial operations, and certainly, the dark market uses it to stay anonymous. Those countries, which ban BTC to stop illegal operations, do not get the needed results. On the contrary, criminals and hackers become too inventive.

Besides, the dollar is still the #1 currency for all operations, including the activity of dark market representatives.

LogitechMouse

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Quote from: jdarren on August 14, 2019, 04:32:51 PM

CipherTrace just published their Q2 Cryptocurrency AML Report and found it interesting that Bitcoin still reigns king in dark markets and cybercrime. Most people associate privacy coins even just 4% involve Monero.

Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.

https://ciphertrace.com/q2-2019-cryptocurrency-anti-money-laundering-report/

I'm not surprised that crypto has been used in dark market but to use Bitcoin instead of some privacy coins like Monero, maybe most of them only knows Bitcoin and not those privacy coins that is why they are only using Bitcoin.

Not surprising because anything that has value can be use in good or bad things. This will increase in the next years for sure.

fiulpro

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At the same.time you should understand that now wallets are strictly giving orders to get your KYC done and due to that that number is gonna fall drastically.
Yes 76% of the dark market may use it .. but if we use the right brains we could actually track them down using bitcoins only ... Let's be honest ...it's not private... It only hides your identity 50% , if someone is intelligent enough he could actually reverse track everything and it could actually bring the market down ... .
There is no way that I see if people deal in cash ... No way unless every single note and coin is equipped with tracker.

LUCKMCFLY

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Quote from: jdarren on August 14, 2019, 04:32:51 PM

CipherTrace just published their Q2 Cryptocurrency AML Report and found it interesting that Bitcoin still reigns king in dark markets and cybercrime. Most people associate privacy coins even just 4% involve Monero.

Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.

https://ciphertrace.com/q2-2019-cryptocurrency-anti-money-laundering-report/

It should be noted that the fact that they are operating there does not mean that everything is for crimes or bad things, the site is very diverse, one of the reasons why Bitcoin sometimes rises in December is because the demand increases in the DeepWeb , and it is because they make many purchases, but currently this increase may be given to ensure anonymity and privacy.

Monero is a currency that is impossible to track and in the DeepWeb or dark market there will always be quick solutions to the complications offered by some traditional markets while maintaining privacy.

alexcopper

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Quote from: mitchr4 on August 29, 2019, 10:53:23 PM

Quote from: sehoon on August 29, 2019, 06:37:51 PM

I think if the government act on this problem, they can lessen that 76%. They don't have to focus on the modes of payment of the illegal things but instead, they must intercept the people and the products outside the dark web. I'm pretty sure they can't use internet if they are behind the bars.

The owner of the dark web site is anonymous, we don't know who is behind it. It's the same when we trade Bitcoin with other people we don't know who he really is. I think the government will be difficult to find them.
There are many types of the dark web such as buying and selling drugs, other illegal products, and criminal services. It is impossible for the owner of the dark web to give out their identity easily because they will deal with the law.

Could blockchain forensic companies like Ciphertrace be able to track this info with their tech?

mitchr4

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Quote from: sehoon on August 29, 2019, 06:37:51 PM

I think if the government act on this problem, they can lessen that 76%. They don't have to focus on the modes of payment of the illegal things but instead, they must intercept the people and the products outside the dark web. I'm pretty sure they can't use internet if they are behind the bars.

The owner of the dark web site is anonymous, we don't know who is behind it. It's the same when we trade Bitcoin with other people we don't know who he really is. I think the government will be difficult to find them.
There are many types of the dark web such as buying and selling drugs, other illegal products, and criminal services. It is impossible for the owner of the dark web to give out their identity easily because they will deal with the law.

ene1980

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Quote from: SquallLeonhart on August 29, 2019, 12:42:08 PM

Monero is also a good privacy coin, and they are taking advantage of the privacy of it to operate in the dark world but that was not the main intention of monero, so we cannot leave monero also to be lost in the darknet and get its name tarnished, all I see for in this cryptocurrency market is regulation and that would put an end to those challenges.

People in the dark market also wants privacy and if they are using Monero what is wrong in that Tongue

, not every market is about drugs and weapons sale and all sort of things, but majority are made to sell those and if they select Monero as their main currency, no one can stop that, the regulators will force exchanges to stop all these privacy coins not because it will be used in dark markets but the authorities does not like privacy in general.

Oceat

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I know I've actually seen some guys on YouTube buying parcels from the Dark Web using Cryptocurrency such as Bitcoin, no telling if it's actually real but still tells me that BTC is very popular on those sites.

If you ever wonder how it is being popular on the black market you might wanna know the silkroad story. Bitcoin has been used already in the black market as a way of transaction since no one could ever trace the owner of the said funds. Unlike banks where you have to put your complete details so that the authorities can trace you back if there is something wrong.

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Quote from: Questat on August 29, 2019, 06:18:45 PM

Yes, there is a transaction record in the blockchain but can we know whos that guy doing such transaction? Of course not and we can't halt such transactions.

One way or another, coins will eventually be sold on the market for fiat. In most cases it doesn't pay off for authorities to chase down those who had these coins in their possession before the person who sold them, but when the crime is severe enough, or there is a whole network they can shut down at once, they will definitely go for it.

The fact of the matter is that the authorities are more adapted to the workings of crypto and how to analyze value movements than most of the people here.

And of course, no one can halt transactions, which is why Bitcoin is such a powerful tool, but authorities don't need the ability to halt transactions when they with a high degree of certainty eventually find out who you are anyway.

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