We are in the wide market adoption and it was sad that crypto is used to spread and continue illegal activities which ruin the reputation of Bitcoin.
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you are right there but many people use bitcoin or crypto currency for the right purpose. but we cannot prevent the use of bitcoin illegally, because it is difficult to identify the identity of its creator, especially for people with malicious intent because bitcoin is anonymous currency that's one of the reason want government regulate the bitcoin because the want to avoid use it into crime by using kyc.
Topic: 76% of dark market using Bitcoin - page 2. (Read 782 times)
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.
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i dont think we need to trust those figures as we dont know the authenticity of their source. another black propaganda for bitcoin? who knows? but in any case, they cant bring down the popularity of bitcoin or the usage of it.
we already passed so many struggles of adoption yet crypto or btc users are growing everyday...
We are in the wide market adoption and it was sad that crypto is used to spread and continue illegal activities which ruin the reputation of Bitcoin.
If it is so private, then how come they can still tell how much percentage it is.
From holders and also the circulating bitcoin outside this forum? That is a large quantity if you will keep on monitoring it all.
It wont be that easy.
They are just guessing it all. There is no way to trace it. There is no information about some holders and some left their wallet and other in their computer.
It cannot be accurate.
From holders and also the circulating bitcoin outside this forum? That is a large quantity if you will keep on monitoring it all.
It wont be that easy.
They are just guessing it all. There is no way to trace it. There is no information about some holders and some left their wallet and other in their computer.
It cannot be accurate.
So, how and where do they actually conduct this research to get this figures?
I feel this article is another way to paint Bitcoin black indirectly.
Truth is, those in the dark web have always preferred Monero to Bitcoin. Reason? It's because they believe that Bitcoin is traceable unlike Bitcoin. Monero has nor privacy than Bitcoin an it's difficult for an outside observer to trace the source.
Those criminals are very smart. Why would they want to risk it?
I feel this article is another way to paint Bitcoin black indirectly.
Truth is, those in the dark web have always preferred Monero to Bitcoin. Reason? It's because they believe that Bitcoin is traceable unlike Bitcoin. Monero has nor privacy than Bitcoin an it's difficult for an outside observer to trace the source.
Those criminals are very smart. Why would they want to risk it?
i dont think we need to trust those figures as we dont know the authenticity of their source. another black propaganda for bitcoin? who knows? but in any case, they cant bring down the popularity of bitcoin or the usage of it.
we already passed so many struggles of adoption yet crypto or btc users are growing everyday...
So, how and where do they actually conduct this research to get this figures?
I feel this article is another way to paint Bitcoin black indirectly.
Truth is, those in the dark web have always preferred Monero to Bitcoin. Reason? It's because they believe that Bitcoin is traceable unlike Bitcoin. Monero has nor privacy than Bitcoin an it's difficult for an outside observer to trace the source.
Those criminals are very smart. Why would they want to risk it?
I feel this article is another way to paint Bitcoin black indirectly.
Truth is, those in the dark web have always preferred Monero to Bitcoin. Reason? It's because they believe that Bitcoin is traceable unlike Bitcoin. Monero has nor privacy than Bitcoin an it's difficult for an outside observer to trace the source.
Those criminals are very smart. Why would they want to risk it?
FIAT currency (CASH) was/is and will remain the king regarding illegal transactions. The fact that many bitcoins are being used on illegal transactions, has nothing to do with bitcoin itself. Bitcoin is something revolutionary and it will depend on how people will use it.
I think it's because bitcoin is more popular and well known, and also those people had bitcoin only instead of other coin. And i don't find it weird, because people will choose a currency with perfect anonymity and trust worthy to trade in dark market. Maybe they're not really sure and trust other coins as much as they trust bitcoin. But this kinda makes me sad because people will surely think negatively about bitcoin again if they found out bitcoin is used often in black market.
Bitcoin sure is well known and most widely used cryptocurrency but it's not that hard to exchange it to any other coin. If people want then they can exchange it to other coins as easy as buying a chocolate.Apart from that bitcoin does not have the perfect anonymity as it is not fully anonymous. There are better coins than bitcoin which can provide better anonymity than bitcoin. Eg. Monero.
That might true .the solution is simple, people who using dark market, they better use monero 
so bitcoin cant blame by illegal activities.
The dark market has existed before bitcoin and has been booming well without government been able to completely lay it down because there are so many technology they were also using to operate before bitcoin, so I don’t think bitcoin contributed to major part of it although it has its own little contribution which the contribution should have even been eliminated long time ago if government had agreed to regulate the bitcoin. so bitcoin cant blame by illegal activities.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.
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/
This is hardly true,but nevertheless, if we agree with the fact that 98% of all transactions in the bitcoin network are criminal-then why the hell is the Bitmain mining equipment plant still operating? 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/
Read the post again. He is saying that out of the transactions related to ransomware/malware (not all the transactions), Bitcoin is being used 98% of the time. According to various studies, 1% to 2% of all the Bitcoin transactions can be classified as illegal. This 98% share from ransomware is included in that figure. Vast majority of Bitcoin transactions are perfectly legal.
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/
This is hardly true,but nevertheless, if we agree with the fact that 98% of all transactions in the bitcoin network are criminal-then why the hell is the Bitmain mining equipment plant still operating? 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/
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.
I see this as a vague report and i am not sure how they got these estimates which is being written in that article, there is no specification about how many sites they conducted their survey in the dark markets to come to a conclusion that bitcoin is still reigning in dealing illegal substances including drugs. If there is a detailed report on the amount of case reported or the study they made then we can make a conclusion other than that it is just a fake report Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.
.That's an interesting thought. I don't see how a reputable company would put out a 'fake report'. I feel like Ciphertrace isn't legally allowed to disclose the names of the markets and the sources because ultimately they are trying to find a balance between privacy and protecting people.
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.
I see this as a vague report and i am not sure how they got these estimates which is being written in that article, there is no specification about how many sites they conducted their survey in the dark markets to come to a conclusion that bitcoin is still reigning in dealing illegal substances including drugs. If there is a detailed report on the amount of case reported or the study they made then we can make a conclusion other than that it is just a fake report Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.
.
I'm starting to this this is a statistic overtime rather than the current state.
The rise in Monero prices was approved by the adoption of digital currencies on several dark markets. The black market became a large part of the culture that still adheres to the wider community after the Silk Road case, which relies on Bitcoin so that customers can buy digital currencies. followed by Ethereum which can be used in only about 7% and Monero 4% of crypto use cases involved on the dark market.
Monero offers additional anonymity, but it lacks the liquidity that Bitcoin possesses. It is not very easy to convert Bitcoins to Monero in an anonymous manner. Cashing out Monero is even more difficult, if you don't want to reveal your real identity. ETH is more liquid, but if anonymity is considered it ranks much lower than BTC and XMR.
I find it strange XMR isn't more widely used. Even if liquidity isn't all that you'd think the baked in anonymity would be very attractive. Perhaps not enough users believe it truly is as anon as it claims.
Or perhaps there is less demand for shady activity currencies than people think. Most people aren't drug dealers or scammers so using Bitcoin in combination with a mixer is more than enough privacy for them.Most of the demand comes from people wanting to get rid of their exchange taint, which is what mixers allow you to do perfectly fine. People always assume there is so much dark web demand while that isn't true at all.
XMR and some other privacy coins have seen some uptick in use, but the prices have been quite volatile lately so it might have been the speculative side of crypto that drove the use up slightly.
Bitcoin is a universal payment method that can easily be used by all persons in the world. People always want to use the easy means to get what they want and the transaction fees that is associated with bitcoin payment is relatively cheaper compared to other payments methods we have around such as PayPal.
I think it's because bitcoin is more popular and well known, and also those people had bitcoin only instead of other coin. And i don't find it weird, because people will choose a currency with perfect anonymity and trust worthy to trade in dark market. Maybe they're not really sure and trust other coins as much as they trust bitcoin. But this kinda makes me sad because people will surely think negatively about bitcoin again if they found out bitcoin is used often in black market.
If it is indeed an analysis that the use of bitcoin is very large on the black market, it is also very frightening because it could be that countries that feel unable to control will tighten up by not being allowed to be used as a transaction tool. but I believe that blaming is only 1 to 2%. so it's just relatively not large.
I think they use bitcoin because of its ease of acceptance and its price and market dominance showing bitcoin as the most trusted of any coin. Monero at 4% is very low despite been a privacy coin.
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