Topic: 76% of dark market using Bitcoin - page 4. (Read 782 times)
I am not very surprised. First of all, it is not that easy to get Monero (XMR). You need to purchase XMR from the exchanges and nowadays almost all of them have KYC as a mandatory requirement. And they are keeping a close watch on anyone who withdraws XMR from these exchanges. For many of the users, opting for a Bitcoin mixer is a more anonymous route.
The number " 76% " is interesting , I agree.
But I did not found what was the absolute value of the dark web turnover in the article.
I suppose that BTC is still the king because monero is harder to implement and maybe because it is harder for those who are buying stuff there to buy it - Monero is not sold in regulated exchanges , at least what i have noticed
But I did not found what was the absolute value of the dark web turnover in the article.
I suppose that BTC is still the king because monero is harder to implement and maybe because it is harder for those who are buying stuff there to buy it - Monero is not sold in regulated exchanges , at least what i have noticed
What ever reason or techniques used to discover that is not a major issue but when fiat was also the only means of transaction or exchange in the market , we still have lots of crime out there too and none never discovered to the let of making it look like USD was the major way many countries used to launder money as easy way , so nothing new to me regard this.
It seems they dont need to use monero or another stealth coins to stay in shadow.its not surprise because more than %80 of crimes using usd 
so its not a big deal for illegal actvities if you have power
so its not a big deal for illegal actvities if you have power 
Strange to see Monero and other privacy coins being so unpopular in darknet markets, is Bitcoin mixing good enough these days, or are privacy coins suffering from some problems? Maybe it's hard to convert them to BTC or fiat without raising suspicion?
There are currently some researches floating around that put Bitcoin illegal use at 1-2%, but the fact that Bitcoin is so popular sure means that something is wrong with those researches.
There are currently some researches floating around that put Bitcoin illegal use at 1-2%, but the fact that Bitcoin is so popular sure means that something is wrong with those researches.
I thought so too. I thought Monero is taking over the dark market because of its anonymous features. Maybe it's most likely trust issues. They trust Bitcoin more than Monero because Bitcoin has been around the most and that it's easier to convert into fiat than all of altcoins without the need of exchange. Not to mention that mixer exist.
I know bitcoin has a higher trust here, but this is quite worrying for me because a few times ago I heard the news that bitcoin hackers were mixing bitcoin on chipmixers. And here I also know that this is not entirely the fault of bitcoin, but it is the fault of those who abuse it.
Especially now that there is news from CipherTrace that makes the state of bitcoin cornered, even though they are just a blockchain analysis company, but they have a considerable influence in crypto. I'm just worried that the news will be acted upon by the government, I don't expect bad things to happen to bitcoin.
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consider the source and you should get your answer.
it is yet another blockchain analysis company trying to advertise their services and convince the world that they need their services so that they could sell it to them!
otherwise usage of bitcoin in dark markets was in that percentage back in 2011 and has been dropping ever since. nowadays i would be surprised if it were any negligible percentage.
it seems like every time another one of these blockchain tracing sites pop up, the first thing they do is publish a ton of nonsense about how bitcoin is being used for illegal stuff.
just the other day another one of these "mushroom-like" businesses released their guesswork about Binance hacked coins and Chipmixer's services used for mixing those coins!
Oh, I'm so happy seeing that more and more people are starting to call out these bs analysts.
If CNN writes something is fake news, if it's a blockchain company...it must be true
Really getting tired of all the experts that know for certain to the last satoshi who bought what when.
In 4 f years, they haven't been able to trace 200k coins from Mt Gox but they know that Michele is buying meth worth 1.5 bucks from Rogers over the deep dark long black market.
A lot of people stop using the actual market system once they make a lot of sales with trusted vendors, a lot of those transactions happen without escrows, really p2p, just as people here in the collectible area deal with old-timers.
But yeah, cipher trace can track everything!
Where is the confirmation of this information? It seems to me that most of the dark market still uses USD
the link is already posted on the op , you can check that out and find your self if its trully a fact or only false info and why do you say that usd is the most use on the dark market ? that will be a hassel and you can possibly be traced if you use usd . ever since darknet/depweeb becomes popular , this were also the time that bitcoin shows up . that only means that bitcoin is the number one medium that is being used thier .
Dark market is much related to Bitcoin as it was the source that once got its usage in large scale. Some even have a thinking that it is the one that is developed for illegal and dark market needs. Now it has got a big transformation from the early days to a valuable investment surpassing more common investments.
Ehh, I think they still use Bitcoin just because it might be easier to implement than, say, Monero.
Could purely be because of laziness or perhaps because the end-users still prefer to use Bitcoin over privacy-centric coins.
Still, I'm kinda surprised the percentage is still this high. I would have expected more progress to have been made.
I doubt those data are accurate, other research shows Bitcoin have lower "dominance" on darknet. Privacy-focused cryptocurrency and altcoin such as LTC gain popularity.
See https://go.recordedfuture.com/hubfs/reports/cta-2018-0208.pdf
But they always could exchange it with Bitcoin (and use mixer if needed) before convert BTC to USD to circumstance the problem.
See https://go.recordedfuture.com/hubfs/reports/cta-2018-0208.pdf
I don't think privacy coins are suffering from problems, but it's more so that not many are willing to accept them with how it becomes more difficult to convert them back to actual dollars.
But they always could exchange it with Bitcoin (and use mixer if needed) before convert BTC to USD to circumstance the problem.
The dark market is going bigger and bigger, and it is sure they'll adopt crypto as it helps to hide themselves keeping away from the public. This is how fraud and money laundering at works. They'll know the features of bitcoin already and they take advantage of it.
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 number is no real shocker to me honestly 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/
Its the same people doing 'gray area' transactions who are the same ones that are into BITCOIN
They go together hand and hand and its a way to do what you need to do without leaving paper trails
I don't surprise to see the percentage of the dark market using bitcoin because bitcoin can hide the identity of the sender and they can use many wallets to make a transaction. But people can use any other coins in the dark market because the other coin has the same thing as bitcoin. But I don't know if that percentage is true or not because we don't know how they can determine the percentage so far. Besides that, we have the other coins which support privacy like monero, zec, and else.
I think that many people use BTC for payments in the Darkweb just because it is well established in the crypto market.
Since it is at the top, most of the people would be holding BTC hence making it easy for people to make transactions in BTC.
Also, the recent news said that the binance hackers have use Chipmixer to mix over 4800 BTC which means mixing sites are doing well at their jobs.
So bitcoin would be a better option for many than the other coins.
Since it is at the top, most of the people would be holding BTC hence making it easy for people to make transactions in BTC.
Also, the recent news said that the binance hackers have use Chipmixer to mix over 4800 BTC which means mixing sites are doing well at their jobs.
So bitcoin would be a better option for many than the other coins.
Strange to see Monero and other privacy coins being so unpopular in darknet markets, is Bitcoin mixing good enough these days, or are privacy coins suffering from some problems? Maybe it's hard to convert them to BTC or fiat without raising suspicion?
consider the source and you should get your answer.
it is yet another blockchain analysis company trying to advertise their services and convince the world that they need their services so that they could sell it to them!
otherwise usage of bitcoin in dark markets was in that percentage back in 2011 and has been dropping ever since. nowadays i would be surprised if it were any negligible percentage.
And you can't just track all of dark market as most of the transaction occurs personally and the markets and trades are itself untracable. It seems like a logical guess and similar could be the actual results. Surely bitcoin would be the major coin for transactions in deep web markets other payment options too are popular there.
it seems like every time another one of these blockchain tracing sites pop up, the first thing they do is publish a ton of nonsense about how bitcoin is being used for illegal stuff.
just the other day another one of these "mushroom-like" businesses released their guesswork about Binance hacked coins and Chipmixer's services used for mixing those coins!
Strange to see Monero and other privacy coins being so unpopular in darknet markets, is Bitcoin mixing good enough these days, or are privacy coins suffering from some problems? Maybe it's hard to convert them to BTC or fiat without raising suspicion?
There are currently some researches floating around that put Bitcoin illegal use at 1-2%, but the fact that Bitcoin is so popular sure means that something is wrong with those researches.
There are currently some researches floating around that put Bitcoin illegal use at 1-2%, but the fact that Bitcoin is so popular sure means that something is wrong with those researches.
Altcoins may not have enough liquidity for illegal use in large scale.
Strange to see Monero and other privacy coins being so unpopular in darknet markets, is Bitcoin mixing good enough these days, or are privacy coins suffering from some problems?
That does seem odd that a coin with ostensibly more privacy than bitcoin wouldn't find its niche in the dark markets.
Where are these stats from? I've seen previously that fiat is much more popular then BTC or other cryptocurrencies for money laundering, but I didn't know it would be so popular in the darknet.
Then again, it does make sense. With smaller transactions, it'll be pretty hard to track the ones related to criminal activity and which ones are regular transactions.
They should try using monero and other privacy coins. I believe they are not as hot in the eyes of the scrutinizing public as compared to bitcoin. Most people wanted to trace where bitcoin goes while other altcoins are just being ignored. Why not try those other privacy coins?
The technology behind the privacy coins is definitely there. Monero, Grin, and other privacy coins are very safe and hard to track - but the problem here is adoption. BTC is still king when it comes to cryptocurrencies and people don't like change, even if it is for the better sometimes.
Then again, it does make sense. With smaller transactions, it'll be pretty hard to track the ones related to criminal activity and which ones are regular transactions.
Strange to see Monero and other privacy coins being so unpopular in darknet markets, is Bitcoin mixing good enough these days, or are privacy coins suffering from some problems? Maybe it's hard to convert them to BTC or fiat without raising suspicion?
There are currently some researches floating around that put Bitcoin illegal use at 1-2%, but the fact that Bitcoin is so popular sure means that something is wrong with those researches.
There are currently some researches floating around that put Bitcoin illegal use at 1-2%, but the fact that Bitcoin is so popular sure means that something is wrong with those researches.
They should try using monero and other privacy coins. I believe they are not as hot in the eyes of the scrutinizing public as compared to bitcoin. Most people wanted to trace where bitcoin goes while other altcoins are just being ignored. Why not try those other privacy coins?
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.
Whether ETH or Bitcoin, the fact remains that people will always use whatever means that's simple and functional to get whatever they want out of something. I don't think criminalizing Bitcoin just to give it a bad name with the darknet stuff helps the entire crypto industry. Mind you, if Bitcoin goes down all other coins follow too. We have to make it a point to highlight those articles that advance Bitcoin so as to aid this industry. Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.
Strange to see Monero and other privacy coins being so unpopular in darknet markets, is Bitcoin mixing good enough these days, or are privacy coins suffering from some problems? Maybe it's hard to convert them to BTC or fiat without raising suspicion?
There are currently some researches floating around that put Bitcoin illegal use at 1-2%, but the fact that Bitcoin is so popular sure means that something is wrong with those researches.
There are currently some researches floating around that put Bitcoin illegal use at 1-2%, but the fact that Bitcoin is so popular sure means that something is wrong with those researches.
I thought so too. I thought Monero is taking over the dark market because of its anonymous features. Maybe it's most likely trust issues. They trust Bitcoin more than Monero because Bitcoin has been around the most and that it's easier to convert into fiat than all of altcoins without the need of exchange. Not to mention that mixer exist.
Any coins can be use in dark market, but since bitcoin is the leading coin the focus of people is to bitcoin. This might be another article to ruin bitcoin's reputation though its happening but we can't put everything to bitcoin. AML might be speculating this thing but I know its not accurate, they can't prevent this thing because this is a Decentralized market, cryptocurrency is still consider as a dark market after all.
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