Topic: 900,000 illegal bitcoins. - page 4. (Read 971 times)

Those are bad history of bitcoin and that amount will continue to circulate for whatever reason.
That scam or fraud already affects the price of bitcoin and right now we are moving on and continue from reaching many people as much as we can. Most of those illegal bitcoins can't retrieve anymore but some of those was able to track and sue the people behind it. The scam activities will continue to exist at any market so keep this in your mind and always think to become more effective with your bitcoin.

This doesn't matter at all. It is already hitting the market dude and we can be holding now a scammed bitcoin. But then again it's too unnecessary to know where your holding are from, as it is only a currency, a money, and not a thing that has your name or records its past. Are you even sure that the bitcoins you hold right now isn't from any other illegal activities from the past nor had been generated illegally? Or should I say, is there anything illegal in the aspect bitcoin and cryptocurrencies?

hence, whatever those Bitcoins are from. It is just money, nothing more, nothing less.

Is it considered illegal to buy legal stuff on darknet marketplace? What if I buy some book, for example, that is legal in my country and illegal in the US? Would it make bitcoins, which I used to buy a book, illegal in US? From my perspective, these bitcoins were never used in illicit activities, but Chainanysis says that my bitcoins are illegal. I am confused.

What if I want to absolutely consciously donate my money to scammers? It is not illegal to send transactions whoever I want, right?. Is it also considered illegal? Why chainalysis should have an ability to censor and judge my decisions? I didn't vote for them and consider their activities illegal and amoral, they violate my human rights.

Who knows? If those bitcoins used from illegal activities are now circulating and been using by others now. In that case, no matter where it came from it is still bitcoin that is decentralized. Thus, the source is untraceable.

Huge percentage used by dark markets, paying as bitcoin for illegal things and then it recirculate. I know the essence of this thread that OP wanted us to understand is that the increasing numbers of bitcoin is being used in other activities such of these instead of the supposed real purpose why it was created in the first place.

The point is that once this coins hit the market, it will really hit hard enough to plunge Bitcoin again. I don't know if you know this but even 2% of those coin would make a panic selling. Remember the 13,000 Bitcoin Scam? The time where Bitcoin is trading $10,000 but dived to $4,000 because of the scam, that is most likely will happen. That could potentially make another bear run for a long time.

They aren't necessarily held on wallets, right? That's just basically the tally of illegal BTC they found but said BTC has already spread over various wallets of others through mixers and other methods right? Well, not that I care much tbh. It's not like knowing about them changes the fact that they are illegal, and even if they were to be owned by me, it's not like I wouldn't be able to use it in the end. Plus, if they were able to send said coins to exchange and made me able to receive it, it already states that said coins are wiped clean, or even if it wasn't and just managed to slip the surveillance, then it isn't really my fault that it ended up on me. They can freely check transactions history for that after all.

I suppose they are confirmed, one way or another, or else they wouldn't list records of said illegal Bitcoins. That, or just a part of it is true, but it shouldn't deviate from that I suppose (that is, considering this is everything that was confirmed to be illegal). It is a small amount, yes, but they could still influence the market albeit temporarily by dumping a huge number at one time.

This and your latest posts sounds awfully much like an automated posting bot. Care to share something insightful?

Point is?

Most of your paper money in your leather wallet have probably been involved in some illegal activity at one point. The only difference is bitcoin is traceable, physical fiat is not.

If you, or the government, for some reason want to trace your money, you/they should embrace bitcoin.

This is why bitcoin was tag as scam.because of these people using bitcoin as a means for their scam activities. No wonder why government did not approve bitcoin due to the feature that is not compatible to the government system and at the same high risk for the community consumption. Aside from that abuses may going to happen but hoping that one day these abuses will stop and ways will be determine how to do it.

The thing here is that, because bitcoin has accountability some people seem to think that stained bitcoin might stain the chain, but I think your argument is great, in the sense that, just because cash isn't as accountable as btc, doesn't mean we can't make the same argument for it, if we as humans really cared about people misusing our means of exchanging goods, we'd take down 90% of all US dollars because there's cocaine traces in that many bills.

If that doesn't stop the USD, believe me it won't stop bitcoin either, this accountability will instead help bring justice, more so than cash ever did anyway

How about use those bitcoin for good purpose,

There is more in cash transactions but they don't have record, only estimation of how much drugs and other illegal activities were involved during their seized. I agree with them that it's also the same with cash, we don't know the actual source of it.

These are all confirmed? I wonder how this site gathers the data to that they really know that the Bitcoin is used in relation to criminals. This is not a small amount of Bitcoin. but compared to the whole supply of BTC, it may be only several percentages. however, it will also influence the market flows if it hits the market. But, the questions are:
1. Does anybody know where are now those Bitcoins? Only hold in their wallet? on the Bitcoin mixers? Or already traded in the market?
2. If it is still kept on their wallet, will they open it and trade it on the market at the same time? I think no because they are different networking and they may have different stages or ways to spend the BTC.
3. DO they always influence the market if they spend the BTC on the market? I think that they may not have a big influence on the market because they are small compared to the whole supply of the BTC. Moreover, the circulating supply of BTC so far is around 18,445,150 BTC. I think that they will also not trade it at the same market to make a big difference.
Well, this is only my opinion because those criminals are not correlated at all. they have different networking. We also do not know whether they have been trading those amounts or not. So, never be panic about this, but stay calm and also watch out.

I am worried about the fact that these shadow bitcoins can enter the market at the most inopportune moment and in one way or another affect the movement of the bitcoin price.
Of course, this is unlikely, because we do not know the full picture of who exactly owns all these bitcoin, most likely scattered groups of people.
Otherwise, I agree, there is essentially nothing to worry about.

That 900K illegal BTC can't be destroyed though as long as its owned by someone and will send it to someone else, its just right there and will keep circulating and may even get our clean from a centralized exchange one day.  Its the fiat bills are far dangerous, it doesn't have traces of cocaine but also coronavirus. They might wanna sanitize them all first before looking into BTC.

That's their trade and they're unlikely to tell you how they know. They could of course be making it all up. It's not as if some tubby sheriff is going to know better.

But there are plenty of cases of moronic dark market traders sending coins straight to exchanges. And those Twitter hackers posted an address with previous transactions to exchanges. The criminally minded are just as lazy and stupid as the rest of us.

Even the more careful can blow it all with one slip.

True. But, how does Chainalysis know whether the coin is actually dirty or has a travel history from a service similar to the one in your signature?

The numbers could be totally made up, but I'm sure they have ways and means they're not going to tell us, however there's no denying a large amount of coinage has been exchanged for questionable things over the years.

If your coins are not straight from the miner the likelihood is extremely high we all have a little piece of them.

Exactly as you said, in real and physical market, peolle exchanges both stolen and salary paid money together, who cares? So far as it provides liquidity and fast execution, who cares? There's is an African proverb saying, " even if money comes in dirty bags, you must welcome it". This had never been a bother in me, and never mind OP.

Chainalysis seems to have put up some arbitrary figure backed by no proof for cross-verification. Where does one check the addresses, they believe, belong to Darknet marketplaces / Stolen bitcoins / Scam project organizers / Other illegal activities? There is no way to check whether any address ever transacted with their suspect list either. It seems, this report is just a marketing gimmick to attract deep pocket customers.