900,000 illegal bitcoins. - page 5. | Bitcointalksearch.org

pixie85

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Quote from: gentlemand on July 28, 2020, 01:42:30 PM

If you have any Bitcoin then the chances are extremely high you have some that was either stolen from someone or earned selling 'shit'. Silk Road and similar will have had hundreds of thousands of coins passing through and they don't disappear like magic, they keep on circulating.

As long as you don't end with a toxic brand on your forehead it is what it is.

There were many similar markets like that second silk road and sheep marketplace that was hacked and many many more that exist to this day.

I could argue that more than 50% of all coins in existence were once used for something illegal even if this illegal thing was tax evasion. I really don't care just as I don't wash my cash when I get it Cheesy

Some of the cash you use every day was probably used to buy drugs or prostitutes. Does it change anything?

rexxarofmoknathal

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Quote from: Ucy on July 28, 2020, 12:36:22 PM

I wonder what the site defines as illicit/illegal activities. What laws(in relation to countries transaction origins?) are they based on? And how did they really determine this?

I think the questions above are important to consider as there's no clear transparency about how these BTCs have been categorised a illegal crypto. I have no doubt that a large amount of crypto came into circulation from illegal activities but this is not the point. The specifics we need to focus on is the flexibility crypto provides for each and everyone of us, and the independency from third parties.

For instance, right now because of the pandemic citizens from certain countries cannot longer access their own cash from their own banks because the government doesn't allow them to. So we should be grateful that we now have crypto where this level of restriction isn't possible.

gentlemand

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If you have any Bitcoin then the chances are extremely high you have some that was either stolen from someone or earned selling 'shit'. Silk Road and similar will have had hundreds of thousands of coins passing through and they don't disappear like magic, they keep on circulating.

As long as you don't end with a toxic brand on your forehead it is what it is.

thesmallgod

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Some of them already hit the market these are some of them https://twitter.com/whale_alert/status/1287807444006117376?s=20
https://twitter.com/whale_alert/status/1287807441275629568?s=20 I'm very sure many must have been mixed are sold in exchange as well. Stolen coin are becoming rampant daily and people are making use of bitcoin as escape route for this illicit scam

pakhitheboss

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Does this amount even matter in this world? where Fiat currency is used for all illegal activities. It does not bother me neither it should bother anyone here as it is a very small amount compared to what is stored in Swiss Banks.

7788bitcoin

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Quote from: NotFuzzyWarm on July 28, 2020, 12:40:46 PM

~
There is no doubt many more 10's of billions of dollars in fiat associated with illegal activities.
Fun Fact: At least in the West, check any large random sample of paper currency and there will be traces of cocaine on much of it. Does anyone worry about that? No.

There is no doubt that trillions of dollars and fiat currency will be used for illegal activities but there is no evidence trail for fiat transaction but that is not the case with bitcoin, it is an evidence trail and every transaction every made is available for anyone to track and if you are holding coins that are marked as illegal then you might get into trouble in the future, right now no one cares about the coins we are receiving but that might not be the case in the future.

NotFuzzyWarm

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Quote from: bitcoinst on July 28, 2020, 11:51:14 AM

At least 870,000 bitcoins are associated with illegal activities. This is about $ 10 billion.
....
One day, all these bitcoins will somehow hit the market. Undecided

So what?
There is no doubt many more 10's of billions of dollars in fiat associated with illegal activities.
Fun Fact: At least in the West, check any large random sample of paper currency and there will be traces of cocaine on much of it. Does anyone worry about that? No.

Ucy

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Compare rates on different exchanges & swap.

I wonder what the site defines as illicit/illegal activities. What laws(in relation to countries transaction origins?) are they based on? And how did they really determine this? Did they factor in the deflationary nature of Bitcoin? 1 BTC in 2010 would be worth alot more today... When did this research take place, by the way?
Can thesame method be used to determine how much of physical/digital fiat currencies and precious metals are used for illegal activities... maybe from 2015 till now? Just want to know if the research is reliable and can be repeated with good results. Also to compare the illicit transactions to other currencies and determine how bad things are.

AB de Royse777

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Quote from: bitcoinst on July 28, 2020, 11:51:14 AM

One day, all these bitcoins will somehow hit the market. Undecided

It's very possible that our coins are already mixed with illegal coins those were marked on the addresses. You never know.

Does this worry you much?
It doesn't for me.

When we deal with cash, we do not know the source of that cash whether it came from an illegal or legal source one hand before me. I think the Bitcoin hatters are very active to plant the seeds in our head some day we will be in trouble. There will be time when we will not have these centralized exchanges with centralized fiat, there will be a time when we will not have any centralized financial system. Wait for those days.

PS: I am not encouraging those illegal Bitcoin traders by any means. I just think that nothing can stop Bitcoin.

bitcoinst

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At least 870,000 bitcoins are associated with illegal activities. This is about $ 10 billion.

Darknet marketplaces - 585,000 BTC.
Stolen bitcoins - 204,000 BTC.
Scam project organizers - 98,000 BTC.
Other illegal activities 3,000 BTC.

https://markets.chainalysis.com/#risk-illicit-placement

One day, all these bitcoins will somehow hit the market. Undecided

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