Topic: ...and THIS is why I prefer to use Bitcoin. (Read 2792 times)
I invest in the project KS monitor very satisfied and brings a good profit.
Wendy's was just hacked and the hackers made off with an unknown number of credit cards. But noooo, Bitcoin is the preferred currency of criminal financial activity, amirite?
Due to anonymity of bitcoin transaction,it can be used for illegal activities but blaming bitcoin for this is like blaming fire if someone got burnt.It is the use that you put something to that is wrong or rightBitcoin isn't actually that anonymous... You can track and trace where bitcoins go and how much, also you can possibly trace and identify who bought those bitcoins, and even scarier, could possibly get your CC info and personal info if you bought it from an exchange site like coinbase and coinbase ended up getting hacked.
Bitcoin is primarily pseudonymous, but it's a hell of a lot better than using debit cards/credit cards.
With the experience that I have gained I feel that the improvement in domestic payment methods and the rapid development of alternative (non-cryptocurrency) forms of international transfers has reduced bitcoin’s advantage in this area, especially given its increasing fees and frequent network bottlenecks. Again, In some parts of the world, bitcoin is still a more efficient and cheaper way to transfer money across borders, and several remittance startups make use of this feature. Bitcoin’s cost and speed advantages, though, are being eroded as traditional channels improve (and the network’s fees continue to increase), and liquidity remains a problem in many countries. Also, a number of large and small retailers accept the cryptocurrency as a form of payment, although reports suggest that demand for this function is not high. And many individuals feel more comfortable holding a part of their wealth in securely-stored bitcoin, where a central authority cannot block access or take a cut.
Recently bitcoin seems to have assumed the role of investment asset, as traders, institutional investors and small savers have woken up to the potential gains from price appreciation.
Recently bitcoin seems to have assumed the role of investment asset, as traders, institutional investors and small savers have woken up to the potential gains from price appreciation.
CreditCards are too very vulnerable electronically even more than Bitcoin In my opinion, you actually insert the money in the card in every site you use to directly process payment.
~snip~
I don't think it's quite like that. Some miners would stop, then price would go up, and so forth... It's an equilibrated balance between btc price and number of miners. It's not like suddenly everyone would be forced to stop mining.
I don't think it's quite like that. Some miners would stop, then price would go up, and so forth... It's an equilibrated balance between btc price and number of miners. It's not like suddenly everyone would be forced to stop mining.
Yeah, bitcoin is now taking its place as a major currency in the world, and its existence is due its interests of miners in mining bitcoin regardless of their profit or loss due to fluctuating bitcoin prices. Miners maintain bitcoin network's safety and integrity. It's not possible many miners stop at once. This may be a reason I prefer to use bitcoin.
Yeah I agree with you , bitcoin is best financial for criminal activity. 
If you know in deep web many criminal activity using bitcoin like kill someone , sell weapon and drugs.
Yeah because of anonymity of bitcoin transactions, every person who will try to transact money as illegal they will use bitcoin. The criminal will definitely prefer that currency for money laundering, buying weapons and sell any stolen or hacked property. But there are lot good advantages to prefer bitcoin by me too... If you know in deep web many criminal activity using bitcoin like kill someone , sell weapon and drugs.
i prefer to use bitcoin as its really fast and free
Yeah I agree with you , bitcoin is best financial for criminal activity.
If you know in deep web many criminal activity using bitcoin like kill someone , sell weapon and drugs.
If you know in deep web many criminal activity using bitcoin like kill someone , sell weapon and drugs.
Which isn't very smart, IMO. If they know how to get around tor and know how to manipulate their IP address so it would be impossible for anyone to track their location, that's one thing... but if they buy bitcoins using exchanges such as bitstamp, or worse, something like coinbase; then they could be potentially screwed because of the fact that your purchase can potentially be traced back to your bank account, and therefore your identity.
That's why we have mixers, dice sites, altcoin exchanges, and local bitcoin -- for the criminal in teh know
Forest friends!
Bambi lost his bitcoins in the blockchain public ledger, and also his Dad.
Can you help? Spot the woodland critter who don't belong!
jk, Bitcoin's a honeypot.
Yeah I agree with you , bitcoin is best financial for criminal activity.
If you know in deep web many criminal activity using bitcoin like kill someone , sell weapon and drugs.
If you know in deep web many criminal activity using bitcoin like kill someone , sell weapon and drugs.
Which isn't very smart, IMO. If they know how to get around tor and know how to manipulate their IP address so it would be impossible for anyone to track their location, that's one thing... but if they buy bitcoins using exchanges such as bitstamp, or worse, something like coinbase; then they could be potentially screwed because of the fact that your purchase can potentially be traced back to your bank account, and therefore your identity.
Wendy's was just hacked and the hackers made off with an unknown number of credit cards. But noooo, Bitcoin is the preferred currency of criminal financial activity, amirite?
and this is the awesomenes of bitcoin,i know bitcoin cannot compare with credit card,but i think bitcoin is tottaly better than credit card,so far i never got hacked,and my bitcoin is very safe for now,and i dont hope i got hacked 
Right in a way, I always think CreditCards is the most dangerous online payment method, You actually leave all the balance in every site you fill the details in. BTC needs some care just from you on your computer security etc...
Dangerous to who? Certainly not to you, because *chargeback*. With Bitcoin? Fat-finger an extra digit? Send to the wrong address? Get hacked? Ur monyz b gone
I do not have credit card and PayPal account. To make online payment I find many difficulties without these things. But bitcoin solved my problems and that is the reason I love bitcoins.
Right in a way, I always think CreditCards is the most dangerous online payment method, You actually leave all the balance in every site you fill the details in. BTC needs some care just from you on your computer security etc...
While using bitcoins is an excellent way to make your purchases, donations, and p2p payments, without losing money through inflated transaction fees, transactions are never truly anonymous. Bitcoin activities are recorded and available publicly via the blockchain; a comprehensive database which keeps a record of bitcoin transactions.
All exchanges require the user to scan ID documents, and large transactions must be reported to the proper governmental authority. When you use Bitcoin to pay for goods and services, you will of course need to provide your name and address to the seller for delivery purposes.
This means that a third party with an interest in tracking your activities can use your visible balance and ID information as a basis from which to track your future transactions or to study previous activity. In short, you have compromised your security and privacy.
All exchanges require the user to scan ID documents, and large transactions must be reported to the proper governmental authority. When you use Bitcoin to pay for goods and services, you will of course need to provide your name and address to the seller for delivery purposes.
This means that a third party with an interest in tracking your activities can use your visible balance and ID information as a basis from which to track your future transactions or to study previous activity. In short, you have compromised your security and privacy.
I am away in a foreign country. When I use my debit card to withdraw money from ATM, often the charge gets duplicated in my account and then refunded some days later. Pretty "functional" right? What if I needed that extra money?
Credit/debit cards are indeed not perfect.
Credit/debit cards are indeed not perfect.
Bitcoin isn't actually that anonymous... You can track and trace where bitcoins go and how much, also you can possibly trace and identify who bought those bitcoins, and even scarier, could possibly get your CC info and personal info if you bought it from an exchange site like coinbase and coinbase ended up getting hacked.
Bitcoin is primarily pseudonymous, but it's a hell of a lot better than using debit cards/credit cards.
Well, what do you think of Monero or DASH? Do you think their "improved" anonymity tools actually work?
Yeah, I really do think they work. I hesitate bringing up alt coins on the "bitcoin discussion" section of the forum, because usually it brings out some anger towards my way. Both do a very good job, as well as aeon... don't know much about boolberry though. The reason why I own XMR only, though, is because it was fairly launched and wasn't ninjamined from the beginning.
The amount of sophistication and dedication of the core team is unreal. They use ring signatures along with ring CT, that it is essentially pointless to try and find out who sent what, how much was sent, etc. Here's the white paper for those who would like to read it (some of the stuff goes wayyyyy over my head though):
http://diyhpl.us/~bryan/papers2/bitcoin/Ring%20CT%20for%20Monero.pdf
Getting back on point though..
The anonimity thing is a completely different issue. Stolen credit cards can be used in the same way for illegal activities. The theives don't get burned and the ones who get their card stolen may suffer briefly before getting reimbursed.
You've got a point... hiding your identity is not the point here, it's all about security. And the fact of the matter is, is that Bitcoin has a real chance of being rendered less secure after the halving and people are forced to shut down their miners due to costs and not being able to afford the bills.
I don't think it's quite like that. Some miners would stop, then price would go up, and so forth... It's an equilibrated balance between btc price and number of miners. It's not like suddenly everyone would be forced to stop mining.
Wendy's was just hacked and the hackers made off with an unknown number of credit cards. But noooo, Bitcoin is the preferred currency of criminal financial activity, amirite?
Very good example of why debit/credit cards suck. If bitcoin was used, the criminals would get nothing but a list of addresses. (useless) Wendy's was just hacked and the hackers made off with an unknown number of credit cards. But noooo, Bitcoin is the preferred currency of criminal financial activity, amirite?
Due to anonymity of bitcoin transaction,it can be used for illegal activities but blaming bitcoin for this is like blaming fire if someone got burnt.It is the use that you put something to that is wrong or rightBitcoin isn't actually that anonymous... You can track and trace where bitcoins go and how much, also you can possibly trace and identify who bought those bitcoins, and even scarier, could possibly get your CC info and personal info if you bought it from an exchange site like coinbase and coinbase ended up getting hacked.
Bitcoin is primarily pseudonymous, but it's a hell of a lot better than using debit cards/credit cards.
This is why I do not use them ---> https://blog.coinbase.com/2016/01/28/shift-card-a-glimpse-under-the-hood/ .... You sacrifice a lot of your
private information, when you use them. They know how many times you bought McDonald's in a month and what you ordered online. My
question, Why do they need to know all of that? Is nothing private these days...?
Wendy's was just hacked and the hackers made off with an unknown number of credit cards. But noooo, Bitcoin is the preferred currency of criminal financial activity, amirite?
Due to anonymity of bitcoin transaction,it can be used for illegal activities but blaming bitcoin for this is like blaming fire if someone got burnt.It is the use that you put something to that is wrong or rightAnother iteration of "guns don't kill people, people kill people." Sure, AK47s with nanner' mags don't kill people by themselves, but sure come in handy in case you ever wanna do it.
This happens all the time. Nothing new here, this is a very common thing to see happening with credit cards.
A company gets hacked somehow and thieves steal all the important information and commit fraud.
A company gets hacked somehow and thieves steal all the important information and commit fraud.
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