Topic: Better than "GOLD" for criminals, BTC is easier to steal; Easier to scam; - page 3. (Read 604 times)

let me guess why you're angry:

1 - you bought bitcoin on high and now you are at a loss and decided to cry here on the forum

or

2 - you invested in gold and spent the whole year and made a miserable profit and saw the high price increase that bitcoin had and how people made a high profit investing in bitcoin and now you came to cry on the forum because you are jealous

Well for stealing bitcoins.

If you don't usually connect your seeds/private keys to the web and you've got your own cold storage, you're unlikely to be hacked.  

There were those people that have been hacked and their bitcoins were stolen because they've never been secure and didn't do the basics of keeping their keys safe and probably signs up for a phishing site.

Regardless, Sha256 is still one of the most secure algo in the market until the era of quantum computers come to play which is by the next decade. Until then, Bitcoin would still be the de-facto crypto for everyone to use as store of value.
Privacy isn't one of bitcoin's biggest selling points considering all data is available on a publicly viewable blockchain. But back on decentralization topic, it does a very good job. To achieve the level of privacy that would add additional security since there's no tracking, then we have the taproot upgrade which would add another layer of security and privacy to Bitcoin transactions.

Nothing is perfect in this world. after all anything can be a tool of crime, depending on the user. and as you said, criminals, whether money laundering, black market, drug trafficking, etc. can use this easily and "hiddenly". but the other side is also very profitable, this is part of the evolution in finance, everything is getting easier without the administrative problems that take a long time.
basically it depends on who the user is and what the purpose is. the bad side and let's put this to good use while it gives us a good chance.

Whether it is bitcoin, gold or some other valuable asset. It has got the good and the bad, which means advantages and disadvantages within it. Our responsibility is to overcome the problem and make use of the good in it. Even now people aren't aware of bitcoin compared to gold. This is the reason why gold is getting more importance over bitcoin.

Being an anywhere accessible asset, bitcoin is more easier to be moved anywhere. Gold being a valuable asset isn't that accessible as bitcoin, even after its digital form of investment access. Gold can't be used for transaction needs as bitcoin, which is also a reason for the increased chance of bitcoin being stolen easily. As per the present security structure it is quite hard to steal bitcoin, but scamming is possible and happening in large-scale with the beginners.

One cannot just exclude the fact that ' bitcoins is trackable', ofcourse we have exception for the virgin coins which are just mined but let's be honest we don't have many of them.

Have you seen any good trading platform which does not require documents therefore you have to understand that one cannot just scam people on a big scale and then run away.

At rhe same time one have to understand the fact that gold is a physical asset which can be stolen anytime. If you are very careful with Bitcoins and your wallets then there is no possibility of them being stolen. Most of the times it's problems with the personal security and not bitcoins itself.

One supposed Crypto investment company that proves original author point is www.coinassetfinance.co. Supposedly Great Britain based with a domain owned by an American and @gmail.com for their email address. CAF that they like to go by, has only Telegram as their communication medium of choice. Never replies to emails or sends out written rules and regulations to investors, as required by international laws. Do not invest with Coin Asset Finance or CoinAsset-Finance. They are nothing but modern day Internet based thieves.

Rogue nations like north korea have reportedly been involved in a majority of crypto ransomware attacks. They're state based attacks made by countries currently under economic sanctions. Making it impossible to extradite or prosecute ransomware attackers due to north korean authorities not cooperating with law enforcement, opting not to abide by international extradition.

A case could be made for traditional financial institutions being breached and attacked far more severely in contrast to crypto equivalents. The federal reserve having reportedly been breached more than "50 times" in 4 years doesn't set a good precedent.


....

Gold is actually not a good option for criminals. Cash in the form of unmarked bills is the option of choice for villains in movies for good reason. Unlike crypto, paper bills leave no digital trail.

BTC is easier to use for regular people too. Criminals will always try to find the way to use something in their benefit.
And how it's easier to steal? If you don't know the private key you can't get access to BTC. Yeah, some of holders may be dumb enough to give it to you but there are always people who can be easily tricked.

Being a Bitcoin user for more than a decade, my only question here is this - if Bitcoin is tailor made for the criminals, then why 99% of them are using fiat currency instead of BTC? And compared to the situation we had when dark markers such as Silk Road and Alphabay were running, now the proportion of BTC transactions that can be linked to the contraband trade has plummeted. One of the reasons is that the criminals no longer regard Bitcoin as a "safe" medium. They don't prefer a currency, where each and every transaction is stored in the blockchain.

In terms of security, since Bitcoin is being managed and used online, the scam is often times occured. The anonymity added the reason why it was used by some criminals. It's decentralization content also abused that it may be use in unusual way.

However, there is also an advantage of using bitcoin, the convenience of using it by transacting online and most of us here used it as store of value. Gold is also a good investment but in terms of alternative payment use, it can not be use as that.

If you hate BTC so much why don't you just go away.
I know you have none and have never had access to any real amounts of coins.
Nobody who uses BTC really cares what you have to say.
Nobody on this forum really cares about what you have to say.

You come here to tell everyone how bad BTC is and how bad CHIA is yet you own none and never have.

Just stop complaining and being a troll get a job.

Oh, and BTC is better then gold since more places take it for commerce then gold (Which you don't have any of either)

-Dave

COINBASE is OWNED by the IRS; They have already banned 'tainted' aka mixed coins; The FBI, NSA, and almost all Gov's on earth have now had +10 years to study and develop tech to track everything about bitcoin, especially given that +90% get in&out of BTC via the exchanges which like COINBASE have already setup 100% KYC.

Then there are the third party tools like Palintir that Lets the Govs unify bitcoin paypal and swift and track everything anybody on earth does;

U can almost argue that the users of BITCOIN are just puppet's and that the puppet masters aren't even seen. The only way to play bitcoin is to be a virgin miner, off the grid with 1,000's of S-19's mining your own virgin BTC, that is then untraceable, but what 99% of the people on this board do is probably tracked more than normal banking.

Real criminals use cash, I think that every single nimrod that has extorted somebody for bitcoin has been busted. It really is money transfer for retarded people.

Why would the Mafia trade in something that fluctuates 50% on a daily basis. Nutz.

Like all algo's what the NSA does is study all and develop predictive models, what they track of interest is that which hadn't been predicted; The anomaly is the point of interest; Like lots of BTC going to the same place, or coming out of the same place, that hadn't already been predicted;

The way its setup now, COINBASE will not even accept a 'tainted coin' and the first time u use it of course you have an account, so they know your KYC data, automatically the FBI gets a notice "Customer transaction tainted coin", visit & all, even though you were denied the ability to use it.

So BTC has become the GOV control freaks nirvanna, like a heaven for arseholes.

Which leads us back, how is this all better than physical gold in the hand. Its NOT;

Agree, the FBI has more tools to detect you when you are using crypto especially bitcoin compared with fiat plus it's really difficult to split all those bitcoin in different addresses because they will track those addresses one by one. I don't get why people hate it that bitcoin is being used by criminals when it's much easier to track them this way.

Probably because people are quite ignorant of what and what not to do on the internet platform, thinking that everything is safe and that they can take everything for granted. Not to mention that gold is heavy lmao. And fr, why are we blaming mediums of transactions for being easy or whatnot when really anything is easy to steal if the people holding it are ignorant, whether it be fiat, btc or any other crypto, heck even simple items.

Though tbh, it has made stuff easier for criminals, but hey, that's because they know how to use it, unlike the majority of the people who invested into it.

Exactly, thank you for saying this. If you are flexing your money in social media platform and you always have it on topic when you are talking to someone then you are going to meet someone that will also tell it to others until the stories found it's way on a malicious person. But OP is right that it's much easier to steal bitcoin than gold since there's no manpower needed unless there's a security that you need to breach, most things stolen nowadays are digital anyway.

bitcoin has been used by thousands of retailers in the world, bitcoin is used by all walks of life, from large financial institutions to your grandchildren, this doesn't mean criminals don't do it, just like conventional money, criminal users also use bitcoin and crypto, actually do crime using crypto makes it easier to track down,

Well, actually you have to think more positively and don't need to think too much about risk, here we are in a community that of course should be able and understand more about the popularity of bitcoin and its advantages, which can still avoid all things that are detrimental.

You become a target if you're too vocal about owning bitcoin in public places. You don't have to tell everyone that you're into bitcoin.

And about being scammed, everywhere there is a scam and it's not only in the bitcoin community that has scams. But also in real life, there are scams and hacks.

that's nonsense. bitcoin is the hardest to steal. if people leave their door open and put a welcome sign for thieves on their doorstep that  doesn't mean the lock they were using was easy to break, that means those people were idiots.
of course considering your post history filled with trolling and FUD i am not surprised you created yet another low quality topic which apparently is allowed in this forum