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Topic: Bitcoin Are Now Used in Crimes - page 28. (Read 13114 times)

full member
Activity: 784
Merit: 101
November 20, 2017, 10:26:37 AM
Bitcoins has regained its strong value, As of this posting, the value per 1 bitcoin is exactly 4786.59 US Dollar.   Soon we will see more ways people can squeeze the most out of bitcoins.   Since the advent of the internet to be profit oriented in the 90's, no one would possibly have imagined that the Internet would breed Facebook, Google, Uber, online streaming, etc. This is where we are with the Blockchain now. There exists a whole world of opportunities out there.  

These opportunities have the unrighteous users of this cryptocurrencies to also used its advantage. We cannot deny for a fact that cyber crimes have been committed since the birth of the internet.  Once, stealing was done with having guns, now, robbers can easily hack bank accounts or counterfeit credit cards to their advantage.  Sooner, cryptocurrencies can be used to pay crimes such as services for creating counterfeit birth certificates and this is not far from happening.  Actually, the US has already cases on this matter.

Another is the crime of buying illegal-drug emporium that used Bitcoin as a medium of exchange, politicians and policymakers took notice. Criminals, it turns out, really like bitcoins, which can be exchanged for nefarious purposes on the "Dark Web," with complete anonymity and, it seems, impunity.

Although, there are some articles that i have read regarding criminals cannot hide behind bitcoins, still, there are difficulties tracing transactions using cryptocurrencies. That is why law enforcement agencies should have a to change their procedures to pursue criminals who make use of the latest technology to commit crimes. Let the law find a way to evolve to address new tech challenges. There is no reason to expect that law enforcement won’t be able to get a handle on this new cybercrime.

I think before the existence of any cryptocurrencies, criminality is already in the virtual world, or more in the know with cybercrime, it already exists and many. but with the presence of bitcoin today, cybercrime is increasingly rampant, because the payment transactions they receive, using bitcoin, making it very difficult to track, because the nature of bitcoin is very anonymous
newbie
Activity: 33
Merit: 0
November 20, 2017, 10:19:41 AM
It is not just Bitcoin and technology. The sad truth is there will always be crime. If criminals think that they can get away with it and make money from some new invention, they will use it to commit crime.
full member
Activity: 458
Merit: 112
November 20, 2017, 10:18:34 AM
YES! corruptions, extortion, prostitution and many more , bitcoin is a process of payment where you cant find any evidence to point an exact person (from).. this will hide the identity of the payer! and this is oe of the bad side of bitcoin
sr. member
Activity: 2436
Merit: 343
November 20, 2017, 10:16:08 AM
This is not a new for the people who are in bitcoin for a few years because in the first few years of bitcoin, it is very popular in the black market because they can just do illegal stuff and do payments using bitcoin because of its anonymity which is serving as a protection for the people who don't want to get caught by the authorities so they are using bitcoin in their crimes.
full member
Activity: 448
Merit: 100
★Bitvest.io★ Play Plinko or Invest!
November 20, 2017, 10:05:52 AM
But the fiat also can be used by the criminals to commit crimes but I know your point is that it is more secured to use by criminals for its transactions are anonymous that the authority are having a great deal finding the ones behind those transactions. Bitcoin also gives opportunity for those people to buy or sell illegal things/services, we can't stop them from doing that because everything can be used to commit a crime not only bitcoins, what I mean is that the government should just have to used their intelligence info to  capture those criminals.
member
Activity: 448
Merit: 10
November 20, 2017, 09:47:25 AM
Yes. And we all should be aware that this is happening right now. Bitcoins can be used in dark negotiations because the government is having a hard time to trace this kind of transactions.
member
Activity: 452
Merit: 13
HODL
November 20, 2017, 02:07:56 AM
Hi there Jake052478! I agree with you about utilization of bitcoin as a vessel in doing evil and unlawful stuff. Add on to that there are reports where different ICO nowadays operates like a  Ponzi or "pyramid" scam where a promoter promises investors unrealistic returns on fake investments at the end investors receives nothing. However, not all investment company do such unlawful things, my friend of mine has invested in ANGEL TOKEN wherein the investor could refund the investment even after 5 months period, guaranteed through immutable Ethereum based smart contracts which is an excellent thing to ensure your investment don’t go with the wind.  Wink
newbie
Activity: 35
Merit: 0
November 19, 2017, 01:57:22 PM
today most of bitcoin users are hackers or dark net users but in future any one can use it so my answer is yes
full member
Activity: 196
Merit: 100
November 19, 2017, 12:49:03 PM
I believe manipulating the price of Bitcoin is the biggest crime.  Market manipulation is fairly rampant in cryptocurrency.  Heres a well example https://cointelegraph.com/news/single-trader-with-enormous-bankroll-is-manipulating-bitcoin-price-but-to-what-end

Is there some form of protection we can give Bitcoin other than holding during attacks? 
member
Activity: 364
Merit: 10
November 19, 2017, 12:39:42 PM
Those anonymity makes bitcoin an ideal weapon for crime. It's true that it's a public secret. Everyone here already knows about that. That's why bitcoin is illegal for some countries.
full member
Activity: 396
Merit: 104
November 19, 2017, 12:35:39 PM
Bitcoins has regained its strong value, As of this posting, the value per 1 bitcoin is exactly 4786.59 US Dollar.   Soon we will see more ways people can squeeze the most out of bitcoins.   Since the advent of the internet to be profit oriented in the 90's, no one would possibly have imagined that the Internet would breed Facebook, Google, Uber, online streaming, etc. This is where we are with the Blockchain now. There exists a whole world of opportunities out there.  

These opportunities have the unrighteous users of this cryptocurrencies to also used its advantage. We cannot deny for a fact that cyber crimes have been committed since the birth of the internet.  Once, stealing was done with having guns, now, robbers can easily hack bank accounts or counterfeit credit cards to their advantage.  Sooner, cryptocurrencies can be used to pay crimes such as services for creating counterfeit birth certificates and this is not far from happening.  Actually, the US has already cases on this matter.

Another is the crime of buying illegal-drug emporium that used Bitcoin as a medium of exchange, politicians and policymakers took notice. Criminals, it turns out, really like bitcoins, which can be exchanged for nefarious purposes on the "Dark Web," with complete anonymity and, it seems, impunity.

Although, there are some articles that i have read regarding criminals cannot hide behind bitcoins, still, there are difficulties tracing transactions using cryptocurrencies. That is why law enforcement agencies should have a to change their procedures to pursue criminals who make use of the latest technology to commit crimes. Let the law find a way to evolve to address new tech challenges. There is no reason to expect that law enforcement won’t be able to get a handle on this new cybercrime.

In our day there are so many that we can do even though we do not expect to happen before? is happening now. And we can not even avoid those things. All of them also commit crime as well as bitcoin. Maybe someone else uses it they do not know or would like to inform bitcoin. Because they do not want to lose people's trust in them. But they also get it right when they notice a problem Smiley.
full member
Activity: 177
Merit: 100
November 19, 2017, 11:52:24 AM
i dont think so nor i have heard some that type of news that btc will used in crimes. i have heard it for the first from you,but as we see its price moves upward and so strong, so may be there are a lot of possiblities that people will use it in crimes.
jr. member
Activity: 51
Merit: 3
November 19, 2017, 11:46:11 AM
Bitcoin is now use in crime? Yes!  Even before it started at the deep web. Some of the porn site there need a bitcoin to access.  It is also use in drug transactions because of its anonymously that hides the identity of both party. It is also use there currency for illegal transactions like buying guns, drugs and even human trafficking.
member
Activity: 108
Merit: 10
"SIMPLE SHOPPING AND SAFE PAY"
November 19, 2017, 11:39:12 AM
exactly! cause of the way bitcoin was design to trade. there was not that much security functions going on in each transactions. so, you can purchase illegal goods. and in addition, now a days inckude bitcoin to there website/company/organization onlinr to attract people and suddenly its scam! so, we need to be very careful
copper member
Activity: 700
Merit: 120
Gamdom
November 19, 2017, 11:27:14 AM
Yeah it's sad but true that bitcoin now used in many crimes.Also it was used and will use in crimes.We can see that in dark web.They hire murdered and paid with bitcoin.Also people are now using bitcoin to buy drugs.
sr. member
Activity: 1071
Merit: 253
November 19, 2017, 11:22:42 AM
Bitcoin technologies are not even close to perfect. They're anonymous, possess a little fee and a high-speed of transfers. This will work for scammers and those who are away from legislation. But it's a matter of time. Each time the protection systems improve. There is a struggle in between hackers and security services.
Actually bitcoin is not here for any crime or for any bad things when you read bitcoin so it will teach you a lot of good things because bitcoin is here to help us so we need to use bitcoin for good things and I heard bitcoin is not going to donate as well to some organization which is using for against crime and other human right violation.
full member
Activity: 816
Merit: 133
November 19, 2017, 11:16:05 AM
I won't be shock that criminals and/syndicates use Bitcoin as a form payment. Due to the reason that the industry is decentralized, These people use it as an advantage to transact freely under the radar of the Government. Also due to the anonimity of the user it maximizes the reach of the syndicates/criminals.

Bitcoin could be the breakthrough of the crime world, as all of the transactions are untraceable. Which give them an advantage against the police and/or the law. It would be a disaster when all of the criminals/syndicates/terrorists used this to organize an attack. It would cause chaos and for sure the damage that can be done will be beyond our imagination.
full member
Activity: 1134
Merit: 105
November 19, 2017, 11:00:02 AM
Its not new its started from begin. Most of user use it of some illegal activities. Like drugs, Gambling, and Money laundering. We all are aware about the disadvantage of bitcoin which is untraceable. Since there's no control on bitcoin so its hard to caught them.
hero member
Activity: 560
Merit: 500
November 18, 2017, 11:45:08 AM
A small quantity of bitcoin worth alot these days. Bitcoin is used in crime because of its high price and anonymity. Funds can be easily transferred from one place to another without anyone knowing about it.
full member
Activity: 490
Merit: 102
November 18, 2017, 11:35:04 AM
Yep, decentralization does bring certain consequences. If we want to use Bitcoin as a legalized currency for day-to-day businesses, a degree of regulation can be applied as long as it does not destroy the decentralization nature of Bitcoin. An uncontrollable currency being used in crime is totally reasonable since, we are humans Grin

Btw the current fiat currencies are also being used in crimes.
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