Topic: Bitcoin Are Now Used in Crimes - page 35. (Read 13114 times)
Well you said, every technological advance has been used to commit a crime. The BTC is the preferred currency of the big criminals of the world, not only for drug trafficking, it is said that human trafficking and large prostitution networks rely on this virtual currency. Now, his movements are almost imperceptible. Definitely, justice needs to be as cunning as cybercriminals.
You would be surprised what sort of things can be used as means for exchanging money for facilitation of criminal activity. One example is diamonds. People think diamond are a symbol of love and pureness, but there are powerful people that practically control the industry and have slaves who mine diamonds at the bottom of the system.
Bitcoin are now used in different kind of crimes like scamming. Now that bitcoin price is rising all scammers are using all the ways to get bitcoin. It also used by rich people to hide their money to avoid paying their tax and it is also used for transferring money by all illegal business. That's why not all country are accepting bitcoin.
ISIS has been noted that they owned a lot of Bitcoin to buy supplies and firearms so yes, it is indeed used by criminals to avoid government authorities to track their evil works.
Not only criminals but also used by rich people to avoid tax evasions by their government, using Bitcoin to eliminate these tax collection from the government will give them freedom on how they their fortune using Bitcoin.
Not only criminals but also used by rich people to avoid tax evasions by their government, using Bitcoin to eliminate these tax collection from the government will give them freedom on how they their fortune using Bitcoin.
It is undeniable that bitcoin is indeed used by criminals because bitcoin is anonymous, so criminals trading in bitcoin can not be traced by the government. This is also one of the reasons some countries prohibit bitcoin. 
I agree with you that bitcoin is used by criminals to do their criminal acts. Because as you said, transactions made under bitcoin are anonymous as you do not need to include or disclose your identity or information. But, even if bitcoin still not into existence, criminals do whatever they can just to execute their evil plans. It just made more easier for them and untraceable because of cryptocurrencies especially bitcoin.
In recent there is a virus for android smart phones. The virus corrupted the data in the phone and they are asking payment for recovering the data.They asking send money to their Bitcoin account.Because nobody cannot know who is the owner of the account.
that is one big disadvantage of bitcoin and a reason why other countries do not support bitcoin.it is easily been used in illegal purposes like having large amount of money to fund illegal activities without being noticed since it is not being traced like banks.
Bitcoin has a public ledger, how is that not traceable?
that is one big disadvantage of bitcoin and a reason why other countries do not support bitcoin.it is easily been used in illegal purposes like having large amount of money to fund illegal activities without being noticed since it is not being traced like banks.
As is fiat. All currencies will be used for crime, it can't be to blame.
It is undeniable that bitcoin is indeed used by criminals because bitcoin is anonymous, so criminals trading in bitcoin can not be traced by the government. This is also one of the reasons some countries prohibit bitcoin.
Indeed, Bitcoin can be used for crimes. Things of worth will be utilized as currency on the lawful and the black market. Same goes for precious metal, cash, vehicles, drugs you name it.
Why nobody tries to ban diamonds, gold, cash and so many other currencies that have forever been used for illegal purposes since when all these currencies have a name tag on them, they are legit values, very anonymous and in some cases very easy to carry and hide. The fact that some authorities pick on bitcoin is simply because of lack of control from them and form the banks, has nothing to do with criminal activities. Is it easier? Maybe, all transaction are open in the ledger, are public, so the old motto still true, follow the money and you find the owner.
I think yes because bitcoin is decentralise everyone can use bitcoins and no one can freeze your money bitcoin transaction is on public but you cannot trace the people who are using bitcoin thats the reason why they use it and also fast transaction
USD is not ?
at times like this are many who take the opportunity to use bitcoin as the main tool in committing a crime and somehow I can never imagine with people like that when we can get bitcoin without having capital.
Yes it is but not only nowaday, it has been used in offences for a long time if this became more well-known. As you know Bitcoin is being used the most in cash laundering and drug trafficking make the transaction is really secure therefore it is hard to find out who owns any transaction. Next to, when Bitcoin is not seem, if crimes want to make an offer they have to bring money or tranfer from Financial institution and it is simple to find out but with Bitcoin they just need to do couple of clicks and everything done and it's not easy to find out anybody did that. Do you remember what went down to Btc-at the few months back? It is a common instance with this case
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.
It it possible that bitcoin can be cause a big damage in economy and country especially when it comes to drugs. They can sell drugs easily thru bitcoin because there transaction is not seen by the government and it is not recorded so they can get the money without thinking how they will caught. 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.
Fiat currencies is used in crimes and illegal purposes as well, and a lot before the creation of Bitcoin. So it depend not in the currency but in the intention of people regardless their payment methods.
Bitcoin is used for so many purposes, including some illegal ones, just like fiat.
Bitcoin is used for so many purposes, including some illegal ones, just like fiat.
Because of anonymity of users, while making a BTC transaction, it helps criminals to make a financial transaction without much hassle. Police can't really trace a BTC transaction so they got no evidence to prove accused a culprit in court.
Because of some Unique features like anonymity and decentralization, BTC transactions can't be detected. This helps the criminals to make a financial transaction easily and quickly without much efforts. This is the biggest threat of BTC usage. Govt. also taking this issue more seriously now, and therefore either want to regulate the BTC Transaction or BAN it to remain safe.
I think nothing is perfect. Beside of the benefits of bitcoin and always stroll with negatif for example above point out. I hope there's a way in long term to prevent bitcoin employed for crimes.
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