Bitcoin is a poor choice for these activities, as it leaves traces. Even more traces than fiat...
Sure you could mine some yourself, then maybe buy with them one of the fancy altcoins that promise anonymity, and then try with that, but then you could have mined that coin to begin with...
Topic: Bitcoin, Dark Web, Drugs and Government. - page 7. (Read 1186 times)
Bitcoin usage into dark web, particularly in drugs were very high. At the same time this isn't the major transaction medium for drug, hawala funds gets transacted for the drug exchange in large scale. Governments major indications to restrict usage of bitcoin were the usage on darkweb and illegal transactions.
Drugs are often an excuse to make many other things illegal. They kill a lot to "save" people from this terrible menace.
Bitcoin isn’t made for this and Nakamoto doesn’t want this to happen to his creation but criminal minded individuals won’t stop using any financial processes to they’re advantage. Bank been used before, remittances also and especially cash basis.
So as bitcoin and other altcoin.
My thoughts:
Do we have stop using cryptocurrency for this reason?
• No and I will not.
Do government have to regulate it?
•No at this point in time. Soon maybe if they can craft the best law that is fair and square to both the investors and the law enforcers.
So as bitcoin and other altcoin.
My thoughts:
Do we have stop using cryptocurrency for this reason?
• No and I will not.
Do government have to regulate it?
•No at this point in time. Soon maybe if they can craft the best law that is fair and square to both the investors and the law enforcers.
@acroman08. I shake my head to these people who use bitcoin for the darknet. Someone should advice the leaders of those drug syndicates in your country to use Monero or they will be sorry.
This issue isn't new in fact this kind of act has been around for so long .
It is the reason why Bitcoin has been famous from the very beginning,
SilkRoad is one of the early market that make a big noise for Bitcoin and drugs.
Criminals are taking advantage of anonymity that is why it is pretty famous in Dark web to keep their track clean.
That is why most people see Bitcoin as something illegal because of those acts.
It is the reason why Bitcoin has been famous from the very beginning,
SilkRoad is one of the early market that make a big noise for Bitcoin and drugs.
Criminals are taking advantage of anonymity that is why it is pretty famous in Dark web to keep their track clean.
That is why most people see Bitcoin as something illegal because of those acts.
Not just in the Philippines for sure because many countries are concern about the transactions on cryptocurrency because it can really use for this purpose and for the purpose of terrorism. Well, I hope that it cannot affect the on-going applications of many cryptoexchanges there.
This is a sad thing about cryptos, but remember that criminals always find ways to bipass security, no matter what
They were doing this since...ever
Here in Brazil exchanges will need to inform governments about every transaction, but in P2P there´s no way to track illegal activities
They were doing this since...ever
Here in Brazil exchanges will need to inform governments about every transaction, but in P2P there´s no way to track illegal activities
This has been one of the largest concern when we talk about bitcoin, unfortunately the news is right most of the people in dark web used bitcoin to do transaction, I think the government need to do something to prevent this, bitcoin is only tools the one that is wrong is the users and btc is not totally anonymous
Philippines war on drugs entered a new phase as drug Syndicates are now using bitcoin to transact and avoid detection from the government. PDEA(Philippine Drug Enforcement Agency) recently found out that most organized Drug syndicate are using the dark web to transact to each other. It's clear that some countries are slower at adopting new technologies and these drug syndicate took the opportunity to make their transactions much easier without being detected by the government. here is the link for more details: https://www.philstar.com/headlines/2019/06/11/1925535/pdea-drug-syndicates-use-dark-web-bitcoin
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