Topic: Bitcoin is for criminals - Or so they say. (Read 3481 times)
The paper does stand behind good history that there are a lot of criminal organizations which use Bitcoin for criminal activity, however now that the governments are forming task forces to track down the use of Bitcoin for illegal purposes, there will be less use of it. Cash is always king when it comes to criminals, no paper trial. Again, this is my opinion.
Not for the criminal activities, but for huge volume of transactions people started using it as banks were demanding for high transaction fee as well taxation issues.
but if you are avoiding tax or trying not to pay tax this is also an illegal activity, because states run on taxes and if you are not paying your legal tax that is not good for you for the state and for other people, but i will like to add that we are not paying tax on bitcoin because most of the states have still not policy about bitcoin or to impose tax on bitcoin may be the reason that still they have not legalize it. But OP, what do you mean "where is all the money" from these illegal activities? How would you know what's being used for what? You know damn well bitcoin is used on dark markets and by hackers. If you can argue against that, I'm all ears. The whole Silk Road thing? That was real, and it was a lot of bitcoin there. The bitcoin transactions are totally dwarfed by fiat cash ones, but they're still significant. And real.
It is stated in the OP, drug industry alone is estimated approximately $360 billion per year. You may check the Bitcoin blockchain, and you gonna see yearly Bitcoin transactions estimated value. And drug industry is only small part of the crimial activity, plus Bitcoin is obviously used for non criminal activites as well.
This means Bitcoin can be used only for small percentage of yearly criminal activity - numbers prove it, no need to go to the traditional news server chat discussions and argue with the clueless hordes as the OP suggests - I have done that in the past and its like pissing against the wind.
Bitcoin is for anyone not just for criminals. Bitcoin was not created to use it as a tool for illegal doings. It is created as an innovation in the cyberworld as a currency. Maybe others use it at illegal things because of its anonymous transaction but it only depends on how you are going to use it. Is it for good or bad? People always finds a way on how to use a certain thing for good and bad.
I agree that bitcoin is for everyone. It is not solely created for illegal stuff, in fact the purpose of Bitcoin is to stop the illegal things the current monetary system is exploiting. But sadly, seems bad people are far more faster in adopting and exploiting things reason why bitcoin had lots of bad press. Am sure this is like a disease that is hard to cure. Like money main problem, being used for illegal activities.
Not for the criminal activities, but for huge volume of transactions people started using it as banks were demanding for high transaction fee as well taxation issues.
I kinda agree/disagree with you, as bitcoin has grown a lot lately and became stronger currency than USD and EU, what makes us think BTC is for criminals is because its between people (P2P) not governed by governments , so all your transaction you do are pretty much anonymous and its hard to track you down which makes a preferable currency for criminals , in other hand there is a lot good websites you can make BTC from it and invest it and use it online , there are a lot of stores online nowadays that accept BTC payment.
Why bitcoins is used in illegal activities is simple. It is because bitcoin is a currency and has a value. Like any other currency especially fiat currency it may be used to anything we like, to use it normally and legally or to use it in illegal activities. Bitcoin is like that also, since bitcoin has a value the user has a choice on how he is going to use his bitcoins.
If prefer, of course criminals will prefer btc. But for purpose, btc purpose is not for criminal. Its for everyone, why they blame btc for that illegal thing. Fiat also use in illegal then why didnt bame fiat as well. Its for everyone and can be use both by criminals and not.
actually the criminals prefer USD a lot more than they prefer using bitcoin. because they are not tech savy at all and like any other average joe have no idea how to use bitcoin so they don't and they continue sticking with fiat.
I've also seen some positive stories about Bitcoin, but the negative ones are the ones that get more attention.
Ok, so in every article or podcast or interview... we have to hear that Bitcoin is the preferred tool for criminals. If that was the truth, we should all be filthy rich by now... right? ....The question is, where
are all this money from money laundering, drugs, prostitution and all the nasty stuff, Bitcoin is being blamed for.... I do not see it, do you? Should we play to our strength then, if Bitcoin is only good for
criminal purposes? ... I mean to say, if we only attract say 10% of the total amount of money spend on drugs alone, we would most probably be millionaires in a month or two.
" With estimates of $100 billion to $110 billion for heroin, $110 billion to $130 billion for cocaine, $75 billion for cannabis and $60 billion for synthetic drugs, the probable global figure for the total illicit
drug industry would be approximately $360 billion. "
This is a tongue in the cheek poke at all those people, who points fingers at Bitcoin for being the culprit and those who are saying Bitcoin is the primary tool for criminals to do their business online.
Can you smell the bullshit in their statements? The numbers just do not match up, with what they are saying.
http://dcebrief.com/digital-currency-for-commerce-or-criminals/
are all this money from money laundering, drugs, prostitution and all the nasty stuff, Bitcoin is being blamed for.... I do not see it, do you? Should we play to our strength then, if Bitcoin is only good for
criminal purposes? ... I mean to say, if we only attract say 10% of the total amount of money spend on drugs alone, we would most probably be millionaires in a month or two.
" With estimates of $100 billion to $110 billion for heroin, $110 billion to $130 billion for cocaine, $75 billion for cannabis and $60 billion for synthetic drugs, the probable global figure for the total illicit
drug industry would be approximately $360 billion. "
This is a tongue in the cheek poke at all those people, who points fingers at Bitcoin for being the culprit and those who are saying Bitcoin is the primary tool for criminals to do their business online.
Can you smell the bullshit in their statements? The numbers just do not match up, with what they are saying.
http://dcebrief.com/digital-currency-for-commerce-or-criminals/
Yup, and the internet is for criminals. Every new technoligcal advance is usually used by criminals to circumvent the judicial system, the media is pretty sad at reporting facts and spin things to feed the emotions of their readers. Technology is not necessarily bad, what we do with it can be.
I kinda agree/disagree with you, as bitcoin has grown a lot lately and became stronger currency than USD and EU, what makes us think BTC is for criminals is because its between people (P2P) not governed by governments , so all your transaction you do are pretty much anonymous and its hard to track you down which makes a preferable currency for criminals , in other hand there is a lot good websites you can make BTC from it and invest it and use it online , there are a lot of stores online nowadays that accept BTC payment.
Every thing has a positive and a negative side. So as bitcoin. I completely agree that bitcoin is being used by many drug dealers but there are lot of general people who also use bitcoin. and they use it for investment only. They don't buy drugs using bitcoin.
So don't think that due to some criminals, bitcoin will become the money for criminals. They are just a small percentage of total bitcoin users.
So don't think that due to some criminals, bitcoin will become the money for criminals. They are just a small percentage of total bitcoin users.
you don't know that. and actually the criminals are still using fiat for everything they do. for example the recent news about kickass torrent owner, he was using fiat and bank account to receive the money from their advertisers and they only had a bitcoin address for donations from users that is all the bitcoin usage they got.
Actualy yeah I do not know for sure, the above is only one of my opinion.Yeah I also know that not all criminals using bitcoin, even criminal not only using bitcoin but they also use fiat, as you say
about the technology of bitcoin can just, for example, can make anonymously for themselves, it's will become a different value for bitcoin in their eyes. the technology has become one of some important reason for them is wanna using a bitcoin.
I think the advancement of technology is not the reason the criminals using bitcoin. But I think they consider bitcoin is a transaction that can not be tracked and secure. But I think it's wrong, bitcoin can still be tracked if you make it traceable in other words if there is human error, and the authorities could take advantage of it.you don't know that. and actually the criminals are still using fiat for everything they do. for example the recent news about kickass torrent owner, he was using fiat and bank account to receive the money from their advertisers and they only had a bitcoin address for donations from users that is all the bitcoin usage they got.
about the technology of bitcoin can just, for example, can make anonymously for themselves, it's will become a different value for bitcoin in their eyes. the technology has become one of some important reason for them is wanna using a bitcoin.
I think the advancement of technology is not the reason the criminals using bitcoin. But I think they consider bitcoin is a transaction that can not be tracked and secure. But I think it's wrong, bitcoin can still be tracked if you make it traceable in other words if there is human error, and the authorities could take advantage of it. 
This is funny. Actually, USD/EUR is used for illegal activities every day, you could exchange those fiats to BTC after to avoid seizure, but I don't think criminals would prefer BTC than fiat for payments.
This. Totally.But OP, what do you mean "where is all the money" from these illegal activities? How would you know what's being used for what? You know damn well bitcoin is used on dark markets and by hackers. If you can argue against that, I'm all ears. The whole Silk Road thing? That was real, and it was a lot of bitcoin there. The bitcoin transactions are totally dwarfed by fiat cash ones, but they're still significant. And real.
Actually criminals have never been interested in the bitcoin technology by itself, but in alternative ways to move their money, no matter if it is worth of bitcoin, dollars, euros, gold, etc.
about the technology of bitcoin can just, for example, can make anonymously for themselves, it's will become a different value for bitcoin in their eyes. the technology has become one of some important reason for them is wanna using a bitcoin. 
If prefer, of course criminals will prefer btc. But for purpose, btc purpose is not for criminal. Its for everyone, why they blame btc for that illegal thing. Fiat also use in illegal then why didnt bame fiat as well. Its for everyone and can be use both by criminals and not.
actually the criminals prefer USD a lot more than they prefer using bitcoin. because they are not tech savy at all and like any other average joe have no idea how to use bitcoin so they don't and they continue sticking with fiat.
If prefer, of course criminals will prefer btc. But for purpose, btc purpose is not for criminal. Its for everyone, why they blame btc for that illegal thing. Fiat also use in illegal then why didnt bame fiat as well. Its for everyone and can be use both by criminals and not.
LOL, bitcoin is capped at 13.73B preev rate and they claim 100+B? Now that's just funny. Besides, we might as well call valve and microsoft guilty by association/money laundering now right?
Actually criminals have never been interested in the bitcoin technology by itself, but in alternative ways to move their money, no matter if it is worth of bitcoin, dollars, euros, gold, etc.
But it is well known that the dominant system will do everything possible to discredit the bitcoin.
But it is well known that the dominant system will do everything possible to discredit the bitcoin.
They choose the best tools available, and there is no doubt that Bitcoin is amongst the best.
If I do illegal transactions and I need anonymity and quickness and stuff, of course I will use bitcoin.
You would not find any better.
Actually criminals have never been interested in the bitcoin technology by itself, but in alternative ways to move their money, no matter if it is worth of bitcoin, dollars, euros, gold, etc.
But it is well known that the dominant system will do everything possible to discredit the bitcoin.
But it is well known that the dominant system will do everything possible to discredit the bitcoin.
They choose the best tools available, and there is no doubt that Bitcoin is amongst the best.
If I do illegal transactions and I need anonymity and quickness and stuff, of course I will use bitcoin.
You would not find any better.
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