Bitcoin not the choice of criminals anymore

Pattart

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Quote from: maarx on September 28, 2018, 02:46:08 PM

Many countries allowed their people to use bitcoin with some rules and regulations. This is to avoid illegal activities of using bitcoin. I would say, I it's one of the best platforms to convert the black money into white money. This leads to another criminal activities.

Then do you think every government should ban their people from using bitcoin? lol. it is not a solution but a government dictatorship
and failure to seek mutual benefits, in my opinion there is a middle ground to this, namely regulation..

St4yInTh3D4rk

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Quote from: Seeker#9 on October 07, 2018, 04:36:39 AM

This is one of the reasons why some governments are imposing regulations on cryptocurrency exchanges because some lawless elements particularly in the online world are using bitcoins in their illegal activities. With the intensified monitoring and tracking by authorities that involves in anti cyber crime operation, many cyber crimes can be prevented successfully. Some FUDsters have been spreading fake news on the use of bitcoin by some criminals to make bitcoin as a bad cryptocurrency.

Darkweb is the place where most of the bitcoin transactions taken place,we need to agree that but the governments intention of regulating the crypto currencies just to make revenues that's all they are not interested in preventing those criminals because 10 years back they have full control over the money but did any country have crime free? So governments can't control the criminals because of the corruption.

DeadCoin

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I would say IT IS one of main platform for criminals to have transactions. Criminals are just hiding. Now they are educated and found routes to have decent steal like hacking. It's hard to stop them. Not where money is much circulated, there criminals be there to do their job religiously. No surprise though.

Seeker#9

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This is one of the reasons why some governments are imposing regulations on cryptocurrency exchanges because some lawless elements particularly in the online world are using bitcoins in their illegal activities. With the intensified monitoring and tracking by authorities that involves in anti cyber crime operation, many cyber crimes can be prevented successfully. Some FUDsters have been spreading fake news on the use of bitcoin by some criminals to make bitcoin as a bad cryptocurrency.

KrishaBitcoin

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Quote from: FXTradingPro on August 12, 2018, 05:18:07 PM

BTC us getting a much-improved image as US law enforcement acknowledges that BTC criminal use has declined dramatically.

https://forexmarketslive.com/bitcoin-not-the-choice-of-criminals-anymore/

Yes this is true that most of the bad guys are avoiding the use of Bitcoin in their self interest agendas but some time i wonder if this is will favor us or not because we all knows that these bad guys are Bitcoin holders before in which they help to increase the real demand of this investment but just in illegal ways.

maarx

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Many countries allowed their people to use bitcoin with some rules and regulations. This is to avoid illegal activities of using bitcoin. I would say, I it's one of the best platforms to convert the black money into white money. This leads to another criminal activities.

St4yInTh3D4rk

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Quote from: sambel90129 on September 26, 2018, 08:37:16 PM

many countries are starting to collect data on bitcoin ownership, and many law enforcers have begun to validate blockchain by following all records that record each transaction up to the first transaction of satosi nakamoto the creator of bitcoin, so the perpetrators will certainly think again if they want to hide their money in bitcoin , and they will also think that transacting through bitcoin is very transparent, so how can bitcoin be the choice of criminals? ... unless a stupid villain ... Grin

Bitcoin transactions can be traced but if we don't know the address of the user then it may be impossible to identify the users,I am not saying that bitcoin is used by criminals only but still it can be the choice of the people who want to make crimes like the hackers who want the payments in bitcoin for the ransomware attack and it will be hard to trace them once they got the bitcoins.

sambel90129

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many countries are starting to collect data on bitcoin ownership, and many law enforcers have begun to validate blockchain by following all records that record each transaction up to the first transaction of satosi nakamoto the creator of bitcoin, so the perpetrators will certainly think again if they want to hide their money in bitcoin , and they will also think that transacting through bitcoin is very transparent, so how can bitcoin be the choice of criminals? ... unless a stupid villain ... Grin

1NV3ST0NM3

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Quote from: Flor1982 on August 13, 2018, 01:35:43 AM

Quote from: FXTradingPro on August 12, 2018, 05:18:07 PM

BTC us getting a much-improved image as US law enforcement acknowledges that BTC criminal use has declined dramatically.

https://forexmarketslive.com/bitcoin-not-the-choice-of-criminals-anymore/

Well, this is possible to happen because most of the nations are now creating and improving their regulations policies to ensure that Bitcoin currency will not be use in illegal activities which is really very effective. KYC alone although a difficult task but its proven effective in which people background can now be identified. I believed this is the reason too on why the demand of Bitcoin and the crypro currency is reducing because some of it are formerly owns by the illegal people.

KYC norms however strictly implemented cannot eliminate the dark use of bitcoin absolutely from the scene. Criminals everywhere may find a way out to give fuel to their selfish motives. In fact, criminals lately have been using the crypto market in abundance of their transactions because no responsibility can be fixed here and it is easy to escape from the responsibilities.

Well as the facts n figures suggest that the use of the bitcoin on this side has considerably declined, then it is surely a positive kick start to a better crypto world. Let's just hope the situations stay well in control!

buwaytress

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And then every now and then we get idiots given undue prominence for their research. Financial analysts they may be, but to use the really tired thread of Bitcoin = crime: http://www.atimes.com/article/north-korea-succesfully-using-cryptos-to-evade-us-sanctions/

Here's the quote from the latest experts to surface: “International criminals everywhere prefer crypto-currencies and the DPRK is no exception."

Since when did getting around the restrictions of bullies become a crime anyway? You starve a nation, cut it off from the rest of the world and impose impossible rules on them, you expect them to just sit still and smile? If there are any monsters, they were created by this systematic dehumanisation of countries like these..

Tigorss

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Quote from: FXTradingPro on August 12, 2018, 05:18:07 PM

BTC us getting a much-improved image as US law enforcement acknowledges that BTC criminal use has declined dramatically.

https://forexmarketslive.com/bitcoin-not-the-choice-of-criminals-anymore/

I hope this can be a start for bitcoin to be accepted and many people can start to learn and believe that crypto currency is more efficient and simpler to be use.

ningrumxxi

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Quote from: loyoung on August 13, 2018, 08:29:09 AM

Perfect!!!

I hope this can open the eyes of the world and become a cause of widespread acceptance of bitcoin by various countries.

The problem may be in every country starting to implement a strict regulatory system, and with blockchain systems it is easier for law enforcement agencies to track the flow of crime funds that flow where and will make it harder for criminals to hide money from their crimes, because blockchain records the movement of bitcoin anywhere in the world, this is why crime is difficult to use bitcoin.

deppil

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Quote from: ?? on ??

Surely it is not.
Nicely explained by everyone in top.
I hope this can open the eyes of the world and become a cause of widespread acceptance of bitcoin by various countries.

If the government can control crypto users then there will be no more criminals and illegal transactions in cryptocurrecy but of course that will eliminate the decentralization in crypto right? first it will be difficult to do because in what way does crypto be centralized? secondly if decentralization can be lost, the user will be less interested

DavidNiva

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Quote from: Lancusters on August 15, 2018, 11:44:47 AM

I have never seen examples of criminals often using bitcoin for criminal purposes. I think they were just fakes. Now, when the popularity of cryptocurrencies has sharply decreased, these fakes do not make sense and they are no longer supported and distributed.

criminals transact using bitcoin is a stupid thing, because every transaction is recorded on the blockchain, it becomes very transparent, do criminals want to do something like that? using an issue like this might only aim to block the rate of bitcoin and to drop the value of bitcoin, but we can see the rate of bitcoin where it can't be blocked, let alone stop,

chickenado

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Quote from: DavidNiva on September 19, 2018, 08:58:38 PM

Quote from: izanagi narukami on August 16, 2018, 02:24:45 AM

It's reasonable since bitcoin value still volatile until now, more government against cryptocurrency as they are not going to legalize it anymore.

Meanwhile my government still optimistic that cryptocurrency still can be the advantage for our criminal because it can be use for corruptor to cover their transaction track record !

in a country that has a lot of corruptors, the ownership of bitcoin is a priority scale in the supervision of law enforcement, for now it is not an option to save money in the form of bitcoin, maybe in the future there will be certain regulations for businesses not to abuse the convenience of the currency features krypto, to do business that violates the law.

Every currency can be used in some criminals activities, in cryptocurrency form or in fiat because we don't have control over it criminal mind is always look for an opportunity to do illegal activities all form currency js no exception,so don't be bother with this issue.because money is a source of evil.

deisik

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English ⬄ Russian Translation Services

Quote from: DavidNiva on September 19, 2018, 08:58:38 PM

Quote from: izanagi narukami on August 16, 2018, 02:24:45 AM

It's reasonable since bitcoin value still volatile until now, more government against cryptocurrency as they are not going to legalize it anymore.

Meanwhile my government still optimistic that cryptocurrency still can be the advantage for our criminal because it can be use for corruptor to cover their transaction track record !

in a country that has a lot of corruptors, the ownership of bitcoin is a priority scale in the supervision of law enforcement, for now it is not an option to save money in the form of bitcoin, maybe in the future there will be certain regulations for businesses not to abuse the convenience of the currency features krypto, to do business that violates the law.

Why do you think it is not an option?

In corrupted countries even the corrupted will be using means of evading law enforcement (which is also corrupted, by definition), and in this department Bitcoin feels pretty good when compared to keeping naked fiat. Yes, it is volatile (but things may have changed already), but unlike gold (another option), it is not such pain in the ass and doesn't take a lot to hide it almost without trace. In fact, Bitcoin is totally legit (I mean justified) for saving, especially if your goal is actually to save your wealth, not to multiply it, and you are ready to pay a certain fee or percentage for that. Here I mean what you may have to pay for hedging against volatility. On the other hand, you can employ volatility to your advantage if you choose so, and then you won't have to pay anything and can even earn a little

DavidNiva

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Quote from: izanagi narukami on August 16, 2018, 02:24:45 AM

It's reasonable since bitcoin value still volatile until now, more government against cryptocurrency as they are not going to legalize it anymore.

Meanwhile my government still optimistic that cryptocurrency still can be the advantage for our criminal because it can be use for corruptor to cover their transaction track record !

in a country that has a lot of corruptors, the ownership of bitcoin is a priority scale in the supervision of law enforcement, for now it is not an option to save money in the form of bitcoin, maybe in the future there will be certain regulations for businesses not to abuse the convenience of the currency features krypto, to do business that violates the law.

deisik

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Quote from: carlfebz2 on September 18, 2018, 12:40:06 PM

Quote from: deisik on September 17, 2018, 08:59:11 AM

Quote from: Argoo on September 16, 2018, 09:09:52 PM

Quote from: FXTradingPro on August 12, 2018, 05:18:07 PM

BTC us getting a much-improved image as US law enforcement acknowledges that BTC criminal use has declined dramatically.

https://forexmarketslive.com/bitcoin-not-the-choice-of-criminals-anymore/

A new study recently conducted in the European Union showed that bitcoin is used with an illegal target in just 0.67 percent of cases. That is, the whole problem with the illegal use of bitcoin is in fact far-fetched. For various illegal purposes, coins with a higher degree of anonymity are used, such as Monero, ZCash and others. Bitcoin is only relatively anonymous.

And this problem was far-fetched and contrived right from the start. Satoshi himself never considered Bitcoin anonymous and untraceable as he uses the term “anonymous” only in reference to public keys in his WP. In fact, the Bitcoin blockchain, the so-called "public ledger", is a perfect tool for forensic analysis. First Bitcoin users like those unbanked from Silk Road and other similar DarkWeb markets may have been too optimistic in this regard and got caught in the end when their transactions had been properly analyzed and scrutinized. And I don't think other coins are totally safe either

As only time will tell if they are truly secure and anonymous in practice

I do even believe that those criminals are truly aware that bitcoin isn't really anonymous on the very first place no matter how they do trust up this coin on earlier days or years since they don't really have any choice which one to use on that time except fiat itself they do know the difference so they do make use of it which its really inevitable but the years goes by if we do really clearly look and investigate I don't know why people do really say about anonymity yet all transactions can be seen on public ledger.

I see your point, and it may well be the case

With that said though, I can't agree that they didn't have a choice, at least not in the sense you mean, and yes, I understand what you mean. While Bitcoin is not anonymous "out of the box", you can still heavily obfuscate its usage and massively impede tracing down transactions to their real sources. Although there were no Bitcoin mixers back then (as far as I know), you could still achieve pretty much the same effect manually. The bottom line is that if those Silk Road criminals knew what had been awaiting them, I think they would have avoided the consequences of their negligence in questions of safety and security, if not fully but still enough to get away mostly unscathed

carlfebz2

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Quote from: deisik on September 17, 2018, 08:59:11 AM

Quote from: Argoo on September 16, 2018, 09:09:52 PM

Quote from: FXTradingPro on August 12, 2018, 05:18:07 PM

BTC us getting a much-improved image as US law enforcement acknowledges that BTC criminal use has declined dramatically.

https://forexmarketslive.com/bitcoin-not-the-choice-of-criminals-anymore/

A new study recently conducted in the European Union showed that bitcoin is used with an illegal target in just 0.67 percent of cases. That is, the whole problem with the illegal use of bitcoin is in fact far-fetched. For various illegal purposes, coins with a higher degree of anonymity are used, such as Monero, ZCash and others. Bitcoin is only relatively anonymous.

And this problem was far-fetched and contrived right from the start. Satoshi himself never considered Bitcoin anonymous and untraceable as he uses the term “anonymous” only in reference to public keys in his WP. In fact, the Bitcoin blockchain, the so-called "public ledger", is a perfect tool for forensic analysis. First Bitcoin users like those unbanked from Silk Road and other similar DarkWeb markets may have been too optimistic in this regard and got caught in the end when their transactions had been properly analyzed and scrutinized. And I don't think other coins are totally safe either

As only time will tell if they are truly secure and anonymous in practice

I do even believe that those criminals are truly aware that bitcoin isn't really anonymous on the very first place no matter how they do trust up this coin on earlier days or years since they don't really have any choice which one to use on that time except fiat itself they do know the difference so they do make use of it which its really inevitable but the years goes by if we do really clearly look and investigate I don't know why people do really say about anonymity yet all transactions can be seen on public ledger.

nastyagav

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Really? Confirmed?
Huh

Topic: Bitcoin not the choice of criminals anymore (Read 1834 times)