Bitcoin on Drug Trade | Bitcointalksearch.org

gabmen

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Quote from: CrownPolly on September 02, 2017, 09:30:50 AM

Quote from: joebrook on September 02, 2017, 07:52:30 AM

Quote from: Alpha0One1 on September 02, 2017, 02:07:39 AM

Immaterial at all. FIAT is used for illegal transactions even prior to bitcoin being invented.

Since bitcoin/alts are sort of a currency, then it will be used for illegal transactions as well.

That's absolutely true, you can't blame bitcoin for the surge in drug trade, Its just that now its far easier to launder money with bitcoin than laundering the actual cash but still people do launder money even without bitcoins. Even when bitcoins is gone they are still going to do it.

Scammers will always find a way to launder money or anonymously sell drugs. And it does not matter what they will use - crypto currency or cash.
Currency - it's just an instrument

Well you're and it's a more convenient way for these people to do their trades which is quite sad. As much as bitcoin can better the lives of proper living citizens ,it can also better transactions for illegal activities such as drug cartels and syndicates

CrownPolly

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Quote from: joebrook on September 02, 2017, 07:52:30 AM

Quote from: Alpha0One1 on September 02, 2017, 02:07:39 AM

Immaterial at all. FIAT is used for illegal transactions even prior to bitcoin being invented.

Since bitcoin/alts are sort of a currency, then it will be used for illegal transactions as well.

That's absolutely true, you can't blame bitcoin for the surge in drug trade, Its just that now its far easier to launder money with bitcoin than laundering the actual cash but still people do launder money even without bitcoins. Even when bitcoins is gone they are still going to do it.

Scammers will always find a way to launder money or anonymously sell drugs. And it does not matter what they will use - crypto currency or cash.
Currency - it's just an instrument

joebrook

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Quote from: Alpha0One1 on September 02, 2017, 02:07:39 AM

Immaterial at all. FIAT is used for illegal transactions even prior to bitcoin being invented.

Since bitcoin/alts are sort of a currency, then it will be used for illegal transactions as well.

That's absolutely true, you can't blame bitcoin for the surge in drug trade, Its just that now its far easier to launder money with bitcoin than laundering the actual cash but still people do launder money even without bitcoins. Even when bitcoins is gone they are still going to do it.

Zeeks

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With all darkmarkets disappearing, I think it's safe to say some anon coin will step up and take over the drug trade.

Vika0170

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I do not think that using bitcoin when selling drugs is safer than cash when meeting. The bitcoin transaction can be tracked on the Internet, but the transfer of cash in the suitcase will be much more difficult to track.

Alpha0One1

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Immaterial at all. FIAT is used for illegal transactions even prior to bitcoin being invented.

Since bitcoin/alts are sort of a currency, then it will be used for illegal transactions as well.

Sithara007

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Quote from: Michhotdog on August 31, 2017, 07:49:02 AM

Any currency and even gold can be used when trading in narcotics. Unfortunately, nothing can be done about this since they are of great value and are used for calculations.

Most of the time, it is physical cash which is the medium of payment for drugs. Because physical cash is more anonymous than Bitcoins. EUR 500 banknotes are the preferred medium of drugs payment in the European Union. And that is the reason why the law enforcement authorities want the governments to ban high denomination banknotes.

Michhotdog

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Any currency and even gold can be used when trading in narcotics. Unfortunately, nothing can be done about this since they are of great value and are used for calculations.

lahje

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this is how i got into bitcoin Cheesy

bought some weed with 15 btc, no regrets (that was around 2012-2013). we dont rly know anything about satoshi, he could be some CIA person IRL or drug cartle boss or... CIA does the most of drug deals worldwide so...

mothergodness

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Quote from: coinholic on August 18, 2017, 07:19:30 PM

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

I think that it was worth expecting. Much to our regret the problem of drugs in any case sooner or later would have touched bitcoin.

lonelygrimm

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Yeah i agree with you

Even before popular like now, bitcoin was a daily use for drug user, and now it's spread everywhere, of course big criminals will join too. Like young politcians who know tech update will use this chance to corrupt some gov money, who can trace them ? or some investors for terrorists ?

REMEMBER !!!
not only bitcoin, but all cryptocoins have a same possibility to use for bad things now.

Douglasyukanov

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Quote from: coinholic on August 18, 2017, 07:19:30 PM

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

it may happen, it is possible about the use of bitcoin in drug transactions, because bitcoin is a currency that can already be used in various countries and safe to use.
in the meantime, there is no standard rule on the use of bitcoin, there has been no state government intervention about bitcoin and perhaps some countries are studying about bitcoin in order to set rules of use.

wowanstrong

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Of course, de bitcoin is used in the drug trade as it is a currency, but elites can use other methods of payment. Drug trafficking has appeared much earlier bitcoin and it will exist even if bitcoin disappears.

gaming-stars

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In Germany, there was the founder of shiny flakes arrested two years or so ago. They found a few hundred kilos of drugs in his room at his parent's house.

He was 20 years or so and was sentenced to 6 years or something like that. He will be out next year.

I read that the police knows he has hidden Bitcoins worth millions but they can not find it. All of us know that Bitcoin is worth 5 times more now than two years ago...

He is a multi-millionaire and probably made more money with holding Bitcoins than with drug trading.

I am sure he is not the only guy...

Drug cartels for sure use Bitcoins to hide and transfer money because of all the advantages!

Al Capone would have Bitcoins if he had lived now :-)))

matuson

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Bitcoin is the usual currency. Why not use it to purchase illegal goods? Before bitcoin it was impossible to buy drugs? Or nobody can do it for any currency in the world? Bitcoin is only a measure of the price, and everything else depends on people.

bbcolex

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Bitcoin now is not that safe for dark trade like drugs. Better use other crypto like dash or monero , that's why dark web prefer now other alt coin than BTC cause it can be easily tracked!

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Quote from: coinholic on August 18, 2017, 07:19:30 PM

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

I think this is possible, because transactions through cryptocurrency leave no trace, it's safer for drug syndicates to transact through it. It's faster and safer so I think it's more convenient for them to use bitcoin for most of their transactions. Compared to using banks or transferring fiat money from people to people, they would avoid being caught.

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Quote from: BigTeeths on August 29, 2017, 09:51:08 PM

It can really happen. Drug traders are pursued by authorities so they will use an alternative just to continue their illegal activities. This is actually not surprising.

While using the dark markets, there are no intermediaries between the drug seller and the drug user. But that is not the case when you purchase drugs from the street. Multiple intermediaries are involved.

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Quote from: memyselfandi on August 29, 2017, 08:50:24 AM

Yes it is possible specially Bitcoins is now world wide. But I wish it will not come to the point that bitcoin is related into illegal activities. Activities that will hurt somebody. Lets not abuse this kind of opportunity because we did not know until when this bitcoin will exist.

its the users responsibilities mate and we cant avoid things like this to happen even criminals is more advanced than regular bitcoiners so just be prepared just incase things happen and always remember that bitcoin is not exempted since its accepted as a currency it will use in any transaction which involved money.

BigTeeths

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It can really happen. Drug traders are pursued by authorities so they will use an alternative just to continue their illegal activities. This is actually not surprising.

Topic: Bitcoin on Drug Trade (Read 1797 times)