Yeah I think that any money can be used to both legal and illegal,
It is just that the bitcoin is a lot more easier to use in some illegal stuff since the user is being anonymous.
Topic: Bitcoin: Paying with the cryptocurrency - page 2. (Read 1611 times)
Usage wise, it's almost the same as fiat: you can buy goods legal or illicit, trade them for other currency, pay your bills and whatnot. It's not entirely on how people use it since it can be used for almost the same reasons. There's not much difference apart from how it was minted and regulated and how to store/keep it. As a currency, bitcoin does it's role and quite a lot more compared to its fiat counterpart.
This bad reputation build up for bitcoin was due to mainly first use of bitcoin was on silk route and after when it got disclosed to public and some major technical users started to use it as digital source of money to earn and now the popularity has gone so high that it is getting compared to fiat currency,
As my all users above have given clear view that using of bitcoin in legal or illegal way is on the choice of the bitcoin users and that we cannot stop it just like fiat currency users are also using the fiat currency as legal and illegal way. Only the time will tell the real story of Bitcoin future.
As my all users above have given clear view that using of bitcoin in legal or illegal way is on the choice of the bitcoin users and that we cannot stop it just like fiat currency users are also using the fiat currency as legal and illegal way. Only the time will tell the real story of Bitcoin future.
the difference is bitcoin is decentralized but fiat is not. you can't dare to call USD an illegal funding currency even if it is the most used currency for illegal activities.
but for bitcoin it is enough to see a small portion of usage to be illegal and the media will go nuts.
but for bitcoin it is enough to see a small portion of usage to be illegal and the media will go nuts.
I think, bitcoin is always used to be illegal for some people. well, and I think it is a natural thing. bitcoin, or cryptocurrency very difficult in the transaction has gone well, and make people think to run a business. whether it be a business legal, or illegal. but, mostly in the dark web, bitcoin is used as a means of transaction for illegal items.
Bitcoin is stepping in the same footsteps as the internet in the early years. Most people were saying the internet will only be used for porn and
criminal uses like money laundering and also to buy drugs. Most of that was true, but lately things have changed a lot, because most applications
on the internet are for legal things.
.... Soon people will realize that Bitcoin can be used for much more than paying for porn and buying
drugs.
criminal uses like money laundering and also to buy drugs. Most of that was true, but lately things have changed a lot, because most applications
on the internet are for legal things.
.... Soon people will realize that Bitcoin can be used for much more than paying for porn and buying drugs.
So? People are using USD and EUR to buy drugs and illegal guns. People are using USD and EUR for crimes, assassinations and so on. Why is Bitcoin so different? It's not, it's just the same thing but the difference is that it's anonymous and of course the governors will NEVER agree with it.
Governments are crying about cryptocurrency being used as money laundering too, payment method for the black markets.
But they are turning blind eye to fiat exploits. Cash, paper money was used to fuel illegal activities for hundreds of years.
When people are using state issued money to buy drugs or illicit goods, it is perfectly fine, because government will profit anyway.
But they are turning blind eye to fiat exploits. Cash, paper money was used to fuel illegal activities for hundreds of years.
When people are using state issued money to buy drugs or illicit goods, it is perfectly fine, because government will profit anyway.
? Isnt Bitcoin actively used to buy illegal stuff more than being used in legal stuff? How large are the transactions in the whole darknet marketplaces combined right now and at what rate is it growing yearly? I think it comprises around 70% of the Bitcoin economy, while the users who use it for legal items have their coins tucked in their wallets doing nothing.
No it's way lower than that. You can look at the total Bitcoin network daily volume and then compare it with public data share by large companies like Bitpay and Coinbase where people are using it for payouts as well as purchasing goods and it is definitely the majority now. It definitely is the main currency used on darknet markets but I don't think that use case is anywhere near the majority anymore. Think about the last major exit scam and how much it affected the market, if it was 70% the price would have dropped significantly more.
? Isnt Bitcoin actively used to buy illegal stuff more than being used in legal stuff? How large are the transactions in the whole darknet marketplaces combined right now and at what rate is it growing yearly? I think it comprises around 70% of the Bitcoin economy, while the users who use it for legal items have their coins tucked in their wallets doing nothing.
It's usually illegal activity that is forced to innovate first. Think about it, criminals are usually participating in a market that has higher friction than any other. They have to constantly innovate to prevent themselves from getting caught! It is unfortunate that so many people only correlate Bitcoin with negative thing because of it though.
you're right, while most of Bitcoin users legally, some people still use Bitcoin to do wrong. we can not affirm all uses of Bitcoin. everything always has its dark side, and Bitcoin too.
Thats the cause.Bitcoins are currency wether it is online or not.So users has the choice from where they would like to spend in their bitcoins.If they want to spend it to illegal things like drugs,prostitution,and other illegal things that can be paid using bitcoins then its their choice its them who will face problem in near future,
Some people use bitcoin to buy illegal stuff, the majority of people use bitcoin on legal things.
Some people use paper cash to buy illegal stuff, the majority people use paper cash on legal things.
Bitcoin is just a currency. How it is used is a different story.
In this piece, bitcoin being a currency and it being used to buy illegal stuff seem like the same story:
http://www.dw.com/en/bitcoin-paying-with-the-cryptocurrency/av-37536803
Some people use paper cash to buy illegal stuff, the majority people use paper cash on legal things.
Bitcoin is just a currency. How it is used is a different story.
In this piece, bitcoin being a currency and it being used to buy illegal stuff seem like the same story:
http://www.dw.com/en/bitcoin-paying-with-the-cryptocurrency/av-37536803
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