Bitcoin usage in crime activity. | Bitcointalksearch.org

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Quote from: crypticj on April 01, 2023, 08:28:10 PM

So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?

I think one solution to this problem is the global regulation that gives governments control over the data of all addresses and transactions, but this action doesn't look recommended for most of the Bitcoin community, because it hurts the privacy and anonymity that gives Bitcoin and other crypto currencies the advantage. If Bitcoin was regulated globally, it would look like any other payment system throughout the world. Indeed, some exchanges like Coinbase and Binance are forced to share their data with the American government. This facilitated the seizing of stolen money in some cases.
Another solution, the biggest players in crypto collaborate and organize a protocol that gets rid of illegal activities, and at the same time protects the privacy of users. However, we can't imagine a full disappearance of illegal activities in which crypto is used as a means of payment, because the thieves or scammers can move to using technologies like Monero or Zcash.

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Honestly, it’s even safer to use bitcoin knowing it’s decentralized and the anonymity is high, unlike using centralized fiat that you are often monitored by the government. But with regards to bitcoin as a source of crimes, I don’t think it’s highly possible since fiat is the one that is abused by majority and people do commit crimes most particularly for the sake of fiat.

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Quote from: jostorres on April 04, 2023, 01:56:09 AM

Quote from: crypticj on April 01, 2023, 08:28:10 PM

The problem here is that the system should have some way to fight these criminals because we don't want bitcoin to be associated with drugs and sex trafficking, but the problem is, by solving these problems we should get rid of anonymity which is a pillar for the bitcoin technology, so it can't be done. And this problem might be a big obstacle in mass bitcoin adoption and regulations that are coming.

Almost every single currency or asset that exists in the world is used somewhere in a criminal or bad activity, and that doesn't really make much of a difference as those using it are the ones who are bad and not the currency or asset that is being used. People used to think Bitcoin is a currency used only in criminal activities some years ago, but did that stop Bitcoin from becoming famous or proving everyone wrong? No.

So no matter how hard a certain group of people or authorities try to convey it so that it looks bad and people stay away from it, it will become more and more popular and people will start using it more. So we don't really need to worry about that thing.

True. As long as the government is against bitcoin, it will always be a bad currency for them, even involving bitcoin indirectly in criminal activities and scams which I think fiat is also not free about it. I guess no matter what currency it is, as long as it create conflict on fiat, then it will always be the bad one. So the thing is, we just have to get used about it, as negative criticisms will only make bitcoin more popular and will never lessen its effectivity, though global adoption might also being threaten about it.

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Quote from: Ayers on April 09, 2023, 09:35:47 AM

Once you use the KYC process, it is never called decentralized, and we don't need to come up with any solution in this case. Why are people always afraid about bitcoin being used by criminals will make bitcoin bad or not good? Don't forget that before bitcoin was born, criminals used fiat money, gold... all other assets for their crimes. Why don't we find a solution to those things but blame bitcoin? If you want that to stop, you don't need to find a solution for bitcoin, instead, tell the government to find a way to kill the criminals because it's their responsibility.

Because the government wants to control everything, and the appeal to fight crime is just a convenient rationale for a campaign to increase control over anything. Demonize bitcoin by saying that it can be used by criminals and keep quiet about how a small percentage of criminal money chooses to use bitcoin over fiat currencies. And that's it, you can ban and restrict bitcoin, increasing control over everything.

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Quote from: worldofcoins on April 09, 2023, 05:32:41 AM

Quote from: crypticj on April 01, 2023, 08:28:10 PM

So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?

The issue of illegal use of Bitcoin is indeed a challenge that the cryptocurrency community faces, and it's essential to address it to ensure wider adoption and legitimacy of Bitcoin. One possible solution to this problem is using blockchain analytics tools that can help track illicit transactions and identify the individuals involved. The second possible solution could be developing decentralized exchanges with robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures in place. But his should be taken seriously.

Once you use the KYC process, it is never called decentralized, and we don't need to come up with any solution in this case. Why are people always afraid about bitcoin being used by criminals will make bitcoin bad or not good? Don't forget that before bitcoin was born, criminals used fiat money, gold... all other assets for their crimes. Why don't we find a solution to those things but blame bitcoin? If you want that to stop, you don't need to find a solution for bitcoin, instead, tell the government to find a way to kill the criminals because it's their responsibility.

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The illegal use of the dollar is just too much.
Lets outlaw the $

Instead of doctoring on symptoms we should eradicate the disease

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Quote from: crypticj on April 01, 2023, 08:28:10 PM

So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?

The issue of illegal use of Bitcoin is indeed a challenge that the cryptocurrency community faces, and it's essential to address it to ensure wider adoption and legitimacy of Bitcoin. One possible solution to this problem is using blockchain analytics tools that can help track illicit transactions and identify the individuals involved. The second possible solution could be developing decentralized exchanges with robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures in place. But his should be taken seriously.

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Quote from: justdimin on April 03, 2023, 01:48:04 PM

Quote from: CryptSafe on April 02, 2023, 07:45:02 PM

I really do not think it so. You see criminals always want a situation where by they would commit a crime and go Scott free without any trace which was why the increase in digital or cyber crime became something else since bitcoin supports anonymous transaction. Now casinos back then wanted a way where by people could patronize them without any trace of their identity hence their resolve to accepting bitcoin which made it popular amongst the gamblers and there was the major breakthrough bitcoin got them and it started to blossom and gradually because the talk of time. See OP, I am meant to understand that there are some scenarios in life that is needed so as to facilitate a process. However, bitcoin was able to passthrough this process so as to get that popular amongst the gamblers and firm there it was well known amongst them.
See OP, I have come to realize that most times, there are some certain things that do not really scale through when things are done the right way or the right process to get things done but when it goes through the iron furnace, the heat of the fire makes that something get the relevant desires. I just assume this that it was that way.

First of all bitcoin doesn't support anonymous transaction, you can follow it, so if someone steals from somewhere, usually that's tracked, even through mixers if it's a bad mixer as well, so it's a trouble. I have to say that it's not going to be a bit of a simple situation, it's a big deal and I think it's obvious that fiat is used a lot more no matter what.

Even if you "think" crypto is better for criminals to use, that doesn't change the reality that fiat is used a lot more, and I mean thousands of times more. Which is why you can't, or anyone else can't attack bitcoin or any crypto because it can be used in crimes, since fiat has been used so far anyway.

No one is in good faith arguing that Bitcoin is more complicit in criminal activity. I've quite literally only see government officials use this argument. Not even the private entities that were victim of crypto scams will blame Bitcoin for their loss. Almost always its lack of cyber security or human negligence.

Interestingly enough, Bitcoin is the easiest asset to track compared to paper cash, presumably why the government is so interested in limiting its use and push digitalized tokens instead. Criminals don't use legitimate accounts to store money, they'll launder under the guise of legitimate investments/assets.

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Quote from: crypticj on April 01, 2023, 08:28:10 PM

Hello crypto bros.
Today I want to discuss a pretty big problem that bitcoin adoption is facing.
Bitcoin is great in means of anonymous transactions and getting away from the banks and government control, but the problem is, it's the exact problem why criminals are using it. And it's a pretty big one. I'm not saying that criminals use bitcoin more than fiat, but we all can see that illegal services are widely accepting bitcoin.

The problem here is that the system should have some way to fight these criminals because we don't want bitcoin to be associated with drugs and sex trafficking, but the problem is, by solving these problems we should get rid of anonymity which is a pillar for the bitcoin technology, so it can't be done. And this problem might be a big obstacle in mass bitcoin adoption and regulations that are coming.

You know what? We have knives that we use for cutting fruits, vegetables, and many other useful things; well, some use it to kill others as well. Should knives be illegal? Who/which is the risky one here? The knife or the user? Make some sense dude when you say it's Bitcoin that is helping drugs, sex trafficking, etc. you acknowledged how fiat is helping all these more than how Bitcoin is.

Quote

So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?

Bitcoin transactions are transparent, not private. You can track most txs if you put effort and investment. There are a lot of on-chain analysis services. While the chance of tracking fiat is very much less than Bitcoin.

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Quote from: LastKiss on April 07, 2023, 06:13:49 AM

Quote from: crypticj on April 01, 2023, 08:28:10 PM

~snip~
So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?

Because there are a lot of criminal activities in cryptocurrencies that's why many users when using CEX mandatory to complete KYC to prevent any criminal activity. Since Bitcoin and cryptocurrencies are anonymous and easy to transfer to various countries making Bitcoin and cryptocurrencies as their ways to do their criminal activities.

It is true that many people get scammed by Bitcoin or cryptocurrency. But I will not blame Bitcoin or cryptocurrency here. Those, who do not manage bitcoins and cryptocurrencies properly. Improperly used, or handled. It is important to take action against them. Bitcoin and cryptocurrency clause to stop illegal activities. The Identify and Verify options are mandatory and very important

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Quote from: crypticj on April 01, 2023, 08:28:10 PM

Hello crypto bros.
Today I want to discuss a pretty big problem that bitcoin adoption is facing.
Bitcoin is great in means of anonymous transactions and getting away from the banks and government control, but the problem is, it's the exact problem why criminals are using it. And it's a pretty big one. I'm not saying that criminals use bitcoin more than fiat, but we all can see that illegal services are widely accepting bitcoin.

The problem here is that the system should have some way to fight these criminals because we don't want bitcoin to be associated with drugs and sex trafficking, but the problem is, by solving these problems we should get rid of anonymity which is a pillar for the bitcoin technology, so it can't be done. And this problem might be a big obstacle in mass bitcoin adoption and regulations that are coming.

So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?

There is no anonymity in a public ledger. You want anonymity? You deal with fiat. Cold hard cash. Thats anonymity.

Bitcoin is literally less anonymous than paper money. This comical rumor of Bitcoin being untraceable is a myth which is perpetrated by anti coiners who want to see BTC fail (It won't). As soon as you connect your identity to the exchange where you buy your Bitcoin, any Bitcoin transaction you make can be traced to you. So obviously its a misunderstanding. A lot of dark web drug dealers have been busted because they did not understand this. Also, ironically this is the reason why monero is now the golden standard for dark web criminal dealings.

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Quote from: Altryist on April 07, 2023, 11:16:09 AM

It's not the only tool used for criminal activity, but you're right, since governments don't have full control over it, they will press charges against it. And fiat is always involved in the corruption schemes, which we occasionally hear about, but no one talks about the shortcomings of this system.

There are many things that can be used for both good deeds and criminal activities, but in this case the problem is not in the tool itself, but in the people who commit crime.

The complete transparency of the bitcoin blockchain makes the work of fraudsters more difficult than it might seem. When they know that the fiat system is controlled by the state, they can simply use nominees to run their schemes and then it will be difficult to prove anything, and the fiat system is much more common and familiar than bitcoin. So it is obvious that scammers use fiat much more often and it is not very profitable for them to switch to bitcoin.

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Quote from: crypticj on April 01, 2023, 08:28:10 PM

Hello crypto bros.
Today I want to discuss a pretty big problem that bitcoin adoption is facing.
Bitcoin is great in means of anonymous transactions and getting away from the banks and government control, but the problem is, it's the exact problem why criminals are using it. And it's a pretty big one. I'm not saying that criminals use bitcoin more than fiat, but we all can see that illegal services are widely accepting bitcoin.

The problem here is that the system should have some way to fight these criminals because we don't want bitcoin to be associated with drugs and sex trafficking, but the problem is, by solving these problems we should get rid of anonymity which is a pillar for the bitcoin technology, so it can't be done. And this problem might be a big obstacle in mass bitcoin adoption and regulations that are coming.

So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?

Anonymity and also privacy protection are one of the advantages of bitcoin which is indeed attractive to criminals to make bitcoin a means of money laundering, and that is why many of the world's governments refuse to legalize it because it will make the criminals tracks disappear, I think with the decentralized nature of bitcoin seems to be difficult to stop crimes from happening unless the government implements strict regulations on bitcoin and even then it does not guarantee that money laundering will no longer occur, but to be honest, there are actually many ways that criminals can launder money and it is not appropriate blame bitcoin completely.

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Quote from: karmamiu on April 07, 2023, 07:16:23 AM

Same concept as to how people say that money is the root of all evil. A tool is a tool no matter how much you value or view that, it doesn't change the fact that it depends on the one using it to be able to call it something good or evil. Just because the government cannot hold its authority over it, we should just call it illegal or bad? Of course not, right? I do agree that people have different intentions and perspective, that is why it is possible that a certain tool can be used into something horrible. In regards of bitcoin or any other currencies whether they are centralized or not, crimes that are happening is already pretty common, and government doesn't have the rights to stop someone from using that, instead they can prohibit the usage since they are the ones controlling the law and rules on that country. Imagine them chasing and criticizing cryptocurrencies while right under their noses, corruption, smuggling and so many illegal activities happened in a broad daylight and at the same time using their own centralized currency.

It's not the only tool used for criminal activity, but you're right, since governments don't have full control over it, they will press charges against it. And fiat is always involved in the corruption schemes, which we occasionally hear about, but no one talks about the shortcomings of this system.

There are many things that can be used for both good deeds and criminal activities, but in this case the problem is not in the tool itself, but in the people who commit crime.

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Quote from: crypticj on April 01, 2023, 08:28:10 PM

So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?

We need more people with responsible usage of bitcoin in our society and in my estimation, it begins with us. We start by showing that despite all the ills that have been told about how bitcoin facilitates illegal activity(the silk road), there's still some good it does such as international money transfer and investments. I on my part think that the government is to be blamed partially for the criminal activities committed with bitcoin. If from the onset they had set out to understand rather than bastardize it, it they had set out to find a away it could co-exist with our fiat rather than cancel it, then criminal actors wouldn't hijack it for nefarious activities but then again so it is with the dollar, pounds, euro, yuan etc.

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Quote from: majeed on April 07, 2023, 06:08:17 AM

One idea could be to make a system that allows anonymous transactions but can still track illegal activity. Blockchain technology can make a public ledger of transactions that we can trace back to the source. That way, we can stop criminals from using Bitcoin to do shady things.

The blockchain technology has always been a public ledger that is open for anyone that is looking, and many people use centralized exchanges for their trading, which requires them to submit compulsory kyc, so many people who use BTC have lost their privacy because of that, and many addresses can be traced to real identities. Though criminals are very smart and they make sure they keep their identity secret by not using platforms that farm data. As long as there is a currency, it must be used by criminals, there is no way to stop criminals from using BTC, and that is surely not the concern of BTC developers.

Quote from: majeed on April 07, 2023, 06:08:17 AM

Another thought is to make some rules about Bitcoin and crime. We could make Bitcoin businesses put in measures like KYC and AML to make sure only the good guys are using the platform. To make Bitcoin "safer," we gotta find a balance between privacy and security. It's not easy, but it's gotta be done if we want Bitcoin to be a real currency.

Most crypto businesses have KYC and AML policies, because without it you cannot operate in many jurisdictions, but that was not a rule implemented by the BTC community, it is government policy. BTC is a censorship resistant and permissionless currency, there is no way to do what you are suggesting without breaking what BTC stands for, that is why there would always be decentralized exchanges for people who want to trade BTC in the right way.

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Quote from: gunhell16 on April 06, 2023, 06:44:11 PM

First of all, whatever the reason for the existence of Bitcoin, why it can never be controlled by any country's government because of the technology it has called blockchain technology.

And what you are saying in my opinion is also impossible, that's why Bitcoin is for everyone, it just depends on the purpose of the person who will hold Bitcoin if it is used for illegal things, and as you also mentioned we are really anonymous here and find out who owns the address.

Same concept as to how people say that money is the root of all evil. A tool is a tool no matter how much you value or view that, it doesn't change the fact that it depends on the one using it to be able to call it something good or evil. Just because the government cannot hold its authority over it, we should just call it illegal or bad? Of course not, right? I do agree that people have different intentions and perspective, that is why it is possible that a certain tool can be used into something horrible. In regards of bitcoin or any other currencies whether they are centralized or not, crimes that are happening is already pretty common, and government doesn't have the rights to stop someone from using that, instead they can prohibit the usage since they are the ones controlling the law and rules on that country. Imagine them chasing and criticizing cryptocurrencies while right under their noses, corruption, smuggling and so many illegal activities happened in a broad daylight and at the same time using their own centralized currency.

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Quote from: crypticj on April 01, 2023, 08:28:10 PM

~snip~
So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?

Because there are a lot of criminal activities in cryptocurrencies that's why many users when using CEX mandatory to complete KYC to prevent any criminal activity. Since Bitcoin and cryptocurrencies are anonymous and easy to transfer to various countries making Bitcoin and cryptocurrencies as their ways to do their criminal activities.

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Quote from: crypticj on April 01, 2023, 08:28:10 PM

Hello crypto bros.
Today I want to discuss a pretty big problem that bitcoin adoption is facing.
Bitcoin is great in means of anonymous transactions and getting away from the banks and government control, but the problem is, it's the exact problem why criminals are using it. And it's a pretty big one. I'm not saying that criminals use bitcoin more than fiat, but we all can see that illegal services are widely accepting bitcoin.

The problem here is that the system should have some way to fight these criminals because we don't want bitcoin to be associated with drugs and sex trafficking, but the problem is, by solving these problems we should get rid of anonymity which is a pillar for the bitcoin technology, so it can't be done. And this problem might be a big obstacle in mass bitcoin adoption and regulations that are coming.

So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?

As Bitcoin gets more popular, folks are getting more worried about its ties to criminal activity. Bitcoin's anonymity is cool, but it also attracts some unsavory characters. That's got us wondering how we can stop illegal stuff without losing the privacy and decentralized nature of the tech.

One idea could be to make a system that allows anonymous transactions but can still track illegal activity. Blockchain technology can make a public ledger of transactions that we can trace back to the source. That way, we can stop criminals from using Bitcoin to do shady things.

Another thought is to make some rules about Bitcoin and crime. We could make Bitcoin businesses put in measures like KYC and AML to make sure only the good guys are using the platform. To make Bitcoin "safer," we gotta find a balance between privacy and security. It's not easy, but it's gotta be done if we want Bitcoin to be a real currency.

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Quote from: davis196 on April 02, 2023, 12:49:57 AM

Just because Bitcoin is being used by criminals that doesn't mean that we, the Bitcoiners "should do something about it".
The police and the juridical system must find and punish those criminals. We can't do anything, in order to stop the criminals from using Bitcoin.
Fiat is being used by criminals as well. Do you think that the central bankers around the world care about this fact? Maybe they do, but that's not their main problem. Do you really think that the criminals around the world would ever stop using fiat currencies? I don't think so.
Many criminals and scammers are using gift cards. Do you think that Amazon, Google, Steam and all the other major corporations are going to stop issuing gift cards, just because scammers are using them for criminal activities?

As someone said "You can kill someone with spoon". Way you using something is more important

Topic: Bitcoin usage in crime activity. (Read 845 times)