Bitcoin usage in crime activity. - page 2.

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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?

Bitcoin is also just a currency like a fiat and they are used by people. So we won't have any way to restrict the usage from criminals, if there is any way, the government will do it with fiat, not just bitcoin, because fiat is used by criminals hundreds of times more than bitcoin. The government does not accept bitcoin because its decentralization threatens their power, it has nothing to do with criminals using bitcoin.

gunhell16

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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.

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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?

Bitcoin can be used by criminals just as fiats to perpetrate crimes such as extortions, tax evasion, cybercrime, drug trafficking and many more but that doesn't make it all bad. On a bright side, the transaction is carried on a blockchain that is immutable and traceable unlike the fiat currency that one can easily manipulate and delete the records.

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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?

The fiat has been fully backed and controlled by the government and yet some elites were able to use it for fraud and crime, what do you think of Bitcoin that doesn't have any control and it is censorship resistance? Bitcoin, of course, is primarily designed without any middleman where there is a center of authority, and seeing these features is a green flag for the bad guys who are into kidnapping, money laundry, and other forms of illicit activities, there is nothing governments and authority can do to stop these guys even with the implementation of KYC on exchanges, they still make use of decentralized exchanges without anyone stopping them.

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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.

Here's the point.
I think everyone should look at the root of the problem, because to say bitcoin is a den of evil, then what about money or other valuable assets.
But on the other hand this is also not the fault of bitcoin itself because in this case bitcoin or other valuable assets are just objects here. What needs to be straightened out is how our attitude is in using it.
This happens because of greed and how everyone's mindset always does things in ways that are not justified and this will definitely happen not only for bitcoin but for others as well. Dirty human minds make it appear that bitcoin is ugly, but that doesn't mean that everything in it is also ugly, because this is only for a handful who can be represented as irresponsible "persons".

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Quote from: Blurr007 on April 06, 2023, 07:27:11 AM

But from my own opinion, the moment bitcoin transactions can be traced, lots of people will start lossing interesting.

I don't really think so. Because if we take a closer look, the bitcoin blockchain is an open ledger that really everyone can see. Anyone can track any transaction. Sure, you can't say who exactly is behind it, but you can still understand everything as long as they don't use a mixer service to prevent this. But I think most people know that too.

There are also companies like chainalysis that analyze the blockchain in detail and try to find out who owns which bitcoin address. So by and large, the bitcoin blockchain is not 100% anonymous.

Quote from: Blurr007 on April 06, 2023, 07:27:11 AM

I agree that so many people uses crypto for fraudulent act, but introduce means to trace them would be a bad idea.

Fiat money is used by more criminals and more often than the bitcoin blockchain. Yes, the bitcoin blockchain is also used by criminals, but certainly less than you might think. Either way, there are ways to track down such people and they are used. But that does not diminish the interest in bitcoin. Neither by people who use the blockchain normally or by people who want to use it for illegal things. Wink

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Well, we should also look into the positives the transactions are transparent and can't be erased from the blockchain database never so once the transaction is done it will be there forever so in case someone at one end of the world get caught then it will be a lot easier for the investigators to trace the group with the blockchain technology which is a good thing right. Eradicating the criminal activities in a nation is in the hands of government so as long as the authorities are corrupted the criminal activities will continue even if there is no bitcoin so here the system should be changed not the mode of payment.

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Like you said, Bitcoin is anonymous. That is also the main reason on why criminals like to use it because they can escape easily with their crimes. There are still cryptos out there which are more private than in Bitcoin (Monero for example.) Criminals also use this and I think they are using this heavily than in Bitcoin. Even the criminals do also use fiats especially when they are about to encash their cryptos so don't focus only in Bitcoins.

There are now in-direct regulations which are put in place to possibly combat these criminal activities. This makes people trust Bitcoin even more so adoption is still doing fine and it only got improved. Don't worry, Bitcoin is still decentralized.

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Quote from: Cantsay on April 06, 2023, 08:47:04 AM

Quote from: Blurr007 on April 06, 2023, 07:27:11 AM

~~~
I agree that so many people use crypto for fraudulent activity, but introducing means to trace them would be a bad idea.

What about fiat currency? Does this imply that people do not use fiat to commit fraud?
Most of the time, the government is looking for something to blame for their failing economy, which is why they have decided to label Bitcoin as a commodity that aids in the success of fraudulent activities, which isn't entirely true.
Permit me to say but in my country, some lazy/greedy people who still engage in that fraudulent activity still use fiat transactions to carry out their scams.

P. S. Do not use the terms "Bitcoin" and "crypto" interchangeably, as they are not the same thing, and you should know by now, if you didn't already, that Bitcoin is far better to the other coins (cheap copies of Bitcoin) that are being introduced into the market.

Everyone knows that bitcoin is the best, but bitcoin is also part of the crypto industry, bitcoin is not alone. Initially, only some governments wanted to ban bitcoin and crypto, so they found ways to blame bitcoin. But nowadays, governments are slowly realizing the benefits of bitcoin, so they are gradually adopting it but with regulations attached.

To me, bitcoin or fiat is just means, and criminals use what is up to them, without bitcoin and fiat, they will also find an alternative. They will never stop.

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Quote from: Blurr007 on April 06, 2023, 07:27:11 AM

~~~
I agree that so many people use crypto for fraudulent activity, but introducing means to trace them would be a bad idea.

What about fiat currency? Does this imply that people do not use fiat to commit fraud?
Most of the time, the government is looking for something to blame for their failing economy, which is why they have decided to label Bitcoin as a commodity that aids in the success of fraudulent activities, which isn't entirely true.
Permit me to say but in my country, some lazy/greedy people who still engage in that fraudulent activity still use fiat transactions to carry out their scams.

P. S. Do not use the terms "Bitcoin" and "crypto" interchangeably, as they are not the same thing, and you should know by now, if you didn't already, that Bitcoin is far better to the other coins (cheap copies of Bitcoin) that are being introduced into the market.

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Nice topics

But from my own opinion, the moment bitcoin transactions can be traced, lots of people will start lossing interesting.

I agree that so many people uses crypto for fraudulent act, but introduce means to trace them would be a bad idea.

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Quote from: Crypto Library on April 04, 2023, 01:37:05 PM

Quote from: ivankoh on April 04, 2023, 10:07:15 AM

No currency is perfect for all its circulation, acceptance, and operation. All fiat, including assets like gold, securities are potentially involved in transactions of criminal activity, not just bitcoin. Bitcoin offers freedom and scopes of use it will not be interfered with in any space, it is a need and usage. I'm afraid bitcoin can't be built or changed in its special structure and most of the change is up to its users.

I agree with you that we should not blame the whole system for the actions of a few hypocrites. Most of us still have this kind of misconception, Bitcoin is being blamed for these criminal activities, but if you look at it, most of the illegal activities in the world are still included in fiat currency, and gold is also included in this list.
However, even though identity hiding is the quality of bitcoin, the government can control this issue through its various regulations, and for this we need to create awareness about this issue, moreover, if a crime is committed, the accused can be identified based on the type of crime.

We need to remember that crime predates Bitcoin by centuries, so whether Bitcoin exists or not, criminals will still live and will use other methods to carry out their evil deeds. The OP's suggestion of modifying bitcoin or doing anything to stop crime is more like he's trying to blame bitcoin than the criminals out there. Crime is like human greed, we will never be able to stop them all, all we can do is try not to be one of them.

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Quote from: xSkylarx on April 04, 2023, 10:05:26 AM

The first thing that came to mind was that Fiat is not crime free, which means it is still used by criminals in transacting, which means it has loopholes and they can still get caught, and the same is true with Bitcoin, they just use it because they can easily send money online from it unline in banks, where you can easily see it, but being anonymous, I believe the FBI is already tracking it down, as you are not 100% anonymous on this because you still need to send it to b

I don't know why some people will consider bitcoin as the preferred money in criminal activities. If criminals are able to utilize bitcoin for over a billion dollars of transactions, then how much more criminals were able to transact using fiat money. At least bitcoin transactions are trackable thru an honest blockchain whereas fiat transactions especially cash aren't trackable at all. Billionaires, millionaires, businessmen, politicians, and companies can use as dummies to transact illegal transactions.

All things created with good intentions can be used for criminal activities as well. Pencils are made for writing and drawings but someone can use them to kill someone. Cheesy

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Quote from: HedgeFx on April 03, 2023, 06:15:41 AM

Criminal activities can be carried out with any means, from cash to bank transactions. The idea that bitcoins are a tool to help criminals is a widespread thesis among Italian rulers. To those who think these things I always answer in the same way: a knife can be used to cut bread or to attack a person. It is not the tool that is dangerous but how it is used!

That's right, it's utter rubbishness by those who link Bitcoin or any asset out there with criminals or their activities knowing that they are not bound to use a single asset or currency to carry out their operations. We all know, even the authorities, that criminals have been using fiat for all their activities for centuries, but we never blamed fiat for being a criminal currency, then why the hypocrisy when it comes to Bitcoin?

I remember, a few years back, the mainstream media tried to do the same thing with Bitcoin, trying to make the general public think that it's a bad thing and only criminals use it and the general public shouldn't, but what happened is that they failed miserably, and the result is in front of us.

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Quote from: ivankoh on April 04, 2023, 10:07:15 AM

No currency is perfect for all its circulation, acceptance, and operation. All fiat, including assets like gold, securities are potentially involved in transactions of criminal activity, not just bitcoin. Bitcoin offers freedom and scopes of use it will not be interfered with in any space, it is a need and usage. I'm afraid bitcoin can't be built or changed in its special structure and most of the change is up to its users.

I agree with you that we should not blame the whole system for the actions of a few hypocrites. Most of us still have this kind of misconception, Bitcoin is being blamed for these criminal activities, but if you look at it, most of the illegal activities in the world are still included in fiat currency, and gold is also included in this list.
However, even though identity hiding is the quality of bitcoin, the government can control this issue through its various regulations, and for this we need to create awareness about this issue, moreover, if a crime is committed, the accused can be identified based on the type of crime.

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Quote from: alastantiger on April 04, 2023, 09:55:23 AM

As our local fiat can be used for criminal activity so is bitcoin. And contrary to popular opinion, we cannot say that bitcoin is used for more illegal activities than our local fiat is.Before I ventured into bitcoin investment, I was well informed of the potential for criminals to use bitcoin to conduct their nefarious acts but I knew from Satoshi's whitepaper that this was not the true purpose of bitcoin but of those who used it in this manner. I hope we are aware that if we take a walk down history lane, we would see evidences of the US dollar being used for illegal activities.

True bitcoin supporters or enthusiasts do not support the use of bitcoin or any fiat currency for illegal activities and also they do not let the bad news of people using it for such purposes deter them from investing in it. Therefore, they have no need to worry.In conclusion, bitcoins investors have the moral responsibility to use it in a legal and ethical manner.

The issue is that one can not dictate how the other should make use of what they have in their custody however, in the case of fiat and crypto relating with crime, one can say criminal would be very difficult to handle when they make use of Bitcoin or any other crypto coin for their evil acts. Fiat transactions can easily be trace by security and financial institutions if they wish to.

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Quote from: bangjoe on April 04, 2023, 10:47:57 AM

Criminal acts can be committed even without using any currency as a means of transaction, so it will be very difficult to eradicate such things, basically currency cannot control human actions, because currency is just a tool including bitcoin.

yes, Bitcoin and other currencies including fiat are used only as a means of criminal action. tool removal is not the solution. because the problem lies in human greed itself which is never satisfied with what it has.
in the context of the problem, it would be very difficult to find a solution. but I also don't believe that the negative press about Bitcoin will hinder its future adoption. public trust has increased quite a bit, several countries are starting to open up to Bitcoin and Crypto.

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Quote from: ivankoh on April 04, 2023, 10:07:15 AM

No currency is perfect for all its circulation, acceptance, and operation. All fiat, including assets like gold, securities are potentially involved in transactions of criminal activity, not just bitcoin. Bitcoin offers freedom and scopes of use it will not be interfered with in any space, it is a need and usage. I'm afraid bitcoin can't be built or changed in its special structure and most of the change is up to its users.

Yes, even though gold has a shape and weight that can be used for criminal transactions, this will only be ambiguous for all those who think about securing currency from criminal acts. I don't think how it would be one of the strongest pillars of bitcoin as a decentralized currency and giving freedom to be removed just for reasons to avoid criminal acts.
Criminal acts can be committed even without using any currency as a means of transaction, so it will be very difficult to eradicate such things, basically currency cannot control human actions, because currency is just a tool including bitcoin.

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No currency is perfect for all its circulation, acceptance, and operation. All fiat, including assets like gold, securities are potentially involved in transactions of criminal activity, not just bitcoin. Bitcoin offers freedom and scopes of use it will not be interfered with in any space, it is a need and usage. I'm afraid bitcoin can't be built or changed in its special structure and most of the change is up to its users.

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The first thing that came to mind was that Fiat is not crime free, which means it is still used by criminals in transacting, which means it has loopholes and they can still get caught, and the same is true with Bitcoin, they just use it because they can easily send money online from it unline in banks, where you can easily see it, but being anonymous, I believe the FBI is already tracking it down, as you are not 100% anonymous on this because you still need to send it to b

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