Topic: Bitcoins for illegal activity - page 20. (Read 2141 times)

Bitcoin has some advantage and disadvantage and its all up to us how we manage it. Its true bitcoin is involve with some illegal activities. Most of drug dealer use the bitcoin to sell dungs because they know Government can't trace it . Its a big advantage of bitcoin that it can't be traceable.

bitcoin is actually a bitcoin free payment tool to do anything but it is very sad if bitcoin we use for actions that are not good such as money laundering and blackmail money will make bad bitcoin.

Since from the start we all know here that bitcoin can  really be use for illegal activities and can also be use for good but as I was saying before we must not abuse bitcoin in any form of illegal things as much as possible.

Actually that is an old news. Back then when Bitcoin is fairly new, Bitcoin is widely use for illegal activities such as tipping for porn sites, drugs and money laundering. Because it is capable of hiding your identity or fully anonymous who transacts, it is prone in such activities. Bitcoin is not used solely for this but because of its characteristics as a currency, it can be taken advantage in doing so. That is also the reason why it is being monitored by the government. They can’t track and locate who makes the transaction though it is publicly published. If they can come up with a solution to this then Bitcoin will be widely accepted by any country.

Everyone is not good in our society. There are many people who are connected to illegal activities. It's really painful for all.They do many illegal work.Bitcoin is used for those kind of activity. Because, their demand is paid via Bitcoin in virtually.

Yes, Bitcoin is used for drug trafficking, illegal gambling, money laundering and other criminal activity but I don't see how that is a bad thing for the average Bitcoin investor. The modern world has tried to stop all of these illegal activities for a very long time and they have had no success. Drugs are cheaper, more potent and more readily available than ever before. Illegal online gambling grows every year. Matter of fact, I don't believe they will ever stop the drug trade or illegal gambling. It is just a fact of life. I do not support or participate in any way with the illegal drug trade, gambling ,or money laundering but I think they provide a certain valuable level of support for cryptocurrencies. They allow that cryprocurrencies will never be completely devalued because they have the decentralized anonymous features that support such illegal activities.

I don't think that pornography is one of humanity's greatest achievements and I can't say that it contributes much to society as a whole. However, during the 1990s, the pornography industry was the number one industry that led to research and development in the internet and because of the support of the pornography industry, the internet grew by leaps and bounds. Pornography eventually alowed for the massive worldwide adoption of the internet. I think that without pornography the world would not have the internet as it is today.

Today the internet is not solely associated with the pornography industry. As such, I believe that in the near future cryptocurrencies will no longer be so strongly associated with illegal activities.

i think everything has its own negative effect on the society, bitcoin is the case too, because of its anonymous platform making no one can control it so criminals has used it as a good tools to active and easily high away from governments, this is a serious problem that can hardly be solved by governments and surely takes a very long time.

This can be used in malicious ways to spread bad PR about bitcoins and cryptocurrencies, but the reality is that fiat currency has also been used before for the same exact thing, so why not ban that too if we're going to ban cryptocurrencies for the same exact reason? Really the problem isn't the commodity being used for illegal purposes, it's the people behind those actions that are conciously doing it. As long as human civilization has existed on Earth various things have been used to do so, it's not really avoidable and really people blaming BTC for this sort of thing are not the ones anybody should listen to.

Countries like Australia, Canada, USA are banning bitcoin currency in their economies due to security reasons. According to them digital cryptocurrency bitcoin is getting used in illegal activities like drug trafficking, money laundering and also in terror funding activities. Bitcoins decentralised status, peer to peer exchange system is becoming a big threat to these countries. Computer hackers are also using bitcoin money as a tool of ransom, ransomware attack is the best example of it.

Those criminals used bitcoin as new method of payment but there is a way to capture them once law enforcement track their IP address. But in a first place this is not fault of bitcoin because bitcoin made for all so everyone can use it in legal and illegal way.

whether the authorities can find out who the bitcoin users are doing illegal activities? while the anonymous bitcoin is very difficult to trace who the criminals who transact using bitcoin.

Along with all the positive side of the bitcoin, unfortunately this is the sad part of it that it is being used heavily in illegal activity. it might even be the reason for high prices, who knows.

I also think that using bitcoin to buy or sell a drug is a very bad idea. How can you influence the situation using bitcoin for criminal purposes? What can we do? We need the authorities to deal with such issues.

Bitcoin can really help us in some way but it depends on the person on how will they use it and if the intension of the person is to sell or to buy drugs or other illegal transaction i suggest that it will be banned from the sit or just stop it . Because bitcoin is not a problem it is there to help us

Bitcoin was used by drug trafficking activities by unscrupulous users they are making network in BTC is their medium of payments the silkroad , the value of bitcoin that time goes back to the ground , but later on it goes back and become what BTC right now, yeah I agree it is not the concern of BTC if it used to some criminal activities  it is the work of the law enforcers to go against the criminals,it is not the right decisions to shut down BTC jus because of  criminal activities.

Correct. But most of the people are thinking, also the goverment that bitcoin should be ban because of it being misuse by the people in the society, which is unfair to those who are using bitcoin in the right way. The best thing to eliminate illegal activities using bitcoin is to ban the sites where they do illegal activities, and not the bitcoin itself.

You stated a fact , involvement of illegal activities in this platform is possible. Anonymity frature of Bitcoin is somehow welcoming this kind of activity due to its function that to require less personal information about a person who owns account here, it enables some people to steal and scam without any trace for them which leads us to be vulnerable to this.

It will definitely happen because we all have the freedom to use our Bitcoin.

It is very easy to think that bitcoin was created for bad reasons and nothing good will ever come out of it whatsoever which is why so many people shy away from the crypto world think it is full of scammers and cheaters which is partly true. The famous Mt.Gox collapse and the dark web FBI scandal left the crypto world shattered, but that did not stop bitcoin from overcoming all barriers and taking off into the stratosphere. Sometimes, it is better to take a leap of faith.

I agree with this. Bitcoin is hell prone for illegal activities. It seems that through bitcoin people can make quick transaction without any physical contact. For with this people, bitcoin is a great advantage for their business and for doing bad things. And if people continues with this business, more country will take a step in banning bitcoin. I hope someday they will realize the gift we had from bitcoin. And not just waste it.