Topic: Could bitcoin prevent crime? - page 11. (Read 9664 times)
The crime will be significantly reduced, if people stop carrying physical cash and credit cards in their wallet. They can make the payments using the Bitcoin wallet in their mobile phones. Even if someone steals the mobile phone, it will be of no use. The wallet will be protected by 2-factor authentication and by the time the thief manages to crack it, the coins will be transferred somewhere safely.
New technology but same old problems. I don't think bitcoin can prevent crime. Criminals are often, if not always, more advanced, and already in the next step before the others. They always find new ways, new technologies to commit theirs crimes, somztimes they have a lot of imagination. The anonimity of bitcoin is a misconception as well but it didn't stopped the european commission in their anti taxs evasion journey.. And nowaday gangster prefer to use crypto like monero
It cant prevent crime but it helps us trace the criminal who stole the money with btcoin
Can you tell us how bitcoin will help to trace the theif who stole bitcoins. I feel bitcoin is anonymous and it is extreme difficult to trace through bitcoins.Your stolen bank money or credit card can be traced but No for bitcoins.
See bitcoin is a virtual currency so you can't really prevent crimes using bitcoins instead the use of bitcoin may increase the criminal activities as using bitcoins for transactions may be totally alien to some people.
This implies the lesser the people know about it the more difficult will be for them to understand it's working ie it may take so.e time for them to get comfortable with it while that time might be enough to fool that using it for transactions may also lead to zero tax payment which is officially a crime.so we can't say that it will prevent crimes.
This implies the lesser the people know about it the more difficult will be for them to understand it's working ie it may take so.e time for them to get comfortable with it while that time might be enough to fool that using it for transactions may also lead to zero tax payment which is officially a crime.so we can't say that it will prevent crimes.
The best example of this i can give is in relation to terrorism. A great concept of this on a local level is that people get involved with crime due to the lack of choices. So say George wants to open a business and support his family, but due to bureaucracy and corruption in the local government - this happens a lot in some parts of Africa, also Afghanistan and many other locations - he is unable to open the business rapidly. It can take up to 3 months in some parts of the world! So we introduce bitcoin. Now the guy can automatically earn money without needing a bank, permission or paper work. So the next step is the business itself. With more and more services coming around, people will be able to bypass normal standards and open a business purely on the blockchain jurisdiction. Meaning they do not need to turn to crime or other means out of desperation to support their families.
This is a very basic example but it does portray the message correctly. A lot of crime comes from the lack of choice one has to support oneself leading them to make desperate moves to bypass their circumstances.
This is a very basic example but it does portray the message correctly. A lot of crime comes from the lack of choice one has to support oneself leading them to make desperate moves to bypass their circumstances.
Yes bitcoin can prevent crime from the way I see it, bitcoin provides a way to earn some decent income legitimately for quite a number of people even on this forum alone is enough compared to other forums as well. we have had coders and IT experts coming here to earn something in which case they would have engaged in something else if this is not provided for them which there is possibility that it might be illegal. So, whether we like it or not, that counts and it means less people engaging in criminal activities.
LOL. your reason is too general, That means all things in the world can stop crimes because it is just a matter on how they use it. In my opinion bitcoin can do both prevent and reason to made a crime. Bitcoin is money no matter what angle we see it. And money is common reason for crimes, Then it will prevent a crime once it is used on good things just like helping poor people so that they will not do bad things just for money
Sorry, let me rephrase - not prevent crime exactly, but prevent violence during criminal transactions.
In a criminal transaction Escrow would be the safest option because if the escrow jets with the money he'll have two criminals after him, not just one!
Escrow is a very nice system, enabling people to trust each other and do business irrelevant to it being criminal or not. However, escrow is not tied specifically to bitcoin, because it is just about the third party in a deal, Payment Services Directive is an example. And taking into consideration the pseudonymousity of bitcoin it would rather help crime than prevent it. Violence is prevented but crime isn't. In a criminal transaction Escrow would be the safest option because if the escrow jets with the money he'll have two criminals after him, not just one!
Yes bitcoin can prevent crime from the way I see it, bitcoin provides a way to earn some decent income legitimately for quite a number of people even on this forum alone is enough compared to other forums as well. we have had coders and IT experts coming here to earn something in which case they would have engaged in something else if this is not provided for them which there is possibility that it might be illegal. So, whether we like it or not, that counts and it means less people engaging in criminal activities.
bitcoin is not batman who can solve crimes the purpose why bitcoin is created is not for that thats why we have police/investigator to look crimes for us , we use bitcoin for currency (even if they call it commodity) online maybe if you use bitcoin for paying some people who can be hired privately then bitcoin will just help you with that.
Yeah thats funny. Bitcoin is not a batman or superman to change the world. Its just a currency. Has anyone ever told that US dollar or EURO can prevent crime? Rather crime happens because of money and it will contiune to happen for bitcoin as well.
Could bitcoin prevent crime?
I believe Bitcoin transactions via online wallets could prevent crime. People are going to use Bitcoin for legal and illegal transactions, however criminal transactions are susceptible to crime as cash is used for the transaction...which encourages theft. If bitcoin were used for these shady transactions, perhaps with escrow, there would be no opportunity to steal currency - couldn't this prevent crime? (Aside from the original criminal transaction of course!)
Bitcoin cannot prevent crime.Even if you use an escrow, he would only give assurance of transaction and he doesnot know what the two parties are going to do with that bitcoins.There is always a criticism that bitcoins are used for illegal activities and parties indulging in such activities would never use an escrow.They two would have good co ordination between them.Bitcoin has nothing to do with preventing crime. I believe Bitcoin transactions via online wallets could prevent crime. People are going to use Bitcoin for legal and illegal transactions, however criminal transactions are susceptible to crime as cash is used for the transaction...which encourages theft. If bitcoin were used for these shady transactions, perhaps with escrow, there would be no opportunity to steal currency - couldn't this prevent crime? (Aside from the original criminal transaction of course!)
i dont think that it prevent crime i dont understand that how a person can use it for black money or illegal money but i think it is much more safest than bank accounts and bait currency.....!!!!!
Well i don't think so, by using bitcoin then its mean we don't need to use carry cash around, in this case maybe we can decrease the chances becoming the target of criminality, but it won't prevent any crime and in fact now there are more case of ransomware because of bitcoin
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Bitcoin could prevent crime in terms of making transactions because it is very safe, every address is not able to hack as long as you use the available security features, Google Authenticator is the best. We know that some users engage in illegal activities so meaning to say it is already a crime.
Your words "as long as you use the available security features" means an address is still able to be hacked and taking over its control from you and it's contradictory with your statement which said "every address is not able to hack" though, even if you have the finest security, the chance of getting hacked is still there even it's lower than having poor security.Everything in this world has a hole, and nothing in this world is impossible, I say that if some hackers know how to access your wallet or just gaining access to it, your wallet and all of your address will be taken easily.
Bitcoin could prevent crime in terms of making transactions because it is very safe, every address is not able to hack as long as you use the available security features, Google Authenticator is the best. We know that some users engage in illegal activities so meaning to say it is already a crime.
Could bitcoin prevent crime?
I believe Bitcoin transactions via online wallets could prevent crime. People are going to use Bitcoin for legal and illegal transactions, however criminal transactions are susceptible to crime as cash is used for the transaction...which encourages theft. If bitcoin were used for these shady transactions, perhaps with escrow, there would be no opportunity to steal currency - couldn't this prevent crime? (Aside from the original criminal transaction of course!)
I believe Bitcoin transactions via online wallets could prevent crime. People are going to use Bitcoin for legal and illegal transactions, however criminal transactions are susceptible to crime as cash is used for the transaction...which encourages theft. If bitcoin were used for these shady transactions, perhaps with escrow, there would be no opportunity to steal currency - couldn't this prevent crime? (Aside from the original criminal transaction of course!)
No it will not goes a way like that. The way bitcoin transaction is performed and execute, it's more convenient and appropriate to use in illegal transactions. If doesn't then we should not seeing reports about bitcoin having used in illegal activities or simply as all government in the world will accept bitcoin 100% without any doubts.
One thing that some of countries aren't hugging the bitcoin system is because it's really more prone in money fraud acitivities. Even being regulated and centralized somehow couldn't be an assurance that no fraud will happen in bitcoin. Look at fiat now being a centralized one, still lots of usage in terms of illegal activities.
No matter if Bitcoin was here or not, the crimes cannot be prevented this way. Do you really think Bitcoin's end would stop crimes? No, before Bitcoin there were crimes too and the criminals could transfer money through many different ways. Bitcoin is great for anonymity. I don't care if criminals are using it - as far as I am using it legally, I don't care.
Besides your point I have another point which say that bitcoin is preventing crimes. That is in some societies there are extreme unemployment in those societies the youngsters often start crimes to get the money in any way. While with the coming of bitcoin now the youngsters will not serach for jobs but they will start their online works and after earning some money they will start their own business.
Yes it will be a big help to prevent crime like robbery of money unlike fiat money if you hold it in your hands and put in on your pocket, there maybe a situation that you will be robbed or pick pocketed by those theives. Unlike bitcoin in your online wallet you won't be a crime victim if you use every btc transaction online because its secured through wallet admin unless you are being hacked. But possibilities is less than 10% to happen, few crimes like this will happen so digital currency has more advantages.
Should be "How bitcoin prevents crime?" Here in crypto it's like those victims that lack knowledge will never get justice from scammers. No matter how clear you tracked their transactions still it is unreversable.
I think it is not possible with bitcoin transaction to prevent crime because many people are keep transferring there to different address. Those who are not using bitcoin wisely will keep on changing their address how can we identify those people.
It cant prevent crime but it helps us trace the criminal who stole the money with btcoin
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