Topic: Criminals and Bitcoin - page 23. (Read 4576 times)
I think the biggest disadvantage of bitcoin is that it is used for anti-proactive purposes! That's why bitcoins want to ban many countries. I believe that any thing created for good can be used otherwise!
I see criminal activities to be a subject on their own and what these people do is that they look for a loop hole in a technical area and use it against the innocent people. Criminals had their own ways of getting paid when there was no blockchain and for that matter BTC. Why are governments not shutting down the internet because people use it for fraud? It is definitely because the intention of the internet is not to favour people to do their criminal activities but the loop hole in it has also helped bad people to do their things in favour of themselves.
Because the blockchain data cannot be modified or deleted, each transaction is recorded on the blockchain and the records can be publicly accessed!
It is not impossible for criminals to conduct criminal activities through BTC. Blockchain technology can help police to track criminal activities!
It is not impossible for criminals to conduct criminal activities through BTC. Blockchain technology can help police to track criminal activities!
Criminals and bitcoin has something to do in common, IMO. With the attribute of bitcoin being centralized, it became a perfect tool for criminal to extort, send or receive money without revealing themselves. That is why some countries ban bitcoin and cryptos in fears that cryptos is a threat for their security and safety.
Criminals are involved in anything that involves money. Even fiat money are been stolen by hackers and fraudsters. It takes a person who knows about bitcoin trading/investment to hack or steal bitcoin. I could remember a friend who mistakenly left the private key of his etherum wallet on his laptop and within some minutes his entire token was been moved from his account to the fraudsters account. Criminals are everywhere once money is involved.
I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes) and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.
bitcoin is just a tool in hands of criminals like and fiat money that is also used for illegal activity. so we can't blame cryptocurrency in illegal actions.How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes) and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.
I agree, criminals are always In every plcae and everything, before bitcoin doesn't yet exist criminals already surrounds In our world. So all we gonna do now Is to secure and avoid suspicious person and prevent being victim of them.
Criminality and bitcoin are two different sides. Besides before bitcoin came into existence, there were many ways people used to commit their crimes. I think people who hate bitcoin are just associating crime with bitcoin just to deter people from investment and bring it down. But bitcoin has always proven to be strong and is not failing anytime soon.
I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes) and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.
bitcoin is just a tool in hands of criminals like and fiat money that is also used for illegal activity. so we can't blame cryptocurrency in illegal actions. How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes) and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.
People using crime to link to bitcoin is very wrong, bitcoin like every other commodity can be use for either good or bad purpose. Bitcoin like every other commodity and currency such as gold and the Euro or dollars it self can be use in which ever way the holder chooses to use them.
I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes) and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.
The July 2017 report prepared by the European Commission states that the risk of using cryptocurrencies for financing terrorism is unlikely. The report draws attention to the fact that virtual tokens such as Bitcoin require technical knowledge and skills to navigate the Internet and use computer programs. For this reason, it is not the most attractive form chosen when supporting terrorism.How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes) and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.
In January 2016, Europol also published a report in which it officially stated that there is no evidence of lawbreaking by using cryptocurrencies and that no financing of terrorism was found through the use of virtual currencies.
bitcoin is just a tool in hands of criminals like and fiat money that is also used for illegal activity. so we can't blame cryptocurrency in illegal actions.
With the appearance of Internet appeared hackers, now with appearance of crypto appeared crypto scanners. Everything is logical and technological, we just can't pass it or run away from it. That's evolution how it is.
Criminals are always present in every time and society, they are using different currencies for their different purposes. Using Bitcoin as payment for their illegal operations due to its decentralization and anonymity.
A vice will always be present in every life so only we are more careful about their work.
Criminals are always present in every time and society, they are using different currencies for their different purposes. Using Bitcoin as payment for their illegal operations due to its decentralization and anonymity.
It is not the fault of bitcoin it is the fault of those criminals because they are misusing it.
Criminals adapt to technological advancements that's a fact whether its hard currency or digital currencies like Bitcoin or Ethereum if theres a way to reamain anonymous and use these innovations to their advantage they will continue to do so, It's up to innovators and creators to aid in attempts to promote apropriate use of Crypto and regulate the use accordingly to users who will use it without malicous intent.
Theft of powerful processors in companies and illegal use of official equipment for personal mining is another type of offense directly connected with bitcoins.
Criminality and illegal trade should be distinguished from bitcoins. Lets not forget that before the invention of cryptocurrencies; issues of hacking, terrorism and other nefarious activities were still on record; why do we now associate every bad act to the advent of cryptos. I believe bitcoin have nothing to do with criminals
Today bitcoin has not been globally accepted as digital currency or digital asset. Some countries have accepted but some others still ban it to operate and grow legally. We all should support it to grow better,faster and formally accepted. It must be understood that btc existence can be used by people for criminal purposes. This case must be controlled or avoided under certain regulation accepted together. We strongly need regulations like in fiat money to avoid illegal use like money laundry, buy weapons, terrorist funding, etc. Both btc as digital money or fiat money can be misused for illegal use and we must do the best to controlle or minimize this illegal activity.
bitcoin will always have its advantages and disadvantages as well as its strengths and weaknesses, which some hackers should be aware of right now. Don't forget that criminals don't care about currencies.
Criminal will always take advantage of the Bitcoin.
Old bad tiny myth. With strictly KYC's they can't use large amounts through Bitcoin. For e.g. only 1 percent of all Bitcoin transactions were used for money laundering https://www.coinwire.com/money-laundering-less-than-1-percent-of-all-bitcoin-transactions
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