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Topic: Dark use of Bitcoin (Read 23467 times)

full member
Activity: 344
Merit: 107
November 30, 2019, 01:22:03 AM
Even if fiat money is used for illegal purchases over the Internet . And bitcoin is an unofficial digital currency is not regulated by anyone and of course he is used by the criminal world for its own purposes .
How it possible? You can't make transaction in Fiat currency without recipient identity i mean who guys will buy from you. I don't think there are any chances of illegal activities by Fiat money because it's a offline currency.
full member
Activity: 344
Merit: 107
November 30, 2019, 01:11:59 AM
You can use money to buy illegal stuff, you can use gold to buy illegal stuff, so it does not mean anything if someone uses bitcoin to buy illegal stuff. Bitcoin, fiat money, gold, are just different forms of the assets.
I can't agree with you. Bitcoin is anonymous that's why it's can be easily use in illegal stuff in the dark web and other many illegal platform.
Fiat Money and Gold are very different things because these is you will never use it anonymously because those are physical asset.
full member
Activity: 714
Merit: 100
October 16, 2019, 03:30:30 AM
1) Are you used Bitcoin to buy illegal staff Huh

2) which better to buy legal things  Bitcoin or Normal Bank system (PP,payeer,cash ,.............)

1. Honestly i don't buy illegal stuff because the words illegal means Jail if you will be caught but any one can used Bitcoin to buy any thing as long as the stuff is available.
2. Bitcoin is better to used because it will not trace your records specially in illegal activities.
full member
Activity: 658
Merit: 100
August 30, 2019, 02:01:49 AM
1) Are you used Bitcoin to buy illegal staff Huh

2) which better to buy legal things  Bitcoin or Normal Bank system (PP,payeer,cash ,.............)

I bought a cup of coffee with Bitcoin and included a book, of course you can buy using Bitcoin to buy illegal things, but I recommend that, to make Bitcoin clean, you should use Bitcoin to spend on transparent things.
hero member
Activity: 3052
Merit: 606
August 26, 2019, 09:44:32 PM
Moreover, even mixers nowadays has been shut down already, that's how powerful and strong the government is when it comes to implementation.

Not all mixers, there are still mixers that are operating but the way I see it, mixers are more use on illegal activities than using it for privacy purpose.
I believe, government does not like mixers because they it's against the anti money laundering law, and based on what I observed, the government are requiring every business involve in handling cash transactions to impose KYC requirement to the site, mixers does not as it will defeat its purpose.

We have seen two mixing services closing in a span of about a week in May if I'm not mistaken. So definitely authorities are already knocking on the door of mixing services still standing today. So it's going to be a cat and mouse game for tumbling operators, other might cave in and just shut down because of too much pressures from the government. And for those we wish to stand and fight, then it's going to be a uphill battle for them.

I don't know the exact number, but I think there's a lot of mixing service in the space but we only know few since most of them does not have an exposure in this forum. The two mixers that you are talking are the bestmixer and Bitblender but maybe they can still run their business with different names since this business are not registered and regulated by the government.

Also https://chipmixer.com/ is not anymore accessible in normal web browser like google, I hope they'll not be the next.
legendary
Activity: 3080
Merit: 1353
August 26, 2019, 02:16:30 PM
Moreover, even mixers nowadays has been shut down already, that's how powerful and strong the government is when it comes to implementation.

Not all mixers, there are still mixers that are operating but the way I see it, mixers are more use on illegal activities than using it for privacy purpose.
I believe, government does not like mixers because they it's against the anti money laundering law, and based on what I observed, the government are requiring every business involve in handling cash transactions to impose KYC requirement to the site, mixers does not as it will defeat its purpose.

We have seen two mixing services closing in a span of about a week in May if I'm not mistaken. So definitely authorities are already knocking on the door of mixing services still standing today. So it's going to be a cat and mouse game for tumbling operators, other might cave in and just shut down because of too much pressures from the government. And for those we wish to stand and fight, then it's going to be a uphill battle for them.
legendary
Activity: 3080
Merit: 1292
Hhampuz for Campaign management
August 19, 2019, 06:39:21 AM
Moreover, even mixers nowadays has been shut down already, that's how powerful and strong the government is when it comes to implementation.

Not all mixers, there are still mixers that are operating but the way I see it, mixers are more use on illegal activities than using it for privacy purpose.
I believe, government does not like mixers because they it's against the anti money laundering law, and based on what I observed, the government are requiring every business involve in handling cash transactions to impose KYC requirement to the site, mixers does not as it will defeat its purpose.
hero member
Activity: 3052
Merit: 606
August 19, 2019, 01:33:00 AM
Not wise whatsoever esp now there are advanced technology solutions like Ciphertrace who specialize in BTC forensics
I agree with you, there is a big changes in the market now, the anti money laundering council are already aware of the possibility of laundering money using bitcoin and since most of the exchanges now are regulated, it will be hard for people to use bitcoin for their illegal activities, otherwise they will easily be trace.

I think since we have a lot of privacy coin now, that should be use for as a better option compared to BTC.

Moreover, even mixers nowadays has been shut down already, that's how powerful and strong the government is when it comes to implementation.
jr. member
Activity: 312
Merit: 1
August 12, 2019, 05:43:47 PM
This was an interesting point found by Ciphertrace regarding BTC and dark use:

“The results show that privacy coins are barely used in dark markets and at dark vendor sites (e.g. only 4% of instances involve Monero (XMR). Instead, Bitcoin remains the coin of the realm in this shady world, with BTC used in 76% of dark market cases and ETC used in only 7% of instances.”


https://cointelegraph.com/news/cyber-criminals-netted-43b-from-crypto-related-crime-in-2019-study

legendary
Activity: 3766
Merit: 1217
August 11, 2019, 02:35:33 AM
Independent studies were conducted in the US and Europe and they confirmed that bitcoin is used for illegal purposes in less than ten percent of cases. Bitcoin criminals hardly use it because of its relative anonymity only. For illegal purposes, cryptocurrency with a higher level of anonymity is used - these are coins monero, dash and others.

Can you give me the source? I believe that 10% is way too high.

Recently, there was a study by the Massachusetts Institute of Technology (MIT) and the IBM Watson AI Lab on the dark use of Bitcoin. Their conclusion was that less than 2% of all the transactions were "illicit" (which includes dark market transactions). Also recently, there was another study by Chainalysis. Their figures were even lower. Chainalysis claimed that less than 1% of all the Bitcoin transactions were illicit.

We can't deny the fact that a small part of the Bitcoin transactions are linked to illegal and illicit business. But the good news is that the proportion of such transactions are going down with every passing year.
member
Activity: 296
Merit: 12
August 09, 2019, 11:47:16 AM
Not wise whatsoever esp now there are advanced technology solutions like Ciphertrace who specialize in BTC forensics
member
Activity: 365
Merit: 10
August 09, 2019, 08:02:13 AM
1. I used my bitcoin to buy legal things because I have nothing to do with illegal thing but i don't know of others. Remember no one can stop you to spend your bitcoin for anything whether legal or illegal.
2. Use any of them to secure what ever services you want since your bitcoin or you money in the bank belong to you alone.
sr. member
Activity: 2422
Merit: 357
August 05, 2019, 05:50:58 AM
Don't buy illegal things over internet. Sooner or later you may end up at jail.

Done. End of discussion.

If you know that the things you buy are illegal, take a step back immediately. I know many of those illegal things can be bought online via dark web easily and can even deliver straight to your house. A transaction or two can escape but sooner it will end in jail or huge fees and charges.
legendary
Activity: 2016
Merit: 1107
July 08, 2019, 01:52:43 PM
Don't buy illegal things over internet. Sooner or later you may end up at jail.

I agree that it's too dangerous to do illegal things through the Internet, but you can also be easily caught outside

it is equally dangerous to do illegal things on the web or in real life
internet gives a false sense of anonymity , when in reality your identity is traceable if really needed
but you won't necessarily end up in jail , the agencies who have the ability and resources to trace the illegal deals
won't bother with petty crimes , same as in the outside world - the rules of the game are the same
sr. member
Activity: 2352
Merit: 245
July 06, 2019, 11:38:13 PM
Independent studies were conducted in the US and Europe and they confirmed that bitcoin is used for illegal purposes in less than ten percent of cases. Bitcoin criminals hardly use it because of its relative anonymity only. For illegal purposes, cryptocurrency with a higher level of anonymity is used - these are coins monero, dash and others.
sr. member
Activity: 2422
Merit: 267
Hire Bitcointalk Camp. Manager @ r7promotions.com
June 29, 2019, 07:42:24 AM
Don't buy illegal things over internet. Sooner or later you may end up at jail.

I agree that it's too dangerous to do illegal things through the Internet, but you can also be easily caught outside
The name fraud is clearly ilegal, at least what has been done violates the rules humanely and has violated state rules. Every clear illegal action even though it is not detected at this time, surely one day it will also be revealed to the surface. nothing is eternal from illegal actions.
full member
Activity: 1638
Merit: 122
May 24, 2019, 02:18:45 PM
Don't buy illegal things over internet. Sooner or later you may end up at jail.

I agree that it's too dangerous to do illegal things through the Internet, but you can also be easily caught outside
Yes thats true . Its easy to be caught outside than being online because in the online world there are tools that we can use to mask our real identity . We can use proxies or vpns and we can use fake names , fake infos and voila , authorities will now have a hard time to detect you . Not just bitcoin but almost any cryptos can be used for dark markets and other dark uses since cryptos are a bit anonymous compare to other centralized online payments 
newbie
Activity: 112
Merit: 0
May 23, 2019, 01:48:40 AM
Don't buy illegal things over internet. Sooner or later you may end up at jail.

I agree that it's too dangerous to do illegal things through the Internet, but you can also be easily caught outside
hero member
Activity: 2996
Merit: 598
Leading Crypto Sports Betting & Casino Platform
May 20, 2019, 03:33:22 AM
1) Are you used Bitcoin to buy illegal staff Huh

2) which better to buy legal things  Bitcoin or Normal Bank system (PP,payeer,cash ,.............)

I do not frequent the dark web so I am not buying any illegal stuff because I am not into anything illegal being a law abiding citizen, I do buy stuff on a legal online store, but unfortunately, some of them do not offer Bitcoin transaction yet, but soon they are going to be, because cryptocurrency is the payment processor of the future.
hero member
Activity: 2814
Merit: 911
Have Fun )@@( Stay Safe
March 25, 2019, 03:41:47 AM
If people are rational then they know that this statement is dumb. I mean we all know that even before bitcoin existed,  fiat getting used for evil purposes has been going on until today. And I've read somewhere that only 1% of btc are really used for illegal things or crimes.
Let analysis the facts here, no one in the world has no clue how much fiat currency is used to illegal activities, might be more than a trillion dollars and it cannot be tracked but that is not the case with bitcoin, each and every transaction are edged in history and anyone can monitor every transactions made and if bitcoin is used for illegal transaction, it is like documenting your crime for everyone to see and the criminal end up facing jail time for his bravery. Cheesy
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