Topic: Dark use of Bitcoin - page 20. (Read 23460 times)

For one thing, Bitcoin was created to be used in a censorship resistant manner where no third party can consider what you are doing to be used for "bad" or "good".  This is especially important in countries where there is more unwanted regulation coming from governments and allows people to freely trade with one another in restricted countries.  This type of freedom is important yet comes with issues on it's own such as online crime... this doesn't mean it should be banned or anything just like physical fiat shouldn't be banned.

But if you are trying to use Bitcoin to remain anonymous and use it for online purchases of drugs or whatever, you are absolutely insane. Bitcoin, at best can be classified as pseudononymous because it inherently isn't fungible.  In order for Bitcoin to be fungible, every transaction, every address, every amount transacted should be hidden and obscured from prying eyes (or any type of block chain analysis). 

What this means is that I could accept Bitcoin from you and not have to worry about whether I can cash out into fiat, PM's, or whatever, on the off chance that you got your Bitcoins from someone using it on the dark web or not.  I don't have to worry about whether the bank will accept my $20 bill or not based on them analyzing the bill and seeing how much cocaine residue is on it based on the last guy who owned the bill's late night bender.

For number one, I mainly use my bitcoins primarily for investment purposes and for extra cash. I do not use it anywhere else, especially under the dark web for illegal transactions since I would've waste its potential. Considering bitcoin's decentralized nature, it is no wonder that there is this stigma that people think about bitcoin being illegal. Hopefully that mindset would change and shall be replaced with the opportunities it provide.

For number two, it really depends on your personal preference. Some people utilize bitcoin as a payment into paying for their monthly obligations or for paying it to retailers. This is also highly dependent on the shop that you are buying if they are accepting bitcoin as a payment. There is no problem using bitcoin or fiat as payment, but fiat is better with regards to the availability of shops, services, and trades accepting it as payment compared to bitcoin, being limited.

No, I'm not used to buy illegal stuff with Bitcoin. Bitcoin has another purposes for me. Nowadays, it's better to use fiat to buy most things as Bitcoin isn't accepted on most places where people are used to buy things and Bitcoin is a valuable currency that is gaining too much power these days, so I don't think it's a smart idea to use Bitcoins now, better to hold maximum as possible to enjoy the benefits from its price.

But it depends how and why you are using Bitcoins. For some people it's an investment, for others it's a full income source... On this second case Bitcoin is needed for almost things people need to buy, when not buying with BTC directly, exchanging into fiat first.

Nice try officer

Bitcoin is not so anonymous as you think and every government can follow all it's roads. For illegal activity there are other coins which are totally anonymous, which exchanged from bitcoin, and crypto currencies mixers

They can able to track down the transaction on where those funds go and moved but knowing the identity on such wallet would really be difficult to trace up no matter how you have on those resources that you do mention.
Negative aspects of bitcoin is always there because this is really a good tool for those criminals or people who do have really dirty intentions on making it on illegal stuffs.Dark use would be always there and criminals will surely switch because they know bitcoin is far more better than on those bank or fiat transactions.

Bitcoin provide anonymous transaction so it can't be trace easily but police still able to track down although they require more resource to find the suspect.
Because of this reason, my government still not legalize bitcoin in order to protect people from corruptor / money laundry etc

If the government is keen to identify a man who uses bitcoin in illegal business they will find it without problems. Modern technologies allow to do it easily. Bitcoin anonymous only indirectly. It seems to me that you can't blame bitcoin for all the ills. The responsibility of law enforcement agencies to find criminals. They get paid for it. To cover up their inactivity with bitcoin is wrong.

 bitcoin can be used to both ways but I prefer to buy legal things using it now unlike the dark past of bitcoin itself..

It actually depends on you, whether you use it to buy illegal or legal stuff. Although, I agree with many people that if you'll buy something illegal then better use bitcoins because you less tractability. However, if what you're pertaining to by 'illegal' are those government sanctions stuff, I doubt that you can buy just like that. Also, those people who deal those materials often would not want to deal using other means than cash. In terms of legal items, then it's up to you situation, if you have a lot of bitcoin holding and the establishment accepts bitcoin purchases and transactions, then by all means use them. However, if you feel it would be better to use money, then go for it as well.

if I have never bought a bitcoin myself I only use bitcoin as an investment and trading altcoin, and I prefer to use fiat money to buy goods because its value is stable, and if I buy goods using bitcoin with unstable value I worry when after paying with bitcoin suddenly the value of bitcoin rises, I think by paying with bitcoin I feel a loss with bitcoin price increase.

Bitcoin was used for sell-buy operations about illegal in the most of countries things from the most beginning. If to talk about myself - I didn't buy even a Mary Jane with bitcoin or cashed out coins. I have other more important to me things to spend my payments. But I will not be surprised to hear that many of the forum users spend their payments for easy drugs.

I agree, bitcoin can be traced by IP, but I am not sure if people use anonymity network, whether he/she still can be traced?

bit coin is not a currency. so we have to buy anything in the world with use of bit coin. who doing dark business like that people using bit coins. most of the country's not accept bit coin because reason is behind this. so that country government banned it in their country's. really most of the people using bit coin to buy illegal staff. because it has no tax and fee no need to calculations for the government. so most of the people interested for this site.

Don't kid yourself. Bitcoin is pseudo-anonymous.
Anybody can see which unspent outputs are used as inputs by a new transaction, and which address got funded. By seeing which unspent outputs are combined in a transaction, addresses can be coupled to wallets.

Since a lot of exchanges started to use KYC regulations, and everybody and their mother are logging ip's, allmost all your exchange activity's can be traced back to you.

To make things worse, as soon as you buy a physical good using BTC, you have to enter a valid address, pointing directly at yourself.

Even mixers don't provide 100% safety, since you don't know who's operating them, and by the ever increasing field of data mining and blockchain analysis, to some point, it's even possible to join together mixer's inputs and outputs (or so it seems... I've never done this myself, but i've read that theoretically, it's possible).

As for the OP's question: i've bought some marihuana seeds and a knife using BTC... It's not really illegal in my country (they were both purchased on legal webshops, using my real name and address), but those are the most grey-area things i've ever bought with BTC

I think it is one of the main reason why some countries dont really want bitcoin in their country. Because it could be easily acquired by unknown entity. Wether it would be used as good or bad, people could easily get funds if they invested or even mined it. Some are even making affiliation services with in banks. Like in our place where there is a site that is connected to all banks but is not within the government.

Calculations with illegal staff, the purchase of illegal goods most often occurs in cash. Stop spreading lies. Bankers and governments are trying to create public opinion about what bitcoin is used for illegal transactions. From your post it is clear that you never hired the staff. It is a fake.

I never bought illegal goods using bitcoin, let alone to buy illegal staff, I did not think so far to use bitcoin. I just buy bitcoin in a natural way and do not want to get into trouble with what I've bought.

So far I haven't made an illegal purchase with bitcoin. Actually there's no different to buy illegal using bitcoin and money chas. As long the seller receive cryptocurrency.

Do you mean illegal stuff ?

I have never used bitcoins to buy the illegal products and I think people should also make clean use of the bitcoins.