do you know about improper use of bitcoin? - page 4.

daarul50

legendary

Activity: 1596

Merit: 1034

Quote from: nursahath07 on November 16, 2017, 09:12:30 AM

according to different observation i think few ways are available for abusing bitcoins transections such as Technical weakness , Greedy peoples ro dishonest people , proper management. i would like to describe above mentioned quotatin in briefly
1. technical weakness: we know its a peer to peer transection system throgh confirmed way. within a few second a dishonest person can get more money by fast clicking when submit second payment of different recipient.
2. proper management: there is so many lack of proper management of human or account holders. so many hackers want to hack system for getting money because bitcoins holder don't have any insurance like bank account holders. even government don't follow rules and regulation for virtual currency holders.
So what you think about it ?

An excellent explanation for the weaknesses of bitcoin use and the risk of being a bit overwhelming. Weaknesses will always be covered with a solution and that's the function of the developer.

mattmct

sr. member

Activity: 546

Merit: 250

I have never used bitcoin illegally or improperly. I have come across bitcoin getting used into dark web, corruption, money laundering, for services that require anonymity in transaction. Now the improper usage of of bitcoin has decreased a lot and as a holding is getting more preferences. Even fiat is used improperly by the so called government who generated it.

creepyjas

sr. member

Activity: 854

Merit: 272

One type of improper use of Bitcoin is that it's involved in crimes. Mostly you can find about it on the deep web where underground transactions are made using Bitcoin as payment.

EnricoGomez

member

Activity: 238

Merit: 11

Yes, I do agree that, sadly, cryptocurrencies especially Bitcoin is used improperly and in illegal activities by both criminals and scammers.
Bitcoin truly should further improve its security to minimize its use on illegal activities. Or the government to impose rules and laws governing its use (but not control it).

XpanderaX

newbie

Activity: 110

Merit: 0

There is a group of people who act criminally in a country (I've heard, but forget which country it is) by using Bitcoin as a tool to buy and sell Marijuana. this is really outrageous, but luckily they've been caught by the local police!

Jingjess

full member

Activity: 336

Merit: 100

The Pure Proof-of-Tansaction [POT]

Quote from: nursahath07 on November 16, 2017, 09:12:30 AM

according to different observation i think few ways are available for abusing bitcoins transections such as Technical weakness , Greedy peoples ro dishonest people , proper management. i would like to describe above mentioned quotatin in briefly
1. technical weakness: we know its a peer to peer transection system throgh confirmed way. within a few second a dishonest person can get more money by fast clicking when submit second payment of different recipient.
2. proper management: there is so many lack of proper management of human or account holders. so many hackers want to hack system for getting money because bitcoins holder don't have any insurance like bank account holders. even government don't follow rules and regulation for virtual currency holders.
So what you think about it ?

The improper use of bitcoin is that they use it in any illegal transaction or activities such us buying drugs since bitcoin is anonymous payment so they take advantage of it.I hope this won't happen because this may affect the future of bitcoin.

knight20

member

Activity: 140

Merit: 12

Improper use of bitcoin can make a big trouble or crime like scamming and other cyber theft. The misunderstanding what bitcoin is could cause a risky decision. Like the lately news about the bitcoin scammed in the Philippines. About 900 million Php scammed by their investing site the New G. If you invest there your funds will increase so many people are joining there.

For more info visit this link http://www.arabnews.com/node/1283721/world

Bugsbey

newbie

Activity: 182

Merit: 0

Quote from: Pixyoxx on November 23, 2017, 01:49:01 AM

Improper use of bitcoin can be ascribed to criminal activities, cyber theft and attacks and other such hideous things. Because there is no identification of the buyer or seller other than there wallet adress, it is very popular among criminal minded cyber-active peoples to get away with it. Same is the case for cyber security threats and different kinds of ransomwares. Recently in the ransomware attack, the money asked was to be given in forms of butcoins only.

I agree. When bitcoin is use for illegal doings then that is improper way of using bitcoin. For me, bitcoin was made for good purposes. But there are some who abuse its characteristics of being so private. And some lazy people and idle minded abuse others privacy too.

cmacwiz

sr. member

Activity: 704

Merit: 270

Improper use of Bitcoin means illegal use of it. Due to improper use of Bitcoin many crime are conducted by anti social peoples. Many criminal activity like anti money laundering, kidnapping murdering child pronography etc are done with the help of Bitcoin. And this is done because of untraceable end to end money transaction facility of Bitcoin. In 2017 when malware attack occur to people Bitcoin play the big role in it. Million dollars are exchange with help of Bitcoin. Many scammer using Bitcoin for their dirty job.

Creating N Action

full member

Activity: 266

Merit: 102

Improper use of bitcoin is one of the main reason why other people can't reach the success. Improper use of bitcoin helps you to break you down or loosing your time and effort. It is useless and there's a tendency to loose your own money that's why make sure that the transaction has high security so that they can not steal money from investors. So hopefully, more security for the transaction to reduce theft and fraud.

nur rochid

full member

Activity: 1050

Merit: 100

Quote from: Crytptomeniac on April 05, 2018, 05:04:37 AM

I don't know personally but I think there are always people out there who abuse things no matter how good that thing is, there are people who use it to scam others and carry out crimes which hurts the market.

which many become the topic of bitcoin abuse is money loundry, terrorism fund transfers, and price games. many governments are considering it before btc is legalized in their country

Crytptomeniac

newbie

Activity: 240

Merit: 0

I don't know personally but I think there are always people out there who abuse things no matter how good that thing is, there are people who use it to scam others and carry out crimes which hurts the market.

iMark

sr. member

Activity: 1162

Merit: 251

Quote from: Gameroid on April 01, 2018, 12:05:19 PM

Quote from: jemarie20 on April 01, 2018, 10:27:21 AM

Yes! bitcoin is digital currency that can we use as money because bitcoin is accepted as means of of payment of a something, so in that case some criminal take advantage the modern world and they use bitcoin in their illegal activities like buying illegal firearm and a like.

The use of bitcoin is currently too much limited and therefore most of the people do not have the ability to use bitcoin for shopping or for other such purposes and therefore i personally do not think people may even have chances to use bitcoin for criminal activities. I think currently it may be too much beneficial for them to use bitcoin for their criminal activities.

actually we can not have the ability to see if other users are using bitcoin to spend something that is fine and do not break the law, we don't have that power to it but I think it is public secret that some users may use bitcoin and take advantage of anonymous facilities and decentralization for the improper and unlawful

boksoon

newbie

Activity: 266

Merit: 0

Quote from: nursahath07 on November 16, 2017, 09:12:30 AM

according to different observation i think few ways are available for abusing bitcoins transections such as Technical weakness , Greedy peoples ro dishonest people , proper management. i would like to describe above mentioned quotatin in briefly
1. technical weakness: we know its a peer to peer transection system throgh confirmed way. within a few second a dishonest person can get more money by fast clicking when submit second payment of different recipient.
2. proper management: there is so many lack of proper management of human or account holders. so many hackers want to hack system for getting money because bitcoins holder don't have any insurance like bank account holders. even government don't follow rules and regulation for virtual currency holders.
So what you think about it ?

Many different types of improper use of bitcoin like Gambling it doesn't help to poor but benefited for the few rich people, funding for terrorism, override the name of bitcoin for purpose of stolen of money from investor.

TiffanyLien23

full member

Activity: 350

Merit: 107

The improper way to use bitcoin that i know is that it is being used for illegal activities. Mostly the deep web users, they use bitcoin to buy and sell drugs,guns and even a service as a hitman. That's why many people hates bitcoin because of improper using it. The latest thing i know that is hit by this was bitmixer.io because almost all of the dark web user use this to erase their track.

bitgolden

legendary

Activity: 2926

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: jemarie20 on April 01, 2018, 10:27:21 AM

Yes! bitcoin is digital currency that can we use as money because bitcoin is accepted as means of of payment of a something, so in that case some criminal take advantage the modern world and they use bitcoin in their illegal activities like buying illegal firearm and a like.

In my opinion, bitcoin has nothing to do with where you use it. It is up to the person who has bought those bitcoins like where he is going to spend those bitcoins. There are likely chances that you can use the bitcoins in some criminal activities but in that case, you can’t blame bitcoin because then it will be the fault of the person who did so. We need to avoid such kind of use of bitcoin.

Gameroid

hero member

Activity: 798

Merit: 501

Quote from: jemarie20 on April 01, 2018, 10:27:21 AM

Yes! bitcoin is digital currency that can we use as money because bitcoin is accepted as means of of payment of a something, so in that case some criminal take advantage the modern world and they use bitcoin in their illegal activities like buying illegal firearm and a like.

The use of bitcoin is currently too much limited and therefore most of the people do not have the ability to use bitcoin for shopping or for other such purposes and therefore i personally do not think people may even have chances to use bitcoin for criminal activities. I think currently it may be too much beneficial for them to use bitcoin for their criminal activities.

Flyne d Coin Digger

newbie

Activity: 84

Merit: 0

Bitcoin usage when fully accepted by society like me, it has a huge help when it comes to transactions bit when Bitcoin is misused then disaster comes, just imagine a criminals paid through online with crypto and they will do bad jobs in exchange of it. (Did my imagination just gat wild?)

jemarie20

member

Activity: 434

Merit: 10

Yes! bitcoin is digital currency that can we use as money because bitcoin is accepted as means of of payment of a something, so in that case some criminal take advantage the modern world and they use bitcoin in their illegal activities like buying illegal firearm and a like.

berungan

newbie

Activity: 124

Merit: 0

This bitcoin virtual currency is decentralized and unregulated and is not guaranteed by the central authority.
So terrorists and criminals also use cryptocurrency to their group advantage, because the transaction here is not kept awake, so it can not be traced.

Topic: do you know about improper use of bitcoin? - page 4. (Read 1752 times)