How do you feel about the negative reputation of the bitcoin currency? - page 4.

n2004al

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Quote from: ashour on October 20, 2015, 07:55:57 AM

The negative reputation of bitcoin is tight to mt.gox and silk road. People think that bitcoin is mostly used to buy drugs and weapons. But in reality bitcoin is more than a financial tool to obtain drugs.

This is true. But even after Silk Road the use of bitcoin in the Dark Web is enormous. According to CoinDesk "Dark Web Markets Processed More Bitcoin than BitPay in 2014". Following some data from this article:

"... Kyle Soska and Nicolas Christin from Carnegie Mellon University revealed that even by conservative estimates the daily sales volume of six large-scale dark markets reached up to $650,000 in 2014.

The bitcoin merchant processor's self-reported annual total, $158.8m, would produce a daily average of around $435,000."

More can be found here: http://www.coindesk.com/dark-web-markets-processed-more-bitcoin-than-bitpay-in-2014/

So the people have right in thinking that bitcoin is used mainly from the criminals and culprits. The only thing that can fight this is the regulations of bitcoin. In this way, bitcoin will be known by to many other kind of people, will be owned and used by them and will be not more only an illegal currency used by the above firsts people.

As for being more than a financial tool to obtain drugs this is more hard to be understand and explained because even to many of us which have time in learning and using it is hard to find which of its technological qualities can (might) be used or have importance in the real life except being an currency.

ashour

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The negative reputation of bitcoin is tight to mt.gox and silk road. People think that bitcoin is mostly used to buy drugs and weapons. But in reality bitcoin is more than a financial tool to obtain drugs.

anthonycamp

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you take this too seriuse i mean its just money every one can do crime even with fiat and fiat its more used still to crime and terror but the gate of btc for anonimous its big and the crime can occur too much wee need control a bit but as i say its just money and i still do it for the fun not for crime like many otheres.

codishmumu

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Quote from: n2004al on October 20, 2015, 06:51:35 AM

Quote from: codishmumu on October 18, 2015, 07:24:48 AM

Quote from: Eastwind on October 16, 2015, 04:58:20 AM

When bitcoin is regulated properly, the reputation will improve further even though I think bitcoin has quite good reputation now.

I don't want it to be regulated.

Wrong approach if you want that bitcoin go forward. Without regulations and legalization it will be never a future for it. No one country will accept it. Then where is the problem of regulation? If you are a criminal or want to hide something bad I can understand your point of view but if you are a normal people it will be the same. If you want to change bitcoin nowadays almost all the exchanges now (anywhere you are or they are) ask for your identity and proofs about it. If you want bitcoin (and are not a miner) you must buy it. Can be bought in an exchange which will want your identity and the proofs of it. Your anonymity is gone with this action.

So the only thing that can made the people to not accept the regulation its the power of bitcoin to not reveal the identity of the owner; otherwise called anonymity. This specific is already gone. So why not the regulation when ask nothing and give to much to it?

Fine. I'm okay with that I guess.

n2004al

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Quote from: codishmumu on October 18, 2015, 07:24:48 AM

Quote from: Eastwind on October 16, 2015, 04:58:20 AM

When bitcoin is regulated properly, the reputation will improve further even though I think bitcoin has quite good reputation now.

I don't want it to be regulated.

Wrong approach if you want that bitcoin go forward. Without regulations and legalization it will be never a future for it. No one country will accept it. Then where is the problem of regulation? If you are a criminal or want to hide something bad I can understand your point of view but if you are a normal people it will be the same. If you want to change bitcoin nowadays almost all the exchanges now (anywhere you are or they are) ask for your identity and proofs about it. If you want bitcoin (and are not a miner) you must buy it. Can be bought in an exchange which will want your identity and the proofs of it. Your anonymity is gone with this action.

So the only thing that can made the people to not accept the regulation its the power of bitcoin to not reveal the identity of the owner; otherwise called anonymity. This specific is already gone. So why not the regulation when ask nothing and give to much to it?

codishmumu

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Quote from: Hellacopter on October 18, 2015, 05:35:08 PM

Quote from: Pab on October 18, 2015, 05:07:07 PM

i dont care about it,people dont know about bitcoin,mainstream media are delivering only some news to read them,there is more easy to sell bad news.You can ask ordinary peopleabout btcandwhat they think about fiat money,printing,frauds,speculations,about btc thay mostly dont know,,dont know is not bad reputation,fiat money,thay want them

Yes many people still till now even without any idea about what's Bitcoin currency, it's not so famous like the other currencies, till now at least, and then we can't talk about "bad reputation" of Bitcoin

I suppose. I just feel it'd be a good idea to have our stories straight and our image shaped into a positive aesthetic before we even push ourselves out there.

jeffthebaker

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Bitcoin, or rather the community backing it, hold an extremely poor reputation with the rest of the internet and the rest of the world. I actually just posted about this in a similar thread, I'll paste the comment for those interested in the elaboration:

I think a big thing that's stopping people from giving Bitcoin a shot is the public's perception of the community that backs it. The average joe either doesn't know what Bitcoin is, or sees it as internet money used to buy drugs and weapons. The rest of the internet sees Bitcoiners as a cult and generally regarded as the laughing stock of the internet.

Hellacopter

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Quote from: Pab on October 18, 2015, 05:07:07 PM

i dont care about it,people dont know about bitcoin,mainstream media are delivering only some news to read them,there is more easy to sell bad news.You can ask ordinary peopleabout btcandwhat they think about fiat money,printing,frauds,speculations,about btc thay mostly dont know,,dont know is not bad reputation,fiat money,thay want them

Yes many people still till now even without any idea about what's Bitcoin currency, it's not so famous like the other currencies, till now at least, and then we can't talk about "bad reputation" of Bitcoin

Pab

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i dont care about it,people dont know about bitcoin,mainstream media are delivering only some news to read them,there is more easy to sell bad news.You can ask ordinary peopleabout btcandwhat they think about fiat money,printing,frauds,speculations,about btc thay mostly dont know,,dont know is not bad reputation,fiat money,thay want them

Amph

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Quote from: codishmumu on October 18, 2015, 07:24:48 AM

Quote from: Eastwind on October 16, 2015, 04:58:20 AM

When bitcoin is regulated properly, the reputation will improve further even though I think bitcoin has quite good reputation now.

I don't want it to be regulated.

well it's already regulated in some country, and we are not certainly in position to decide, but if regulation will help adoption, why not?

despite the regulation there will be always a way to avoid tax, it's actually impossible to regulate bitcoin at 100% no matter what they do

codishmumu

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Quote from: Operand on October 15, 2015, 05:26:03 PM

Despite all these "dark" services and products that can be purchased with BTC that culminates in a supposed negative reputation, it shouldn't really overshadow its positive values; think about how much the field of cryptocurrency has evolved throughout its short history and the lives it has changed, its almost like a financial revolution. It's reputation has grown to the point where even a university in the UK has opened up an institute dedicator for crytocurrency too.

Cool. Links please?

codishmumu

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Quote from: Eastwind on October 16, 2015, 04:58:20 AM

When bitcoin is regulated properly, the reputation will improve further even though I think bitcoin has quite good reputation now.

I don't want it to be regulated.

Eastwind

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When bitcoin is regulated properly, the reputation will improve further even though I think bitcoin has quite good reputation now.

Operand

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Despite all these "dark" services and products that can be purchased with BTC that culminates in a supposed negative reputation, it shouldn't really overshadow its positive values; think about how much the field of cryptocurrency has evolved throughout its short history and the lives it has changed, its almost like a financial revolution. It's reputation has grown to the point where even a university in the UK has opened up an institute dedicated for crytocurrency too.

jaberwock

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Quote from: codishmumu on October 07, 2015, 09:17:13 AM

As I'm sure you all know, Bitcoin is a currency that allows users to make money or send money anonymously, with little to no concern of the government taxing your hard earnings, and not being able to know what a trade is revolved around. Bitcoin as of now has a reputation of being a dangerous asset to the world of illegal transaction (theft, scams, and overall illegal activity). There has been proof that bitcoins and other currencies similar such as altcoin and so on have been continuously tied to illegal activity.

My concern as an interested participant in the act to make this currency a well occupied currency is being threatened and truly compromised by people who still to this day sell and purchase illegal substances, and services. I constantly read people's trust commentary pages on how some users are "pedophiles" or sell stolen property. My only wish is that we get our acts together as adults, and prove to society that we are not criminals. We are just people that enjoy our privacy, enjoy being what we want, and enjoy freedom. Thank you.

Your thoughts?

Bitcoin is not anonymous, there are some ways that your addresses may be linked to your identity if people with power really want to. Of course most of the times they don't so you are more or less safe.

To buy BTC you will have to use an exchange or buy from someone, so you'll leave traces behind.

If you earn lots of BTC you'll have to use banks accounts and probably will buy expensive things, so you will leave traces behind

And cash is much more used to buy illegal things, I've never heard of a big BTC stash found with a big druglord

Daniel91

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I don't care really.
I'm stubborn person and always doing things in my own way .)
When bitcoin becomes mainstream and its value increases significantly, I will laugh to all the skeptics who did not listen me and join when I invited them.

maokoto

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✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪

As for reputation, I do not like to be told "that is very risky" (with a glance at me that seems to tell I am involved in criminal activity) when I tell someone about Bitcoin. It is as if people thought that Bitcoin are illegal per se due to what they have heard in the news.

Some success stories of NGOs or people helping other with Bitcoin would be good in order to change that.

n2004al

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Quote from: neurotypical on October 14, 2015, 11:38:35 AM

It's a good sign...

just look at the internet early days, remember when if you used the internet in the mid 80's you were a criminal, outcast, geek, weirdo.. whatever?
When you are something that is against the current train of thought and you can see potential behind it, you are on the winning team.

This reasoning is not always right. You may not be able to understand or see well. In that case you are from the part of the losers. This is an overvaluation of the proper capacities.

But even when your reasoning could be right and you are alone the others will see you as a different (the best of cases) will leave leave you always alone. And being alone you can't do nothing. So the bad reputation cannot not always can be a good sign.

The bad reputation take away from bitcoin all the good things and this is wrong. Bitcoin need for those. Alone cannot be made nothing.

Q7

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Actually it has nothing to do with bitcoin. If bitcoin can be used for ilegal activities so does fiat but why singled out bitcoin as the culprit. All these are because people do not get enough information and thus speculate on their own. The media are also partly to blame for all this but for them as long as the news sells it is good enough.

prodigy8

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I feel good and bad at the same time,
Bitcoin is just a form of payment methods, and it can be used for anything like fiat.
You can scam, steal or any bad things with fiat money too, so need to state that bitcoin is illegal activity.

Topic: How do you feel about the negative reputation of the bitcoin currency? - page 4. (Read 5987 times)