How is bitcoin supposed to be? - page 3.

Ridwan Fauzi

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Quote from: Danilotot on August 11, 2018, 03:49:02 AM

sorry but i do not get what you want to say? bitcoin is a kind of coins that are inside the crypto, it is the first to enter the currency first. bitcoin is worth a lot, can I imitate what you want to say?

Do you read this question before?

Quote

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime

Have you understood?
I will provide conclusions intended by OP, many people used bitcoin as an illegal transaction so as it will make the government worried to adopt bitcoin as a payment system.

This case is often discussed in this forum, the government wants a secure payment system. There is no negative element to the payment system, while bitcoin which has a decentralized system and every bitcoin user is free to falsify their identity to create a wallet, so the government will find it difficult to track down users who are using illegal transactions using bitcoin, even though this case would be the same if someone did illegal transactions using money fiat, but at least this case will be used by the government as an excuse to not adopting bitcoin in their country.

belimblink

newbie

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I think we don't need to worry about that, because, today more and more records are in the bitcoin industry, and it's becoming increasingly clear and can be said that the use of bitcoin for illegal activities will be increasingly traceable.

Danilotot

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sorry but i do not get what you want to say? bitcoin is a kind of coins that are inside the crypto, it is the first to enter the currency first. bitcoin is worth a lot, can I imitate what you want to say?

Irvinn

full member

Activity: 966

Merit: 104

Quote from: CDAnggoro on April 11, 2018, 01:32:36 AM

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime.

According to studies, bitcoin for illegal purposes is used from one to ten percent of cases. This is a very small percentage. All advanced technologies, and even just sharp objects are used by criminals. Maybe we will not allow people to have kitchen knives, they are very often used by criminals for murders?
This problem with the use of bitcoin for criminal purposes is absolutely conceived. It is very beneficial for states and banks to further use this topic and restrict it in circulation, or even ban the decentralized crypto currency and, above all, bitcoin.

hulla

hero member

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Quote from: Amyotocta on August 10, 2018, 08:27:36 AM

There is no regulation that will stop criminals from using it in the wrong way.

You're definitely right with what you said and i dont believe either that the KYC can stop illegal transaction and criminal using crypto currency because people can create fake passport and documents which they will used for their KYC registration. Therefore, I believe the government are trying to use it to control crypto currency cause the government can still use the process used by the FBI to nab illegal transaction.

Yusuf_Jay

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Activity: 37

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I think KYC is a principle that can be applied to this problem, although it may there a worry from bitcoin users about their personal data can be leaked to the public.

But, what I understand about KYC is does not mean to know the user literally, but the KYC principle wants more comprehensive information in addition to the user's identity, namely matters relating to the profile and character of the transaction carried out. I think this will be useful for monitoring suspicious user transaction activities.

YinShuiSiYuan

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Activity: 1680

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Quote from: wer9d25gqj on April 11, 2018, 11:01:39 AM

Quote from: CDAnggoro on April 11, 2018, 01:32:36 AM

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime.

Im starting to think that bitcoin was made for crimes, maintained by great minds.

This statement is very harmful for the crypto environment. Each currency can be used for criminal activities. Fiat money has been used for all types of fraud for years. It is simply necessary to take measures to limit this type of activity.

Yurkov

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Pepemo.vip

Quote from: Amyotocta on August 10, 2018, 08:27:36 AM

There is no regulation that will stop criminals from using it in the wrong way.

It is just the same like with normal money, it will be always use in good and bad ways, crypto is just the same and we cannot do anything with that kind of situation.

Saveplus

full member

Activity: 322

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Just like in the bank to avoid criminal activities ,bitcoin need to know more about his investors if he or she can afford to invest those large amount of money or what is the capabilities of every bitcoiners who joined in cryptocurrency.Bitcoin is like money that can used in any criminal activities just like what they said KYC "know your client"rule is a proven test for avoiding those people who used bitcoin in their bad habit.

marcbitcoins

full member

Activity: 854

Merit: 108

Quote from: CDAnggoro on April 11, 2018, 01:32:36 AM

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime.

I think the most likely answer is KYC for the investors in which it is proven effective until today as the government can easily track the Bitcoin holders and investors background. Then for ICOs they should required KYC and SEC regulations to ensure that the facilitators are legit persons with real projects.

jossiel

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Bitcoin isn't the only currency that's being used by the criminals. However, the government is keep on pushing that title just to have a reason to stop its adoption.

Quote from: jrrsparkles on July 31, 2018, 10:28:34 AM

Money can be used for anything so bitcoin also can be used for anything as well so there is no exception for the criminals.THey can use the bitcoin even worse but the thing is that they can't lot of bitcoin in anonymous way ,they need to use banks at that time they can be caught.But if you ask me the governments needs to stop the crimes it is unfair that people blame bitcoin for crimes.

It is now a taboo to some countries but let them be while the countries that understand what bitcoin really is are adopting it.

milewilda

legendary

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Quote from: mrcash02 on July 30, 2018, 05:46:32 PM

I really don't understand this fetish people have about implementing regulations everywhere... You ask how Bitcoin is supposed to be and then start talking regulations are a must otherwise governments will ban it and the price will fall. I believe Bitcoin is supposed to have nothing to do with regulations. You have Blockchain system and it's already public and transparent for all, so what regulation do you need?

The thing comes to their mind on where if regulation would be add up it can increase bitcoins price but it is not really necessary at all yet bitcoin can stand on its own even government would decide to ban it.
When we do tend to read up WP of Bitcoin then even just reading up the first 2 paragraph then we would really know the true usage of bitcoin but people do push further into things
which totally contrary on btc main purpose.

jrrsparkles

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Activity: 2520

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Quote from: pabpete on July 31, 2018, 07:56:57 AM

For me this cannot be stoped, look at normal cash, do people do something to avoid using money to be used in crimes? Not. The same is with coins, we should find the way to make the law stronger and make the people to live a good life but not find a "mistakes" in ways of payments cash/ coins.

Money can be used for anything so bitcoin also can be used for anything as well so there is no exception for the criminals.THey can use the bitcoin even worse but the thing is that they can't lot of bitcoin in anonymous way ,they need to use banks at that time they can be caught.But if you ask me the governments needs to stop the crimes it is unfair that people blame bitcoin for crimes.

pluMmet

sr. member

Activity: 588

Merit: 251

Quote from: davis196 on April 11, 2018, 01:42:39 AM

Quote from: CDAnggoro on April 11, 2018, 01:32:36 AM

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime.

The "right" regulations would be all the new rules that remove the anonymousy of btc transactions.
"Know your customer" policies and ID verifications would become mandatory for all online bitcoin wallet services and all exchange platforms.The harder for criminals to stay anonymous ,the better for the bitcoin community.I know that a lot of crypto supporters hate the KYC regulations,but there`s no other way to reduce the crimes and fraudulent activities with btc involved.

for the value I think bitcoin has been like this is quite profitable for some circles, whether the investors or trade, because for the miners will not have a big effect, but the need to set up the deficiencies and weaknesses of bitcoin can be overcome so some actions we do not want will occur, the taxation system may be applied but reasonably.

pabpete

sr. member

Activity: 539

Merit: 255

For me this cannot be stoped, look at normal cash, do people do something to avoid using money to be used in crimes? Not. The same is with coins, we should find the way to make the law stronger and make the people to live a good life but not find a "mistakes" in ways of payments cash/ coins.

Carol Jones

newbie

Activity: 88

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My personal opinion is that cryptos have to be like AML Bitcoin, which has Worldwide regulation compliance, Transparency of transactions, and many other good things most of the current cryptos don't have.

mrcash02

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I really don't understand this fetish people have about implementing regulations everywhere... You ask how Bitcoin is supposed to be and then start talking regulations are a must otherwise governments will ban it and the price will fall. I believe Bitcoin is supposed to have nothing to do with regulations. You have Blockchain system and it's already public and transparent for all, so what regulation do you need?

yeezycheezy

member

Activity: 476

Merit: 10

Cryptoknowmics - World's First Decentralized Media

for me its supposed to be our future money and money of all unites

Tigorss

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Activity: 308

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Quote from: davis196 on April 11, 2018, 01:42:39 AM

Quote from: CDAnggoro on April 11, 2018, 01:32:36 AM

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime.

The "right" regulations would be all the new rules that remove the anonymousy of btc transactions.
"Know your customer" policies and ID verifications would become mandatory for all online bitcoin wallet services and all exchange platforms.The harder for criminals to stay anonymous ,the better for the bitcoin community.I know that a lot of crypto supporters hate the KYC regulations,but there`s no other way to reduce the crimes and fraudulent activities with btc involved.

the first bitcoin weaknesses are the absence of regulators, all free to use them from different countries, because this is the bitcoin is often a form of crime theft because it is a very big value, and the function of government regulate or must be the rule for biicoin to avoid this crime.

USDOLLAR

newbie

Activity: 98

Merit: 0

In my thought owner of bitcoin should register itself as per guideline provided by the government or central bank of the country. Legal way is the only way to approve bitcoin supposed to be as an alternate payment tool by the countries. To open up huge chances of bitcoin through use of latest, fast and safe system.

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