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Topic: How police think about Bitcoin enthusiasts ? (Read 3776 times)

legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
The only thing that make us bitcoin enthusiasts bad is by those criminals using bitcoin in deep web for illegal transactions like selling drugs, selling illegal fire arms and other stuff but they other police did not know that majority of the bitcoin enthusiast use it for good things like making it a part time job to earn some money from trading and investment sites.

How do you know "majority of the bitcoin enthusiast use it for good things". There is pretty much no market in the world that exclusively caters to Bitcoin users other than the dark web and Silk Road type sites. If I were going to take a wild guess (which is what you did) I would guess that a few people are using it for legitimate purposes like investments and the bulk are using it for illegal purposes.

True, not all users of the bitcoin use it for things that are bad (Mafia, Illegal Commercial, illegal, and dangerous). I also think that those who say that Bitcoin users always doing dangerous deals, it is the people who have eaten or Violent movies too often or perhaps he feared innovations!

Yes, I'm absolutely positive Bitcoin is used for investment purposes (because I'm doing that and so are many people on this forum).

The problem is that we investors and speculators don't keep the economy rolling along. Day to day use makes an active healthy economy. The only places I can think of that promote active healthy use of Bitcoin is dark markets. You can't do your weekly grocery shopping with Bitcoin but way back in the 70s when I was a stoner I know I needed a bag of weed every week and Bitcoin works well for that.
legendary
Activity: 1134
Merit: 1000
When it comes to a crime, what would the police think about a guy trading with bitcoins frequently in large volumes ?(hundreds of BTCs)

I've heard they can't stand bitcoin dealers out and they become a suspect immediately with no questions asked in case there's a crime where the bitcoin enthusiast is involved. Is that true ?

I think that think two things. Most of polices think like think their chief. That the guy is making something illegal and must be punished. Then there are few who think with their head and will think that the guy is doing a business which can be even illegal for the moment but that in the future can be a normal one like the trade with the other money.
hero member
Activity: 756
Merit: 500
The only thing that make us bitcoin enthusiasts bad is by those criminals using bitcoin in deep web for illegal transactions like selling drugs, selling illegal fire arms and other stuff but they other police did not know that majority of the bitcoin enthusiast use it for good things like making it a part time job to earn some money from trading and investment sites.

How do you know "majority of the bitcoin enthusiast use it for good things". There is pretty much no market in the world that exclusively caters to Bitcoin users other than the dark web and Silk Road type sites. If I were going to take a wild guess (which is what you did) I would guess that a few people are using it for legitimate purposes like investments and the bulk are using it for illegal purposes.

True, not all users of the bitcoin use it for things that are bad (Mafia, Illegal Commercial, illegal, and dangerous). I also think that those who say that Bitcoin users always doing dangerous deals, it is the people who have eaten or Violent movies too often or perhaps he feared innovations!
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
The only thing that make us bitcoin enthusiasts bad is by those criminals using bitcoin in deep web for illegal transactions like selling drugs, selling illegal fire arms and other stuff but they other police did not know that majority of the bitcoin enthusiast use it for good things like making it a part time job to earn some money from trading and investment sites.

How do you know "majority of the bitcoin enthusiast use it for good things". There is pretty much no market in the world that exclusively caters to Bitcoin users other than the dark web and Silk Road type sites. If I were going to take a wild guess (which is what you did) I would guess that a few people are using it for legitimate purposes like investments and the bulk are using it for illegal purposes.
sr. member
Activity: 350
Merit: 250
The Blockchain Evolution of Prediction Markets
The only thing that make us bitcoin enthusiasts bad is by those criminals using bitcoin in deep web for illegal transactions like selling drugs, selling illegal fire arms and other stuff but they other police did not know that majority of the bitcoin enthusiast use it for good things like making it a part time job to earn some money from trading and investment sites.
Yeah ,exactly chief .because bitcoin abuse so much by illegal use and the fact that bad doing have a big impact than good doings .we are doing good things but they don't recognizes it some of the bitcoin holders deal with underground markets as you said.
sr. member
Activity: 364
Merit: 250
The only thing that make us bitcoin enthusiasts bad is by those criminals using bitcoin in deep web for illegal transactions like selling drugs, selling illegal fire arms and other stuff but they other police did not know that majority of the bitcoin enthusiast use it for good things like making it a part time job to earn some money from trading and investment sites.
sr. member
Activity: 364
Merit: 250
Here, there's nobody think about bitcoin user. They even don't know about bitcoin or don't want to know. Usually in modern area, police suspect bitcoin enthusiasts especially big transaction as fraud or criminal. It's not just bitcoin user, if you withdraw big amount of money, you will be suspected by bank.
legendary
Activity: 3374
Merit: 1824
Lol in some near by country of mine, Police don't even know what bitcoin is, let alone them be suspicious of anyone, even in my country they don't know a lot about bitcoin, and internet arrests I have never heard about any arrest of such kind, based on bitcoin usage in deep web. I think we are pretty safe in this country of "meraviglie" miracles Smiley

It's the same in my country as well Smiley
We don't have much bitcoin users and generally people have no idea about Bitcoin.
So, I'm sure that we don't need to be afraid from police because of Bitcoin.
Even if i will try to explain them, I'm not sure if they will understand.
Even if they will understand, there is no law about Bitcoin in my country, so no worries Smiley
copper member
Activity: 1442
Merit: 529
Lol in some near by country of mine, Police don't even know what bitcoin is, let alone them be suspicious of anyone, even in my country they don't know a lot about bitcoin, and internet arrests I have never heard about any arrest of such kind, based on bitcoin usage in deep web. I think we are pretty safe in this country of "meraviglie" miracles Smiley
member
Activity: 78
Merit: 10
They surely think that it is something weird, but they won't put you in jail, because it isn't prohibited, if that's what you want to know.
legendary
Activity: 1638
Merit: 1010
https://www.bitcoin.com/
I didn't read every posts here so someone may already have mentioned it but if you want to know the answer to your question why don't you ask BurtW how he was treated, i think the cops even robbed his kids piggy bank if i remember correctly.
full member
Activity: 210
Merit: 100
are you talking about a specific police or about police department, the police what if instructions from higher authority but I think they no such instructions about bitcoin. so I think they remain calm and cool
full member
Activity: 196
Merit: 100
I think the police ngativno refers to Bitcoin enthusiasts. After all, their activity is connected with the fight against crime. A crime like this is not enough, use Bitcoin in their dirty work. Suffice it to read the news reports:
-"In Spain arrested 30 suspected of laundering money through Bitcoin centers"
-"Taiwanese police conducted related arrests Bitcoin"
-"NYPD awarded for investigating Bitcoin-crimes"
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
I just asked a cop friend what he believed about bitcoin people.  He said he believes they were all criminals or hiding  something and he suspicious whenever he meets one.

So I'm assuming now that he's placed you behind bars you're using your internet privileges? Is that kind of like your one phone call?

No, but I do think he looks at me a little more critically than he used to.
legendary
Activity: 1382
Merit: 1122
I just asked a cop friend what he believed about bitcoin people.  He said he believes they were all criminals or hiding  something and he suspicious whenever he meets one.

So I'm assuming now that he's placed you behind bars you're using your internet privileges? Is that kind of like your one phone call?
legendary
Activity: 1526
Merit: 1179
If someone is trading huge amounts of Bitcoins on a daily basis that will certainly raise some red flags for the police and they will probably put the traders under surveillance so as to determine the source of the funds and if the money was obtained legally in the jurisdiction the suspects are in but I don't think this would automatically make any high-profile Bitcoin enthusiast a criminal. Actually there are special police departments that investigate cyber crime and digital heists and fraudsters so they are probably very well aware of the current criminal cases on the Bitcoin scene. The lower-level policemen wouldn't understand how Bitcoin works and they shouldn't be investigating things they don't know anything about because that is just preposterous  Wink

I agree with everything said here.  

You can bet that if you are trading large amounts of BTC daily that someone knows.  If you file and pay appropriate taxes it should not be a problem and it makes your trading legitimate.
It also depends on which exchange you are using to do your trading at.

BTC-E for example doesn't force you to verify yourself in order to use their exchange.

It means that there is no personal information that the exchange has about you beside your IP address.

But then again, that exchange has been operating like it does for years. They won't work together with governments to hand them over your IP address and your trading history.

I thought btc-e required identification and proof of address for wire transfers. Are they not actively enforcing that rule?
I don't know that as I have never cashed out fiat with BTC-E.

What I do is :

# Deposit BTC in my account and sell a good chunk to get fiat in my account.
# Trade untill I have made enough profit.
# Convert all fiat to BTC and then cash out my entire BTC balance to my wallet address.
# Sell coins to receive the money in my bank account through various available services here in my country.

No one can proof that I have made profit where I need to pay tax over.

To make it even more anonymous you can even choose to sell your coins P2P as you then don't need a bank account to receive your money on.

legendary
Activity: 924
Merit: 1132
Buying and selling bitcoin is in fact "trading a marketable asset for profit" - which means a dealer who does this a lot does in fact come under KYC laws, mandatory reporting statutes, and, yes, taxes.

If the police know that you buy and sell an average of a dozen bitcoins daily, and you haven't been jumping through all those hoops, then yes they can arrest you and yes, if they can seize your wallet they will.

They probably won't bother arresting you though, unless they're pretty sure they can get the keys to your wallet.  Not worth their time if they can't get the forfeiture money. 

Laws?  What, you thought they were there to enforce laws?  Well, sort of.  But they are certainly more motivated to do so when it's profitable.
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
 I just asked a cop friend what he believed about bitcoin people.  He said he believes they were all criminals or hiding  something and he suspicious whenever he meets one.
sr. member
Activity: 294
Merit: 250
When it comes to a crime, what would the police think about a guy trading with bitcoins frequently in large volumes ?(hundreds of BTCs)

I've heard they can't stand bitcoin dealers out and they become a suspect immediately with no questions asked in case there's a crime where the bitcoin enthusiast is involved. Is that true ?
No,that's not true,even  bitcoin not a legal payment,but we are as bitcoin trader can trade bitcoin without any fear of police law Or being arrested,as long goverment not ruled that hold Or use bitcoin as crime,i think we Will fine..
hero member
Activity: 546
Merit: 500
I honestly do not think they are really hating on it but I also do not know what they are thinking.
The most will most likely think its a criminal network currency, and used to buy all kind of things with anonymous.
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