Topic: Illegal use of Bitcoin affecting its value? - page 4. (Read 7882 times)
I think it will affect in some extent becuase of more serious limitation by govenment.
Many people think bitcoin is anonymous and use bitcoin for illegal activities.Bitcoin transaction aren't monitored by particular authorities doesn't mean no one is doing so,committing Btc related illegal stuffs could throw you inside bars anytime.
You should probably separate btc from the crime. Committing illegal stuff (with any mode of transfer) could throw you behind bars.
I think not only illegal use of bitcoin affecting its value but also legal use can affecting its value, so the more people are use bitcoin, the more can be affecting its value, it depends on how often bitcoin is used for transaction ...
hopefully it is used only for legally
hopefully it is used only for legally
Many people think bitcoin is anonymous and use bitcoin for illegal activities.Bitcoin transaction aren't monitored by particular authorities doesn't mean no one is doing so,committing Btc related illegal stuffs could throw you inside bars anytime.
I think it is, but it is probably increasing it's value as people buy large quantities of bitcoin so they can stay anon.
Right that since transacting in BTC is anonymous, it can be used by the bad guys on its maximum. 
Well, it's considered to be *pretty* anonymous. Given some work, and enough people, it's still quite possible to trace a transaction back (even if you use multiple addresses). Blockchain sleuthing is something one of my friend likes to do in his spare time, actually o_o
It is very easy for NSA and FBI to find out your identity if you do doggy thing with bitcoin.
But would it be worth the effort involved?
Even after Silk Road has been shut down, is the FBI going after individuals who purchased small quantities of pot?
No, because it is probably not worth it.
They will want to make an example to discourage drug users from buying illegal substance online.
True. They might want to make an example of some people. But would they try and go after all of them?
Since most of the silk road bitcoins went to Mt Gox/other exchanges, the Fed could theoretically subpoena the exchanges, and get all their addresses. But are they doing it?
To answer the OP, absolutely it has AFFECTED it's value, but the question is to what extent? I think it has probably increased the price of BTC because people would be likely to use it for things like SR, so they have to buy it to get their drugs, so the price goes up. Maybe in the future it's not a good thing and could actually hurt it's value, especially if the government takes aim at it because of the negative stuff.
Right that since transacting in BTC is anonymous, it can be used by the bad guys on its maximum.
Well, it's considered to be *pretty* anonymous. Given some work, and enough people, it's still quite possible to trace a transaction back (even if you use multiple addresses). Blockchain sleuthing is something one of my friend likes to do in his spare time, actually o_o
It is very easy for NSA and FBI to find out your identity if you do doggy thing with bitcoin.
But would it be worth the effort involved?
Even after Silk Road has been shut down, is the FBI going after individuals who purchased small quantities of pot?
No, because it is probably not worth it.
They will want to make an example to discourage drug users from buying illegal substance online.
People have been busted buying and selling drugs with bitcoin a few times already.
Right that since transacting in BTC is anonymous, it can be used by the bad guys on its maximum.
Well, it's considered to be *pretty* anonymous. Given some work, and enough people, it's still quite possible to trace a transaction back (even if you use multiple addresses). Blockchain sleuthing is something one of my friend likes to do in his spare time, actually o_o
It is very easy for NSA and FBI to find out your identity if you do doggy thing with bitcoin.
But would it be worth the effort involved?
Even after Silk Road has been shut down, is the FBI going after individuals who purchased small quantities of pot?
No, because it is probably not worth it.
They will want to make an example to discourage drug users from buying illegal substance online.
Right that since transacting in BTC is anonymous, it can be used by the bad guys on its maximum.
Well, it's considered to be *pretty* anonymous. Given some work, and enough people, it's still quite possible to trace a transaction back (even if you use multiple addresses). Blockchain sleuthing is something one of my friend likes to do in his spare time, actually o_o
It is very easy for NSA and FBI to find out your identity if you do doggy thing with bitcoin.
But would it be worth the effort involved?
Even after Silk Road has been shut down, is the FBI going after individuals who purchased small quantities of pot?
No, because it is probably not worth it.
Right that since transacting in BTC is anonymous, it can be used by the bad guys on its maximum.
Well, it's considered to be *pretty* anonymous. Given some work, and enough people, it's still quite possible to trace a transaction back (even if you use multiple addresses). Blockchain sleuthing is something one of my friend likes to do in his spare time, actually o_o
It is very easy for NSA and FBI to find out your identity if you do doggy thing with bitcoin.
If you make mistakes yes. But I bet most people are not caught because they trace transactions, rather they make mistakes by posting info on the internet. DPR was caught that way too!
Right that since transacting in BTC is anonymous, it can be used by the bad guys on its maximum.
Well, it's considered to be *pretty* anonymous. Given some work, and enough people, it's still quite possible to trace a transaction back (even if you use multiple addresses). Blockchain sleuthing is something one of my friend likes to do in his spare time, actually o_o
It is very easy for NSA and FBI to find out your identity if you do doggy thing with bitcoin.
Right that since transacting in BTC is anonymous, it can be used by the bad guys on its maximum.
Well, it's considered to be *pretty* anonymous. Given some work, and enough people, it's still quite possible to trace a transaction back (even if you use multiple addresses). Blockchain sleuthing is something one of my friend likes to do in his spare time, actually o_o
it's actually one of the things that give btc value, but without big company like google/facebook/youtube/amazon i don't think btc can't go that far
It's funny how some people complain the only thing that gives Bitcoin value is it's use for illegal tranactions. Now their complaints are the the illegal usage of Bitcoin is having a negative impact on the price of Bitcoin. You just can't win but I do like how fudsters spread fud in the form of a question these days.. 
There is no winning with trolls. Best would be to just ignore them, but many simpler minded newbies take their words for granted. Sadly
It's funny how some people complain the only thing that gives Bitcoin value is it's use for illegal tranactions. Now their complaints are the the illegal usage of Bitcoin is having a negative impact on the price of Bitcoin. You just can't win but I do like how fudsters spread fud in the form of a question these days..
Remember that the bitcoin drug trade started it all. Don't forget where we came from. 
Not really, They only were the first to discover some advantages. I am the firm beleiver that Bitcoin would have been successful either way!
Might have taken more time, but yes, it would have been successful.
Remember that the bitcoin drug trade started it all. Don't forget where we came from.
Not really, They only were the first to discover some advantages. I am the firm beleiver that Bitcoin would have been successful either way!
All currencies are being used for illegal purchasing which is quite common and that has never affected any other currencies so I do not believe that if bitcoin is being used for illegal purchases it will affect it's value no. You are going to get illegal purchases with all currencies just because this is a new currency just starting out does not mean to say it's going to be affected.
It could give it bad press and hurt it in the short term, but in the long run there is nothing that can stop it. The same reasons it is great for criminals are the reasons its good for the average user.
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