Is bitcoin a criminal tool? - page 5.

BitChief

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Quote from: bug.lady on March 19, 2018, 07:25:27 AM

Is bitcoin a criminal tool? Well, it may be. Is a lady stocking a criminal tool? Well, it may be, beacuse it may be used to rob a bank and even worse it may be used to attract males to a female sex-worker.

Do you see how absurd it is even to ask such questions? Even sun glasses may be a criminal tool because they hide one's identity...

You could argue anything is a criminal tool, usd cash has got to be the most widely used criminal tool in the world. At least with bitcoin you are not senseless wasting resources on a piece of paper. With bitcoin there is a trail so if someone finds the transaction it can be traced.

bug.lady

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Large scale, green crypto mining ICO

Is bitcoin a criminal tool? Well, it may be. Is a lady stocking a criminal tool? Well, it may be, beacuse it may be used to rob a bank and even worse it may be used to attract males to a female sex-worker.

Do you see how absurd it is even to ask such questions? Even sun glasses may be a criminal tool because they hide one's identity...

NA boom

newbie

Activity: 190

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Quote from: Eragon54 on March 17, 2018, 12:46:44 PM

If users use this in bad reasons then its possible but proclaiming that bitcoin is a criminal tool is a bit overwhelming since we dont know if its true or not. We need proof or evidence if that situation truly exists. With that we dont need to panic because as long as good users is more than the selfish ones then its next to impossible that bitcoin is a criminal tool.

No I can not agree on this. Because Bitcoin has both good and bad aspects.There is reverse reaction to everything. Bitcoin and so on. It is not for anyone to blame Bitcoin for it if someone uses Bitcoin. Because Bitcoin is better than bad. Moreover, many countries are banning this crypto which is unexpected. Everyone forgets the benefits of Bitcoin. If Bitcoin is the tool of crime then good deeds and directionals .Therefore, without banning the Bitcoin, it will reduce the crime against Bitcoin. There is no need for anyone to use Bitcoin to do evil things. Everyone has to be aware of Bitcoin.

Xester

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Bitcoin is not a criminal tool. It is just a currency online with a value. It is not a criminal tool because it was not made purposely to be used by criminals. Though it is not a criminal tool but it has the potential to be used that way since that depends on the user how to use it. Given the decentralized and anonymous feature of bitcoin it could be on the liking of criminals and for that the government has placed regulations on the use of bitcoin to combat monetary violators and criminals.

JerryJam

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Any currency in the hands of criminals is a criminal tool. Fiat money the government can monitor and track.Illegal transactions in cryptocurrency are anonymous and carried out without intermediaries.To hide their illegal profits criminals keep them in bitcoins or withdraw in avory.It is considered that the main feature of the digital currency is its anonymity. But that's not quite true. She has her flaws.For example, a trade always leaves a trail that cannot be deleted.The information on the blockchain is open to the public. Only instead of the name of the owner is known the number of the purse. Up to a certain point it can be anonymous. However, if desired, you can track suspicious transactions and set the user name.

sirkings0003

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Telegram: https://t.me/ViolaAI

Quote from: huanzhong644306 on March 17, 2018, 12:08:57 PM

In bitcoin's pyramid scheme, criminals have exploited the greed of people's ignorance and dreams of the currency. The essence of pyramid selling is a ponzi scheme, where a bitcoin is not fundamentally different from a tulip or a box of cosmetics.

In the event of an hacker blackmail, criminals use the anonymity of the currency, trying to escape legal sanction, COINS and cash here, there is no essential difference between just more convenient, lower cost.

In money laundering, drug trafficking, and terrorist crimes, criminals use the anonymity and high mobility of bitcoin to hide the flow of funds, which is the same as the effect of using cash.

I would want to liken cryptocurrency to fire arm(Gun). Use of gun is good at the same time bad. It all depends on whose hand it is in. If bitcoin like gun finds its way to the hands of the bad people, it would be used for bad thing. If it finds its way to the hands of the good ones, it would be used for good.

SummerBliss

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Quote from: huanzhong644306 on March 17, 2018, 12:08:57 PM

In bitcoin's pyramid scheme, criminals have exploited the greed of people's ignorance and dreams of the currency. The essence of pyramid selling is a ponzi scheme, where a bitcoin is not fundamentally different from a tulip or a box of cosmetics.

In the event of an hacker blackmail, criminals use the anonymity of the currency, trying to escape legal sanction, COINS and cash here, there is no essential difference between just more convenient, lower cost.

In money laundering, drug trafficking, and terrorist crimes, criminals use the anonymity and high mobility of bitcoin to hide the flow of funds, which is the same as the effect of using cash.

Is it that tool which exploites the world in wrong manner or the means which use it in that way.Similarly humans are responsible for neglience use of bitcoin by using it on Criminal activities. The coin which is the future of payment system based on the blockchain technology is now being used by some anonymous in illicit manner line drugs, smuggling and payment for them. A weapon is never dangerous unless used in wrong way. A shot cannot be fired until you pull the trigger.

ellabanana

member

Activity: 266

Merit: 11

Yes, there would be a big possibility that Bitcoin will be used for illegal activities. But, is it Bitcoin's fault? Criminals will always find a way, even without Bitcoin. So, let's not put the blame to cryptocurrency. Nothing is made for evil. It's the people who used it that makes it bad.

Shenzou

sr. member

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Merit: 283

Quote from: huanzhong644306 on March 17, 2018, 12:08:57 PM

In bitcoin's pyramid scheme, criminals have exploited the greed of people's ignorance and dreams of the currency. The essence of pyramid selling is a ponzi scheme, where a bitcoin is not fundamentally different from a tulip or a box of cosmetics.

In the event of an hacker blackmail, criminals use the anonymity of the currency, trying to escape legal sanction, COINS and cash here, there is no essential difference between just more convenient, lower cost.

In money laundering, drug trafficking, and terrorist crimes, criminals use the anonymity and high mobility of bitcoin to hide the flow of funds, which is the same as the effect of using cash.

Everything is a criminal tool if used by the wrong people and for the wrong reasons , there is no such system that is flawless there will walkways be people trying to go around it and exploit it, and bitcoin is no different, it is true that it provides anonymity which is good way for criminals to do all their illegal activities without being traced, but it also helps people who are not using it for illegal stuff to keep their identity and personal information from being stone, the point is for every con there is a pro and in my opinion it all depends on the person using it.

MakeMoneyBtc

full member

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It is not bitcoin the one that kills people, it is those people because they want or they have to. Of course they have to find the best way to hide their money and then launder them but that doesnt mean bitcoin was created to help them for illegal activities. Bitcoin is just a more aaccessible tool but it is not the most important one because if bitcoin was never created people would also commit crimes or sell drugs and they would find another way to hide and then launder their money. The problem starts from those people that fo such bad things and it cannot be solved so it is inutile to blame bitcoin or anything else for what happens

awawo

member

Activity: 406

Merit: 13

I don't buy into the assertion that bitcoin is a ponzi scheme but I can quite agree that bitcoin is use as a tool in the hand of criminals because bitcoin can be used and a payment for arms drugs and other criminal activities just like every other currency is being used e.g dollars and all other of our traditional faint paper money can also be use for such illegal purposes.

Seriousbizz

newbie

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Bitcoin is a currency just like dollars. There will always be criminals and no one can control how people choose to use or abuse a currency. It's not a criminal tool and whatever way it is used is the responsibility of the user.

malikusama

copper member

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Either you don’t know about pyramid scheme or may be you are unaware of bitcoin. None of the characteristics and feature of bitcoin matches with pyramid scheme or model.
Nothing is perfect, everything has some pros and cons, The thing you need to observe is bitcoin has low disadvantages as compare to advantages.
Along with the anonymity bitcoin is decentralized which make it more attractive because public is annoyed with the current monopolised banking system.

Janation

hero member

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Quote from: patriziobtc on March 18, 2018, 03:53:42 PM

In addition to criminal activities, bitcoin is also used for tax evasion as it ensures absolute anonymity.

How can you say that? Bitcoin is not really anonymous. Think of it, a lot of criminals are still being caught even if they are using Bitcoin. It can still be traced, you just need to search for that to know it.

Bitcoin is not a criminal tool either since Bitcoin is not really a currency to be used in such activities. There's just a lot of people that are taking advantage of these digital currency to escape their illegal activities such as money laundering.

jerick06

jr. member

Activity: 180

Merit: 4

Quote from: huanzhong644306 on March 17, 2018, 12:08:57 PM

In bitcoin's pyramid scheme, criminals have exploited the greed of people's ignorance and dreams of the currency. The essence of pyramid selling is a ponzi scheme, where a bitcoin is not fundamentally different from a tulip or a box of cosmetics.

In the event of an hacker blackmail, criminals use the anonymity of the currency, trying to escape legal sanction, COINS and cash here, there is no essential difference between just more convenient, lower cost.

In money laundering, drug trafficking, and terrorist crimes, criminals use the anonymity and high mobility of bitcoin to hide the flow of funds, which is the same as the effect of using cash.

Bitcoin is not a criminal tool. Bitcoin is just an online currency! And yes bitcoin is used by the criminals but the way they are using it is not saying that bitcoin is a criminal tool. It depends on the people how they will ise bitcoin. Either in the good or bad.

iv4n

legendary

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Merit: 1175

Quote from: castellodocet on March 18, 2018, 03:14:55 PM

This is a sticky argument. Bitcoin is a tool being used by criminals to perform their stuff. Not 100% true, but it is for some scenarios. We can't do anything if people decides to pay with bitcoin. The same people may use other money, like dollars or pounds. That makes them criminal tools?

With knife you can make a launch or you can kill someone! You can make million similar compares, and you can make tools to look good or bad in each of that examples. This is million and first topic about this and I can't believe how stupid people can be to fall on such stupid and ignorant stories about bitcoin and how criminals use it for their evil agendas, like terrorists and criminals didn't exist before bitcoin.
Spinning news is what we have here, most of the people in this world are stupid and fall on this, they allow rumor's and fake news to shape their mind and their perspective. Tool is a tool in what purpose will be that tool used depends from who holding it, remember that and I hope we will never see similar topic again, it's stupid that we need to explain that over and over again.

Girtod

member

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I believe that this statement is not true why do you see only the bad side?

Mazda17

full member

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Merit: 101

Quote from: Xenrise on March 17, 2018, 01:02:37 PM

Bitcoin can be used as a criminal tool. And I believe that in the dark web, bitcoin serves as the main currency in order to buy drugs, guns and etc. Also, in other news, people tend to hack people with lots of bitcoin hiding on their btc wallets. So it could be a criminal tool.

opinions that make sense too and can be trusted.
only people who are negative thoughts that make btc a means of exchange of goods that should not be exchanged, so we as bitcoin users should be thought positive and used for day-to-day useful.

Dudeperfect

hero member

Activity: 1190

Merit: 534

Bitcoin is a payment technology having some more benefits as compared to that of traditional payment system and if it is providing more benefits then but obviously everyone would use it if they are comfortable with it so in the case of crime, no one can stop criminals from using Bitcoin (or any currency including fiat for that matter) so blaming Bitcoin for criminal activities is baseless in my opinion.

AntonDrobot

full member

Activity: 196

Merit: 100

Bitcoin is calculated both for artists and for small transactions, and also took on the armory of virtual money and representatives of the criminal world (on the fashionable notion fraudsters are making profit), and quite the very few require them to pay ransom.

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