Bitcoin is a currency and it can be used for legal and illegal activities.
So its the person who uses currency. It can be any currency.
So bitcoin is not bad in itself, it the usage with determines the action
Topic: Is bitcoin being used for illegal activities - page 107. (Read 139748 times)
Bitcoin is being used for illegal activity, that is certain but not that different from usual fiat, I mean criminals are using bitcoins as well as fiat and every other currency in the world, it's not the fault of bitcoin but of the criminals using it.
That is true..its just that what they think is that bitcoin is easier to use...just like money launderers, they will always could always find a way to hide their wealth from our eyes..as long as it has value, criminals would always find a way to use it...
Bitcoin is being used for illegal activity, that is certain but not that different from usual fiat, I mean criminals are using bitcoins as well as fiat and every other currency in the world, it's not the fault of bitcoin but of the criminals using it.
Illegal activities will always involve money-- this could be cash, BTC, precious metals, or anything valuable. BTC shouldn't be targeted as the only form of money related to illegal activities.
Visa, MasterCard, PayPal, and cash all serve as opportunities for criminals as well, but society keeps them around due to their recognized net benefit. so using bitcoin on illegal activities will not harm bitcoin as much media controlled by government.
Yes of course, it is used by illegal activities and that is quite logic I think. Many people are doing that and it is pretty normal.
They will know about that it is possible to do it with Bitcoin and that is the problem. You cant check what you bought.
They will know about that it is possible to do it with Bitcoin and that is the problem. You cant check what you bought.
It will be foolish to think that creation which can be used to do evil deeds won't be used by some people exactly for that purpose.
Bitcoin is no exception here, it is a tool. Money can be used to buy drugs, weapon and to kill others. And bitcoin is money.
Bitcoin is no exception here, it is a tool. Money can be used to buy drugs, weapon and to kill others. And bitcoin is money.
Yes agreed with you, there is nothing wrong with bitcoin. If someone wants to buy the drugs or any other illegal things then it doesn't matter whether its bitcoin or regular fiat, they will manage to buy it with other available souces. Bitcoin can be little helpful for them as its keeping the users anonymous but I think its not the bitcoin's problem.
Bitcoin, being pseudonymous is very easily a medium used for transferring money for criminals. However, that being said, there are still a few boon against using Bitcoin for criminal activity. The acceptance rate is easily one of the highest factors. Bitcoin has a low acceptance rate for buying things in real life. Bitcoin is heavily regulated with AML/KYC policies and thus it is hard to exchange it to fiat. Money is easily a much better alternative.
It will be foolish to think that creation which can be used to do evil deeds won't be used by some people exactly for that purpose.
Bitcoin is no exception here, it is a tool. Money can be used to buy drugs, weapon and to kill others. And bitcoin is money.
Bitcoin is no exception here, it is a tool. Money can be used to buy drugs, weapon and to kill others. And bitcoin is money.
bitcoin is indeed the same as fiat in terms of being usable to buy drugs or to scam people. however, the media only point their dirty finger at bitcoin when some bad news pops up. bitcoin receives all the blame while nothing in the world can describe how many bad things people do with their fiat money. but that's not something you hear them talking about. it's only bitcoin that is being talked about negatively by the media. it's a shame.
Thats its one of the uses of money buy ilegal as legal stuffs,thats why there are black market working with fiat and bitcoin,as stated above bitcoin=money soo sure why wouldnt it being used for that kind?Gambling is soo forbiden that Las Vegas has been built for full pleasure,whores and gambling,as they say what happens in Las Vegas stays in Las Vegas.
It will be foolish to think that creation which can be used to do evil deeds won't be used by some people exactly for that purpose.
Bitcoin is no exception here, it is a tool. Money can be used to buy drugs, weapon and to kill others. And bitcoin is money.
Bitcoin is no exception here, it is a tool. Money can be used to buy drugs, weapon and to kill others. And bitcoin is money.
Yes bitcoin is used by criminals, the same way all currencies are used by criminals. It's not that bitcoin hold that exclusively.
As a matter of fact the dollar holds that position. Being used by most criminal transations.
As a matter of fact the dollar holds that position. Being used by most criminal transations.
Yes of course Bitcoin is used in all kind of activities. You can't limit Bitcoin users to anything.
And no of course governments can't do shit about it. Just tell your local government to suck it up.
And no of course governments can't do shit about it. Just tell your local government to suck it up.
They can tighten up the buying/selling part, which is what they're doing in many countries, when you won't be allowed to buy/sell without filling up the KYC forms, the illegal usage will subside to some extent.
In many countries gambling is treated as an illegal activity, but majority of us are spending our bitcoin on gambling, so yes bitcoin is used for illegal activities but atleast we are using only in gambling and not in any criminal or terrorist activities.
Maybe in some countries gambling is treated as an illegal activity, but prostitution or even watching porn can be illegal there as well, so no big deal. In most countries gambling is regulated, this mean as long as you pay special fee to government, your allowed to gamble - luckily with Bitcoin you can sometimes avoid these unnecessary fees, the interesting thing when something goes wrong you will end empty handed anyway so there is little incentive to use regulated gambling
In many countries gambling is treated as an illegal activity, but majority of us are spending our bitcoin on gambling, so yes bitcoin is used for illegal activities but atleast we are using only in gambling and not in any criminal or terrorist activities.
Maybe in some countries gambling is treated as an illegal activity, but prostitution or even watching porn can be illegal there as well, so no big deal. In most countries gambling is regulated, this mean as long as you pay special fee to government, your allowed to gamble - luckily with Bitcoin you can sometimes avoid these unnecessary fees, the interesting thing when something goes wrong you will end empty handed anyway so there is little incentive to use regulated gambling
Didn't read any of the previous posts.
Just came back from the dead to say,
Just came back from the dead to say,
in some countries the government prohibited the use of bitcoin. of course all activities of bitcoin including illegal activity ? is that true ?
Yes of course Bitcoin is used in all kind of activities. You can't limit Bitcoin users to anything.
And no of course governments can't do shit about it. Just tell your local government to suck it up.
And no of course governments can't do shit about it. Just tell your local government to suck it up.
They can tighten up the buying/selling part, which is what they're doing in many countries, when you won't be allowed to buy/sell without filling up the KYC forms, the illegal usage will subside to some extent.
Yes of course it is being used for illegal activity. Fiat, gold, diamonds, credit cards, etc. are also used for illegal activity. I don't think it's going to be the cause of Bitcoin's failure.
Bitcoin is money, and money has always been used both for legal and illegal purposes. I think some concerns have been raised that Bitcoin could be more attractive to criminals because they can transfer money more easily, but they doing that for years with dollars, euros ... Its not about currency its about people, people will always find a way to broke some "rules" and lets be frank, many rules are just stupid and crazy.
Bitcoin was getting used a lot for illegal activities. If we try to trace different illegal activities the most used is in hacking network of entire working software of firms which makes everything get collapsed in a short time.
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