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Topic: Is bitcoin being used for illegal activities - page 2. (Read 139750 times)

full member
Activity: 238
Merit: 100
Bitcoin is an extremely useful payment system for both illegal and legal activities. It's like cash, and just because lot of drug dealers using cash, the government will hopefully not ban it.
Correct both bitcoin and cash is being used on illegal things and anything does have value people would really use it no matter what and thats why some country does ban bitcoin because of this matter which is being used by illegal activities.
They ban bitcoin in their country  as they don't really know the advantages bitcoin. All they know is the disadvantages of it, though all kind of currency including their local currency can be used in illegal activities too.

They might also know the advantages of it. But they saw many people in their country is commonly using it in an illegal way so they have no choice but to ban it..They ban it because it will just harm more people if they will continue using it. The adoption of bitcoin on that country is not good.
Sure. In third world country, bitcoin is used commonly ofr illegal activities such as operating a ponzi scheme. Many people have lost their money and Bitcoin there so the Government have to forbid Bitcoin temporally to protect people. However, there are some countries banning Bitcoin for no reason. It is really sad to know about that
Well, it's true. many illegal transactions performed by users bitcoin, because bitcoin excellent ability in the transaction. Well, this may also be the reason for the government to ban the use or conduct transactions with bitcoin. The government's main goal may be simply to minimize the number of illegal transactions. Well, even though, I believe that bitcoin can provide better impact when bitcoin accepted.
It is really difficult to stop illegal activities using bitcoin and people really like to take advantage of the anonymity feature to get away from illegal transaction, it really gives huge impact to all of the user, one day the government will regulate bitcoin because of this reason
That's right.
I agree with you.
The fact that bitcoin can not be tracked and the fact that it is impossible to idenity a person from a bitcoin address makes it pretty easy for people to maintanance scam websites and to buy drugs and etc.

That's one of the reasons that bitcoin users are afraid that the governements will ban it.
legendary
Activity: 1414
Merit: 1001
Of course it is being used for illegal activities. A currency that isn't controlled by anyone and can't be tracked(as in location), why would a criminal not use it?
because bitcoin is not bound by the tax. so that criminals are free to use it. need a statutory body which regulates this. If left unchecked, this situation will be difficult to overcome.
hero member
Activity: 2254
Merit: 960
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Couldn't it be assumed that where ever there is the possibility of illegal activity that any and all currency would be used it in.

I don't see how it would be possible for the government to regulate bitcoins. China doesn't allow bitcoins, but there Internet blocker doesn't stop bitcoins from being sent around and China certainly mines a lot of coins.

If bitcoins are being used for illegal activity is to far fetched to say we shouldn't have the internet either because of the illegal activity that happens on it
hero member
Activity: 700
Merit: 500
Of course it is being used for illegal activities. A currency that isn't controlled by anyone and can't be tracked(as in location), why would a criminal not use it?
hero member
Activity: 840
Merit: 501
Bitcoin is an extremely useful payment system for both illegal and legal activities. It's like cash, and just because lot of drug dealers using cash, the government will hopefully not ban it.
Correct both bitcoin and cash is being used on illegal things and anything does have value people would really use it no matter what and thats why some country does ban bitcoin because of this matter which is being used by illegal activities.
They ban bitcoin in their country  as they don't really know the advantages bitcoin. All they know is the disadvantages of it, though all kind of currency including their local currency can be used in illegal activities too.

They might also know the advantages of it. But they saw many people in their country is commonly using it in an illegal way so they have no choice but to ban it..They ban it because it will just harm more people if they will continue using it. The adoption of bitcoin on that country is not good.
Sure. In third world country, bitcoin is used commonly ofr illegal activities such as operating a ponzi scheme. Many people have lost their money and Bitcoin there so the Government have to forbid Bitcoin temporally to protect people. However, there are some countries banning Bitcoin for no reason. It is really sad to know about that
Well, it's true. many illegal transactions performed by users bitcoin, because bitcoin excellent ability in the transaction. Well, this may also be the reason for the government to ban the use or conduct transactions with bitcoin. The government's main goal may be simply to minimize the number of illegal transactions. Well, even though, I believe that bitcoin can provide better impact when bitcoin accepted.
It is really difficult to stop illegal activities using bitcoin and people really like to take advantage of the anonymity feature to get away from illegal transaction, it really gives huge impact to all of the user, one day the government will regulate bitcoin because of this reason
legendary
Activity: 1218
Merit: 1000
Bitcoin is an extremely useful payment system for both illegal and legal activities. It's like cash, and just because lot of drug dealers using cash, the government will hopefully not ban it.
Correct both bitcoin and cash is being used on illegal things and anything does have value people would really use it no matter what and thats why some country does ban bitcoin because of this matter which is being used by illegal activities.
They ban bitcoin in their country  as they don't really know the advantages bitcoin. All they know is the disadvantages of it, though all kind of currency including their local currency can be used in illegal activities too.

They might also know the advantages of it. But they saw many people in their country is commonly using it in an illegal way so they have no choice but to ban it..They ban it because it will just harm more people if they will continue using it. The adoption of bitcoin on that country is not good.
Sure. In third world country, bitcoin is used commonly ofr illegal activities such as operating a ponzi scheme. Many people have lost their money and Bitcoin there so the Government have to forbid Bitcoin temporally to protect people. However, there are some countries banning Bitcoin for no reason. It is really sad to know about that
Well, it's true. many illegal transactions performed by users bitcoin, because bitcoin excellent ability in the transaction. Well, this may also be the reason for the government to ban the use or conduct transactions with bitcoin. The government's main goal may be simply to minimize the number of illegal transactions. Well, even though, I believe that bitcoin can provide better impact when bitcoin accepted.
hero member
Activity: 770
Merit: 500
Bitcoin is an extremely useful payment system for both illegal and legal activities. It's like cash, and just because lot of drug dealers using cash, the government will hopefully not ban it.
Correct both bitcoin and cash is being used on illegal things and anything does have value people would really use it no matter what and thats why some country does ban bitcoin because of this matter which is being used by illegal activities.
They ban bitcoin in their country  as they don't really know the advantages bitcoin. All they know is the disadvantages of it, though all kind of currency including their local currency can be used in illegal activities too.

They might also know the advantages of it. But they saw many people in their country is commonly using it in an illegal way so they have no choice but to ban it..They ban it because it will just harm more people if they will continue using it. The adoption of bitcoin on that country is not good.
Sure. In third world country, bitcoin is used commonly ofr illegal activities such as operating a ponzi scheme. Many people have lost their money and Bitcoin there so the Government have to forbid Bitcoin temporally to protect people. However, there are some countries banning Bitcoin for no reason. It is really sad to know about that
legendary
Activity: 1148
Merit: 1097
Bounty Mngr & Article Writer https://goo.gl/p4Agsh
bitcoin isnt the problem. people are the problem.
as far as i'm ware, people use everything to pay for drugs... everything.

if they have fiat money, it will be fiat money... if they have bitcoin, well, it will be bitcoin.
if they dont have fiat nor bitcoin, they will pay with services, any of their things(bike, tv, etc ) or maybe even stolen things.

Right no matter how the government will do as long as their people are still on committing illegal transactions or bad things no mayter how they ban bitcoin,gambling or drugs people who didnt want to join their campaign or laws will always find their to do wrong doings. So better have a program for rhem to realize or their wrong doings. Its not the currency or the sites that needs to be ban.
full member
Activity: 210
Merit: 100
bitcoin isnt the problem. people are the problem.
as far as i'm ware, people use everything to pay for drugs... everything.

if they have fiat money, it will be fiat money... if they have bitcoin, well, it will be bitcoin.
if they dont have fiat nor bitcoin, they will pay with services, any of their things(bike, tv, etc ) or maybe even stolen things.
copper member
Activity: 238
Merit: 18
Quote
Is bitcoin being used for illegal activities

yes  Undecided

but so is money, whats your point?

anything with value can be used for bad things, my aunts dvd player for example........
hero member
Activity: 1022
Merit: 511
Tell that to those people that use bitcoin for illegal activities and they will only laugh at you. Even if you open up an organization for that, it wouldn't make any difference and everyone will just think you're pathetic. Catching the bad guys is the only way you can stop them.
When almost 80% of the bitcoin users are bad, what can be done. Only 20% use it for genuine trades or buying regular stuff online while others keep creating fake IDs on localbitcoins or with other websites to buy/sell hacked stuff. Take a look at the digital goods section to get an idea and obviously everyone would laugh as majority just do the same.
legendary
Activity: 1232
Merit: 1029
It depends on the definition of "Illegal activities". In some countries purchasing or selling services with bitcoin is not regulated with the banks of their governments. And taxation on those transactions may be very difficult to put. But when merchants convert those bitcoins to their own currency they will be paying some taxes. But as BTC is volatile, not much interest is shown by the merchants in using it as a payment gateway. Undecided
Buying goods/products with bitcoins from certain licensed websites is always safe and considered legal as the websites have an authority to use the currency.

Only those trades that are obviously considered illegal everywhere like drugs, weapons and fraudulently acquired products are illegal and it becomes a matter of concern if you are dealing with a person who is buying bitcoins for such purposes. You may be unaware but still you are involved in the illegal activity. That's the major concern here.
hero member
Activity: 2884
Merit: 794
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i do not think that bitcoin will be use for illegal activity because bitcoin is crypto currency and crypto currency can be use for online shopping and now we can buy online product through bitcoin and bitcoin is really too much modern and stronger currency.
you are right there is no way to use bitcoin for illegal activity and i can just use my bitcoin for online shopping like i buying mobile phone and computer etc so we can not use bitcoin for illegal activity because bitcoin is digital currency.
Mistake, bitcoin or any other currency for that matter don't have a way to know whether the trade you are doing is legal or illegal, you the bitcoin user is the one that is supposed to know that, what if holding bitcoin was banned in your country? You will be doing something illegal by just holding bitcoin, do you think the bitcoin in your wallet is going to just disappear just because someone just changed a law?
sr. member
Activity: 308
Merit: 250
Bitcoin is an extremely useful payment system for both illegal and legal activities. It's like cash, and just because lot of drug dealers using cash, the government will hopefully not ban it.
Correct both bitcoin and cash is being used on illegal things and anything does have value people would really use it no matter what and thats why some country does ban bitcoin because of this matter which is being used by illegal activities.
They ban bitcoin in their country  as they don't really know the advantages bitcoin. All they know is the disadvantages of it, though all kind of currency including their local currency can be used in illegal activities too.

They might also know the advantages of it. But they saw many people in their country is commonly using it in an illegal way so they have no choice but to ban it..They ban it because it will just harm more people if they will continue using it. The adoption of bitcoin on that country is not good.
hero member
Activity: 3024
Merit: 680
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Bitcoin does worth money, soo i dont see any difference between use bitcoin or fiat, all knows that bitcoin is being attacked and connected to dark marketplaces, something that fiat isnt nowadays, since all the bad news are from bitcoin and i dont read any more news about fiat black markets.

No, fiat is still connected to dark marketplaces and other illegal stuffs because fiat money is same as bitcoin. Because you won't be able to be traced when you will have a transaction by simply leaving a pouch of money in a place and will be picked up by your dealer or supplier of drugs. They are just the same with bitcoin, just because criminals now are also intelligent to use different ways for their anonymity for their transactions.
x4
hero member
Activity: 1106
Merit: 508
Bitcoin is an extremely useful payment system for both illegal and legal activities. It's like cash, and just because lot of drug dealers using cash, the government will hopefully not ban it.
Correct both bitcoin and cash is being used on illegal things and anything does have value people would really use it no matter what and thats why some country does ban bitcoin because of this matter which is being used by illegal activities.
They ban bitcoin in their country  as they don't really know the advantages bitcoin. All they know is the disadvantages of it, though all kind of currency including their local currency can be used in illegal activities too.
hero member
Activity: 729
Merit: 500
Bitcoin does worth money, soo i dont see any difference between use bitcoin or fiat, all knows that bitcoin is being attacked and connected to dark marketplaces, something that fiat isnt nowadays, since all the bad news are from bitcoin and i dont read any more news about fiat black markets.
hero member
Activity: 3010
Merit: 794
Bitcoin is an extremely useful payment system for both illegal and legal activities. It's like cash, and just because lot of drug dealers using cash, the government will hopefully not ban it.
Correct both bitcoin and cash is being used on illegal things and anything does have value people would really use it no matter what and thats why some country does ban bitcoin because of this matter which is being used by illegal activities.
legendary
Activity: 1512
Merit: 1010
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It depends on the definition of "Illegal activities". In some countries purchasing or selling services with bitcoin is not regulated with the banks of their governments. And taxation on those transactions may be very difficult to put. But when merchants convert those bitcoins to their own currency they will be paying some taxes. But as BTC is volatile, not much interest is shown by the merchants in using it as a payment gateway. Undecided
newbie
Activity: 76
Merit: 0
Bitcoin is an extremely useful payment system for both illegal and legal activities. It's like cash, and just because lot of drug dealers using cash, the government will hopefully not ban it.
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