Is bitcoin being used for illegal activities - page 49.

jossiel

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Quote from: mirakal on October 06, 2016, 12:08:33 AM

Quote from: goinmerry on October 05, 2016, 09:45:31 PM

Quote from: Angell on October 05, 2016, 09:16:54 PM

Come one people, which currency is not used for illegal activities? If you make a knfie for cutting onion and somebody kills with it. The knife isn't guilty because an idiot used it for that. The same goes with crypto world.

You got the right explanation. It is a thing and you cant blame it. It will not react to everything you file against it. The one who used it will be the one who will be liable for the act that he or she did. Simple as that. Every currency can be used even the one with a low value.

If you use bitcoin for illegal activities you have to pay the price because when you get caught you will be put behind the bars, although bitcoin is a good currency to hide transactions online but we should be matured enough to know the possible consequences for illegal activities.

So if you are thinking to use bitcoins for your illegal acts it is better if you are just going to keep away from those type of transactions.

Because it is really hard to live behind the bars as I know a lot of people who did some illegal transactions and they caught, even it is not in bitcoins.

But with the law of cyber, there is no law if you are going to use bitcoin for illegal activities.

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Quote from: goinmerry on October 05, 2016, 09:45:31 PM

Quote from: Angell on October 05, 2016, 09:16:54 PM

Come one people, which currency is not used for illegal activities? If you make a knfie for cutting onion and somebody kills with it. The knife isn't guilty because an idiot used it for that. The same goes with crypto world.

You got the right explanation. It is a thing and you cant blame it. It will not react to everything you file against it. The one who used it will be the one who will be liable for the act that he or she did. Simple as that. Every currency can be used even the one with a low value.

If you use bitcoin for illegal activities you have to pay the price because when you get caught you will be put behind the bars, although bitcoin is a good currency to hide transactions online but we should be matured enough to know the possible consequences for illegal activities.

goinmerry

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Quote from: Angell on October 05, 2016, 09:16:54 PM

Come one people, which currency is not used for illegal activities? If you make a knfie for cutting onion and somebody kills with it. The knife isn't guilty because an idiot used it for that. The same goes with crypto world.

You got the right explanation. It is a thing and you cant blame it. It will not react to everything you file against it. The one who used it will be the one who will be liable for the act that he or she did. Simple as that. Every currency can be used even the one with a low value.

Angell

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Come one people, which currency is not used for illegal activities? If you make a knfie for cutting onion and somebody kills with it. The knife isn't guilty because an idiot used it for that. The same goes with crypto world.

goldcoinminer

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Quote from: panju1 on October 05, 2016, 08:02:56 PM

Quote from: Nolankane on October 05, 2016, 05:32:21 AM

Yes but the problem with bitcoin is criminals find it easy to easy bitcoins for their criminals activities. This is picked up by the press very easily which gives bitcoin a bad name.
This is unfair since criminals also use dollar/euro yen for their criminals ventures.

You can't expect the mainstream press to be any different. Sensationalizing news about bitcoins sells.
And they will publish what sells.

Some press are also corrupt, they only publish news that is not good for bitcoin as they do no want to promote bitcoin due to competition of what they are protecting like the big payment processor online, apparently bitcoin is a threat to them so they do anything to destroy bitcoin.

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Quote from: Nolankane on October 05, 2016, 05:32:21 AM

Yes but the problem with bitcoin is criminals find it easy to easy bitcoins for their criminals activities. This is picked up by the press very easily which gives bitcoin a bad name.
This is unfair since criminals also use dollar/euro yen for their criminals ventures.

You can't expect the mainstream press to be any different. Sensationalizing news about bitcoins sells.
And they will publish what sells.

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Quote from: Newcoins2020 on October 05, 2016, 02:38:20 AM

Quote from: bitcoin110011 on February 06, 2016, 07:11:09 AM

I see more and more acrticles of bitcoin being used for illegal activities
will this hurt bitcoin in the long run , will governments ban this just like they started to do wih paying in cash for some services
to harden the use of illegal , and money laundering

I do think that Bitcoin is being used in a illegal way but what can you do about it because real money is also being used for illegal things.
You cannot stop that and we just need to accept that fact.

Of course it is and we cannot indeed stop it what is also logical because its stays a currency and every currency is used for criminal activities without any doubts.

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Quote from: vantyzz on October 05, 2016, 10:27:41 AM

Most likely because of the lack of control, and because of the anonymity possible using bitcoin to do or pay for drugs or other prohibited items. Even child porn will also be charged for bitcoin, and then you can not track down the villain.

yes may be so. to me the as all the currencies are used for illegal activities, as good people use their currency for good deeds and bad people may be use bitcoin for bad activities.

xdrpx

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Quote from: vantyzz on October 05, 2016, 10:27:41 AM

Most likely because of the lack of control, and because of the anonymity possible using bitcoin to do or pay for drugs or other prohibited items. Even child porn will also be charged for bitcoin, and then you can not track down the villain.

People can still be anonymous and buy illegal stuff with fiat if they know the dealers personally. It's the same when it comes to fiat and also wherever there's money there's always something good that it's being use to buy and something wrong or illegal. The other benefit like you've mentioned when using Bitcoins is that, people think it protects their privacy and they'd not want to meet personally to buy the illegal goods. This provides an advantage to them.

allthingsluxury

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Of course it is, but cash is being used far more than bitcoin is. That does not make Bitcoin itself evil in any shape or form.

vantyzz

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Most likely because of the lack of control, and because of the anonymity possible using bitcoin to do or pay for drugs or other prohibited items. Even child porn will also be charged for bitcoin, and then you can not track down the villain.

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Quote from: requester on October 05, 2016, 03:29:44 AM

As bitcoin is anonymous digital money so those bad guys could easily use bitcoin for doing black trade like selling drugs, weapons and other things. Also they could send millions of money just a click and no one would realize that they had done that. They could also use bitcoin for transaction of money where they do illegal activities.

Bitcoin is only pseudo anonymous. It becomes identifiable at its endpoints (exchanges) and where a wallet becomes identifiable (usually by choice of the owner or by IP). The public ledger is view-able indefinitely https://blockchain.info/

Nolankane

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Yes but the problem with bitcoin is criminals find it easy to easy bitcoins for their criminals activities. This is picked up by the press very easily which gives bitcoin a bad name.
This is unfair since criminals also use dollar/euro yen for their criminals ventures.

p_linz

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Quote from: requester on October 05, 2016, 03:29:44 AM

As bitcoin is anonymous digital money so those bad guys could easily use bitcoin for doing black trade like selling drugs, weapons and other things. Also they could send millions of money just a click and no one would realize that they had done that. They could also use bitcoin for transaction of money where they do illegal activities.

well the thing with bitcoin is, that you can follow every transaction for ever. so if you can link an address to a person it is not that anonymous anymore. it is not that easy and this is good.

requester

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As bitcoin is anonymous digital money so those bad guys could easily use bitcoin for doing black trade like selling drugs, weapons and other things. Also they could send millions of money just a click and no one would realize that they had done that. They could also use bitcoin for transaction of money where they do illegal activities.

p_linz

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Quote from: Newcoins2020 on October 05, 2016, 02:38:20 AM

Quote from: bitcoin110011 on February 06, 2016, 07:11:09 AM

I see more and more acrticles of bitcoin being used for illegal activities
will this hurt bitcoin in the long run , will governments ban this just like they started to do wih paying in cash for some services
to harden the use of illegal , and money laundering

I do think that Bitcoin is being used in a illegal way but what can you do about it because real money is also being used for illegal things.
You cannot stop that and we just need to accept that fact.

yes, but we don't want bitcoin to only be used for illegal activities. so if there are many transaction and i'm talking about legal ones done it bitcoin it is fine that some illegal ones are also done. so yes you can do something about it. use bitcoin. and for legal things please.

Newcoins2020

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Quote from: bitcoin110011 on February 06, 2016, 07:11:09 AM

I see more and more acrticles of bitcoin being used for illegal activities
will this hurt bitcoin in the long run , will governments ban this just like they started to do wih paying in cash for some services
to harden the use of illegal , and money laundering

I do think that Bitcoin is being used in a illegal way but what can you do about it because real money is also being used for illegal things.
You cannot stop that and we just need to accept that fact.

p_linz

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Quote from: martinacar on October 05, 2016, 02:26:14 AM

Bitcoin is being used for illegal activities as much as fiat is being used for illegal activities, it doesn't mean it's the fault of bitcoin or that bitcoin is a bad currency.
There's criminals everywhere and bitcoin is attractive cause it's very anonymous to all those criminals.

criminal activities are even higher with fiat. and this is btw a sign of a good currency. everyone can use it. if you leave certain people out and you can decide who can use it, then you have a bad currency.

martinacar

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Bitcoin is being used for illegal activities as much as fiat is being used for illegal activities, it doesn't mean it's the fault of bitcoin or that bitcoin is a bad currency.
There's criminals everywhere and bitcoin is attractive cause it's very anonymous to all those criminals.

Naoko

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i recently watched a news from local television that bitcoin is being used in drugs operation so i think some more illegal activities is using bitcoin for anonimity coz if they used banks or remittance center for money transfer they could easily be cought

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