Topic: Is bitcoin being used for illegal activities - page 7. (Read 139744 times)

Right now Bitcoin is being targeted by an extensive negative propaganda campaign against it. The mainstream media is doing its best to paint the bitcoin as a currency, which is widely used for extortion and the purchase of contraband. If some politician backs Bitcoin, then his opponents will accuse him of indirectly supporting various criminal activities. And that will end his political career.

This is something that is same in little bit low or high levels but no government would like to allow or promote any activity which might cause the loss of their control from the financial infrastructure of the country. Bitcoin is very powerful technology and thus it has the potential to sustain on its own so there will be no governing authority for regulation and that might also prove beneficial for illegal dealers.

I think only a few politicians in a country know about bitcoin, I think even though they knew about bitcoin, they certainly will not take the risk to launder millions of dollars in bitcoin because it is very risky

Not sure if your friend is an experienced Bitcoiner or not (probably not), but if I explain what Bitcoin is and what it can do, I point them on the decentralized aspect of it directly, and all the other advantages. I don't name up black markets as there is no need to. Why? Do I need to name up what criminals are using fiat for when talking about a certain payment service that people haven't heard about before? Doesn't make sense, right? That's why I don't understand why people do so with Bitcoin. Never blame the tool for being used in a wrong manner by people.

Actually everything has a bad impact . But Bitcoin is safe and trusted and nothing is scam in Bitcoin .
But some people making its use in black world , I mean they are using it to make secret deals whole about the world .

i first known about bitcoin was from a friend who said that it was used on the black market to buy drugs and other illegal stuff

Well if other currencies could be as convenient like bitcoin I think dollar would still be a hit online too but as solid as it is fiat money do not have something that bitcoin has to offer that is why many people are switching with bitcoin and making their bitcoin wallet as a bank for some other people and if the value is rising sky rocket there would be a thing to improve their save money because of the exchange rates!

An illegal person will use his/her money illegally. If a person is against government's law by his nature then the form of currency does not matter whether it is bitcoin currency or it is dollar etc. the matter is that how a person wants to use his/her money.

Basically I do not have any wonder on bitcoin is being used for illegal currency because its human nature to use any new technology for his inner thoughts like sex or money.

Bitcoin, the Internet currency beloved by computer scientists, libertarians, and criminals, is no longer invulnerable. As recently as 3 years ago, it seemed that anyone could buy or sell anything with Bitcoin and never be tracked, let alone busted if they broke the law. “It’s totally anonymous,” was how one commenter put it in Bitcoin's forums in June 2013. “The FBI does not have a prayer of a chance of finding out who is who.”


The Federal Bureau of Investigation (FBI) and other law enforcement begged to differ. Ross Ulbricht, the 31-year-old American who created Silk Road, a Bitcoin market facilitating the sale of $1 billion in illegal drugs, was sentenced to life in prison in February 2015. In March, the assets of 28-year-old Czech national Tomáš Jiříkovský were seized; he’s suspected of laundering $40 million in stolen Bitcoins. Two more fell in September 2015: 33-year-old American Trendon Shavers pleaded guilty to running a $150 million Ponzi scheme—the first Bitcoin securities fraud case—and 30-year-old Frenchman Mark Karpelès was arrested and charged with fraud and embezzlement of $390 million from the now shuttered Bitcoin currency exchange Mt. Gox.


The majority of Bitcoin users are law-abiding people motivated by privacy concerns or just curiosity. But Bitcoin’s anonymity is also a powerful tool for financing crime: The virtual money can keep shady transactions secret. The paradox of cryptocurrency is that its associated data create a forensic trail that can suddenly make your entire financial history public information.

There will always be people who will find ways to buy things that are considered illegal. They can use whatever is at their disposal, and in some cases, bitcoin is the currency that best suits their needs. For what its worth, bitcoin is just another tool, and I will just use it in the best way I know how.

you are right . All of the valuable things like money which bitcoin is also money is involved to the illegal activities we cant say that bitcoin is not used in that kind of activity because first is we know that payment or transactions in bitcoin is really easy and fast thats why itis pretty easy access on the dark activities

Bitcoin is not strongly related to illegal trades IMO. Its like and just that many people abused this advantages of bitcoin. And  you can't pin point that only bitcoin can do this, because all currency can be used to buy and be invlove in illegal trades as long it's valuable like money did.

What do you think about fiat money? Dollars? or your local currency? Aren't they related to those things that you have mentioned? Criminals are even wiser now and since bitcoin has value of dollars then it will be used for their activities and because of its transactions that doesn't require too much information, it will be abused by them.

If Bitcoin is strongly related to drugs, weapons, and other criminal bids, this benefit will not go, but instead provide a lot of problems.

is a lot of negative things from bitcoin, and it is usually used for anything illegal. however, I think that the benefits bitcoin is still more than the negative side. yeah, but it all depends on the thinking of each person. so, there are still so many use bitcoin illegally until today

It depends on exactly what kind of ban your government has imposed on Bitcoin usage. May I know what country you are from? Other than that, it basically doesn't matter for criminals whether or not the government have banned Bitcoin. They will use it either way as they can simply convert their coins to fiat back and forth via other countries.

In the first place there are questions of illegal operations so we are still faced with this issue many times. Bitcoin is technically still not anonymous and aliases, and based on that I think control is still possible despite the fact that instead of the data of the person only uses the address.

My goverment forbid bitcoin usage because it can be use for money laundry  ( advantage for terorism activity )
So it has small chance for my goverment for bitcoin usage as the result bitcoin popularity can't grow like EU zone

Perhaps in the future will seem new prospects for Bitcoin, especially if all transactions are legitimate.

In other words bitcoin and fiat are just the same that there is illegal activities happen control by government or not..
Well for me bitcoin is just a business if you have it.. you can buy and sell it the value of bitcoin is unpredictable
so bitcoin has a value anytime they can use bitcoin as alternative so i think not only bitcoin are uses in darkweb they are also using other payment method like perfect money ..