Is bitcoin used by criminals ? - page 61.

nelsledma

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Quote from: PeRo on January 07, 2018, 05:22:28 PM

Well, Bitcoin is the best solution for criminals to bypass the police tracking the transactions and finding out who got and who sent the money. I really could not name a better solution. But I do not think that it is bad for Bitcoin because criminals also use cash and that does not seem to be a too big of a deal for people, they do not see that Bitcoin is a currency like any other.

Not only Bitcoin but many other crypto currencies are being used by criminals. I don't want to talk much about this topic but interested ones can search about Silk Road by their own to get the idea.

If someone has chosen the path of Evil he is going to use everything for doing Evil, including bitcoin and all other assets. But I Think, that is not a bad thing about Bitcoin or any other specific. We cannot accuse them as it will be totally unfair.

Blueblade

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Bitcoin is the most popular worldwide.It spread across the internet.So you can use it anywhere.It is also used for criminal acts.Bitcoin transaction can not be prevented.It is very difficult to monitor.

tanjiran

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Quote from: chipzeru on January 10, 2018, 01:13:56 AM

Yes, btc used by criminals. Not only btc but any currency also used by criminals. I went to deepweb 3 years ago and visited a web similar to ebay/amazon. They sell drugs, guns and any forbidden stuff there. They only accept btc as currency (maybe today they accept another altcoin like monero etc if the web still exist).

It always sounds terrible when it comes to deep web. Because there really is like the deepest ocean we can not know clearly. Trade and illegal activities must have been done there.

Bitcoin can be used as a crime tool, just like money and other means of payment that can serve as an intermediary of crime. However, it all depends on the user.

amitkumratra

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Moderator

Ya there is no doubt that Bitcoin or also other crypto currencies can be used by criminals. In this whole world there is no regulatory authority on crypto currencies. So from this system they can send money very easy to any corner of the world or it is also can not be traceable by anyone. According to me this is the new tool for criminals to promoting terrorist activities and also for money laundering.

uyalun85

newbie

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Most probably there are criminals using bitcoin and it is tough to locate them and hunt them down. There's probably nothing much we can do as well?

SirLancelot

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Quote from: jundy020 on January 08, 2018, 10:59:12 AM

How do we know? but I think they some of them use this too, some intelligent criminals

This is hard to tell but people have been using these bitcoins in criminal activities since its development. And till now people are using it for human trafficking and drug dealing. If you get any free time, search for deep web and you will come to know that everything is just being dealt in these bitcoins. But we can’t just leave bitcoins only because they are used in bad activities, no.

iphone5s

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Quote from: drm on January 09, 2018, 10:14:35 PM

Of course bitcoin is being used by criminals as well. So are cash, bank accounts, credit cards, boats, cars, helicopters.. You get the point Wink

Everyone is entitled to use Bitcoin even if it's a cold-blooded mafia or killer. Bitcoin is freedom Wink

batang_bitcoin

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Quote from: biboy on January 09, 2018, 06:27:00 PM

Quote from: batang_bitcoin on January 09, 2018, 06:21:48 PM

Before I started to buy and get some bitcoin I already knew this thing from my friend that introduced me to bitcoin. He's been living in the deep web and I don't know much about it and I don't dig about his life. How about dollars? How about your local money? Isn't that being used by criminals or people to commit such crimes and can be used to buy drugs? You are only elaborating bitcoin before it was used before there but forgetting what's the reality about fiat.

Some were really afraid to use bitcoin because they know that it is used by criminals in making an illegal transactions, so some were really thinking that bitcoin was really an illegal thing, so it took a couple of years before people finally adapt and consider this to involve in investing and trading.

It's the fear of those people who still doesn't have some bitcoins. What they are doing is they keep on asking those people who started it out and later on they won't believe and won't buy to those stories that they've been told about on how bitcoin grew until now. Their minds are closed that bitcoin is only used for those illegal transactions "ONLY" but they never realize that even our very own currencies, it is the most abused and used by those people who are involved with such crimes. Bitcoin is starting to gain some reputation today.

chipzeru

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Yes, btc used by criminals. Not only btc but any currency also used by criminals. I went to deepweb 3 years ago and visited a web similar to ebay/amazon. They sell drugs, guns and any forbidden stuff there. They only accept btc as currency (maybe today they accept another altcoin like monero etc if the web still exist).

fishbonez11

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Quote from: nankers on January 04, 2018, 10:32:27 PM

I once read an article that says bitcoin is used as a payment transaction for terrorists and hackers. And maybe you guys in this forum also already know it. But here i want to convey my personal opinion in that matter. I think that internet and bitcoin interrelated. Many terrorists and criminals use internet .so also with bitcoin which used perpetrator However, despite all these issues, do people make concrete efforts to ban the internet? No. Not because removing and banning Bitcoin is difficult, but because the internet offers more positive than negative. For the same reason, we have to be more careful about our mindset for Bitcoin, because much evidence has shown that Bitcoin brings many positive, if not more, effects than the internet. Internet and Bitcoin are just devices that 'bad guys' and 'good people'. Fortunately, the world is filled with more people in the 'good people' category.

The internet in itself is not bad. So I think, that banning the internet is not the problem. It is how 'bad guys' use the internet that makes it bad. Some hack, some scam, some virtually abuse, some illegally transact, etc. Those things that they do, they are the ones that are against the law - not the internet per se. Same for bitcoin. Bitcoin in itself is not bad, it is how 'bad guys' use bitcoin that will make it turn out bad. Fiat or bitcoin, whatever the medium, I think that 'bad guys' will do what 'bad guys' do.

mmhaimhai

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Everything with value are used by criminals, as the folks says moneys makes all evil.Bitcoins has high value and high potential in future so this reason is to attract lots of criminals to make use of btc.

mast3rm1nd

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yes bitcoin is used by criminals, same a knife a hammer or a pen. that doesn't mean it's a criminal instrument...

Trenz

newbie

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Yes, Bitcoin was used by criminals and the underworld to make payments that could not be traced. There was a site named Silk Road which was a marketplace for illegal activities and they used Bitcoin as their main payment method.

Nfp

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Everything can be used by criminals, even kids that are innocents are being used for different crimes. How much more bitcoin and other crypto currencies that are no subordinate by governments and easy to used for every transactions they want to do, so i should say yes.

ignacio0404

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Technically no, bitcoin is already known worldwide. And its stability is to prove that investors really appreciate its works and done. To prove, millionaires such as those well known people are already investing to this new kind of cryptocurrency!

Markzuckertion

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Quote from: drm on January 09, 2018, 10:14:35 PM

Of course bitcoin is being used by criminals as well. So are cash, bank accounts, credit cards, boats, cars, helicopters.. You get the point Wink

I get your point sir, let me explain it clearly for OP. It doesn't matter what things is the medium of exchange. Bad guy will always use it for ilegal transactions. It's not about the bitcoin but it's about the people who use it.

abhishek_bittu

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It turns out that bitcoin is a terrible tool for money laundering. The trouble is that all bitcoin transactions are tracked so if they want to catch you, they can go back into the system and figure out who you are.
Bitcoin bypasses the banking system, but my personal experience is that at least in the Pearl River Delta, that there is less dirty money in the bitcoin ecosystem than in the traditional banking system, which is one reason the Chinese government tolerates and even encourages bitcoin.

spring07

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0x5A165891De2a2c8B82c7De19486277e0d5b644DF

Take it or leave it, every currency, bitcoin inclusive can be used to perpetuate any kind of conceivable evil.
Money laundering, round tripping, funding terrorism are all possible evil that can be done with any currency, bitcoin inclusive.

soll-moll

newbie

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BTC is a global currency that does not prevent anyone from using it. You can donate BTC for charity, BTC can also be used by others to commit crimes. However, due to the encryption of virtual currency, criminals use it to launder money and other criminal activities, which is not caused by the virtual currency.

drm

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Of course bitcoin is being used by criminals as well. So are cash, bank accounts, credit cards, boats, cars, helicopters.. You get the point Wink

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