Topic: is Bitcoin used to extort people? - page 10. (Read 1997 times)
if bitcoin is perceived as a blackmailer. that is not true and impossible. because investing in bitcoin there is no loss if we do not rush to sell bitcoin that we have when the price of bitcoin again down. if if the price dropped from my purchase price. then I remain patient waiting for the price to rise again. if i have the capital i buy bitcoin again. if not forced to be silent watching and seeing without investing .
Because of the semi-anonymous nature of Bitcoin, it’s used in ransomware attacks. Hackers breach networks and hold them hostage until payment is made to them. Hospitals and schools have been victims of these types of attacks. However, unlike cash, which was favored by thieves in the past, Bitcoin always leaves a trail in the blockchain that investigators can follow.
Cant you still remain anonymous if you are extra careful not to link up accounts and then by sending your coins into a mixing service? Is this not the technique they use?
I do not think this is true, and it is impossible, because Bitcoin has a good system of work and safety. If this happens, of course this is a crime !, and this should be anticipated soon !, because this will make the name Bitcoin back bad. I hope no one has done this kind of thing, because of this Bitcoin for the welfare of all people in this world to be better in the future.
Bitcoin transactions are becoming increasingly easy to track, so it would probably be a poor choice in the long run to extort people using bitcoin. Technically I'm not sure it's actually illegal though, as many countries don't even recognise BTC as an asset, and certainly not legal tender. I wouldn't say BTC extortion happens anywhere near on the scale that cash extortion does.
yes it can be use to extort someone because of it anonymities features which mean I can hold an important thing you need and tell you to send me 2BTC before I can release it. and if this is paid the person might not be trace like using some other payment method which can be centralized and the fugitive can be traced easily be the person that is dubbed.also this same factors make money laundry feasible using bitcoin but many block chain based platform now conduct kyc verification to prevent money laundry charge
Because of the semi-anonymous nature of Bitcoin, it’s used in ransomware attacks. Hackers breach networks and hold them hostage until payment is made to them. Hospitals and schools have been victims of these types of attacks. However, unlike cash, which was favored by thieves in the past, Bitcoin always leaves a trail in the blockchain that investigators can follow.
Invention of bitcoin is a boon for the humanity as it has enormous advantages but there is very old saying that if you have a single bad habit then people will judge on this bad habit only and they will underestimate all your good habits and same is with bitcoin, bitcoin has several advantages but due to its decentralization people are now not considering it trust worthy and decentralisation is the reason some social defaulters are using it for illegal purposes such as ransom killing, terrorism but not to worry only centralization is required to make bitcoin very successful without any disadvantages.If you think bitcoin is being used by the darkweb. I would agree for it but there is no attack on blockchain firewall or bitcoin wallet. There is not possible to hack the wallet at all unless you are a careless person in giving security for your private key.
There are people looking to invest the fund bitcoin and altcoins all the time but fake news spreaded like hacking attack over various exchange and many places still not give the tx id of the transaction has been taken out.
i don't know about anyone else but in this situation this a positive for me , no matter what we come up as a means of exchange these criminals will always find ways and means to use it to do their transactions but as can be seen these payments and transaction can be followed all you need is someone with the time, motivation and the right set of tools.
Because of the semi-anonymous nature of Bitcoin, it’s used in ransomware attacks. Hackers breach networks and hold them hostage until payment is made to them. Hospitals and schools have been victims of these types of attacks. However, unlike cash, which was favored by thieves in the past, Bitcoin always leaves a trail in the blockchain that investigators can follow.
Invention of bitcoin is a boon for the humanity as it has enormous advantages but there is very old saying that if you have a single bad habit then people will judge on this bad habit only and they will underestimate all your good habits and same is with bitcoin, bitcoin has several advantages but due to its decentralization people are now not considering it trust worthy and decentralisation is the reason some social defaulters are using it for illegal purposes such as ransom killing, terrorism but not to worry only centralization is required to make bitcoin very successful without any disadvantages.
Every other financial system are some time instrumental in the hands of thief's who always manipulate the system to favor they own personal criminal aims, but even at that bitcoin technology is very hard for any body to manipulate it due to it high tech security software which always make it almost impossible to be manipulated and if any of such happened it most come through the holder of such account.
Although it will be said that it a decentralized system and transactions can,t be control by any one but it dose not mean that it used for fraudulent transactions all time.
Bitcoin is not used to blackmail people, and if there is extortion and charging with bitcoin, it is actually very easy to trace, due to the nature of the decentralized bitcoin.
I also do not see any connection between Bitcoins and extortion. BTC is the greatest cryptocurrency that can change the world for the better and help many countries to improve their economy.
In this type of time, the use of XMR or DASH will make tracking more difficult, and the proportion of the two coins is increasing in the use of dark networks. Of course, the use of bitcoin to pay ransom is not the problem of bitcoin itself, but the motive of people who use this method.
I think the use of Bitcoin dark continues due to some misery but is not growing significantly. They have some unidentified currency that they can use. bitcoin will run as ransomware and it will be easy to buy through coinbase. So I think Bitcoin used to extort people.
BTC is not for extortion, but for extortion. Because of the anonymity of BTC, such sources are not easily queried, as are the same XMR and dash.
I think not, but it is the nature of the individual about the mechanism of extortion technique by means of crypto transaction.
I do not know why many people use the excuse that bitcoin is often used for crime or drug deals. in fact, the individual himself is the source of the evil.
This is the main argument against adoption bitcoin as a legal tender especially from government circles.
It is becoming relatively easier to track bitcoin transactions especially if they eventually cash out through exchanges which normally would require KYC procedures of the user.Bitcoin is certainly a tool of choice to extort people who want to remain in the 'dark'.
Grow with time or time leaves you behind, thieves, hackers have grown smarter than before. Tracking bitcoin is not that easy, plus the person identity remains safe, then the possibility of growth in returns is also extra incentive. With cash people can give fake money but with bitcoins you can't do that. However there're very few cases like this being reported.
Ransomware has aggravated the argument about bitcoin, nothing is impossible. and FIat has been used for crimes such as extortion, illegal trade and other crimes.
we need strict rules and laws.
Who's gonna enact and make the laws, when the crypto market is not even regulated and there is nobody to put a control upon it. In fact there are many countries where they are not even ready to accept the bitcoin and other crypto currencies. Both the crypto assets and the fiat are being used for undertaking the crimes, and illegal activities. But the nature of transactions in the crypto market is anonymous. You can be traced but your identity is known to anyone. SO the problem of finding the defaulter still persists. The use of the bitcoin for the ransomware activities is not going to decrease anyway what I think! Probably the proportion of the population doing so will reduce as there are more people in the mainstream population who have become the part of the bitcoin community undertaking only the legal activities. we need strict rules and laws.
Because of the semi-anonymous nature of Bitcoin, it’s used in ransomware attacks. Hackers breach networks and hold them hostage until payment is made to them. Hospitals and schools have been victims of these types of attacks. However, unlike cash, which was favored by thieves in the past, Bitcoin always leaves a trail in the blockchain that investigators can follow.
It is possible to track transactions, but it is impossible to know the personalities who participated in it. Attackers can claim or extort the keys and only users whose identity they know.
Menurut saya tidak gan,karna bitcoint adalah pekerjaan secara online,justru bitcoint bagus di gunakan oleh masyarakat sekitar,karna bitcoin bisa merubah nasib seseorang yang lebih baik untuk masa depan yang cerah
depending on the person using bitcoin, bitcoin can be used by everyone even can also be used in criminal action. it is precisely this online nature that people easily take action extortion and fraud that harm to others. bitcoin is also anonymous so we will not know who that person's identity is. 
in my opinion whether bitcoin can be used to blackmail people? it depends on each individual. if the person being squeezed know every detail of bitcoin, how to get it, the way of the transaction, its security, i think it will not happen. smart people will always fool a fools, then from that we should always learn about progress world.
I agree about Bitcoin always leaving a trail in the blockchain that can be followed by investigators. The investigator can also trace it through the ip address of the user's device of the transaction because before the transaction there is always a conversation between the two parties.
I agree about Bitcoin always leaving a trail in the blockchain that can be followed by investigators. The investigator can also trace it through the ip address of the user's device of the transaction because before the transaction there is always a conversation between the two parties.
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