Is it safe to purchase bitcoin that obtain illegally?

Money Boy

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Quote from: Munz77 on January 03, 2014, 05:21:17 AM

From a legal perspective, if its small amounts then it may go under the radar as the risk/return is quite low.

If you are looking at a substantial sum, then there is more than the legal worry... What if you F with the wrong person?

Truly agree cox I am plan to do it in regular basic

Munz77

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From a legal perspective, if its small amounts then it may go under the radar as the risk/return is quite low.

If you are looking at a substantial sum, then there is more than the legal worry... What if you F with the wrong person?

Money Boy

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Quote from: koldtoft on January 03, 2014, 04:53:01 AM

I think from a legal standpoint, it would depend of the law wherever you are.

From a moral standpoint, it's the same regardless of where you are.

If in Africa?

koldtoft

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I think from a legal standpoint, it would depend of the law wherever you are.

From a moral standpoint, it's the same regardless of where you are.

Money Boy

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Quote from: bumpusee on January 03, 2014, 04:06:15 AM

yes considering that bitcoins are not tied to any one's ip address

Due to my understanding there is no standard or agreed method to show that someone is the owner of a wallet or address. So IMO anyone also can be the owner if we know the password.

andycee

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Quote from: Money Boy on January 02, 2014, 09:20:12 AM

Quote from: guybrushthreepwood on January 02, 2014, 09:12:49 AM

Quote from: Money Boy on January 02, 2014, 08:26:14 AM

ya that's why I am asking here.

Why? are you going to be receiving money you know to be stolen or fraudulently obtained?

I do noticed that the one who been selling me BTC is scammer although he never cheat nor scam me since I am using a secure method and limit the amount of money of each trade. I am scarring he is using me as a medium of money laundering his stolen bitcoin or obtained illegally. I might facing the same situation again in future. At the same time I do need to know the risk if I am buying BTC from a stranger what kind of risk I might facing. I dun like to live in fear , doubt and uncertainty.

Maybe its someone from the FBI selling off all those millions of Bitcoins illegally taken from the Silk Road Grin

bumpusee

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yes considering that bitcoins are not tied to any one's ip address

andycee

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Quote from: becherovka on January 01, 2014, 11:28:06 PM

Think of bitcoins like cash. can you tell where your cash has been or what crimes in which it was involved?

errr....yes, the notes serial numbers which are logged from any major bank theft ?

Money Boy

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Quote from: Caiapfas on January 03, 2014, 03:12:31 AM

Quote from: Money Boy on January 02, 2014, 09:20:12 AM

Quote from: guybrushthreepwood on January 02, 2014, 09:12:49 AM

Quote from: Money Boy on January 02, 2014, 08:26:14 AM

ya that's why I am asking here.

Why? are you going to be receiving money you know to be stolen or fraudulently obtained?

I do noticed that the one who been selling me BTC is scammer although he never cheat nor scam me since I am using a secure method and limit the amount of money of each trade. I am scarring he is using me as a medium of money laundering his stolen bitcoin or obtained illegally. I might facing the same situation again in future. At the same time I do need to know the risk if I am buying BTC from a stranger what kind of risk I might facing. I dun like to live in fear , doubt and uncertainty.

Heck I'll trade with him if he's giving you a good deal. what's he charging you? How are you paying him? How fast does he transfer the BTC after payment?

I trade though localbitcoin and I do type every detail about the trade in the messaging system. Payment method bank transfer.

Caiapfas

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Quote from: Money Boy on January 02, 2014, 09:20:12 AM

Quote from: guybrushthreepwood on January 02, 2014, 09:12:49 AM

Quote from: Money Boy on January 02, 2014, 08:26:14 AM

ya that's why I am asking here.

Why? are you going to be receiving money you know to be stolen or fraudulently obtained?

I do noticed that the one who been selling me BTC is scammer although he never cheat nor scam me since I am using a secure method and limit the amount of money of each trade. I am scarring he is using me as a medium of money laundering his stolen bitcoin or obtained illegally. I might facing the same situation again in future. At the same time I do need to know the risk if I am buying BTC from a stranger what kind of risk I might facing. I dun like to live in fear , doubt and uncertainty.

Heck I'll trade with him if he's giving you a good deal. what's he charging you? How are you paying him? How fast does he transfer the BTC after payment?

Money Boy

newbie

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I just started about one month ago everything has been go on smoothly and I do earn little Cheesy

. I been stop few days ago to revise my trading strategy. Grin

Daily sales can over equivalent to USD1,000 if using the lastest record.

guybrushthreepwood

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Quote from: Money Boy on January 02, 2014, 09:20:12 AM

Quote from: guybrushthreepwood on January 02, 2014, 09:12:49 AM

Quote from: Money Boy on January 02, 2014, 08:26:14 AM

ya that's why I am asking here.

Why? are you going to be receiving money you know to be stolen or fraudulently obtained?

I do noticed that the one who been selling me BTC is scammer although he never cheat nor scam me since I am using a secure method and limit the amount of money of each trade. I am scarring he is using me as a medium of money laundering his stolen bitcoin or obtained illegally. I might facing the same situation again in future. At the same time I do need to know the risk if I am buying BTC from a stranger what kind of risk I might facing. I dun like to live in fear , doubt and uncertainty.

Nobody likes to live in fear, but I reckon you're probably being overly paranoid. What user and how much have you bought / spent?

Money Boy

newbie

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Quote from: guybrushthreepwood on January 02, 2014, 09:12:49 AM

Quote from: Money Boy on January 02, 2014, 08:26:14 AM

ya that's why I am asking here.

Why? are you going to be receiving money you know to be stolen or fraudulently obtained?

I do noticed that the one who been selling me BTC is scammer although he never cheat nor scam me since I am using a secure method and limit the amount of money of each trade. I am scarring he is using me as a medium of money laundering his stolen bitcoin or obtained illegally. I might facing the same situation again in future. At the same time I do need to know the risk if I am buying BTC from a stranger what kind of risk I might facing. I dun like to live in fear , doubt and uncertainty.

guybrushthreepwood

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Quote from: Money Boy on January 02, 2014, 08:26:14 AM

ya that's why I am asking here.

Why? are you going to be receiving money you know to be stolen or fraudulently obtained?

edutBTC

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Let me see by myself if you ain't sure about the BTC Undecided

Money Boy

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ya that's why I am asking here.

hilariousandco

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Join the world-leading crypto sportsbook NOW!

Quote from: Money Boy on January 01, 2014, 11:01:59 PM

If we purchase bitcoins from someone that who obtaining it by any means of illegal method, would I be held legal responsibility? How can we identify their source of bitcoins? Do we need to return the bitcoins to the rightful owner if being found out and suffer losses?

I'm sure you could be charged with handling stolen goods / funds etc. I'm sure they'll be lots of these cases in the near future.

Money Boy

newbie

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I just read one article from CoinDesk,"What should we do with stolen bitcoins?"
http://www.coindesk.com/what-should-we-do-with-stolen-bitcoins/

According to the article stolen coin can be known and the movement of coin as well.

tunctioncloud

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Quote from: Money Boy on January 01, 2014, 11:01:59 PM

If we purchase bitcoins from someone that who obtaining their by any means of illegal method, would I be held legal responsibility? How can we identify their source of bitcoins? Do we need to return the bitcoins to the rightful owner if being found out and suffer losses?

I hope no. You cant know if the bitcoins you received were stolen.

prolom

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Well, was it directly from a wallet to wallet or from some exchange?

Personally I think it's anonymous as long as you don't attract attention.

prolom.

Topic: Is it safe to purchase bitcoin that obtain illegally? (Read 1339 times)