What type of Cryptocurrency is used in the Deep Web for transactions? - page 3.

Emitdama

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Quote from: DioBrandoCoin on November 13, 2019, 03:59:11 AM

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

Anyone that want to purchase anything or make use of the deep web will make use of the privacy coin more because they are the ones that can really give full privacy protection aside the other top coins that are decentralized like bitcoin, which anyone can also use the chip mixer if they don’t want the transaction seen at all to the public for them to even try tracing it.

For privacy coins, I think that Monero is still the most active one, people use Monero a lot for this purpose and that is why when it comes to the king of privacy coin, it is Monero, but I think that in the future, the government might want to go after some of these privacy coins when the regulation starts and coins like Monero and the rest may really go into extinction leaving us with ones that can regulate.

oscarftw

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Quote from: DioBrandoCoin on November 13, 2019, 03:59:11 AM

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

I don't suggest you to visit those site for your curious. Those site are more dangerous than normal websites. This site are more secure if you are smart. There all people like privacy, so most of the people are using Bitcoin but now some are using Monero gold coin.

kevinzxz

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Quote from: DioBrandoCoin on November 13, 2019, 03:59:11 AM

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

in my opinion the cryptocurrency used to conduct transactions on the Deep Web is Bitcoin, because I often read articles and watch about the Deep Web, then on average the articles I read and videos that I see about the Deep Web explain that they make transactions using Bitcoin, therefore I am sure that Bitcoin is a cryptocurrency used for transactions on the Deep Web.

huige007

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Quote from: X-ray on November 16, 2019, 12:08:55 PM

Quote from: ?? on ??

Quote from: biddicoin on November 14, 2019, 10:32:17 AM

Bitcoin is the most used crypto in deep web for transaction

even there are many better privacy coins, but bitcoin is still the most for this case

IMF tells us about this case

Quote

A recent report by a leading crypto-payment analytic firm, Chainalysis, shows that Bitcoin transactions on the dark web grew from approximately $250 million in 2012 to $872 million in 2018. The firm projected that Bitcoin transactions on the dark web will reach more than $1 billion in 2019.

https://www.imf.org/external/pubs/ft/fandd/2019/09/the-truth-about-the-dark-web-kumar.htm

The dominance of Bitcoin is the reason why it is used widely in dark web. The anonymous altcoins also share the most used places in crypto transactions of Deep Web but the lack of transparency opens a hole in the underground which is main stage for entering another side of online world. The XMR, ZCASH are main payment gateway of the anonymous crypto transactions afaik.

The liquidity that's available is maybe one of reason why bitcoin is chosen and the fact that almost all people in the world know atleast ever heard of bitcoin that making it easy for them without the need of further explaining. I only hope that bitcoin is not being misused by some scumbag to do something illegal because that'd simply destroy the image of bitcoin although those people are only really small portion of bitcoin users. Those privacy coins also contribute to facilitates transaction I mean we actually dont really need true anonimity if we dont deal something illegal and I could imagine why many exchanges start to ban privacy coin.

we can say that bitcoin is the first digital currency and has the highest value. It is also not very easy to track its transactions and find the owners. People who deal in dark and deep web are definitely like the common users of internet. They are the tech geeks and all of them chase money. It is only about money in that world. So bitcoin naturally become their medium for doing business.

X-ray

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Quote from: ?? on ??

Quote from: biddicoin on November 14, 2019, 10:32:17 AM

Bitcoin is the most used crypto in deep web for transaction

even there are many better privacy coins, but bitcoin is still the most for this case

IMF tells us about this case

Quote

A recent report by a leading crypto-payment analytic firm, Chainalysis, shows that Bitcoin transactions on the dark web grew from approximately $250 million in 2012 to $872 million in 2018. The firm projected that Bitcoin transactions on the dark web will reach more than $1 billion in 2019.

https://www.imf.org/external/pubs/ft/fandd/2019/09/the-truth-about-the-dark-web-kumar.htm

The dominance of Bitcoin is the reason why it is used widely in dark web. The anonymous altcoins also share the most used places in crypto transactions of Deep Web but the lack of transparency opens a hole in the underground which is main stage for entering another side of online world. The XMR, ZCASH are main payment gateway of the anonymous crypto transactions afaik.

The liquidity that's available is maybe one of reason why bitcoin is chosen and the fact that almost all people in the world know atleast ever heard of bitcoin that making it easy for them without the need of further explaining. I only hope that bitcoin is not being misused by some scumbag to do something illegal because that'd simply destroy the image of bitcoin although those people are only really small portion of bitcoin users. Those privacy coins also contribute to facilitates transaction I mean we actually dont really need true anonimity if we dont deal something illegal and I could imagine why many exchanges start to ban privacy coin.

Faxmate

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Quote from: ?? on ??

Quote from: biddicoin on November 14, 2019, 10:32:17 AM

Bitcoin is the most used crypto in deep web for transaction

even there are many better privacy coins, but bitcoin is still the most for this case

IMF tells us about this case

Quote

A recent report by a leading crypto-payment analytic firm, Chainalysis, shows that Bitcoin transactions on the dark web grew from approximately $250 million in 2012 to $872 million in 2018. The firm projected that Bitcoin transactions on the dark web will reach more than $1 billion in 2019.

https://www.imf.org/external/pubs/ft/fandd/2019/09/the-truth-about-the-dark-web-kumar.htm

The dominance of Bitcoin is the reason why it is used widely in dark web. The anonymous altcoins also share the most used places in crypto transactions of Deep Web but the lack of transparency opens a hole in the underground which is main stage for entering another side of online world. The XMR, ZCASH are main payment gateway of the anonymous crypto transactions afaik.

Usage of crypto currencies in the dark web and deep web is free choice of hackers. Why am I just talking about hackers, because only they are smart enough to hide their digital marks efficiently. Bitcoin is the most expensive asset. It is also the best one when it comes to providing anonymity so it naturally becomes the first choice of hidden webs. Staying anonymous is most important for survival at such places.

takngantuk

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that I hear on the deepweb people use bitcoin and some privacy coins like monero and zcash. but the main choice is bitcoin, because bitcoin dominates the crypto market.

lobo13hf

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Quote from: befriendmywater on November 14, 2019, 07:48:13 AM

Quote from: DioBrandoCoin on November 13, 2019, 03:59:11 AM

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

Most of them often use coins that are not highly secure. They most commonly use are Dogecoin, Bitcoin, Dash and Monero.
I had previously visited a sales website on deepweb and they only collected those 4 coins. That is the information I know about this topic.

But again bitcoin still becomes a coin that is still used by the majority of people in the deepweb and we can use this news as a proof
https://thenextweb.com/hardfork/2019/10/14/europol-bitcoin-cryptocurrency-underground-organized-crime-monero-privacy/

Also, that depends on the service or people to accept what kind of crypto in their services. The correct result about how much popular any kind of crypto among them all can't be determined easily.

deodivine1

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Quote from: sheenshane on November 13, 2019, 04:52:06 AM

Bitcoin is very commonly used in the dark web but due to the high transaction fees, some others prefer to use altcoins. Like Monero, Ethereum, Litecoin, Bitcoincash, and Dash. But Litecoin has emerged as the second-most popular cryptocurrency that being used in the Darkweb.

See this link, https://www.investopedia.com/news/litecoin-gains-ground-bitcoin-dark-web/

As we can see, Litecoin has gained 30% that has made transactions in the Darkweb aside from Bitcoin that mainly use.

Nice analysis here, I learnt from it. I used to think mainly Bitcoin and Monero are mostly used for dark web operations, until I saw this point of view. How come LTC takes 30% of transactions by vendors on the darkweb? I thought privacy coins could have been more suitable for this purpose, well Monero and DASH are widely used too.

X-ray

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Quote from: biddicoin on November 14, 2019, 10:32:17 AM

Bitcoin is the most used crypto in deep web for transaction

even there are many better privacy coins, but bitcoin is still the most for this case

IMF tells us about this case

Quote

A recent report by a leading crypto-payment analytic firm, Chainalysis, shows that Bitcoin transactions on the dark web grew from approximately $250 million in 2012 to $872 million in 2018. The firm projected that Bitcoin transactions on the dark web will reach more than $1 billion in 2019.

https://www.imf.org/external/pubs/ft/fandd/2019/09/the-truth-about-the-dark-web-kumar.htm

Bitcoin is transparent crypto that has all the transaction recorded in the blockchain and still being used for dark web anyway although the majority of transaction might just be a legal transaction and minority of them is illegal but I do support if there's initiative from the government to fight against any illegal activities even if it involves Bitcoin so that it may reduce the usage of bitcoin for illegal transaction. The exponential growth of the bitcoin transaction in $ might somehow correlate with the fact that bitcoin price has spiked up significantly compared to in 2012 but well I don't have so much data to speak of it anyway.

biddicoin

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Bitcoin is the most used crypto in deep web for transaction

even there are many better privacy coins, but bitcoin is still the most for this case

IMF tells us about this case

Quote

A recent report by a leading crypto-payment analytic firm, Chainalysis, shows that Bitcoin transactions on the dark web grew from approximately $250 million in 2012 to $872 million in 2018. The firm projected that Bitcoin transactions on the dark web will reach more than $1 billion in 2019.

https://www.imf.org/external/pubs/ft/fandd/2019/09/the-truth-about-the-dark-web-kumar.htm

dimonstration

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Dimon69

Quote from: target on November 13, 2019, 06:22:49 AM

I thought the deeponion is also being used there. I'm not sure if there are merchants in out country that sells stuff in dark/deepweb right now but the last time I tried visiting there was none. There would be 3rd party escrow I guess or smartcontract when making transaction I guess in deepweb. If LTC is mostly used in deepweb the fact that they don't have privacy feature, there would be no need for privacy coins why create one?

I also thought Onion is made for that but as per their website stated "Important Note: We do not use referral links or receive payments from any darkweb market" , I thought before as it is advertised as an anonymous cryptocurrency which all crypto should be apparently no longer these day but onion also says that they allows to privately send high-speed transactions. There might be different alts uses this days by different transactions in darkweb like ltc,eth and etc. depending on fees.

Pearls Before Swine

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Quote from: ChrisPop on November 13, 2019, 04:34:46 AM

You'd think that the privacy-focused coins out there are most used in the deep/dark web. XMR, Dash, ZCash, BEAM, etc. are the ones that come to my mind

I've never actually been on the dark web and don't plan to, but I've read a lot about cryptocurrency use there on bitcointalk. Silk Road was famous for accepting bitcoin and I think btc still remains the dominant currency for dark markets.

I agree that you would expect coins with more privacy features to be used, regardless of the legality of what's being purchased and I'm not sure why coins like monero and dash aren't very popular on the deep web. They can still be converted to cash but maybe not as easily as bitcoin can be...?

Quote from: Dau1coduot on November 14, 2019, 05:57:31 AM

As in October this year U.S. and Korean authorities busted child porn criminal, they use Bitcoin as payment method.

It drive me crazy that bitcoin gets associated with that bullshit and that the association gets reported in the media as if bitcoin was the culprit, which it clearly isn't.

dark08

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Quote from: DioBrandoCoin on November 13, 2019, 03:59:11 AM

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

For sure theres a lot of way to make a transaction on deepweb but I'm sure that bitcoin is being use in deepweb transaction, personally I dont even try to dive on deepweb so I dont have any clue what the inside on deepweb.

Youghoor

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Quote from: DioBrandoCoin on November 13, 2019, 03:59:11 AM

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

For the cryptocurrencies used in the deep web, you don't need a rocket scientist to come and tell you that at least five to ten of the top cryptocurrencies on the crypto market are widely accepted on the deep web for transactions. To get more information regarding the crypto coins used on the deep web, trying browsing through the deep web, that will help clear all the doubts in your mind..

Landak

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I do not really know because I have never done transactions on the deep web, I am too afraid to enter the deep web (dangerous). I've ever read, Monero [XMR] is the most widely used for transactions in there because it is private and untraceable.

caffu chino

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bitcoin is the most commonly used, but there are also people who use monero (XMR). XMR has recently become popular since bitcoin transaction fees are quite expensive. XMR is an alternative choice for those who are in the deepweb.

befriendmywater

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Quote from: DioBrandoCoin on November 13, 2019, 03:59:11 AM

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

Most of them often use coins that are not highly secure. They most commonly use are Dogecoin, Bitcoin, Dash and Monero.
I had previously visited a sales website on deepweb and they only collected those 4 coins. That is the information I know about this topic.

Darooghe

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There are BTC and Monero, but majority of transactions on the deep web are done using Bitcoin because it is widely used. some marketplaces could try to shift over but it would be a big risk since they could loose all there customers who would rather only pay in Bitcoin. however, IP addresses are displayed and recorded by full nodes clients during transactions and anonymity is one of the primary concern for deep web users. thereby, I believe Monero is a popular alternative that anyone can trust. Right now, it is a tool in the privacy arsenal and it's far and away the best we've got in terms of financial privacy. Not only that, but it's improving all the time.

fuer44

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if this crypto is an anonymous transaction, I think all crypto in all types of coins can be used for transactions there. only the contact address is written there and our name will not appear there, and the only recorded in the blockchain ledger is our address and our transaction. it is enough to conduct transactions there, because clearly crypto is different from credit cards or accounts. but I suggest never to carry out illegal or negative transactions using crypto so that the government does not increasingly prohibit its circulation.

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