Topic: Why criminals prefer cash (Fiat) on top of crypto? - page 4. (Read 4823 times)
Most criminals only think briefly, he doesn't care about investments so they always choose cash over crypto, they certainly think to have big cash because they don't understand crypto and this is what makes me sure that corruptors or other criminal transactions will not use cryptocurrencies.
Some criminals might stick to Fiat currency, because in cryptocurrency transactions, there is a very high tendency that almost all transactions can be traced and can also be tracked. Any illigal transactions and money lundary can be traced and that's the use of our blockchain. I think Fiat is the easiest way for criminals.
It's not something we can generalize, for some old guys in the criminal waters fiat is the best way, for younger crypto is better and easier! And it's not just the difference between generations, small-time criminals who hang around the corner will definitely use more fiat, but the ones who think big and work on the global stage will probably find crypto as more suitable for moving money from one place to the other...
And in the end, I believe there are always exceptions! There are people (despite age and their position) who think out of the box, people who are ready to try new things and explore new possibilities, and to find the way that suits them best!
Indeed true that privacy coins keeps them from being identified since it is anonymous but when the time comes that they need to convert their coins into fiat currency then that time they are no longer anonymous because transactions like that needs proper identification to convert it into cash. But there are still some loopholes that they can use because the system itself is flawed.
Still they can't make a stronghold within the crypto space because they know there will be a time that the government will and eventually can crack them. So instead of privacy coins they still prefer fiat so some various reasons.
On the whole, there are ways how to withdraw money anonymously. Or you can spend it for online purchases. The other question is that not all privacy coins are really private. So it's better to choose coins that have their own decentralized exchanges, like Crypton does. As many of so-called privacy coins still can be tracked or will be tracked once you'll decide to exchange it on a regular exchange. Still they can't make a stronghold within the crypto space because they know there will be a time that the government will and eventually can crack them. So instead of privacy coins they still prefer fiat so some various reasons.
I believe one major reason also is how they are educated on how to use crypto. Most of them will prefer the traditional fiat method vs crypto, as I think, most of them don't know yet how to deal with crypto. If they have been using fiat for long time, most of them won't divert their way of doing things. However, for maybe younger generation of criminals, they will explore their opportunities in crypto. They are way easier to learn this new currency and more than likely, more willing to explore new method of dealing with their funds. Criminals will always find their way in this market. I think we can't stop them from using it once they got acquainted of the technology.
That's certainly true, mate. Lack of education is one of the main reasons why criminals still use Fiat on top of crypto up to this date. If they knew how to use it properly, they would've done the switch already. I think criminals will use privacy-oriented cryptocurrencies for illicit activities, because transactions are completely obfuscated from third parties. Not like Bitcoin or Ethereum where everything is visible on a public blockchain ledger. This will be a huge blow to cryptocurrencies like Monero and Grin, as governments start cracking down on them to prevent criminals from "doing their thing".
What matters is that crypto stays decentralized and censorship-resistant to help stand the test of time. Criminal activity on crypto is the least reason to worry about if governments do their part. Since the market is mostly dominated by centralized exchanges, it's easy enough to detect suspicious transactions. Fiat is still the dominating form of currency, so governments will "ignore" crypto at least for a while. Just my opinion
As of late, crypto has become extremely popular due to the negative effects of COVID-19 in the mainstream economy. People are starting to consider crypto to be a safe-haven against the traditional monetary system empowered by banks worldwide. Yet, the vast majority still relies on Fiat for day-to-day transactions because of its price stability and widespread acceptance in the mainstream world.
With the advent of privacy coins, people can enjoy true financial freedom like never before. Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions. I'm starting to wonder why, since Fiat (physical cash) is not as anonymous as one thought it would be. Privacy coins are truly anonymous (especially those that are private by default like Monero and Grin), as there is no central authority behind them. Maybe criminals prefer Fiat because of its high level of adoption in the mainstream world? Or maybe because Fiat has an easier learning curve than crypto?
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
With the advent of privacy coins, people can enjoy true financial freedom like never before. Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions. I'm starting to wonder why, since Fiat (physical cash) is not as anonymous as one thought it would be. Privacy coins are truly anonymous (especially those that are private by default like Monero and Grin), as there is no central authority behind them. Maybe criminals prefer Fiat because of its high level of adoption in the mainstream world? Or maybe because Fiat has an easier learning curve than crypto?
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
People often confuse and mix up the different purposes of these digital currencies. There are some instances where it may be useful to have anonymity but for many day to day transactions it could be totally unnecessary, you simply want a digital version of physical cash which enables you to buy things. If I wanted to buy a book from a shop, I'm not super concerned about privacy that seems to be the endless quest that some people connect with cryptocurrency. The fact that nobody knows the wallet keeper with crypto like Bitcoin will be enough anonymity for most people. It is definitely true that criminals desire more privacy and chase these other coins because they want to "clean" the money that has been gathered through various illegal sources, it's all about finding a balance and holding a coin with a good reputation.
It's easier and more convenient to use fiat than you buy a coin then convert to fiat and now exchanges are mandating KYC for those who trade with a large volume of transactions every day or by means of fiat money. For P2P convenience, another big problem is that when converting to fiat money on the exchange, you have to KYC. In fact, using the internet nowadays is very easy to leave traces and locations I think criminals have the mindset that fiat money is more convenient than cryptocurrencies, which carries a higher risk for them.
With privacy coins and decentralized exchanges, KYC no longer becomes an issue. Criminals can remain out of the radar if they make use of decentralized and anonymous alternatives. The reason why most of them are using Fiat on top of crypto is because Fiat is stable. Not to mention, most merchants and businesses accept Fiat as payment method. Crypto's wild fluctuations in price tells us that it's more suitable as a speculative instrument than a real currency for day-to-day payments. I'd prefer criminals to stay away from crypto as much as possible so governments can give the "green light" for the industry's growth. The more legitimate uses crypto has, the better it'll be for its mainstream adoption. Just my thoughts
I believe one major reason also is how they are educated on how to use crypto. Most of them will prefer the traditional fiat method vs crypto, as I think, most of them don't know yet how to deal with crypto. If they have been using fiat for long time, most of them won't divert their way of doing things. However, for maybe younger generation of criminals, they will explore their opportunities in crypto. They are way easier to learn this new currency and more than likely, more willing to explore new method of dealing with their funds. Criminals will always find their way in this market. I think we can't stop them from using it once they got acquainted of the technology.
It's easier and more convenient to use fiat than you buy a coin then convert to fiat and now exchanges are mandating KYC for those who trade with a large volume of transactions every day or by means of fiat money. For P2P convenience, another big problem is that when converting to fiat money on the exchange, you have to KYC. In fact, using the internet nowadays is very easy to leave traces and locations I think criminals have the mindset that fiat money is more convenient than cryptocurrencies, which carries a higher risk for them.
With privacy coins and decentralized exchanges, KYC no longer becomes an issue. Criminals can remain out of the radar if they make use of decentralized and anonymous alternatives. The reason why most of them are using Fiat on top of crypto is because Fiat is stable. Not to mention, most merchants and businesses accept Fiat as payment method. Crypto's wild fluctuations in price tells us that it's more suitable as a speculative instrument than a real currency for day-to-day payments. I'd prefer criminals to stay away from crypto as much as possible so governments can give the "green light" for the industry's growth. The more legitimate uses crypto has, the better it'll be for its mainstream adoption. Just my thoughts
to make some transactions way more anonymous or cant be known which tracing becomes even more harder which its just understandable that they would really get this kind of option because they do know
that they could at least cover up their tracks and less likely to get caught but in the end of the day they will surely stick out with fiat.
It's easier and more convenient to use fiat than you buy a coin then convert to fiat and now exchanges are mandating KYC for those who trade with a large volume of transactions every day or by means of fiat money. For P2P convenience, another big problem is that when converting to fiat money on the exchange, you have to KYC. In fact, using the internet nowadays is very easy to leave traces and locations I think criminals have the mindset that fiat money is more convenient than cryptocurrencies, which carries a higher risk for them.
With privacy coins and decentralized exchanges, KYC no longer becomes an issue. Criminals can remain out of the radar if they make use of decentralized and anonymous alternatives. The reason why most of them are using Fiat on top of crypto is because Fiat is stable. Not to mention, most merchants and businesses accept Fiat as payment method. Crypto's wild fluctuations in price tells us that it's more suitable as a speculative instrument than a real currency for day-to-day payments. I'd prefer criminals to stay away from crypto as much as possible so governments can give the "green light" for the industry's growth. The more legitimate uses crypto has, the better it'll be for its mainstream adoption. Just my thoughts
It's happening now, before Bitcoin represent crypto in digitl space is being use most of the time by illegal transactions,
having negative views from people who don't really understand the value and always listen to fuds and negative media
reports. Look now, with ahuge acceptance from institutional investors the market is moving positively and gained numbers
of trust from current investors.
It's easier and more convenient to use fiat than you buy a coin then convert to fiat and now exchanges are mandating KYC for those who trade with a large volume of transactions every day or by means of fiat money. For P2P convenience, another big problem is that when converting to fiat money on the exchange, you have to KYC. In fact, using the internet nowadays is very easy to leave traces and locations I think criminals have the mindset that fiat money is more convenient than cryptocurrencies, which carries a higher risk for them.
With privacy coins and decentralized exchanges, KYC no longer becomes an issue. Criminals can remain out of the radar if they make use of decentralized and anonymous alternatives. The reason why most of them are using Fiat on top of crypto is because Fiat is stable. Not to mention, most merchants and businesses accept Fiat as payment method. Crypto's wild fluctuations in price tells us that it's more suitable as a speculative instrument than a real currency for day-to-day payments. I'd prefer criminals to stay away from crypto as much as possible so governments can give the "green light" for the industry's growth. The more legitimate uses crypto has, the better it'll be for its mainstream adoption. Just my thoughts
As of late, crypto has become extremely popular due to the negative effects of COVID-19 in the mainstream economy. People are starting to consider crypto to be a safe-haven against the traditional monetary system empowered by banks worldwide. Yet, the vast majority still relies on Fiat for day-to-day transactions because of its price stability and widespread acceptance in the mainstream world.
With the advent of privacy coins, people can enjoy true financial freedom like never before. Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions. I'm starting to wonder why, since Fiat (physical cash) is not as anonymous as one thought it would be. Privacy coins are truly anonymous (especially those that are private by default like Monero and Grin), as there is no central authority behind them. Maybe criminals prefer Fiat because of its high level of adoption in the mainstream world? Or maybe because Fiat has an easier learning curve than crypto?
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
With the advent of privacy coins, people can enjoy true financial freedom like never before. Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions. I'm starting to wonder why, since Fiat (physical cash) is not as anonymous as one thought it would be. Privacy coins are truly anonymous (especially those that are private by default like Monero and Grin), as there is no central authority behind them. Maybe criminals prefer Fiat because of its high level of adoption in the mainstream world? Or maybe because Fiat has an easier learning curve than crypto?
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
Indeed true that privacy coins keeps them from being identified since it is anonymous but when the time comes that they need to convert their coins into fiat currency then that time they are no longer anonymous because transactions like that needs proper identification to convert it into cash. But there are still some loopholes that they can use because the system itself is flawed.
Still they can't make a stronghold within the crypto space because they know there will be a time that the government will and eventually can crack them. So instead of privacy coins they still prefer fiat so some various reasons.
As of late, crypto has become extremely popular due to the negative effects of COVID-19 in the mainstream economy. People are starting to consider crypto to be a safe-haven against the traditional monetary system empowered by banks worldwide. Yet, the vast majority still relies on Fiat for day-to-day transactions because of its price stability and widespread acceptance in the mainstream world.
With the advent of privacy coins, people can enjoy true financial freedom like never before. Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions. I'm starting to wonder why, since Fiat (physical cash) is not as anonymous as one thought it would be. Privacy coins are truly anonymous (especially those that are private by default like Monero and Grin), as there is no central authority behind them. Maybe criminals prefer Fiat because of its high level of adoption in the mainstream world? Or maybe because Fiat has an easier learning curve than crypto?
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
With the advent of privacy coins, people can enjoy true financial freedom like never before. Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions. I'm starting to wonder why, since Fiat (physical cash) is not as anonymous as one thought it would be. Privacy coins are truly anonymous (especially those that are private by default like Monero and Grin), as there is no central authority behind them. Maybe criminals prefer Fiat because of its high level of adoption in the mainstream world? Or maybe because Fiat has an easier learning curve than crypto?
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
Indeed true that privacy coins keeps them from being identified since it is anonymous but when the time comes that they need to convert their coins into fiat currency then that time they are no longer anonymous because transactions like that needs proper identification to convert it into cash. But there are still some loopholes that they can use because the system itself is flawed.
Still they can't make a stronghold within the crypto space because they know there will be a time that the government will and eventually can crack them. So instead of privacy coins they still prefer fiat so some various reasons.
Some of them use the casino, exchangers and any of thing available that can help them to get out their stolen money, for sure those criminals knows how to do that since for the series of events where scammers millions of dollars from their victims for sure they have a lot of dummy accounts nor someone help them to withdraw it without anyone getting notice about it.
Also they prefer fiat its because they can use it anywhere rather than crypto where they cannot easily pull it out once they need something in terms of emergency.
As of late, crypto has become extremely popular due to the negative effects of COVID-19 in the mainstream economy. People are starting to consider crypto to be a safe-haven against the traditional monetary system empowered by banks worldwide. Yet, the vast majority still relies on Fiat for day-to-day transactions because of its price stability and widespread acceptance in the mainstream world.
With the advent of privacy coins, people can enjoy true financial freedom like never before. Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions. I'm starting to wonder why, since Fiat (physical cash) is not as anonymous as one thought it would be. Privacy coins are truly anonymous (especially those that are private by default like Monero and Grin), as there is no central authority behind them. Maybe criminals prefer Fiat because of its high level of adoption in the mainstream world? Or maybe because Fiat has an easier learning curve than crypto?
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
With the advent of privacy coins, people can enjoy true financial freedom like never before. Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions. I'm starting to wonder why, since Fiat (physical cash) is not as anonymous as one thought it would be. Privacy coins are truly anonymous (especially those that are private by default like Monero and Grin), as there is no central authority behind them. Maybe criminals prefer Fiat because of its high level of adoption in the mainstream world? Or maybe because Fiat has an easier learning curve than crypto?
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
Indeed true that privacy coins keeps them from being identified since it is anonymous but when the time comes that they need to convert their coins into fiat currency then that time they are no longer anonymous because transactions like that needs proper identification to convert it into cash. But there are still some loopholes that they can use because the system itself is flawed.
Still they can't make a stronghold within the crypto space because they know there will be a time that the government will and eventually can crack them. So instead of privacy coins they still prefer fiat so some various reasons.
As of late, crypto has become extremely popular due to the negative effects of COVID-19 in the mainstream economy. People are starting to consider crypto to be a safe-haven against the traditional monetary system empowered by banks worldwide. Yet, the vast majority still relies on Fiat for day-to-day transactions because of its price stability and widespread acceptance in the mainstream world.
Look outside and see how people live and what they are doing, you'll clearly see that they don't need crypto for day-to-day activities and fiat is enough for that. Do you want a volatile coin that can bring you chicken today but maybe you won't be able to buy egg tomorrow? Or the opposite can happen, you can buy egg today or be left hungry but you may have chicken tomorrow. Yeah, price is very volatile and that's why people prefer fiat. They can use USDT or any other stablecoins but fiat just does the thing!With the advent of privacy coins, people can enjoy true financial freedom like never before.
First of all, Financial freedom starts from the moment when you are able to feed yourself without the help of others. In poor countries, that's impossible. When you are financially free, then bitcoin and cryptocurrencies just can fulfill that freedom the way you mentioned.Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions.
Where are you from? There are old generation criminals, from 70s, 80s that don't have any idea what the hell bitcoin is. Bitcoin isn't anonymous btw and the less criminal uses it, the better for everyone. And finally, those coins are converted into fiat, we never measure the price of things in fixed btc prices, it's always volatile as price in USD changes. 
because they don't want to be complicated and bothered with conversions and the like they prefer direct exchange, this is the same as bartering and buying and selling in traditional times with the assumption that there is money then there are goods (drugs).
indeed maybe not all use things like this but most will stay like that by using a barter system like most others.
they don't want anything modern I think because maybe even their money is placed not only in fiat but in other forms for example stored in safes or certain places.
indeed maybe not all use things like this but most will stay like that by using a barter system like most others.
they don't want anything modern I think because maybe even their money is placed not only in fiat but in other forms for example stored in safes or certain places.
In the reality of the little that can be known from the flank where we are, that is, we really know how organized crime operates that move large sums of money, that is, it is perhaps not so objective in the current present to think that only fiat money works for crime as your favorite.
There are so many ways to move traditional money and assets today that crypto seems to just be an addition to the complex web of organized crime.
Then the Cash is obvious that remains for common crime always be your favorite. But maybe you have an address or a flash drive at hand.
There are so many ways to move traditional money and assets today that crypto seems to just be an addition to the complex web of organized crime.
Then the Cash is obvious that remains for common crime always be your favorite. But maybe you have an address or a flash drive at hand.
This thread is very interesting, in the case of those who always think that only bad things are done with crypto and that is not the case, if we go to a very basic example like in Colombia, a drug dealer does not trust Crypto, they trust it is what that fiat money weighs, because they don't even count the money, they only know the weight of $ 1M, or similar figures, and for them, insurance is what should be trusted.
If we take into account that any activity with great technology serves to make many arrangements and solutions in life, as well as solves and fixes there are many who will want to use it for bad activities, usually privacy coins are widely used by Those who want to preserve their privacy and anonymity, but as long as the criminals decide to study about crypto I think they will waste time because they stop doing bad activities, so for me this is progressive, they will always find the ways for bad practices, and currently every drug trafficker , or criminal in the world, I imagine that you must have your professional team of hackers, and financial analysts as advisers, by any way who wants to do harm, will do it.
If we take into account that any activity with great technology serves to make many arrangements and solutions in life, as well as solves and fixes there are many who will want to use it for bad activities, usually privacy coins are widely used by Those who want to preserve their privacy and anonymity, but as long as the criminals decide to study about crypto I think they will waste time because they stop doing bad activities, so for me this is progressive, they will always find the ways for bad practices, and currently every drug trafficker , or criminal in the world, I imagine that you must have your professional team of hackers, and financial analysts as advisers, by any way who wants to do harm, will do it.
As of late, crypto has become extremely popular due to the negative effects of COVID-19 in the mainstream economy. People are starting to consider crypto to be a safe-haven against the traditional monetary system empowered by banks worldwide. Yet, the vast majority still relies on Fiat for day-to-day transactions because of its price stability and widespread acceptance in the mainstream world.
With the advent of privacy coins, people can enjoy true financial freedom like never before. Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions. I'm starting to wonder why, since Fiat (physical cash) is not as anonymous as one thought it would be. Privacy coins are truly anonymous (especially those that are private by default like Monero and Grin), as there is no central authority behind them. Maybe criminals prefer Fiat because of its high level of adoption in the mainstream world? Or maybe because Fiat has an easier learning curve than crypto?
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
It's easier and more convenient to use fiat than you buy a coin then convert to fiat and now exchanges are mandating KYC for those who trade with a large volume of transactions every day or by means of fiat money. For P2P convenience, another big problem is that when converting to fiat money on the exchange, you have to KYC. In fact, using the internet nowadays is very easy to leave traces and locations I think criminals have the mindset that fiat money is more convenient than cryptocurrencies, which carries a higher risk for them. With the advent of privacy coins, people can enjoy true financial freedom like never before. Privacy coins can become attractive tools for illicit activities because of their untraceable blockchain ledger. Despite all of the benefits privacy coins provide, criminals still rely on Fiat for all of their nefarious actions. I'm starting to wonder why, since Fiat (physical cash) is not as anonymous as one thought it would be. Privacy coins are truly anonymous (especially those that are private by default like Monero and Grin), as there is no central authority behind them. Maybe criminals prefer Fiat because of its high level of adoption in the mainstream world? Or maybe because Fiat has an easier learning curve than crypto?
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
Criminals always prefer fiat money since then, it is because if they were to make a heist in a group then fiat money easy and best way to divide it according to the plan and also it is untraceable. Even if it comes directly from the bank, the government can't track all those cash (fiat) that have scattered remotely.
While if they plan to attack on crypto, the chances of making it successful is too small and it's not worth of their time. Most of the criminals are in need of instant cash and not in the form of cryptos because if they were to exchange it in cash then they'll be having a hard time to cover their tracks.
While if they plan to attack on crypto, the chances of making it successful is too small and it's not worth of their time. Most of the criminals are in need of instant cash and not in the form of cryptos because if they were to exchange it in cash then they'll be having a hard time to cover their tracks.
If by any means criminals start adopting crypto in mass (especially privacy coins), we could expect a full government crackdown on the entire industry. Which is why I think it's best for criminals to continue using Fiat for the sake of the crypto/Blockchain industry's growth worldwide. But we'll never know what will happen in the future. Thoughts?
Fraudulency is obviously observed in both fiat and Cryptocurrency, the main idea is that in fiat there are many loopholes to penetrate various elements of scam and theft such as physical or forceful acquisition in form of armed robbery, attacks on banks, pick pockets, careless in handling money, dubiousness, falsification, fake and pretendance for quality, among others.
while Cryptocurrency only has the highest victim of such to be on newbies, who don't have the full knowledge on how to identify criminality elements in disguise for promotions, free gifting of crypto, fake bounties, among others, and one can also be careless in revealing the logging credentials to wallets to the criminals.
Another interesting point is that fiat criminality can be operated by learnerd and uneducated personalities but Cryptocurrency need an expert already into crypto, skilled and equipped with digital informations, steady internet, smartness and skillful on information and technology system.
If you are scammed in crypto its as a result of your unscrupulous alertness and lack of technical know how, which the blame should be attributed to you. In a nutshell it is easier to operate fiat criminality than in crypto
Criminals don't have an opportunity to trade crypto with their fiat.
For what reason would they picked the crypto when they can take the cash without burning through their time.
They never do online exchanges they generally met someplace and exchange weapons and drugs.
You can not buy or exchange drugs, weapons, and illegal things online so they prefer money more than fiat.
There's another likelihood that these crooks don't know about bitcoin or blockchain innovation the less information on bitcoin constrains them to utilize fiat than some other crypto.
For what reason would they picked the crypto when they can take the cash without burning through their time.
They never do online exchanges they generally met someplace and exchange weapons and drugs.
You can not buy or exchange drugs, weapons, and illegal things online so they prefer money more than fiat.
There's another likelihood that these crooks don't know about bitcoin or blockchain innovation the less information on bitcoin constrains them to utilize fiat than some other crypto.
Exactly. There are many limitations when it comes to using crypto for illegal activities than it's the case with Fiat. You need to have some sort of technical knowledge to be able to use crypto properly. With Fiat, that's another story. You can use Fiat in an offline manner, and even pay for goods and services everywhere due to widespread merchant acceptance. Not only that, but Fiat is stable whereas crypto is not.
If someday criminals decide to use crypto, I think they'll resort to privacy coins like Monero and Zcash. After all, transactions are obfuscated from prying eyes (not like transparent cryptos where everything is visible on a public blockchain ledger (eg: Bitcoin, and Ethereum)). Crypto surveillance techniques are getting more sophisticated each day, so it'll be hard to preserve anonymity if you're not very knowledgeable about crypto/Blockchain tech. I'd prefer criminals to stay away from crypto as much as possible, so the industry would flourish without any obstacles (eg: government crackdowns) whatsoever. Just my opinion
Jump to: