Bitcoin Forum

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

Of course it can be....
Everything in this world can be used for either good or evil...
Btc maybe a way for others to earn a living in a leagal way..
But we cant deny the fact that there are people out there who will see this as an opportunity to conduct their illegal activities..
Especially since dealing with cryptocurrency can be done anonymously...

It had been used for years now but not until recently it became famous. Here in the Philippines, you can buy bulks and kilos of drugs without the risk of being caught by using crypto currencies or other third party payment apps like paypal or exchange sites.

Of course the elites use it but not all elites, if all elites use Bitcoin I think Bitcoin prices will rise high.

Dark markets

I haven't thought about this, but maybe this is possible, almost all elites are aware of cryptocurrency and I think it's possible they are using this for their transactions. Just imagine it's less hassle and it's easier to transfer money through bitcoin. So, it's really ideal to use bitcoin for this kinds of transactions.

It might depend on what you consider "elites". I believe that certain vendors on dark markets became quite rich and in a way, became the new drug cartels. I assume that there will be new cartels popping up from the dark markets and that the old ones start using the dark markets.

Bitcoin has great value now. And it is quite likely that he attracts not only dopooporjadnyh people, but also criminal structures. But bitcoin is not to blame for this. This is just an instument, the same as the dollar

Well, this makes sense, I think it's safer for syndicates to transact their dirty business through cryptocurrency trading or transactions. Less hassle and it's safer for them. They wouldn't worry about police following them when transacting or paying/receiving their money from their clients.

Btw last time Dashcoin is becoming more popular in deep web :) Anyway most of the estemates of the BTC drug market were small af. It is usually less than bitcoin's daily cash flow so it is not a big problem. At least not yet :)

The advantage with the dark markets is that they are quite anonymous and safe. You don't have to go to the street, in order to get your daily dosage of weed. But at the same time, this method is not 100% risk-free. Occasionally, cops trace the buyer using the delivery address.

Well i think we're certain that it would be utilized as well. Bitcoin has everything that drug cartels would hope for to have smooth and safe transactions.

We can not assume, we can be sure, that elites are using the Bitcoin or other cryptos for drugs trade. No matter how much we sing songs for Bitcoin, but the dark truth is that it does give much more power to the bad people too. Trade drugs, weapons and even people with cryptos and you are almost invisible. Crypto community has to find a solution for this, or it will harm us only in the long term....

this topic makes me think that bitcoin or any currency is already uses in trading drugs or in any illegal transaction online..

Yeah its possible that bitcoin or other cryptocurrency can b used in illegal drug trade because of its anonimous and safe to buy any illegal items or weapons.

Sure, it is money after all. Money is a tool and everyone is able to use will use it. And that goes with any fiat currencies.

Well, that is the truth. In 2011-2012, As much as 20% or 25% of all the Bitcoin transactions were drug-related. Now this proportion has declined to less than 2%, mainly thanks to the rise in the exchange rates. Also, a lot of the dark markets have closed down, including Silk Road, Silk Road 2.0, Agora, Alphabay, Sheep Market Place, and Hansa.

just same question with if bitcoin already being use in a illegal transaction, as far as I can see this already exist since bitcoin already been popular with digital industry so even drug elite got an idea about decentralized currency so they will take advantage on it.

Drug are really not that big of a problem in the world, it is only a problem when it is illegal. Legalization is probably the future that awaits us. Weapons are also quite at large legal in USA. A lot of these things fit with the idea of Bitcoin as people's right to be free from governments. There will still be other things that are actually really dangerous, but they will always be a very small minority of the trades. And Bitcoin mainly brings privacy to the people in a huge group, not the individuals that already had to figure out the more covert ways. With the Panama papers we saw that the rich already have a way of to anonymously send and store money.

I agree with you. Bitcoin can be equated to money, and therefore use them not only for good purposes, but also to harm people. But the currency is not to blame for this.

Drugs is regarded as the less vices when it comes to commodities that uses bitcoins for transaction, I have always said that terrorism sponsoring is the most dangerous thing when people uses bitcoins to finance such groups and due to its high anonymity, there is nothing that can be done to stop this thing

Yes bitcoin now are related to drug trade in dark market they using bitcoin as payment method to pay those drugs that will delivered or ship into their house door to door or by meet ups bitcoins can be safe because you don't know what exactly items you buy because its completely anonymous

I haven't heard about many instances in which Bitcoin was used to fund or sponsor terrorist attacks. Most of the terrorists use physical cash, because it is more anonymous when compared to Bitcoin.

Of course, like other currencies, it can be used for illegal operations, but bitcoin has an advantage because of its anonymity. Everyone decides for what purposes he should use the crypto currency.

Well, as long as it involves money that is so easy to get and not easily traced,  im sure drug cartels use it.  And not only drug trade,  maybe more.  Who knows what illegal businesses is using and exploiting cryptocurrencies in order to evade authorities.

this is not impossiblle but i hope this will never happen because og this many childrenn will be lost on their dreams..
many will be affected again angd much worse those criminal acts ..
thos rapist under the influence of drugs .. those murderer.. robbery that exist because of eagerness to have the money to support their  adddiction

One of the very first applications for Bitcoin was in the dark markets. Back in 2011 and 2012, very few sites other than the dark markets and gambling sites were accepting Bitcoin as a mode of payment.

Well as my understandings cartel people are smart and the are adapt with technologies, new equipment, etc. So yes of course BTC is being use as currency exchange for drugs too.

I hope it will not be an instrument to harm people. Bitcoin is develop for a noble purpose. It is developed to help people and make things safer and easier, may it be used for that purpose.

We can not be sure if drug cartels are using bitcoin for there elicit operation. We can speculate how bitcoin been using for by drug cartels. Bitcoin transaction is anonymous and you don't know how transactions were made across all the exchangers platforms.

Bitcoin should be only use by people who are responsible to it. Drug trade is not a good habit that we should support but instead we should stop it. If bitcoin will use in drug trade, we are not sure if our money will be safe because we all know that drug users will do anything to get some money to buy drugs. Me, I don't like the idea that the bitcoin will use in a bad way because bitcoin users want to have a safe money.

I don't get it, like there was no drug/weapons trafficking before bitcoin :) ...That's nonsense, if someone wants to trade and pay on the illegal way, he will do it no matter cryptocurrencies.

Yes. Of course it can be used for such a transaction as everything and anythig can be converted into evil depending on the purpose of the user. And with techinologies kaking life easier we can also safely assume that even illegal transactions are carried out the same way.

Yes we can assume and it's not unwise to consider that certainly bitcoin is being used for drug trades. I'm not sure how this can be regulated but crypto's nature is an advatage for people doing illegal transactions. I hope that one day there will be a time when we canndetermine whether a transaction is legal or not but that's not yet the case today

This is just like asking whether the people who engage in all his illicit affairs have not been carrying out their activities before bitcoin, or people have not been doing freelancing before bitcoin, these are fundament things that have been happening and if bitcoin serves as a currency it does not discrimate for users to use it. And if another currency comes out tomorrow and accepted then it will be used for all this purposes.

Of course, bitcoin can be used to drive drugs like any other currency. From this you can not go anywhere while there are drugs and there is a demand for their purchase.

The demand will be there as long as the humanity exists in this planet. Look at countries such as Saudi Arabia and Singapore. In these countries, possessing even minute quantities of drugs can get you the death sentence. But even then, there are tens of thousands of drug addicts in these countries. It is a matter of luck. If you are lucky, then you avoid capture.

it will break the reason why bitcoin was created being decentralized is one of the unique features of bitcoin and like what you have said illegal doers
will take advantage of this system they will use the platform to transact and to cash out their money as clean as they can.

I am sure BTC can be related to any market sector and drug trade isn't an exception. If the price of a unit has been increasing so rapidly withing a really short time don't you think there might be special reasons. If crypto currency is initially decentralized why wouldn't "elite" authorities enjoy and use if for illegal transactions.

I wish it will not come to that kind of scenario, that bitcoin will become related to drug transaction or drug trade. Do not ever think to used the money you earn here in the wrong way or in a illegal way. Do not over use this kind of opportunity given to us because no one knows when it will be gone. Just work legal and fair.

I think this is possible because it would be easier and safer for them to do their transactions if they will use cryptocurrency. They wouldn't need to be cautious and scared if police are watching them. Well it's quite disappointing that cryptocurrency could be used to do bad things.

Of course bitcoin can be used into illegal things since bitcoin is completely anonymous where no one see where it came from and no one will know whats that payment for we are now in new generation that technology runs everything how come on internet where also from dark web where there are lots of illegal drug users and sellers.

some drug user use bitcoin to buy drugs, I read some site or page that in market that you can use bitcoin as value so they have an discount thats why too many people buy on that market and also it has an easy transaction so it is hard to manipulate by government.

Discount is not the primary reason. In most cases, drugs are cheaper on the street than in the dark market. But the quality is usually better when you purchase the stuff from dark market. Also, the safety issue is there.

There is a lot of possibility that it does. I guess there is no way to track those but o hope soon enough they'll find solution about it.

I think that some people use this method for trade in cigarettes, because bitcoin is anonymous and has the property to rapidly raise the price. The deal thus becomes more profitable for them.

I didn't think about this before and I think it is possible to use it on drug transactions. Anyway not only bitcoin is use by drug sindicate because they'll always finds a way to deal drugs.

I  think it should be  stopped anyway!

Bitcoin is not to blame for driving drugs and using it as a currency. Drugs have long existed and are selling them with the help of any currencies or those things that are of great value.

Yes it can be used in drug cartels, specially that it is more convenient and the dealers can stay anonymous when transacting online. Although bitcoin is used by Drug cartels it is not the Bitcoins fault, it is merely an online currency that provides a more convenient way of transaction, i believe that even if btc never existed they would still transact, it is just that btc for them is the most fastest and safest way to not be caught by the police.

Yes it is possible specially Bitcoins is now world wide. But I wish it will not come to the point that bitcoin is related into illegal activities. Activities that will hurt somebody. Lets not abuse this kind of opportunity because we did not know until when this bitcoin will exist.

It can really happen. Drug traders are pursued by authorities so they will use an alternative just to continue their illegal activities. This is actually not surprising.

its the users responsibilities mate and we cant avoid things like this to happen even criminals is more advanced than regular bitcoiners so just be prepared just incase things happen and always remember that bitcoin is not exempted since its accepted as a currency it will use in any transaction which involved money.

While using the dark markets, there are no intermediaries between the drug seller and the drug user. But that is not the case when you purchase drugs from the street. Multiple intermediaries are involved.

I think this is possible, because transactions through cryptocurrency leave no trace, it's safer for drug syndicates to transact through it. It's faster and safer so I think it's more convenient for them to use bitcoin for most of their transactions. Compared to using banks or transferring fiat money from people to people, they would avoid being caught.

Bitcoin now is not that safe for dark trade like drugs. Better use other crypto like dash or monero , that's why dark web prefer now other alt coin than BTC cause it can be easily tracked!

Bitcoin is the usual currency. Why not use it to purchase illegal goods? Before bitcoin it was impossible to buy drugs? Or nobody can do it for any currency in the world? Bitcoin is only a measure of the price, and everything else depends on people.

In Germany, there was the founder of shiny flakes arrested two years or so ago. They found a few hundred kilos of drugs in his room at his parent's house.

He was 20 years or so and was sentenced to 6 years or something like that. He will be out next year.

I read that the police knows he has hidden Bitcoins worth millions but they can not find it. All of us know that Bitcoin is worth 5 times more now than two years ago...

He is a multi-millionaire and probably made more money with holding Bitcoins than with drug trading.

I am sure he is not the only guy...

Drug cartels for sure use Bitcoins to hide and transfer money because of all the advantages!

Al Capone would have Bitcoins if he had lived now :-)))

Of course, de bitcoin is used in the drug trade as it is a currency, but elites can use other methods of payment. Drug trafficking has appeared much earlier bitcoin and it will exist even if bitcoin disappears.

it may happen, it is possible about the use of bitcoin in drug transactions, because bitcoin is a currency that can already be used in various countries and safe to use.
in the meantime, there is no standard rule on the use of bitcoin, there has been no state government intervention about bitcoin and perhaps some countries are studying about bitcoin in order to set rules of use.

Yeah i agree with you

Even before popular like now, bitcoin was a daily use for drug user, and now it's spread everywhere, of course big criminals will join too. Like young politcians who know tech update will use this chance to corrupt some gov money, who can trace them ? or some investors for terrorists ?

REMEMBER !!!
not only bitcoin, but all cryptocoins have a same possibility to use for bad things now.

I think that it was worth expecting. Much to our regret the problem of drugs in any case sooner or later would have touched bitcoin.

this is how i got into bitcoin :D bought some weed with 15 btc, no regrets (that was around 2012-2013). we dont rly know anything about satoshi, he could be some CIA person IRL or drug cartle boss or... CIA does the most of drug deals worldwide so...

Any currency and even gold can be used when trading in narcotics. Unfortunately, nothing can be done about this since they are of great value and are used for calculations.

Most of the time, it is physical cash which is the medium of payment for drugs. Because physical cash is more anonymous than Bitcoins. EUR 500 banknotes are the preferred medium of drugs payment in the European Union. And that is the reason why the law enforcement authorities want the governments to ban high denomination banknotes.

Immaterial at all. FIAT is used for illegal transactions even prior to bitcoin being invented.

Since bitcoin/alts are sort of a currency, then it will be used for illegal transactions as well.

I do not think that using bitcoin when selling drugs is safer than cash when meeting. The bitcoin transaction can be tracked on the Internet, but the transfer of cash in the suitcase will be much more difficult to track.

With all darkmarkets disappearing, I think it's safe to say some anon coin will step up and take over the drug trade.

That's absolutely true, you can't blame bitcoin for the surge in drug trade, Its just that now its far easier to launder money with bitcoin than laundering the actual cash but still people do launder money even without bitcoins. Even when bitcoins is gone they are still going to do it.

Scammers will always find a way to launder money or anonymously sell drugs. And it does not matter what they will use - crypto currency or cash.
Currency - it's just an instrument

Well you're and it's a more convenient way for these people to do their trades which is quite sad. As much as bitcoin can better the lives of proper living citizens ,it can also better transactions for illegal activities such as drug cartels and syndicates