Bitcoin Forum

Do people think that btc is more used in world of criminal, than the dollar is used?

Unfortunately Bitcoin can be used for illegal activities. As It is very difficult to track transactions, it is a good choice for such activities. For example hackers usually ask for Bitcoin when they can access to our files.

Rozita, did you mean to post in another thread?

Here's a fact. BTC was mainly used as a payment option to the infamous "SILK ROAD". So yeah, criminals would prefer using BTC than dollars because of its anonymity.

Of course not, because at this price point there are simply more dollars than there are bitcoins. The value of each coin needs to increase exponentially for bitcoin to overtake the dollar in illegal transactions.

Here’s the way to ask that question. As a percentage of the total amount of available dollars and available bitcoins are bitcoins used more than dollars for illegal activity? As an example, do people use 2% of the available dollars for illegal activity and 20% of the available bitcoins for illegal activity? Which one would be a higher percentage of criminal use?

I would answer that question by saying that bitcoin was invented to allow people to send money to each other without the need for a trusted third party. Illegal activity wasn’t why it was created. However, it also bypasses normal banking, oversight and government regulation as an ancillary benefit (or drawback, depending on your perspective). Because of this bitcoin is more useful for illegal activities than the dollar is and is probably used more to that end. Silk Road at one point was almost the entire bitcoin economy. So that was provably true in the beginning.

Anonymity is not the only feature of bitcoin which makes criminals prefer to use bitcoins. Another important reason is that bitcoin is easily transferable to people residing on other countries and there is no hassle of payments.



There is no doubt that all the criminals and dark wold activities are being done in bitcoins. This seems a bit awkward for the people who love bitcoins but it is a fact which cannot be denied. If i am not wrong, bitcoin is more used in criminals activities than the good activities.

I doubt that, but one thing is for sure. It much more simple for a criminal to use Bitcoin than USD. It's gonna take some time for them to adapt to the new Technology. :) But, on the other hand, Banks started to freeze account that are related with crypto currencies. They do this in order to combat the money laundering

Bitcoin is now used more in the crime world. Bitcoin is used to provide a service called dark web. Bitcoin is being used more because of the cost of Bitcoin and easy transactions

Crime is not about the two materials, if there is a chance for crime all things will be done by irresponsible person, so back again with ourselves how we can keep both materials, so no crime cheat you ..

Nope. bitcoin isn't as anonymous as people thought/think it is, with chain analysis tools transactions can be tracked, so criminals use truly anonymous coins like monero. here's a good read(https://bitcoinist.com/study-identifies-less-than-1-of-bitcoin-transactions-to-exchanges-are-illicit/).

Slowly big criminal groups will start using crypto, it's much more easier to hide the money this way than in the traditional systems. Plus, you can even use a dark network.

Yes, today Bitcoin, Monero and Ether are more used in the criminal world, and the dollar has gone to the background.

Yes, even though it is pretty obvious that the dollar is used a lot more by criminals, there are people that still think that Bitcoin is only used to make illicit transactions. Bitcoin has been tied with criminals since Silk Road started to use BTC as payment, and even after it was taken down by authorities, the stigma still remains even today. Also, Bitcoin has been used for money laundering (and it still is being used for this) and other stuff, so there's always going to be a that 'criminal' label on Bitcoin.

Though lately, there have been reports that said the use of Bitcoin for illicit transactions has been declining over the past year since there are other cryptocurrencies that offer way better anonimity. And regulations could also put a stop to these transactions once and for all.

Fortunately, the negative view on Bitcoin has been decreasing, there's no doubt about that, more people are getting into Bitcoin every day, we even saw a bit of a 'boom' back in December when there was a lot of demand and hype around Bitcoin, meaning that despite all the negative labels (fraud, illicit, criminals, etc), the perception of Bitcoin has been changing for the better.

Dollars. Do you think mexican cartels use bitcoin instead of cash?

People can think about anything, and from the end of the centuries it was so that what people do not know or do not understand was most feared. So with bitcoin, most people do not understand what it is and thinks that bitcoin is a means to pay for illegal actions, but my opinion is that dollars are more often used for crime than bitcoin.

there is currently no legal body that has been surveyed from both. I think, evil always happens wherever it is. there is no benchmark in the size of the most potential culpability. in essence, the human resources themselves are the figures behind all the plans of evil. according to what I think.

So, I'm trying to figure out if you all are serious or just out of your minds?  This is a FACT:  Cash is by FAR and AWAY used more for criminal activity than BTC has ever thought about being. I can stake every thing I have in my possession on this fact, without a hint of doubt.  For a couple reasons, Big events such as ransomware demands on a global level and websites like SilkRoad being exposed draw attention to events involving bitcoin in place of cash to the public eye but all the Bitcoin transactions in history would not come close to the number of criminal transactions involving cash on any given day.  Stop for a moment and ponder this thought: How many  prostitutes on the street corner accept bitcoin?  OR How many dope dealers sling dime bags of (insert your favorite drug here) for bitcoin? Every year drug deals in the US alone total  around $700 Billion dollars.  That's an epic $hitload of cash transactions I assure you.  And I'm not even going to scratch the surface of crimes including cash, like gambling, arms deals, blackmail, extortion, shoplifting (returning stolen goods to a store for cash), burglary and home invasions including robbery, stick-ups & mugging's.  Come on!  Cash is king for criminals since it's inception.  This may change over time but for right now it's so far ahead it's not even funny.  

Looking at this in general, dollars are used more often than bitcoin because it exists more time, so it's misused for longer time by criminals.
On the other hand, bitcoin is atractive to criminals because of relative anonimity but that is prety much the main reason, bitcoin is not so widely used for criminal activities like it's the public opinion.
But I don't think that someone has made some exact research about this subject.

I think it depends on the person, how to use it, if everyone thinks BTC is widely used for crime, I think that is not true because only fools say it like that. or maybe they do not like the development of the increasingly popular BTC community around the world, so they spread a lot of bad issues to BTC.