Bitcoin Forum

Since gambling and illegal stuff seem to be the only two "industries" that flourish in today's Bitcoin environment I was wondering whether you guys would consider illegal business as an investment option for you.

Please, note that I am NOT giving you an offer. I'm just curious.

I'm not sayin I voted yes, I'm just sayin I didn't vote no.

But obviously (to me) it depends on what it is.  I wouldn't invest in a hit-man business or anything violent.

To be more specific, I meant drugs. I just didn't write it in the OP, because I wanted to see the general view on crime.

Because im in legit business no, however if the returns are high and the clients are your friends and there is little risk... I say why not?

Freedom is freedom. The law is not meant to be obeyed, they are made to make someone money - the govt.

Just my 2c. However, in all seriousness - Dont break the law.

For me, it would come down to personal values. I don't believe that everything illegal is 'immoral' so I'd invest in a good number of 'illegal' businesses that didn't violate my personal morals. On the other hand, if someone were starting a 'hitman for hire' service, I'd probably pass since it violates my personal morals. It's pretty black and white for me.

I think Bitcoin is good for the legal grey area's business to raise money. Some of the business is profitable and not harming other people, but the law just forbidden it.

Personally- if I have plausible deniability and legitimately have no idea where the money is coming from  and have no contact with the "business" or "clients" then I'd entertain it.

Legal businesses can never provide as high a profit margin as the black market, even if it's just as simple as evading taxation. So if you demand huge returns, it's the only way to go.

Poll conclusion: we should all be put in prison.

(we'll leave Atlas outside tho)

I've heard that the average American breaks three laws a day.

That, sadly, might say more about America than Americans.

I'd answer NO, particularly by reference to the above.  If I need deniability to escape liability and can't contact the stakeholders, then I have no leverage that would allow me to receive any or all of my investment back, let alone any potential gains.  And I wouldn't want the risk of being prosecuted if the illegal business got shut down.

No. There's a high risk of getting caught and losing your drugs and/or money. Also, the guy you invested with can get killed or busted and then you have to hire some bad people to get your money back. Also, the business can come to your doorstep any time. Drugs can be a good business if you want to be in that business actively but they're a *horrible* passive investment.

are we all not investing in tax evasion using bitcoin?

I think technically it would only be tax evasion if you made a profit and turned those BTC into fiat.

I would buy shares in silk road for sure  :)

illegal != wrong

So yes I could invest in an "illegal" business.

I agree. I wouldn't invest in a hitman business, trafficking, terrorism, money laundering, etc., but I think marijuana should be legal everywhere and I think it's okay to invest in something like that.
The problem about investing in an illegal business is, that the owner won't reveal his/her identity so it might be a scam (but there are probably some people on SR with a lot of ratings,....).

Agree,

the most illegal businesses are wrong, though.

I would never invest in Drugs, Human Traffic and stuff like that.

On the other hand there is a huge amount of legal businesses I would never invest, too.

Weapon Manufactures for example.

You have to count in you own moral standards as well. But as many people sadly don't have them it is necessary to make businesses illegal/put them under heavy controls that have the possibility to harm people for profit.

it depends
if it is illegal but does not hurt my moral feelings i'm fine investing in it.

but i dislike: drugs, childporn, weapons, anything which hurts people (this list is not complete)
^^ so there is not much left. maybe gambling (as its overregulated in germany)

Geez are these 3 laws?.... :D Rolling the joint, Smoking the joint, Passing the joint.

Especially passing the joint.

You are classified a drug dealer if you pass a doobie to your buddy.

In Canada it is not illegal to smoke weed... It is only illegal to possess and sell the great weed :)

So wait... If I find a way to smoke the weed without possessing it (e.g. I 'lend' it from somewhere) - I'm cool?

Well.. Your fine either way, anything 1 ounce or less if you get caught with it.. you wont even do any jail time or even be arrested... Most cops just take it from kids without laying charges...

In my area, you only hear of large marijuana busts... Never small under 1 ounce.. It's a rather low priority..... They seem to be leaving the small time smokers/sellers alone... but are focusing more on harder drugs.... Methamphetamine and Oxycodon are a very big problem in my area........

Short, yes I would if profit would be enough.

So far, thank you for your votes and comments.

I'm assuming this means breaking a serious criminal law that could lead to jail time, not just another paperwork technicality to increase costs for small businesses.  If so, probably not.  Even if I had no moral objection to the activity, operating outside of the law is a huge liability.  I would have no legal recourse if they cheated me, and they would be experienced at concealing their activities.  Criminal businesses also seem to attract violence occasionally, and I wouldn't want that spreading to me or mine.

I would definitely invest in a company that operates by jaywalking.