Debate: Do you think criminals do more good than harm to bitcoin?

[bitbaby]

I don't think they're doing any good and I also don't think the price rise was because of this. There must have been other factors such as European union accepting BTC as a currency etc. Criminals harm bitcoin's reputation every-time they harass/blackmail/steal from someone. But I hope the only good affect of this is people start to care more about their privacy online, so things like this don't happen in future.

[tailsjoin]

What is a criminal? If those deciding what a criminal is, are by their own definitions criminals. Then this whole discussion is a bit of a circle jerk.

[franky1]

they say bitcoin used for sex is bad,, i say


they say bitcoin used for drugs is bad,, i say



they say bitcoin theft is bad,, i say

[cjmoles]

Exactly. Criminals do anything with fiat as well. No different with bitcoin. So, specifically seeing bitcoin along with criminals is completely meaningless. We must accept that bitcoin is somewhat traceable than fiat. So, there is no special case for criminals if it's bitcoin.

Wrong...Try toting a million dollars thru an airport's security, onto the plane, and then wait for it to be inspected and weighed by your clientele while you're under the security of their armed guard, who could easily rob and shoot you in any instant, and then tell me that there's no difference between bitcoin and fiat when it comes to crime.

[Panus]

I recommend it's as being a advantage, it is good personally as extended because the cost increase

[cjmoles]

Criminals are doing good and bad for bitcoin. That price rise was a good thing for bitcoin, but won't people ask about the random 5.5k bitcoin. When they realise that the money came in because of ransom, do you really think they will still want to use bitcoin. I would use it but I think it would against people morals.

Black market products certainly account for much of the volume of bitcoin....so that is good.  However, many people will not adopt bitcoin because it is attractive to black market traders, so that is bad thing for the regular Joe.  

[stingers]

Lately I have seen another news of some kidnappers demanding ransom in bitcoin. Then the family seems to be really bought $1.7M worth of BTC (about 5.5k BTC as my estimate). This would be one of the reason for the recent price increase ($1.7M is a lot of money!). However medias keep spreading false information on bitcoin, like stating 'bitcoin is using widely in criminals' etc.

So how do you think? Does the advantages outweigh the disadvantages?

First of all i hope that every service provider relating to bitcoin blacklists the kidnapper's address and don't let them use their bitcoin.
Second, i think that yes, if you see for the price and popularity of bitcoin, criminal activities are doing good for the price of the coin. We get media coverage because of these things. Bitcoin came into limelight when it was used in the blackmarket so according to me, yes, we need these things for the betterment of bitcoin and after all criminal activities are a part of this world.

[mtnsaa]

For the general media and common people it's definitely bad advertising. However I'm sure the black market moves a lot of BTC per day. If you throw in grey activities like gambling, then it's even bigger. I for one, don't really know if Bitcoin has a true identity, to me it is still making the first steps on what could become. But not sure if it will ever shake off that reputation of being something illegal, bad or unsafe because of cyber heists and other scandals.

[BitcoinCounty]

You cannot use bitcoin for drugs. You can use US dollar bill to wrap the drugs and then take them. You cannot do that with bitcoin.

[Pierre 2]

I believe they do harm bitcoin than promoting. Bitcoin needs better public image that "illegal use money"
But I still think they do add lot to bitcoin market. Illegal things will always happen, it does not affected by what curreny they use or jewellery.

[Amph]

I recommend it's as being a advantage, it is good personally as extended because the cost increase

no the cost decrease if a criminal get tons of bitcoin for free, he will dump without thinking no matter the price, maybe he will hold a portion, but there is no way that this will contribute to a better value