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Author Topic: Why criminals still use Bitcoin?  (Read 930 times)
ololajulo
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November 02, 2020, 09:05:29 PM
 #101

Bitcoin also remains the most preferred coin among criminals.


And since all transactions are very easy to track, there are good opportunities for law enforcement to catch criminals with Chainalysis.

this 2 statements seem to have contrast to avoid the use of bitcoin by criminals. Bitcoin does not have the anonymity that protect criminal use like we used to believe so other coin had been adopted and I feel the anonymity is a reason why it could not be traced to criminals and why they cant be rated as the top coin used by criminals. Monero for example is put under bounty for anyone that can gain access to the coin's anonymity

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November 02, 2020, 10:20:06 PM
 #102

Because they like Bitcoin for being easy-to-use from anywhere. They make their transactions faster and anonymously. But it is true that they will need to convert their crypto to fiat for a thing that can't be done with a crypto anyway. Besides, I assume that fiat is more commonly used by criminals compared to cryptocurrencies.
Last sentence contradicts the first one. Both fiat and cryptocurrencies are being used in illegal activities but more likely, fiat are are more link with the illegal activities due to its support across different governments. Also, what most of the crimininals are eyeing for is money and not investments, unless they are in this industry which makes them aware of things in order to generate bigger profit. Eitherway, fiat and cryptos will be used by criminals for their intentions, as long as there are violators of the law, and because it is simply a currency, which purpose is to be in the middle of every transaction.

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