Can Bitcoin help to reduce crime?

[teamsherry]

Is bitcoin a means to get income? No, then how would it help decrease crime rate, just as you've said the majority of criminal sprouted from poverty and with little options to survive and taht also means that they can't afford to buy bitcoin too and how criminals have the resources to do a long term investment I bitcoin and still have a stable life, the way i see it bitcoin can't help reduce the crime in Nigeria, well IMO is see bitcoin mainly as a hope for Nigerians with regards to our deprecated naira that Continues to lose its value over time, I know that keeping my money in bitcoin would not only save my value but also give me profits on the long run, now to me that is a better way to view bitcoin than a crime decreasing factor or a job opportunity.

[Zackz5000]

Bitcoin no fit help reduce crime for crime still dey go higher higher though I believe it would have been worst if not for crypto, if we notice well we will see that somany person has involve there self into crypto currency investment but you will still notice that the high rate of crime is much but I believe it would have been worst if not for crypto because crypto currency and other online investment has kept some many mind busy and away from thinking about committing crime, for there is a saying that goes thus that an idol man is a devils workshop. I think it is the Government that can help to reduce crime.

[sotelorene]

Although, there are so many factors facilitating the increase in the rate of crime in our society but if we critically deepdown on the root of incessant increase of crime and other criminal activities in our society today it will be so notable that poverty and unemployment especially among the youth are the major anchor to the increase in crime and criminal activities in the society. I think if there is adequate sentization of Bitcoin in our society it will help in the reduction of crime because many people that are involve in some fraudulent activities today would venture into Bitcoin and be making a reasoning resource from Bitcoin if really inconcated with the actually knowledge and information to be successful in the system.   

Well just like I always say, someone who will spoil will definitely spoil no matter anything. It is true that poverty and unemployment is or are the reason why most person start fraudulent act however, I don't think poverty or unemployment is the actual reason why most person do fraud I mean those people who engaged themselves into fraud, they are not the only people who do not have work or they are not the only people that is poor, there are people who are facing a lot of challenges than them but they choose not to be carried away by nonsense.

However, I don't think you are expecting the Government to set up where people will be going to learn about cryptocurrency cause that's not going to happen perhaps if someone really want go learn about cryptocurrency he/she should ask question and also go online to browse, watch videos and read books, we should be happy now cause most of the things we need to know about cryptocurrency is online I mean we can browse and watch. Lastly, I think Bitcoin has reduced crime to an extent but even with the existence of Bitcoin people are still going to commit crime so I will say that Bitcoin doesn't totally reduce crime but rather just to an extent and again Bitcoin is not just something you will invest today and get profit tomorrow no, it's a thing of patient and consistent and those people who go into crime are mostly inpatient people.

[HajiBagi]

Although, there are so many factors facilitating the increase in the rate of crime in our society but if we critically deepdown on the root of incessant increase of crime and other criminal activities in our society today it will be so notable that poverty and unemployment especially among the youth are the major anchor to the increase in crime and criminal activities in the society. I think if there is adequate sentization of Bitcoin in our society it will help in the reduction of crime because many people that are involve in some fraudulent activities today would venture into Bitcoin and be making a reasoning resource from Bitcoin if really inconcated with the actually knowledge and information to be successful in the system.   

Bitcoin can’t reduce crime, how is it going to reduce crime when it is an investment? Remember that bitcoin is an investment that you will have money before you can invest in it, the reason why some people get involved in crime is that they don’t have money to put food on their table and instead, some people investing in bitcoin will rather use the money to solve their problems, bitcoin can never reduce any crime because in bitcoin crime can also be committed in it, many people crime through bitcoin ways by scamming people who invest it bitcoin and with stealing people bitcoin from their wallet it’s a big crime.

No matter how is it, even in a country that accepts Bitcoin crime will not reduce, it is very difficult for some of them to invest in Bitcoin, bitcoin is not like a business where an individual will buy and sell when the customers come to buy, bitcoin is an investment and those who can invest in bitcoin are people who have money and are still capable of investing their money into bitcoin for some time.

[Mayor of ogba]

Can bitcoin reduce Internet fraud? No. Employment can reduce internet fraud to an extent but as the population of a country is increasing, there would certainly be increasing in internet fraud.

Do you know that Nigerian youth uses crypto especially Bitcoin as a means of receiving payment by scamming from their foreign clients, to me crypto increases Internet fraud in various sections. Many youths taking the chance and advantage by misusing the important of crypto to scam innocent people, that's a criminal act, so it's not stopping any crime in the society, instead, it increases crime the more

Bitcoin was not mainly created to stop fraud because fraud existed before it was developed, and there is no way fraud can be stopped on the internet. People have been losing money to scammers on the Internet, even with fiat. Without bitcoin, fraud would still be at a high rate because most people want to make it through fraud, and there's nothing you can do to stop them or change their minds. As far as the Internet is concerned, always verify before you send your bitcoin to help you know who you are sending your bitcoin to.

[Jegileman]

Although, there are so many factors facilitating the increase in the rate of crime in our society but if we critically deepdown on the root of incessant increase of crime and other criminal activities in our society today it will be so notable that poverty and unemployment especially among the youth are the major anchor to the increase in crime and criminal activities in the society. I think if there is adequate sentization of Bitcoin in our society it will help in the reduction of crime because many people that are involve in some fraudulent activities today would venture into Bitcoin and be making a reasoning resource from Bitcoin if really inconcated with the actually knowledge and information to be successful in the system.   

Bitcoin can have his own way it can help in the economy situation of the country but to reduce crime to its minimum is not what I think can be possible if there’s no convenient room for that. You can’t just teach someone how to farm and you know the person cannot provide themself with a land to farm on. This is where the government needs to play an active role in engaging youths in useful activities and give them a room to leverage on that knowledge they must have gotten to their own advantage. You can’t kill crime in a country totally, but you can reduce them to make the society a more active and productive environment for those looking at crime as an alternative route to source for income. Bitcoin has its role to play and not solely to alleviate crime, the government knows better what they can do to reduce crime. Creation of job opportunities and increase in self developmental programs can help do better.

[Ever-young]

Ever since Bitcoin was introduced in our country, it has been a huge help to us by providing job opportunities, etc.

It has help us eradicate poverty, that is we can be earning through it by working online such as this Bitcointalk, and also it has help reduce crime in our society today, because assuming Bitcoin was never introduce or we don't have the idea of Bitcoin in our society today, the high rate of crime would have been something else but with this Bitcoin now, which has been helping the people to eradicate poverty from our family.

[Samlucky O]

Although, there are so many factors facilitating the increase in the rate of crime in our society but if we critically deepdown on the root of incessant increase of crime and other criminal activities in our society today it will be so notable that poverty and unemployment especially among the youth are the major anchor to the increase in crime and criminal activities in the society. I think if there is adequate sentization of Bitcoin in our society it will help in the reduction of crime because many people that are involve in some fraudulent activities today would venture into Bitcoin and be making a reasoning resource from Bitcoin if really inconcated with the actually knowledge and information to be successful in the system.  

I don't really understand what you mean by "can bitcoin  help to reduce crime"? You are asking a question yet you are also directly answering  yourself that bitcoin helps to reduce crime. What if I tell you that bitcoin does not help to reduce crime. As far as I know Bitcoin is a digital gold which it's value is equivalent to money like fiat, meaning you must have to buy it with your money or earn it from some site as a kind of reward just like signature campaign which we do here, but that does not implies that it's a free money that will help to reduce crime. Bitcoin is an digital asset and requires people to buy and HODl for a specific period of time depending on the person in question. Or can be used for trading in a short period of time and be making profit, but that does not mean it will reduce crime. Because even people who invested in bitcoin are still criminal because bitcoin doesn't give them what they wanted at a spot. So in summary bitcoin does not reduce crime. If what you mean is that those who engage in signature campaign may likely not participate in criminal Activites, it is understandable because it has reduced unemployment rate at some point for some people.

[DaNNy001]

Ever since Bitcoin was introduced in our country, it has been a huge help to us by providing job opportunities, etc.

It has help us eradicate poverty, that is we can be earning through it by working online such as this Bitcointalk, and also it has help reduce crime in our society today, because assuming Bitcoin was never introduce or we don't have the idea of Bitcoin in our society today, the high rate of crime would have been something else but with this Bitcoin now, which has been helping the people to eradicate poverty from our family.

Oga your point is very valid there especially for we country like this, I mean it's not easy at all to even get to start to think about what might have been if only Bitcoin was not here, there are so many ways in which Bitcoin has helped this society of our especially in the aspect of eradicating poverty and financial issues. Many of the youth today that would have caused problems for people due to not having good jobs are now fully involved the crypto space earning a living through different ways that involves the use of Bitcoin or other crypto currency as a whole.

[Merit.s]

Yes, it can reduce crime from society if the leaders in the society will give free access to BTC users to impact those that don't have the ideal of BTC, I guess it will improve employment in the society and it will eliminate unemployment from the society.

Bitcoin is a currency and a currency or assest cannot reduce crime. It is the government responsibility to reduce crime in a country by providing job employment and leading the people in transparency. I don't see how bitcoin can do all these, because you must have a means of income before you can invest or trade. Trading is not what can be done as a full time job, you still need a primary job that can take care of your monthly expenses and needs. Bitcoin can only keep the value of your funds from inflation and give your profit in return after a long period.

[Igebotz]

The illicit transactions in fiat is far more than illicit transactions in bitcoin. Despite that there have been a research that bitcoin contributed to less than 1% of illicit transactions in the past, the bitcoin linked to illicit activities continue to decline year after year as scammers are using other coins, most especially USDT for the illicit activities.

Mempool congestion and BTC fees push most of them to stable coin because they can't trust their client to send at the appropriate fee and risk the coin getting stuck in the mempool, which is something the other gang of the scam may not understand, and this has put so many so-called "aza" men in trouble because how do you explain to someone that his coins are still in the mempool for days when they are told that Bitcoin transactions take less than 10-15 minutes to get? This experience alone has pushed most of them away from the Bitcoin network and towards USDT and other stable coins.

Scam and stolen funds can be group as one right? - not recently statistics but it tells more of what's happening.

[Charles-Tim]

There were two reports at the beginning of this year with similar analyses. I searched for the other one but I could not see it, but I see the one for Chainanalysis. This is the latest one for Chainanalysis:

   

                                       

https://www.chainalysis.com/blog/2024-crypto-crime-report-introduction/

0.34% of bitcoin with other cryptocurrencies included are involved in criminal activities which can be seen in the second chart. This is very low compared to how some people are thinking cryptocurrencies are used for criminal activities.

Despite that, the percentage of bitcoin used after it always has the highest adoption always among other cryptocurrencies is becoming lower year after year.

Although, this is a report, it may not be completely accurate.

[laijsica]

Bitcoin to reduce crime which leads to financial level is absurd. Crime isn't just about money, there can be a variety of reasons why it's not appropriate to bring Bitcoin in here. You can't be sure that Bitcoin can give you financial stability because investing at the wrong time can hurt you and even you can be greedy to get rich. First of all you need to know about Bitcoin and how it can work for financial progress. Initially you need to develop the habit of investing or saving in Bitcoin.

[kentrolla]

We need to understand that crime happens due to two reasons one is out of desperation wherein criminals are made as they dont have any other mean of survival than taking up the crim and others are those with no conscience and remorse or whatsoever they do it as a job.

Bitcoin cannot help in reducing the crime as there is not correlation between them. But, it can increase employment as it has given earning opportunity for traders and other freelancers.

[Antotena]

Although, there are so many factors facilitating the increase in the rate of crime in our society but if we critically deepdown on the root of incessant increase of crime and other criminal activities in our society today it will be so notable that poverty and unemployment especially among the youth are the major anchor to the increase in crime and criminal activities in the society. I think if there is adequate sentization of Bitcoin in our society it will help in the reduction of crime because many people that are involve in some fraudulent activities today would venture into Bitcoin and be making a reasoning resource from Bitcoin if really inconcated with the actually knowledge and information to be successful in the system.   

What do you mean by sensitization of Bitcoin to the society? Bitcoin adoption doesn't mean it will reduce the rate of crime if we are been honest with each other, by the way it's not everyone that will still use Bitcoin if it becomes legal in a society, and not everyone even have the power to buy it. Beside, look how expensive Bitcoin has become now, if you buy $100 of Bitcoin it will take time before you make 5x from that judging by the current price of Bitcoin.

Employment and insecurity is the responsibility of the government, it's not in the responsibility of Bitcoin to do that but if anyone has invested in it when the price was still low, they are lucky to be financially okay and buoyant enough to handle their responsibilities but how many people can come out to say they have atleast a Bitcoin in their wallet.

Bitcoin can only help individual protect their wealth against inflation depending on the price you bought it. If you buy Bitcoin at high price or at the top, you might need to hold it for long time before you can recover from the price if it fall to make back your capital and perhaps some profits.

[Mate2237]

Bitcoin will not reduce the rate of crime in the society and we have been hearing that big businessmen and politicians are using bitcoin to hide their money and using it to launder funds and that was why bitcoin mixers are ban in di forum and if you look at it that is go be another area of crime. As him dey Dave one side another side go dey leaked.

One thing we have to k ow be say bitcoin come to assist the fiat currency and some people dey say bitcoin go take over and reduce inflation. As bitcoin come till now, this year now be di highest inflation year ever. Bitcoin can't do anything again because the sole purpose of bitcoin was for exchange fo goods and services but diversification has taken place to invest.

[Obari]

We need to understand that crime happens due to two reasons one is out of desperation wherein criminals are made as they dont have any other mean of survival than taking up the crim and others are those with no conscience and remorse or whatsoever they do it as a job.

Bitcoin cannot help in reducing the crime as there is not correlation between them. But, it can increase employment as it has given earning opportunity for traders and other freelancers.

There are opportunities up for grabs but definitely not for criminals, when I say criminals I'm not only referring to those set of individuals that carries gun and harmful objects for the purpose to hurt people and rob them of their valuable properties, there's more to it than anyone could possibl imagine. Criminals also exists in the system, talking abiut crypto and bitcoin, we have the fraudulent persons that indulges in these numerous I'll act to hurt people. Crimes can never be eradicated from this world, but we should always buckled up and set ourselves ready for the unpredictable outcome of the real world.

[Fiasem20]

Even if Nigeria youths dey aware of Bitcoin and adopt am and if the employment rate increase,the scam rate go reduce a bit no be the way you think am.You no go fit talk say na everybody go good finish,e go choke you say even if many youths don adopt Bitcoin and employment rate dey high the rate of scam go still dey as e dey because many people wan make quick money and when Bitcoin investment or trading no dey give them the kind money wey dem desire dem go wan use am scam others.So wetin I dey try to talk be say Bitcoin no come to reduce crime,na the government suppose fight against crimes and corruption.

[Dzwaafu11]

I think if there is adequate sentization of Bitcoin in our society it will help in the reduction of crime because many people that are involve in some fraudulent activities today would venture into Bitcoin and be making a reasoning resource from Bitcoin if really inconcated with the actually knowledge and information to be successful in the system.   

if you person they na work him no get if not him no go thief, so for people wey you they talk say make them know aboit bitcoin, is not bad but to me, the problem be say those people wey you they see. most of them no get money to invest in bitcoin and na the only thing be that. so even if they get money invest, they go later sell which maybe at their lost, reason be say they no get any work wey they give them money wey go make them leave their in bitcoin for a long period of time. and some of them know very well about bitcoin, but because say they no go fit take the risk, na why them too no the put body base on say no be for everybody.

[SmartCharpa]

Although, there are so many factors facilitating the increase in the rate of crime in our society but if we critically deepdown on the root of incessant increase of crime and other criminal activities in our society today it will be so notable that poverty and unemployment especially among the youth are the major anchor to the increase in crime and criminal activities in the society. I think if there is adequate sentization of Bitcoin in our society it will help in the reduction of crime because many people that are involve in some fraudulent activities today would venture into Bitcoin and be making a reasoning resource from Bitcoin if really inconcated with the actually knowledge and information to be successful in the system.   

Did you think that if were not for the Bitcoin investment, some of us on this forum might have not engaged in scam activities with this hard economy for so long? Some of us cannot bear the suffering anymore. Even though our governments did not fully support Bitcoin, they believe it has reduced crime in our country. We cannot be rich in the same way in this country, those who want to do fraud will still do fraud because not everyone has the patience to invest in Bitcoin. Most of our youths nowadays are eager to make quick money and enjoy life.

However, it can be tough to even gather money in this country and begin to invest because everything is difficult. Could you believe that one of my friends told me he would rather use his money to play virtual games than invest in Bitcoin? And do you think that Bitcoin investment will change some attitudes in this country? I don't think so because who no go know, no go ever know.