Drugs, Fraud, Porn, Gambling, Murder, Sex and now Ransom

[DGulari]

Well we've seen clearly how Bitcoin can be used for Drugs (Silk Road); Fraud (Bitcoin Savings and Trust); Porn(Porn.com); Gambling(Satoshi Dice); Murder(Ulbricht); Sex (Backpage), it looks like a new use is becoming quite popular: Ransom.  Bitcoin is becoming a great mode for Ransom demands: http://www.coindesk.com/e-tailer-offers-23000-to-catch-ddos-attackers-demanding-bitcoin/.

Meanwhile, back in the conventional markets - BitPay lays off 600 due to low volume at merchants.

The Bitcoin 'use cases' story is starting to stack up.  It might become successful after all.

[jacee]

Well we've seen clearly how Bitcoin can be used for Drugs (Silk Road); Fraud (Ponzi); Porn(?); Sex (Backpage), it looks like a new use is becoming quite popular: Ransom.  Bitcoin is becoming a great mode for Ransom demands: http://www.coindesk.com/e-tailer-offers-23000-to-catch-ddos-attackers-demanding-bitcoin/.

Meanwhile, back in the conventional markets - BitPay lays off 600 due to low volume at merchants.

The Bitcoin 'use cases' story is starting to stack up.  It might become successful after all.

LOL. People does have a wide imaginations, I mean using bitcoin to purchase stuff such as drugs and porn and now ransom?  As bitcoin starts to be widely known the majority of crimes are also inclining to bitcoin. They find it useful, the advantages of using bitcoin. I don't think if I will take this as a good sign or not.

[ranochigo]

The anonymity of Bitcoin has allowed the ransom to be collected without the risk of getting it frozen. The most widely use of it in ransom is the cryptolocker malware which encrypts the file, only decrypt when the ransom is paid. I highly doubt bitpay is laying off employees is only due to the lack of demand, I have a feeling that it is due to the fact that they had a massive hack and needed to recover from it.

[erre]

You are forgetting gambling, another widespread use of bitcoins  

Bitcoins would be awesome for a lot of services, but as for now they have clear advantages only related to pseudo-anonimity or money control. They would be  also superior for the porpouse of transfer 10 millions usd from USA to iran, but the market is too little now ☺.

I hope I will be able to buy bread with btc one day, but it need a massive market and products starting being denominated in btc for that....

[ronald98]

For years fiat has been used to anonymously purchase drugs, in fraud, to pay for porn, sex and ransom. You can use Bitcoin to pay for anything you can pay for in fiat. That list from the OP is of some of the bad things you can pay for. You can use both fiat and Bitcoin to pay for other good things like a new Dell computer. Should we ban fiat because it's anonymous and can be used to pay for bad things?

[tom555]

its make bitcoin more popular,any violence happen because bitcoin 

[DGulari]

You are forgetting gambling, another widespread use of bitcoins  

Good point.  Added

[ranochigo]

For years fiat has been used to anonymously purchase drugs, in fraud, to pay for porn, sex and ransom. You can use Bitcoin to pay for anything you can pay for in fiat. That list from the OP is of some of the bad things you can pay for. You can use both fiat and Bitcoin to pay for other good things like a new Dell computer. Should we ban fiat because it's anonymous and can be used to pay for bad things?

It wasn't as easy as you think. Purchasing drugs on deep web, receiving ransom(online) would require a bank account or online account tied to an ID. With Bitcoin, it is easier without an ID and it would be harder to trace than fiat.

[Kprawn]

Name one of those where cash has not been used for the same thing.   ... Bitcoin has to be used for these things, or it would not be defined as a currency.  

What a wonderful world we live in... humans have sex, do drugs.. steal and do anything for money, and we want to blame the currency.  

Let's just accept it, and move on... there is so much good things being done with Bitcoin and it seldom gets mentioned, because it's not news worthy enough.  

[Amph]

its make bitcoin more popular,any violence happen because bitcoin 

not a good popularity, it will damage the trust of bitcdoin, and average joe will never use it, they feel like they are givin money to thief

[erre]

Name one of those where cash has not been used for the same thing.   ... Bitcoin has to be used for these things, or it would not be defined as a currency.  

What a wonderful world we live in... humans have sex, do drugs.. steal and do anything for money, and we want to blame the currency.  

Let's just accept it, and move on... there is so much good things being done with Bitcoin and it seldom gets mentioned, because it's not news worthy enough.  

You can't use cash for online purchases, bitcoins take the streets to the net!

And that's good, because it.implies more freedom.

[Laosai]

its make bitcoin more popular,any violence happen because bitcoin 

That's kinda sad cuz it affects the image of bitcoin but well, that's the truth and we can't totally stop it. I wouldn't be surprised if one day you can pay bitcoin with abortion or even you can bribe policemen with bitcoins 

[christycalhoun]

And these things have been used with cash many times in the past. Criminals would use dogecoin if they had too.

[jacee]

its make bitcoin more popular,any violence happen because bitcoin 

That's kinda sad cuz it affects the image of bitcoin but well, that's the truth and we can't totally stop it. I wouldn't be surprised if one day you can pay bitcoin with abortion or even you can bribe policemen with bitcoins 

Well  Any form of money be it in fiat or an online payment including a cryptocurrency, they can all be use in every way IMO. Bitcoin adapting to these kind of stuffs only proves that a huge variety of people are now using bitcoin.

[aakashsangwan]

for eveything their is a good and bad things ,i mean positive and negative , even fiat had positive and nagative image, and now ranson they are accepting bitcoin as ranson money is nothig new, because now a days crime is becoming like hacking the site and then asking ransom for giving back the site details to owner back for that also ransom is going on. so in that case bitcoin is becoming for their ranson money so that no one can know where it has gone and who is owning it. superb idea for bitcoin for ransom

[afriezalie]

Not only bitcoin, but also all FIAT, credit card, and even paypal can be used for those things. Many criminals use bitcoin because bitcoin is semi-anonymous, so FBI can't find them. Those things make people see bitcoin as negative thing . Malware ransom is the worst thing for me because it makes bitcoin reputation fall down.

[codishmumu]

Can one of these murderers be hired for assisted suicide....?

[christycalhoun]

Can one of these murderers be hired for assisted suicide....?

Possibly but it would still be illegal. Travelling to a place where assisted suicide is legal may be a better option.

[Mickeyb]

Well we've seen clearly how Bitcoin can be used for Drugs (Silk Road); Fraud (Bitcoin Savings and Trust); Porn(Porn.com); Gambling(Satoshi Dice); Murder(Ulbricht); Sex (Backpage), it looks like a new use is becoming quite popular: Ransom.  Bitcoin is becoming a great mode for Ransom demands: http://www.coindesk.com/e-tailer-offers-23000-to-catch-ddos-attackers-demanding-bitcoin/.

Meanwhile, back in the conventional markets - BitPay lays off 600 due to low volume at merchants.

The Bitcoin 'use cases' story is starting to stack up.  It might become successful after all.

So who said Bitcoin doesn't have any use cases?

Just kidding, of course! OP I don't know are you just trying to spread FUD to bring the price down or you got literally burned by investing over a $1,000 so you are mad as hell at the moment, but posts like this and threads like this are really becoming an old news.

I think you would be better off to start a thread how you can do all of the above bad things with US dollar for example. If you do this, you might get couple of applauses after all!

[dothebeats]

Can one of these murderers be hired for assisted suicide....?

Probably. You can see a lot of these hired murderers in the dark web. Plus fact is, they accept bitcoins.

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Bitcoin is closely related to illegal activities due to its pseudoanonymous nature. No wonder it is used heavily in these kind of transactions. But I wonder why is fiat not that 'bad' in the eyes of the general public when it was first  and heavily used in illegal transactions than bitcoin?