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

[unamis76]

While money doesn't talk, Bitcoin does, but it has no names. Both are incentives to criminal activities and will pretty much always be.

[jacee]

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

You can creep to the deep web and see for yourself the various crimes that people are willing to do and as bitcoin as payment.

[gentlemand]

You can creep to the deep web and see for yourself the various crimes that people are willing to do and as bitcoin as payment.

And they're all 9-11 years old who suddenly go offline in the middle of setting up a 'hit' when it's time for bed.

[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?

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.

That's true for activities like that carried out by loners or small groups. However for big time criminal and terrorist organizations getting bank accounts was (and might still be) easier than using Bitcoin. There was a bank called the Bank of Credit and Commerce International (BCCI) that was the most corrupt bank that ever existed. It's closed now, but laundered money for big time criminal and terrorist organizations, and helped Osama bin Laden's network launder money. Bitcoin's not got a big enough market to launder the amount of dirty money that bank laundered.

How many banks of today are up to the same tricks the BCCI got up to?

http://www.washingtonmonthly.com/features/2004/0409.sirota.html

Panamanian strongman Manuel Noriega was laundering drug profits through the bank on behalf of the Medellin cartel.

The CIA had sent reports to the Treasury, Commerce, and State Departments bluntly describing the bank's role in drug-money laundering and other illegal activities.

BCCI catered to many of the most notorious tyrants and thugs of the late 20th century, including Iraqi dictator Saddam Hussein, the heads of the Medellin cocaine cartel, and Abu Nidal, the notorious Palestinian terrorist. According to the CIA, it also did business with those who went on to lead al Qaeda.

And BCCI went beyond merely offering financial assistance to dictators and terrorists: According to Time, the operation itself was an elaborate fraud, replete with a "global intelligence operation and a Mafia-like enforcement squad."

A decade after Kerry helped shut the bank down, the CIA discovered Osama bin Laden was among those with accounts at the bank. A French intelligence report obtained by The Washington Post in 2002 identified dozens of companies and individuals who were involved with BCCI and were found to be dealing with bin Laden after the bank collapsed, and that the financial network operated by bin Laden today "is similar to the network put in place in the 1980s by BCCI." As one senior U.S. investigator said in 2002, "BCCI was the mother and father of terrorist financing operations."

[btcxyzzz]

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

it's more like ... 6?

[AtheistAKASaneBrain]

I think ransom ware has only begun. IT will be a bigger and bigger "industry" as cryptocurrencies become more and more mainstream and more people use it. Of course, one would assume that at the same time antiviruses and in general people's knowledge would get better to avoid getting this kind of scam going on. You might as well ban the internet because the underlying protocol that allows for the "Drugs, Fraud, Porn, Gambling, Murder, Sex and now Ransom" so this is a no-argument against Bitcoin.

[Kprawn]

The media is mostly used to paint a bad portrait of Bitcoin. You see it everywhere... I even saw it in a series called, Eye Candy Season 1 Episode 8 .... The people pay with Bitcoin on a underground site

called "Babylon" where they kill, assualt and rape people and other people watch. Bitcoin has built up a huge reputation with scandals like Silkroad and the shills jump on that to try and push the knife even

deeper. We just need to change their mind and also break the myth that Bitcoin is anonymous and always used for crime. 

[avatar_kiyoshi]

Anonymity is a facilitate people to use bitcoin for "bad things", sadly but the fact is bitcoin just a tools, like other currency(fiat). so people will use it for good thing or bad thing even abuse it for a personal importance.

[cbeast]

Cash is easier to do all those with because infinitely more fungible.

[rivoke]

Since bitcoin has hidden ability , it can be use with anonymously.
So this is somekind of disadvantage can be using for crime things

Cash is easier to do all those with because infinitely more fungible.

cash can be detect since no one want to get detected if they want do something illegal

[Raimonn]

All this problems existed before bitcoin, drugs, fraud, porn, gambling, murder, sex, ransom .... I think bitcoin is better for online systems (ransom, gambling, porn, ...) but to buy drugs, sex, its easier with cash money.

[Amph]

Cash is easier to do all those with because infinitely more fungible.

this is only because bitcoin has not reached global usage, when this will be true its fungibility will rise exponentially

also cash is limited from one country to another, if i have fake euro and i want to use them in usa i must exchange and pay a fee or whatever, not to mention other random hassles if the amount is big

[codishmumu]

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.

The person could just sign a document or be willing to be filmed to prove they asked for it. If you ask for it, the murderer shouldn't be sent to prison.

That's just what I think.

[NorrisK]

Cash is easier to do all those with because infinitely more fungible.

And it can be easily traced back to you if you buy an illegal service.

Also it will be difficult to buy said service in the USA if you live in Europe or asia.

Ofcourse people will ask bitcoin for this type of stuff now, it is the safest and most convenient way for them, but this was also the case when cash had this status.

[SwagGirl]

While money doesn't talk, Bitcoin does, but it has no names. Both are incentives to criminal activities and will pretty much always be.

People keep pointing out a crypto - crime connection  which is great for 2 reasons

1. If you take it a 1/2 step further you realize FIAT is worse for those types of things.

2. Free promotion.

Same with the "its not backed by anything? argument.

In the end FIAT looks worse and worse.

[enhu]

Nice! lol Its still a publicity though.
Any kind of money can be use as ransome, it just that these guys are knowledgeable enough to use bitcoin. I myself would prefer BTC as its irreversible no matter what. just don't use bitlaunder to encash your ransome money

[sodiao]

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?

where  fiat?
I want know....please...

[cbeast]

Cash is easier to do all those with because infinitely more fungible.

And it can be easily traced back to you if you buy an illegal service.

Also it will be difficult to buy said service in the USA if you live in Europe or asia.

Ofcourse people will ask bitcoin for this type of stuff now, it is the safest and most convenient way for them, but this was also the case when cash had this status.

Really? Tell that to the billionaire drug dealers that have shipping containers full of cash. lol

[jordanovmkd]

This is bad world and using and manipulating with bitcoing is only good avilible option for criminals to do the right things not to get caught. They can use and exploited bit coin for easy transfered, fast payed untracked unmarked money for making lot more criminal actions that murder fraud or ransom...i say this because i am okey with gambling , porn use, sex even drugs. This is not going to be normal if someone do not do something for blocking and somehow dealing with criminals on this topic.

[Eastwind]

The mentioned criminal activities involves dollar more than Bitcoin.