Is bitcoin being used for illegal activities

[Xenophoto]

Bitcoin actually aiming for legal activities and very good, but some people take advantage of the confidentiality of information that is used for illegal activities. It happens, but I believe and still believe that bitcoin still leave many positive values are very profitable.

There's no written laws about using bitcoin, there's no rules and regulations that we've agreed with. There's no terms & agreements when we created our wallet. Bitcoin is just a tool that we use to exchange and earn money to each other.
Bitcoin is just a crypto-currency. It is one of the million data on the Internet. So it does not aim for legal activities. In fact it doesn't aim anything at all.

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[Yerm]

Every good thing can also be used for bad things and so can Bitcoin. Like the fiat money, Bitcoin is also used for money laundering, buying drugs and weapons, child pornography. I think that you all have heard for Silk Road and similar markets where Bitcoin is used for illegal stuff.

[2double0]

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

[lol3c]

if a dollar or any currency is used for some illegal activities so what do think bitcoin could be , it has anonymity so it could be used for a certain activity .

Thanks to that anonymity it makes the best way to hide every single transactions of illegal trades. It is the best choice for them for it will be harder for the authorities to trace them and they will have time to escape.

Yeah that's right paying for illegal activities like drugs dealing, deep web stuffs,etc. with bitcoin is one of the best way to hide traces. But I think every single currency has this problem, people use them for illicit works and we can't stop it so in my opinion this won't damage the image of bitcoin much.

[South Park]

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

[cjmoles]

All good currencies are used for things that may not be legal in all jurisdictions.  Bitcoin is no different in those regards.  And, bitcoin is not as anonymous as may be assumed as far as transaction activity is concerned; in fact, every bitcoin transaction is recorded on an immutable ledger and distributed to anybody who wants it.  Bitcoin transactions cannot be as opaque as cash transactions which remain the preferred currency for black markets.

things what make a lot of people make bitcoin as their favorite currency to make an illegal transaction are due its anonimity in term you will like invisible when you received or send money you will not have to see a name , address etc that any other currency required. this is the only thing that mostly misused.

But, cash leaves no trail at all.  Bitcoin transactions are recorded in a ledger, are not righteously fungible, and can be traced using advanced blockchain analytics....Plus, converting bitcoin back to a more preferred currency opens the door to post transaction identification methods.  Bitcoin is not as suited for illegal transactions as many may assume.

[jeffthebaker]

All good currencies are used for things that may not be legal in all jurisdictions.  Bitcoin is no different in those regards.  And, bitcoin is not as anonymous as may be assumed as far as transaction activity is concerned; in fact, every bitcoin transaction is recorded on an immutable ledger and distributed to anybody who wants it.  Bitcoin transactions cannot be as opaque as cash transactions which remain the preferred currency for black markets.

things what make a lot of people make bitcoin as their favorite currency to make an illegal transaction are due its anonimity in term you will like invisible when you received or send money you will not have to see a name , address etc that any other currency required. this is the only thing that mostly misused.

But, cash leaves no trail at all.  Bitcoin transactions are recorded in a ledger, are not righteously fungible, and can be traced using advanced blockchain analytics....Plus, converting bitcoin back to a more preferred currency opens the door to post transaction identification methods.  Bitcoin is not as suited for illegal transactions as many may assume.

You can hide your identity through mixing services and using new addresses, however. If you want anonymity with Bitcoin it's certainly possible, just not an automatic guarantee.

[cjmoles]

All good currencies are used for things that may not be legal in all jurisdictions.  Bitcoin is no different in those regards.  And, bitcoin is not as anonymous as may be assumed as far as transaction activity is concerned; in fact, every bitcoin transaction is recorded on an immutable ledger and distributed to anybody who wants it.  Bitcoin transactions cannot be as opaque as cash transactions which remain the preferred currency for black markets.

things what make a lot of people make bitcoin as their favorite currency to make an illegal transaction are due its anonimity in term you will like invisible when you received or send money you will not have to see a name , address etc that any other currency required. this is the only thing that mostly misused.

But, cash leaves no trail at all.  Bitcoin transactions are recorded in a ledger, are not righteously fungible, and can be traced using advanced blockchain analytics....Plus, converting bitcoin back to a more preferred currency opens the door to post transaction identification methods.  Bitcoin is not as suited for illegal transactions as many may assume.

You can hide your identity through mixing services and using new addresses, however. If you want anonymity with Bitcoin it's certainly possible, just not an automatic guarantee.

True, there are measures that can be taken to swap dirty coin for washed coin which reduces some of the funbility concerns.  But, there's not much that can be done to insure the original transaction's opaque, especially in light of peripheral data mining techniques which we know are being covertly applied to our internet activities.  And, bitcoin conversion back to fiat remains a problem when considering peripheral data collection in conjunction with AML/KYC regulations with pre-washed coin....right?

Edit: Not that I've put much thought into it....this is just coming off the top of my head.

[rizkyhiw]

All good currencies are used for things that may not be legal in all jurisdictions.  Bitcoin is no different in those regards.  And, bitcoin is not as anonymous as may be assumed as far as transaction activity is concerned; in fact, every bitcoin transaction is recorded on an immutable ledger and distributed to anybody who wants it.  Bitcoin transactions cannot be as opaque as cash transactions which remain the preferred currency for black markets.

things what make a lot of people make bitcoin as their favorite currency to make an illegal transaction are due its anonimity in term you will like invisible when you received or send money you will not have to see a name , address etc that any other currency required. this is the only thing that mostly misused.

But, cash leaves no trail at all.  Bitcoin transactions are recorded in a ledger, are not righteously fungible, and can be traced using advanced blockchain analytics....Plus, converting bitcoin back to a more preferred currency opens the door to post transaction identification methods.  Bitcoin is not as suited for illegal transactions as many may assume.

You can hide your identity through mixing services and using new addresses, however. If you want anonymity with Bitcoin it's certainly possible, just not an automatic guarantee.

everything are depends on how we treat and use something
even you can make a good things to something bad if you misused it
so do in bitcoin , basically bitcoin are a good thing but people out there abuse it
use it for something illegal , which good people never think on it.

[btvGainer]

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

This is true.Hackers are usually works in groups and use various techniques to conceal their identity.They are also aware that bitcoin is not purely anonymous.
Take for example Chinese hackers,they are supported by their government and they usually steal data from US government websites.They are sure that even if US agencies trace them,they can not be caught but there also demand Bitcoin for unlocking the hacked websites

[Mark02]

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

Yeah you are right. They choose bitcoin because once it is sent to you. It can never be reversed. Plus, the fact that it is a crypto-currency. They can easily hack that since it is online based. Even though the developers put some safety measures to prevent those but the hackers are very good that it can penetrate the security and the restrictions they put. The anonymity is just another factor why hackers choose bitcoin and not credit or debit cards because there is a chance they can be caught when withdrawing in banks or ATM's when they hacked Cards.

[goldcoinminer]

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

Yeah you are right. They choose bitcoin because once it is sent to you. It can never be reversed. Plus, the fact that it is a crypto-currency. They can easily hack that since it is online based. Even though the developers put some safety measures to prevent those but the hackers are very good that it can penetrate the security and the restrictions they put. The anonymity is just another factor why hackers choose bitcoin and not credit or debit cards because there is a chance they can be caught when withdrawing in banks or ATM's when they hacked Cards.

The authorities cannot freeze your account until in the bank when you are suspected to be a money launderer you account will be frozen. In bitcoin there's freedom for everyone and all people can use their bitcoin on the purpose they want to may it illegal or not.

[boyptc]

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

Yeah you are right. They choose bitcoin because once it is sent to you. It can never be reversed. Plus, the fact that it is a crypto-currency. They can easily hack that since it is online based. Even though the developers put some safety measures to prevent those but the hackers are very good that it can penetrate the security and the restrictions they put. The anonymity is just another factor why hackers choose bitcoin and not credit or debit cards because there is a chance they can be caught when withdrawing in banks or ATM's when they hacked Cards.

The authorities cannot freeze your account until in the bank when you are suspected to be a money launderer you account will be frozen. In bitcoin there's freedom for everyone and all people can use their bitcoin on the purpose they want to may it illegal or not.

Exactly, that is why many people in the deep web are using bitcoin for each of their illegal transactions because they are secured with bitcoin. They don't even need to provide some information just to send and receive bitcoins from their dealer. This is not new, it all started with fiat money and even with credit / debit and even paypal transactions.

[mirakal]

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

Yeah you are right. They choose bitcoin because once it is sent to you. It can never be reversed. Plus, the fact that it is a crypto-currency. They can easily hack that since it is online based. Even though the developers put some safety measures to prevent those but the hackers are very good that it can penetrate the security and the restrictions they put. The anonymity is just another factor why hackers choose bitcoin and not credit or debit cards because there is a chance they can be caught when withdrawing in banks or ATM's when they hacked Cards.

The authorities cannot freeze your account until in the bank when you are suspected to be a money launderer you account will be frozen. In bitcoin there's freedom for everyone and all people can use their bitcoin on the purpose they want to may it illegal or not.

Exactly, that is why many people in the deep web are using bitcoin for each of their illegal transactions because they are secured with bitcoin. They don't even need to provide some information just to send and receive bitcoins from their dealer. This is not new, it all started with fiat money and even with credit / debit and even paypal transactions.

Thought I know how to access deep web but I do not try using my bitcoin their, since gambling is illegal in our country.. I just use it for gambling purposes, and I am a little proud that I have use my bitcoin for illegal activities which is gambling..

[sonnyacg]

I think all of that back to the user, in general, every person has two properties in his life. namely the bright side and a dark side. so that the same as using bitcoin. if used illegal means the person has a dark side of her life. we who believe in the existence of God, it would be wise to use this life for the good of all. I prefer to do good in this life.

[Ryananda]

I think all of that back to the user, in general, every person has two properties in his life. namely the bright side and a dark side. so that the same as using bitcoin. if used illegal means the person has a dark side of her life. we who believe in the existence of God, it would be wise to use this life for the good of all. I prefer to do good in this life.

True, the use of bitcoin is legal or illegal depending on each user. Because if bitcoin used wisely would be very advantageous, but on the contrary if used unwisely it would be detrimental.

[jossiel]

I think all of that back to the user, in general, every person has two properties in his life. namely the bright side and a dark side. so that the same as using bitcoin. if used illegal means the person has a dark side of her life. we who believe in the existence of God, it would be wise to use this life for the good of all. I prefer to do good in this life.

True, the use of bitcoin is legal or illegal depending on each user. Because if bitcoin used wisely would be very advantageous, but on the contrary if used unwisely it would be detrimental.

That is applicable also in other alt coins and as long as their is value that can be converted to money. Syndicates will keep on using it for illegal activities.

But since we are not those people who are using bitcoin in illegal activities, let's encourage people to use it in a good manner.

And let's don't get involved into problems.

[Senor.Bla]

I think all of that back to the user, in general, every person has two properties in his life. namely the bright side and a dark side. so that the same as using bitcoin. if used illegal means the person has a dark side of her life. we who believe in the existence of God, it would be wise to use this life for the good of all. I prefer to do good in this life.

True, the use of bitcoin is legal or illegal depending on each user. Because if bitcoin used wisely would be very advantageous, but on the contrary if used unwisely it would be detrimental.

is bitcoin being used for illegal activities? yes. is this good or is this bad? this is good! why? because bitcoin does not care who is paying whom or for what reason. this is for money more important then many realize. if there was a possibility that someone could decide who can use bitcoin and who not, then this power would be abused.
and let us face it. bad people will do bad thing and they will use money to do so. if bitcoin is considered a good form of money, then they will use bitcoin.
it is not the job of bitcoin to do something against those criminals. it is the job of the law, cops, jurisdiction. 

[TheGodFather]

I see yes bitcoin is uses in illegal activities too where people are buying some illegal gun's and illegal medecines from dark net nor dark web thre are collecting too much illegal items to resell it in there country. Some of the them are good too but there are using it so that they can't trace the transaction money if ever.

[Positid]

I think all of that back to the user, in general, every person has two properties in his life. namely the bright side and a dark side. so that the same as using bitcoin. if used illegal means the person has a dark side of her life. we who believe in the existence of God, it would be wise to use this life for the good of all. I prefer to do good in this life.

True, the use of bitcoin is legal or illegal depending on each user. Because if bitcoin used wisely would be very advantageous, but on the contrary if used unwisely it would be detrimental.

is bitcoin being used for illegal activities? yes. is this good or is this bad? this is good! why? because bitcoin does not care who is paying whom or for what reason. this is for money more important then many realize. if there was a possibility that someone could decide who can use bitcoin and who not, then this power would be abused.
and let us face it. bad people will do bad thing and they will use money to do so. if bitcoin is considered a good form of money, then they will use bitcoin.
it is not the job of bitcoin to do something against those criminals. it is the job of the law, cops, jurisdiction. 

Good for the overall market as what we are after is the increase of circulation and we know how big is the volume needed in the transaction of illegal activities, they might also be the reason why bitcoin is still alive now and progressive..