Is bitcoin being used for illegal activities

[coynedterm]

i first known about bitcoin was from a friend who said that it was used on the black market to buy drugs and other illegal stuff

Actually everything has a bad impact . But Bitcoin is safe and trusted and nothing is scam in Bitcoin .
But some people making its use in black world , I mean they are using it to make secret deals whole about the world .

[1Referee]

i first known about bitcoin was from a friend who said that it was used on the black market to buy drugs and other illegal stuff

Not sure if your friend is an experienced Bitcoiner or not (probably not), but if I explain what Bitcoin is and what it can do, I point them on the decentralized aspect of it directly, and all the other advantages. I don't name up black markets as there is no need to. Why? Do I need to name up what criminals are using fiat for when talking about a certain payment service that people haven't heard about before? Doesn't make sense, right? That's why I don't understand why people do so with Bitcoin. Never blame the tool for being used in a wrong manner by people.

[blackmachinegun]

My goverment forbid bitcoin usage because it can be use for money laundry  ( advantage for terorism activity )
So it has small chance for my goverment for bitcoin usage as the result bitcoin popularity can't grow like EU zone

I think only a few politicians in a country know about bitcoin, I think even though they knew about bitcoin, they certainly will not take the risk to launder millions of dollars in bitcoin because it is very risky

[Dudeperfect]

My goverment forbid bitcoin usage because it can be use for money laundry  ( advantage for terorism activity )
So it has small chance for my goverment for bitcoin usage as the result bitcoin popularity can't grow like EU zone

I think only a few politicians in a country know about bitcoin, I think even though they knew about bitcoin, they certainly will not take the risk to launder millions of dollars in bitcoin because it is very risky

This is something that is same in little bit low or high levels but no government would like to allow or promote any activity which might cause the loss of their control from the financial infrastructure of the country. Bitcoin is very powerful technology and thus it has the potential to sustain on its own so there will be no governing authority for regulation and that might also prove beneficial for illegal dealers.

[Sithara007]

My goverment forbid bitcoin usage because it can be use for money laundry  ( advantage for terorism activity )
So it has small chance for my goverment for bitcoin usage as the result bitcoin popularity can't grow like EU zone

I think only a few politicians in a country know about bitcoin, I think even though they knew about bitcoin, they certainly will not take the risk to launder millions of dollars in bitcoin because it is very risky

Right now Bitcoin is being targeted by an extensive negative propaganda campaign against it. The mainstream media is doing its best to paint the bitcoin as a currency, which is widely used for extortion and the purchase of contraband. If some politician backs Bitcoin, then his opponents will accuse him of indirectly supporting various criminal activities. And that will end his political career.

[South Park]

As long as the state does not stop trying to make Bitcoin controlled and users are not forced to pay taxes, then as long Bitcoin is particularly outlawed in some countries. This is sad.

And the fact that bitcoin cannot be controlled by the state then illegal activities will remain and won't be forced to be gone. Because even in fiat money, it is being controlled and produced by the central banks. Still the government is having hard time to fight against those criminals who are using it for their illegal activities, it is by nature that criminals can do everything just for the sake of their illegal activities.

Governments of the world control fiat, tell me have crimes involved fiat disappeared? No, then the government does not have the power to stop crimes committed with bitcoin, at best they can capture people after the fact, but they have no power to prevent it.

In other words bitcoin and fiat are just the same that there is illegal activities happen control by government or not..
Well for me bitcoin is just a business if you have it.. you can buy and sell it the value of bitcoin is unpredictable
so bitcoin has a value anytime they can use bitcoin as alternative so i think not only bitcoin are uses in darkweb they are also using other payment method like perfect money ..

Perhaps in the future will seem new prospects for Bitcoin, especially if all transactions are legitimate.

If Bitcoin is strongly related to drugs, weapons, and other criminal bids, this benefit will not go, but instead provide a lot of problems.

Any new and revolutionary invention or discovery is going to solve some problems and may create new ones, but even without bitcoins we already have problems with drugs and weapons, at worst bitcoin has become another way for the criminals to conduct their felonies and nothing more.

[nocryinginbtc]

Bitcoin is being used for illegal activities.  In the beginning it was estimated that most bitcoin trading volume was for the dark market. Now not so much. It didn't stop bitcoin then and it wont stop it now.

[Positid]

Bitcoin is being used for illegal activities.  In the beginning it was estimated that most bitcoin trading volume was for the dark market. Now not so much. It didn't stop bitcoin then and it wont stop it now.

That simply because it's anonymous so it became the favorite of the people who do illegal activities. It's something we cannot control as bitcoin is not regulated so we cannot do anything about it. Just learn to reap the benefits of their actions instead of condoning them. They are making bitcoin more popular.

[Kemarit]

Bitcoin is being used for illegal activities.  In the beginning it was estimated that most bitcoin trading volume was for the dark market. Now not so much. It didn't stop bitcoin then and it wont stop it now.

That simply because it's anonymous so it became the favorite of the people who do illegal activities. It's something we cannot control as bitcoin is not regulated so we cannot do anything about it. Just learn to reap the benefits of their actions instead of condoning them. They are making bitcoin more popular.

They bringing some value especially when they are dealing big amount and i also just closing my eye because with the price hype it is all of us enjoying and benefitting from that particular actions. So better to come with the flow

[coolcoinz]

Like others have said it is being used, but what about it? Illegal doesn't mean bad, unethical. For instance in North Korea it's illegal to have internet and in China it's illegal to move money out of the country. 

[Text]

Like others have said it is being used, but what about it? Illegal doesn't mean bad, unethical. For instance in North Korea it's illegal to have internet and in China it's illegal to move money out of the country. 

It makes illegal because it is against the law. So once they not follow the rules they are no longer an abiding citizen of course. They will be put in jail, pay the penalties and mark as criminal, is that what they really want? So before doing anything even we have the rights on how to use btc, think about the consequences.

[leonair]

Of course it does, everything in this world can be use in any illegal activities, even FIAT money used to illegal activities, how much more cryptocurrencies that is use in a virtual world and you are transacting to a person that you can't even see or touch that can make himself/herself fully anonymous in the internet, that is more far dangerous though.

[Sithara007]

In the beginning it was estimated that most bitcoin trading volume was for the dark market. Now not so much. It didn't stop bitcoin then and it wont stop it now.

NO.

That is wrong information. In the beginning, the vast majority of the Bitcoin transaction volume was accounted by the online gambling sites (especially Satoshi-dice). I am not sure about the proportion which was directed towards the dark markets, but I assume that it was less than 10% of the total volume.

[Liad.Services]

As the nature of bitcoin as an anonymous currency it is pretty easy to make scams and to do some illegal stuffs with bitcoins as it will be pretty hard to call the law on you or to find your idenity.

But people also use cash to deal with drugs and do illegal stuffs,does it mean that we should ban cash?
I dont think so.

[GregH37]

My goverment forbid bitcoin usage because it can be use for money laundry  ( advantage for terorism activity )
So it has small chance for my goverment for bitcoin usage as the result bitcoin popularity can't grow like EU zone

It depends on exactly what kind of ban your government has imposed on Bitcoin usage. May I know what country you are from? Other than that, it basically doesn't matter for criminals whether or not the government have banned Bitcoin. They will use it either way as they can simply convert their coins to fiat back and forth via other countries.

Well, for my country it is not illegal but I can say that if you make a high amount of bitcoin and than exchange it for fiat currency they may ask “where did you get this money from” which might be hard to explain to goverments all around the world. So make bitcoin, spend bitcoin ,means do not try to encash it.

[South Park]

My goverment forbid bitcoin usage because it can be use for money laundry  ( advantage for terorism activity )
So it has small chance for my goverment for bitcoin usage as the result bitcoin popularity can't grow like EU zone

It depends on exactly what kind of ban your government has imposed on Bitcoin usage. May I know what country you are from? Other than that, it basically doesn't matter for criminals whether or not the government have banned Bitcoin. They will use it either way as they can simply convert their coins to fiat back and forth via other countries.

Well, for my country it is not illegal but I can say that if you make a high amount of bitcoin and than exchange it for fiat currency they may ask “where did you get this money from” which might be hard to explain to goverments all around the world. So make bitcoin, spend bitcoin ,means do not try to encash it.

That is not really a problem as long as you earned that bitcoin legally, the only thing to watch for is the amount you will need to pay in taxes to your local government.

[Natalim]

My goverment forbid bitcoin usage because it can be use for money laundry  ( advantage for terorism activity )
So it has small chance for my goverment for bitcoin usage as the result bitcoin popularity can't grow like EU zone

It depends on exactly what kind of ban your government has imposed on Bitcoin usage. May I know what country you are from? Other than that, it basically doesn't matter for criminals whether or not the government have banned Bitcoin. They will use it either way as they can simply convert their coins to fiat back and forth via other countries.

Well, for my country it is not illegal but I can say that if you make a high amount of bitcoin and than exchange it for fiat currency they may ask “where did you get this money from” which might be hard to explain to goverments all around the world. So make bitcoin, spend bitcoin ,means do not try to encash it.

That is not really a problem as long as you earned that bitcoin legally, the only thing to watch for is the amount you will need to pay in taxes to your local government.

If you are not too honest you can be, you do not need to report as anyway you can hide your earnings online. I don't know about how strict the implementation in your country but you can only be trace if you deposit your money in the bank as that can be a audit trail if they prefer to audit you.   

[MancyZz]

I see more and more acrticles of bitcoin being used for illegal activities
will this hurt bitcoin in the long run , will governments ban this just like they started to do wih paying in cash for some services
to harden the use of illegal , and money laundering

i think it's just doing person dislike of bitcoin, many positive things of bitcoin
1. bitcoin can fill your free time
2. bitcoin can get more profit
3. bitcoin can add your income etc

[jossiel]

Of course it does, everything in this world can be use in any illegal activities, even FIAT money used to illegal activities, how much more cryptocurrencies that is use in a virtual world and you are transacting to a person that you can't even see or touch that can make himself/herself fully anonymous in the internet, that is more far dangerous though.

And upon using bitcoin with illegal activities, those criminals are very favored for adopting it with their transactions for they will be hard to be traced.

Also they don't have to put their names or any other information that will be able to know their identity.

So they are taking advantage of bitcoins for their illegal activities, the same thing on how they use it with fiat money.

[Sithara007]

Well, for my country it is not illegal but I can say that if you make a high amount of bitcoin and than exchange it for fiat currency they may ask “where did you get this money from” which might be hard to explain to goverments all around the world. So make bitcoin, spend bitcoin ,means do not try to encash it.

Why you want to go through all these trouble? Instead of receiving the money in your bank account, you can meet up with some reputed trader from the localbitcoins and then exchange your coins for physical cash. How the government is going to track you?