Can Bitcoin be used for Good?

[simplelisten]

It depends on it's user actually. Bitcoin is just like cash that we are using in our daily lives. It's either we use it on the bad things or in good things. Some people are using their money on buying drugs and other illegal goods and it goes the same to bitcoin, some of the bitcoin users are using bitcoin in illegal activities because they are taking advantage of what can bitcoin do since it is completely anonymous online but still, most of the bitcoin users are using bitcoin in good stuffs.

Yes, its always depends on user, demanfs and usage. But lets look on the wide horizon, people.mostly use bitcoins in buying goods, bitcoins is treated as cash since it was really a money, a digital currency actually. bitcoins will last forever as long as people needs it. Maybe skme are also using bitcoins in thier illegal activities nut some are just earning bitcoins for financial help.

I think some illegal transaction place that using bitcoin is on the dark web, I read some article about dark web and I found that you can buy drugs, guns and other illegal things using bitcoin, so I think it depends on the person if he likes to use the bitcoin in a good or bad transaction but I think mostly bitcoin is in use in good.

[Bitcoinsummoner]

It depends on it's user actually. Bitcoin is just like cash that we are using in our daily lives. It's either we use it on the bad things or in good things. Some people are using their money on buying drugs and other illegal goods and it goes the same to bitcoin, some of the bitcoin users are using bitcoin in illegal activities because they are taking advantage of what can bitcoin do since it is completely anonymous online but still, most of the bitcoin users are using bitcoin in good stuffs.

Yes, its always depends on user, demanfs and usage. But lets look on the wide horizon, people.mostly use bitcoins in buying goods, bitcoins is treated as cash since it was really a money, a digital currency actually. bitcoins will last forever as long as people needs it. Maybe skme are also using bitcoins in thier illegal activities nut some are just earning bitcoins for financial help.

I think some illegal transaction place that using bitcoin is on the dark web, I read some article about dark web and I found that you can buy drugs, guns and other illegal things using bitcoin, so I think it depends on the person if he likes to use the bitcoin in a good or bad transaction but I think mostly bitcoin is in use in good.

Many people in darkweb using bitcoin to transact money and i think they can not trace because there is an online wallet like torwallet that has built in bitcoin mixer so they are almost anonymous to deal to someone because it is not traceable

[Sithara007]

bitcoin is a double edged sword on one hand using it provides security on the internet since no one can trace you down and on the other hand it provides a big opportunity for hackers and black market dealers that use it for selling drugs and other illegal stuff since it provides anonymity,but it all depends on the person that is using it

The bitcoin is not totally anonymous. It is pseudo anonymous. So you can be traced by using the bitcoin.

That is true. As the trail can't be destroyed in blockchain, the user can be tracked back with varying levels of ease. However, if the user mixes his coins, then it takes a lot of time and effort to track him (an example is Tomáš Jiřikovský, the Sheep Marketplace thief).

[Natalim]

bitcoin is a double edged sword on one hand using it provides security on the internet since no one can trace you down and on the other hand it provides a big opportunity for hackers and black market dealers that use it for selling drugs and other illegal stuff since it provides anonymity,but it all depends on the person that is using it

The bitcoin is not totally anonymous. It is pseudo anonymous. So you can be traced by using the bitcoin.

That is true. As the trail can't be destroyed in blockchain, the user can be tracked back with varying levels of ease. However, if the user mixes his coins, then it takes a lot of time and effort to track him (an example is Tomáš Jiřikovský, the Sheep Marketplace thief).

Nowadays, mixing service is very popular especially when you are doing an illegal activities. True, you can trace the bitcoin address for the transaction but it's hard to determine who are the people transacting. It's the benefits of using bitcoin but we do not need to abuse it as it might not give us a good benefits.

[passwordnow]

bitcoin is a double edged sword on one hand using it provides security on the internet since no one can trace you down and on the other hand it provides a big opportunity for hackers and black market dealers that use it for selling drugs and other illegal stuff since it provides anonymity,but it all depends on the person that is using it

The bitcoin is not totally anonymous. It is pseudo anonymous. So you can be traced by using the bitcoin.

That is true. As the trail can't be destroyed in blockchain, the user can be tracked back with varying levels of ease. However, if the user mixes his coins, then it takes a lot of time and effort to track him (an example is Tomáš Jiřikovský, the Sheep Marketplace thief).

Nowadays, mixing service is very popular especially when you are doing an illegal activities. True, you can trace the bitcoin address for the transaction but it's hard to determine who are the people transacting. It's the benefits of using bitcoin but we do not need to abuse it as it might not give us a good benefits.

We can't even stop those people who are abusing bitcoin for real. Because they are loving the way they use bitcoin for their bad plans and doings. But let's just forget those people who are involved to such activities and instead of talking about them, let's just all together work for the good of bitcoin and use it for our own good and needs.

[goldcoinminer]

bitcoin is a double edged sword on one hand using it provides security on the internet since no one can trace you down and on the other hand it provides a big opportunity for hackers and black market dealers that use it for selling drugs and other illegal stuff since it provides anonymity,but it all depends on the person that is using it

The bitcoin is not totally anonymous. It is pseudo anonymous. So you can be traced by using the bitcoin.

That is true. As the trail can't be destroyed in blockchain, the user can be tracked back with varying levels of ease. However, if the user mixes his coins, then it takes a lot of time and effort to track him (an example is Tomáš Jiřikovský, the Sheep Marketplace thief).

Nowadays, mixing service is very popular especially when you are doing an illegal activities. True, you can trace the bitcoin address for the transaction but it's hard to determine who are the people transacting. It's the benefits of using bitcoin but we do not need to abuse it as it might not give us a good benefits.

We can't even stop those people who are abusing bitcoin for real. Because they are loving the way they use bitcoin for their bad plans and doings. But let's just forget those people who are involved to such activities and instead of talking about them, let's just all together work for the good of bitcoin and use it for our own good and needs.

It's not an abuse because there's no law that tell to use for specific transaction only. That's users discretion and they are full responsible of the consequences of what they are doing, but we are just enjoy the benefits of increasing in the circulation.

[Mastsetad]

We can't even stop those people who are abusing bitcoin for real. Because they are loving the way they use bitcoin for their bad plans and doings. But let's just forget those people who are involved to such activities and instead of talking about them, let's just all together work for the good of bitcoin and use it for our own good and needs.

No matter how some individuals use bitcoin, because bitcoin is the only currency in the world that is untraceable which means it is not under control of any authority and that is the reason why it can easily be used for bad things as well, but for sure there are more good users of bitcoin than the bad ones.

[Farma]

I believe that today is used illegally bitcoin user simply deepweb. Well, basically there is a black market that sells something illegal to use bitcoin as a means of transaction. however, I also believe that the current bitcoin is more likely to be used for things that are legal from the illegal. so I guess many people are using bitcoin in a good thing, such as investment, business, and much more

[danherbias07]

I believe that today is used illegally bitcoin user simply deepweb. Well, basically there is a black market that sells something illegal to use bitcoin as a means of transaction. however, I also believe that the current bitcoin is more likely to be used for things that are legal from the illegal. so I guess many people are using bitcoin in a good thing, such as investment, business, and much more

Well we can just make some opinion about that but we dont really know what is happening there. Maybe they are using a different kind of currency to maximize avoiding the trackers who want them down.

[crwth]

I think it really depends on how you use it. There are a lot of people who use it for the bad things and the way I can say that is because some tv shows and series take it seriously. It really happens in the real world. The possibilities and potential of bitcoin are perfect for making bad things. It's just that anonymity doesn't serve anything, if it's bad or good, we can just see the transactions being done in the blockchain.

[Xenophoto]

I think it really depends on how you use it. There are a lot of people who use it for the bad things and the way I can say that is because some tv shows and series take it seriously. It really happens in the real world. The possibilities and potential of bitcoin are perfect for making bad things. It's just that anonymity doesn't serve anything, if it's bad or good, we can just see the transactions being done in the blockchain.

Fiat is even more anonymous. If you see a 20$ in the table, do you know who is the owner of it? Do you know the past of that money? No. In bitcoin, you can trace the history of the money. People just hyped up the idea of bitcoin being used in the dark net when on the other side fiat is used right from the start in illegal activities. I think that bitcoin is being featured in bad things on TV shows because people think being someone shady on the internet and being a hacker is a really cool thing.

[avikz]

Definitely it can be used for good only if you want to do good with it. Don't know how good it can do to the masses, but certainly it can do good for your own lifestyle.

Just don't treat bitcoin as a regular currency and treat it as an investment or asset. More correctly an intangible asset. Hold it for another 5 years and you will see your money is touching the highest peak compared to any other conventional investment. So it can certainly do good to your lifestyle. Alternatively you must understand that bitcoin is not a magic wand so handle it wisely.

[SyGambler]

for me bitcoin means all my online wealth , so for sure I'm using it for good and growing it
and also you should define what good is , cause some people may consider gambling bad but I don't agree with that
also I haven't seen any bad usage of bitcoin so far , so for me bitcoin can definitely be used for good

[Blackdeath]

http://www.theatlantic.com/technology/archive/2016/04/bitcoin-hype/477141/

Something strange is happening to Bitcoin. Once viewed as a way to do business in the darkest corners of the web, the digital currency has rather suddenly become a favorite talking point among humanitarians and international development enthusiasts.

Bitcoin isn’t just for illicit transactions or Internet hobbyists anymore, but for helping the poor, the downtrodden, and the unbanked.

Perhaps Bitcoin can save them! Perhaps Bitcoin can save the world!

Regardless of whether this attitude is realistic—and more on that in a minute—the people focused on demonstrating the social benefits of Bitcoin are challenging existing narratives about the cryptocurrency. While early commentary focused on how Bitcoin might be used to buy drugs online, or for sending money without a paper trail; the social-good argument suggests that these uses were simply the first use-cases in which Bitcoin’s utility became apparent. But there are billions of other potential use. There are, for example, people who face significant obstacles in operating within the formal banking system—and these folks look very different from the shadowy hackers that tend to be seen as the prototypical Bitcoin user. They could be low-wage migrant workers sending money back home to their families, for example, or activists receiving money from abroad during tumultuous times.

Yes it's purpose is for good. As you can see on the platform of btc, what their goal is to use btc in digital currency, easiest and secured mode of payment. However, bitcoin can be used for bad things. It is depend on the people who use it.

[(altair)]

It can be use either good or for bad. It depends on what kind of person are you and how do you intend to use it. Bitcoin can be use for good things in many ways like it's more convenient to send and receive through your family and friends. Also you can use it for bad like buying drugs or deadly weapons without knowing who you are over the internet.

[pealr12]

I dont know ,if people stops accepting bitcoin then its the end. We should consider that there is no forever.
But before i die ,bitcoin will be still use by many people around the world.

[danherbias07]

It can be use either good or for bad. It depends on what kind of person are you and how do you intend to use it. Bitcoin can be use for good things in many ways like it's more convenient to send and receive through your family and friends. Also you can use it for bad like buying drugs or deadly weapons without knowing who you are over the internet.

It will just be the conscience of who did it. If it is for the wrong then we would not know it. But he does knew it by himself. We cant argue with those people specially when they are used in doing it.

[Dudeperfect]

I dont know ,if people stops accepting bitcoin then its the end. We should consider that there is no forever.
But before i die ,bitcoin will be still use by many people around the world.

Exactly, bitcoin won’t last forever and so that with everything. Bitcoin was invented just 7 years ago and still it is in early phase (I believe so) and thus it indicates that we have yet to reach big milestone and more and more people are joining us which is making our community even stronger. Yes, people around the world are using bitcoin and the number is increasing day by day so we don’t have to  worry about existence of bitcoin at this moment.

[clickerz]

Yes it's purpose is for good. As you can see on the platform of btc, what their goal is to use btc in digital currency, easiest and secured mode of payment. However, bitcoin can be used for bad things. It is depend on the people who use it.

I agree with your statement just like with our regular fiat money. Spending it for good is a choice from someone who owns it. We ca not deny that there are also who are using bitcoin for illegal activities and fraud.

[Zadicar]

Bitcoin is could be used on either good or bad, it really depends on the person or user on how he gonna utilize it some may use it on legal way just for online transactions and online payments and we cannot really avoid about those bad people will surely use bitcoins feature which is anonymity they use this as an advantage to make some illegal things which cant be tracked by someone.