Bitcoin: Paying with the cryptocurrency

[ufaiz50]

Bitcoin payments can be made without personal information tied to the transaction. This offers strong protection against identity theft. this can also can be exploited of bad people to buy illegal goods. as you say

Bitcoin is just a currency. How it is used is a different story.

[1714504898]

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[shinratensei_]

So? People are using USD and EUR to buy drugs and illegal guns. People are using USD and EUR for crimes, assassinations and so on. Why is Bitcoin so different? It's not, it's just the same thing but the difference is that it's anonymous and of course the governors will NEVER agree with it.

It's anonymous and the general thing if the media is a lack of the topic for making a news. And bitcoin is always becoming a target for a lot of the media. because the fiat currency is already mainstream.

[pinkflower]

? Isnt Bitcoin actively used to buy illegal stuff more than being used in legal stuff? How large are the transactions in the whole darknet marketplaces combined right now and at what rate is it growing yearly? I think it comprises around 70% of the Bitcoin economy, while the users who use it for legal items have their coins tucked in their wallets doing nothing.

No it's way lower than that. You can look at the total Bitcoin network daily volume and then compare it with public data share by large companies like Bitpay and Coinbase where people are using it for payouts as well as purchasing goods and it is definitely the majority now. It definitely is the main currency used on darknet markets but I don't think that use case is anywhere near the majority anymore. Think about the last major exit scam and how much it affected the market, if it was 70% the price would have dropped significantly more.

Way lower? Are you sure? I would like to see the hard data on that. You can find the data on the legal stuff but how are you sure the data you saw from the darknet are accurate? Where did you get the data when you made the comparison please post them in the thread and we can continue the discussion.

[jak3]

yes people are using bitcoin to buy illegal stuffs and all but that's because they are knowledgeable enough to go to where they can find those illegal stuffs(dark/deep web) we completely understand how scary or illegal deep web is and a normal internet user should not come at a situation to know this word because that will open the rest of hidden internet access to him which is why they will also start using bitcoin on there instead of real world

[alisus]

I guess it was just a small part!
Think about the last major scams out and how much it affects the market  It's not entirely on how people as Bitcoin user would do something like
It depends on the behavior of people

[megynacuna]

You can't just control how people should use their money; be it fiat or cryptocurrency and so I will just call for security enhancements on the blockchain in order to phish out suspicious use of Bitcoin or other Altcoins in underground/ illegal dealings. There's no doubt people are using it for pornography, drugs etc. but we can't stop them but we can catch them and bring them to book against the law.

[requester]

it depends on how we use it. we use money for value exchange for paying value for anything good or bad so its doesn't  make bitcoin responsible for illegal transaction bitcoin is also used of many good causes also like donation and NGO so we cant neglect bitcoin and we cant blame it as responsible for encouraging illegal transaction

[n0ne]

Paying with cryptocurrencies is not available much. Now even small scale traders as well online stores and exclusive stores have started accepting bitcoin. Found one website through our trading discussion which sells only apple products. Accepting bitcoin is the one which has made the website popular.

[nara1892]

it is just like when you give a knife to someone, he will determine whether he will use the knife to cut fish to eat, or to kill people. and we are talking about bitcoin as a currency that can buy both legal and illegal things, can support you to do legal and illegal things. so it will depend how wise the owner to use it.

[calkob]

Some people use bitcoin to buy illegal stuff, the majority of people use bitcoin on legal things.

Some people use paper cash to buy illegal stuff, the majority people use paper cash on legal things.

Bitcoin is just a currency. How it is used is a different story.

In this piece, bitcoin being a currency and it being used to buy illegal stuff seem like the same story:
http://www.dw.com/en/bitcoin-paying-with-the-cryptocurrency/av-37536803

I agree people are always quick to run bitcoin down, by saying its used by criminals but that is because they haven't thought about it, like yo said cash is even more used by criminals and i dont here the calls for it to be banned....... oh wait, yeah i do ..... the cash wars have started.

[FasTroy]

People resort to use bitcoin like a payment method to buy illegal stuff, because it's more secure and you can't track people with these transactions. No one can disallow that people cannot buy illegal thing by cash, but the problem, It's so risky. so they do that with cryptocurrency, Especially bitcoin.
As we see, in the darknet marketplace we found all stuff sold with bitcoin. There is nothing with real money.
By the way, I don't like this idea about bitcoin, We need to use bitcoin for a good thing not for doing a bad  things or buying drugs etc..

[DarkIT]

many people who have tried to use cryptocurrency to pay for transactions on the internet, or shop online. but, so far I have never felt it. so far, I only use bitcoin to buy credits, or pay internet package. but, one day I will try.

[squatz1]

See the thing with cryptocurrencies is that the only time they really get the big news coverage is when they're discussing things being bought with drugs online, like the first time me and my friends ever heard about bitcoin was when Silk Road was taken down and they were talking about this online anonymous cryptocurrency.

They really painted bitcoin in a horrible light and never fully discussed it's use in this online marketplace and how it eliminates the the need of being scared about a chargeback or anything like that. But I guess that's just what the media does these days, highlight what they can in order to get the right amount of views and just ignore the plain ole' facts.

[BitcoinPC]

Exactly many people use bitcoin in legal side and also illegal. Because it is a choice of bitcoin's users. If we think that bitcoin is not here than definitely people use fiat currency for some illegal ways. But bitcoin is also competitive to fiat, and also it is easy to use on online and people have a freedom to use it in any where.