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Author Topic: Bitcoin, Crimes, and Terrorism  (Read 5422 times)
Jewell
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April 16, 2017, 04:24:38 PM
 #121

Yes, There are multiple cases in which Bitcoins can be used illegally. Bitcoins bring with it, a notion of anonymity which allows people to transact without revealing their identity. This privilege can be highly misused. However all exchanges in the world mostly are following Anti Money Laundering and Know your customer Policy to avoid any illegal activity by any user of Bitcoins.

Anonymous is the biggest bitcoin problem and very serious thing that must be immediately resolved, it's time to wallet provider verifying bitcoin user identity, so if there are problems of course can be accountable.
i do not think that it is a problems it is one of the best characteristic of bitcoin and most of the people like bitcoin because of its anonymity. if bitcoin will lost this characteristic then its popularity will also effect. therefore we can hope that bitcoin will continue its anonymity characteristic for ever.
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Qartersa
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May 06, 2017, 03:59:54 PM
 #122

Bitcoin's anonymity is really a great characteristic. It enables users to use BTC in any transactions with nearly no traces. But is this really a good thing? Let us consider utilizing bitcoin in a negative way. Since bitcoin is considered currency, there is no doubt that a person that needs money will not reject bitcoin even if it involves unethical or illegal act.

Due to the anonymity of bitcoin, some uses bitcoin in a negative way [citation needed]. They can easily use bitcoin in paying others to commit crimes. They can even use bitcoin in bribery and/or money laundering. This characteristic of bitcoin are abused [citation needed] and it will never end well.

For the case of terrorism, terrorist can easily purchase weaponry from other country. With the use of transaction using bitcoin, authorities will have a hard time tracing that transaction thus, will give advantage to the side of terrorists.

This is not an impossible scenario. People can now use bitcoin in any way they want to. It's inevitable.

I share the same sentiments as above. That is why some countries do not support the use of Bitcoins because it has successfully penetrated their respective jurisdictions without requisite regulations.

I really think that Bitcoins can go a long way for the better, however, its proliferation should submit to a State regulation in order to do away with illicit businesses that come with it. Just like a normal currency which is developed as a means of exchange but is still widely used as means to create crimes, Bitcoins also have the same dilemma. Thus, the only answer is a sound regulation that will address this issue. The aforesaid regulation cannot be expected to do away with all the negative intricacies but will only somehow eliminate the unacceptable side. 

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pecson134
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May 06, 2017, 04:11:18 PM
 #123

Bitcoin's anonymity is really a great characteristic. It enables users to use BTC in any transactions with nearly no traces. But is this really a good thing? Let us consider utilizing bitcoin in a negative way. Since bitcoin is considered currency, there is no doubt that a person that needs money will not reject bitcoin even if it involves unethical or illegal act.

Due to the anonymity of bitcoin, some uses bitcoin in a negative way [citation needed]. They can easily use bitcoin in paying others to commit crimes. They can even use bitcoin in bribery and/or money laundering. This characteristic of bitcoin are abused [citation needed] and it will never end well.

For the case of terrorism, terrorist can easily purchase weaponry from other country. With the use of transaction using bitcoin, authorities will have a hard time tracing that transaction thus, will give advantage to the side of terrorists.

This is not an impossible scenario. People can now use bitcoin in any way they want to. It's inevitable.

I share the same sentiments as above. That is why some countries do not support the use of Bitcoins because it has successfully penetrated their respective jurisdictions without requisite regulations.

I really think that Bitcoins can go a long way for the better, however, its proliferation should submit to a State regulation in order to do away with illicit businesses that come with it. Just like a normal currency which is developed as a means of exchange but is still widely used as means to create crimes, Bitcoins also have the same dilemma. Thus, the only answer is a sound regulation that will address this issue. The aforesaid regulation cannot be expected to do away with all the negative intricacies but will only somehow eliminate the unacceptable side. 

This much like the barrier that hinders certain countries to acknowledge bitcoins. Gaining anonymity on bitcoin transaction gives advantage to those terrorist who were collecting money through illegal means. This means that we would have difficulty to track where the funds came from and where it would be send.

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MingLee
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May 06, 2017, 04:19:03 PM
 #124

Bitcoin's anonymity is really a great characteristic. It enables users to use BTC in any transactions with nearly no traces. But is this really a good thing? Let us consider utilizing bitcoin in a negative way. Since bitcoin is considered currency, there is no doubt that a person that needs money will not reject bitcoin even if it involves unethical or illegal act.

Due to the anonymity of bitcoin, some uses bitcoin in a negative way [citation needed]. They can easily use bitcoin in paying others to commit crimes. They can even use bitcoin in bribery and/or money laundering. This characteristic of bitcoin are abused [citation needed] and it will never end well.

For the case of terrorism, terrorist can easily purchase weaponry from other country. With the use of transaction using bitcoin, authorities will have a hard time tracing that transaction thus, will give advantage to the side of terrorists.

This is not an impossible scenario. People can now use bitcoin in any way they want to. It's inevitable.

I share the same sentiments as above. That is why some countries do not support the use of Bitcoins because it has successfully penetrated their respective jurisdictions without requisite regulations.

I really think that Bitcoins can go a long way for the better, however, its proliferation should submit to a State regulation in order to do away with illicit businesses that come with it. Just like a normal currency which is developed as a means of exchange but is still widely used as means to create crimes, Bitcoins also have the same dilemma. Thus, the only answer is a sound regulation that will address this issue. The aforesaid regulation cannot be expected to do away with all the negative intricacies but will only somehow eliminate the unacceptable side. 
Bitcoin is essentially the perfect anarcho-capitalist currency, and that's the issue that governments have with it. Trying to regulate it will do nothing to the terrorist cell or the criminal and it hurts the average user far more than anyone else. Terrorists will still get their money, criminals will go back to using cash or other illicit means, and nothing happens to really stop anything.
Regulation is not going to solve their issues, especially considering Bitcoin is used for crime that typically has very few victims and is rarely used by terrorists, aside from some high-profile cases like the Paris attacks.
piebeyb
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May 06, 2017, 04:24:20 PM
 #125

Bitcoin is only used as a tool and that should be prevented is bitcoin users and not bitcoin, I think the same thing with this may be some people abusing bitcoin but I believe that all the problems that exist in the bitcoin can be overcome

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Kubra Dam
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May 06, 2017, 04:24:59 PM
 #126

I've just read the whole story and the posts under this thread. What I can is that you guys are making the bitcoindeviate from how it is actually and currently. I don't really understand how you find these type of ideas... Anyways, you can keep discussing something which is not true.

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