Criminality and Bitcoin

[xBitHodler]

Crime is everywhere and we can't ban it. If we even tried, how would you do it? Goverments are trying to get rid of paper money and switch to online banking because they could control everything easier. No more tax evading, buying illegal things etc. If something like this happened, I think they would use gold or silver for transactions.

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[Zadicar]

Crime is everywhere and we can't ban it. If we even tried, how would you do it? Goverments are trying to get rid of paper money and switch to online banking because they could control everything easier. No more tax evading, buying illegal things etc. If something like this happened, I think they would use gold or silver for transactions.

Criminals would really do anything to transact with those things which do have value which as being said here if they would need to transact gold and silver for sure they would do such thing since they know its still money because it does have value and bitcoin isnt an exception on that one specially its decentralized and anonymous.Its the perfect recipe to commit crime when it comes to money transactions.

[donGeilo]

Bitcoins have both advantages and disadvantages .The feature of being anonymous which is attracted by many bitcoin users is the feature that is also attracted by many criminals. Recently , ransoms in millions were taken from the movie producers of The pirates of carribbiean and Game of thrones. All these activities has led to the increase in criminal activities associated with bitcoins. Bitcoins is also being used by many spammers who flood the internet with spams and make a fool of investors. Many people have lost their money to spammers and there is no way to indentify them as their identity is hidden as per bitcoin property. So these reasons have fueled the criminal activities associated with bitcoins.

[8Habits]

Bitcoins have both advantages and disadvantages .The feature of being anonymous which is attracted by many bitcoin users is the feature that is also attracted by many criminals. Recently , ransoms in millions were taken from the movie producers of The pirates of carribbiean and Game of thrones. All these activities has led to the increase in criminal activities associated with bitcoins. Bitcoins is also being used by many spammers who flood the internet with spams and make a fool of investors. Many people have lost their money to spammers and there is no way to indentify them as their identity is hidden as per bitcoin property. So these reasons have fueled the criminal activities associated with bitcoins.

This is really true and we cannot deny really that fact. But to new people investing in bitcoin, better focus your full attention on the good side of bitcoin the reality is, everywhere there will always be the bad guys and you just armed yourself with due diligence and vigilance with your investment and make a killing of getting great returns!

[Sergio D]

It's an irrefutable fact that bitcoin is and will be used for criminal operations. The question is: on what scale?

It should not necessarily be a direct buying of guns or drugs. For example, a terrorist might buy parts for IED with bitcoin which makes the transaction untrackable.

Is there any official data indicating a surge in drugs and arms trafficking with bitcoin used as a payment method?

[ClvrGmr]

https://www.deepdotweb.com/2016/01/23/bitcoin-playing-an-increased-role-in-crime-europol-says/

Would you believe that the existence of bitcoin has increased the number of criminality in  some countries in the world. This is the issue that was being thrown by the EuroPol and the UK Metropolitan Police. According to them bitcoin has played a huge role on the increasing criminality in their area. They added that a huge number of cybercriminals were using bitcoins in their activities.

This just shows that as bitcoin develops both advantages and disadvantages will tag along.

Ofcourse things like this will likely to happen. Bitcoin has a wide range of opportunities and has a lot more to grow but with this problems occur along the way. Since you cannot control bitcoin's capacity to immerse it can be used by people with such intensions as you said. Criminality has a great advantage to this since bitcoin transaction is almost anonymous to anyone except you nd the one you have your transaction with. What can we do here is to take action while we can because if bitcoin will be widely used in the future its harder to stop criminal activies involving bitcoin.

[rocketbits]

Bitcoin is the identical as a drug, when a bitcoin person makes use of it properly, then bitcoin will continue to be good. Likewise when used in damaging, bitcoin will be bad. This kind of as cash laundering, payment of criminal offense services and a lot of other point

Wherever there is money there will always be evil following it. As we see bitcoin and its progress, surely there will be many people who are jealous of it and many corrupt people will try and shut it down illegally.

Plus hackers these days are so advanced that they will try and hunt down bitcoin. We need to be careful about it.

the current price of bitcoin and its promising increase in the near future actually lures both good and bad holders of bitcoin. There will always, and we cannot get away with it, people that will transact illegal transactions using bitcoin just like using fiat money.

Nothing is good or bad but it is we who makes either positive or negative use of anything which is available to us. Same is the case if we talk about Bitcoin and other crypto currencies. There are likely chances for this thing to happen in the near future but I am very much sure that such a bad news will never be heard by anyone of us even in the future.

[Ngewex Yuk]

The negative side of bitcoin is anonymous, maybe someday there is a wallet provider that requires identity verification so it can make the user responsible for all transactions done.

[Tumanggor]

not just BITCOIN that causes crime rates but MONEY is also GOLD, so they are just looking for ways to keep Bitcoin from growing, base of agitators ..

[Mailly]

I believe this is a form of bash or putting the BTC down to its level, specifically the lender business owners collaboration. Even though its up to them how to choose and generally place destructive issues to the stable cryptocurrency.

[ruslangitelman223]

Criminals existed before the creation of bitcoin and many may not even have heard of it or doubt its reliability. The currency can not lead to an increase in the number of criminals.

[Mandoy]

Criminals existed before the creation of bitcoin and many may not even have heard of it or doubt its reliability. The currency can not lead to an increase in the number of criminals.

When bitcoin comes into the picture not only investment opportunities, business, income comes in but along the development criminality also takes action. Some potential criminals who are afraid to do some illegal acts on the field have gained guts to do crime like scams on the web because of anonymity of the user. Now even teenagers become scammers and victimized weak and newbie crypto users online.

[Rinder]

People does like to conect bitcoin with criminality always, its funny fiat is being used for several years to do soo many ilegal things that people looks like ignore it and now are focus into bitcoin, looks like only bitcoin is used to the ilegal stuff. Bitcoin can be traced, as long you know some details, fiat cant be traced and should be the real problem, its insane make bitcoin the only guilty taking only the negative use of the coin, while it had achieved soo many good things.

[rcoins0720]

we cannot't blame them because of the blockchain technology and decentralization of BITCOINS
this would be the dark side of BITCOIN because of people's wrong mindsets and doing's
but after years I think the wallet holder will have more security t prevent those happenings

[Jake052478]

https://www.deepdotweb.com/2016/01/23/bitcoin-playing-an-increased-role-in-crime-europol-says/

Would you believe that the existence of bitcoin has increased the number of criminality in  some countries in the world. This is the issue that was being thrown by the EuroPol and the UK Metropolitan Police. According to them bitcoin has played a huge role on the increasing criminality in their area. They added that a huge number of cybercriminals were using bitcoins in their activities.

This just shows that as bitcoin develops both advantages and disadvantages will tag along.

I have also read sometime in September that bitcoins can be used for ransom.  A certain hacker will stop your computer operation and then blackmail you to give them a certain bitcoin ransom as an exchange for your computer to operate again.  I don't know how true it is.  Another one is that bitcoins can also be counterfeited. Meaning it can be fake. There are already hackers nowadays that pays fake bitcoins.  I don't know how true again.  But somehow, we must be vigilant I guess so not to be a victim of such fraud....

[ruskytailz02]

I wont lie but this is the disadvantage of BITCOIN because of how it works and do.
decentralize makes it prone to that happenings and wrong deeds of addicted to drugs
and to those drug lords and criminals around the world

[BitcoinPanther]

It's an irrefutable fact that bitcoin is and will be used for criminal operations. The question is: on what scale?

It should not necessarily be a direct buying of guns or drugs. For example, a terrorist might buy parts for IED with bitcoin which makes the transaction untrackable.

Is there any official data indicating a surge in drugs and arms trafficking with bitcoin used as a payment method?

Bitcoin is accepted as a mode of payment and will never avoid this issue,  Dollar and other fiat currency had been used for criminalities and yet Government never had a chance to stop them even though these government institutions issued the money.  So  I guess no matter what kind of currency it is as long as it is accepted as a mode of payment will never escape the tendency to be used in different criminal activities.

[Lpim01]

Yeah i also see some statements about this bitcoin being a cause of criminal things like drugs and terrorism,they are abusing bitcoins anonimity feature in order to do that illegal things freely

Possible it could be used and increase criminality, since criminal activities are all around us and we really can't controlled it all the times. Since bitcoin now are widely used globally, it could be easy for them to make it, and its very hard for the authorities to take control this kind of activities because lack of evidence unless caught in the act. So we accept the reality that bitcoin not always bring us good but sometimes it goes into bad.

[markdario112616]

It wouldn't be shocked me if criminals do use Bitcoins for their daily transactions. This is one of the disadvantages of Bitcoin that had been an advantage of these criminals, syndicates or cartel. Well to give them a benefit of the doubt, not all cartels or syndicates do know Bitcoin. Decentralized transactions drive these people to engage in illegal activities as they can't be tracked and their IDs are anonymous.

[prehisto]

The negative side of bitcoin is anonymous, maybe someday there is a wallet provider that requires identity verification so it can make the user responsible for all transactions done.

This is so not true.
One of the most beautiful parts is apparent anonymity so that governments and banks cant freeze your money or track it even if its legally obtained. What is yours is yours.

Besides it is hard but it is possible to track BTC in some level.

to reply the original post, i think it is foolish to assume that BTC increased criminality , criminal minds tend to use criminal opportunities. Thus law enforcement only got more information about these criminals when they used BTC in their criminal activities otherwise they would not have had information about their criminal activities because they would have done other activities.