Criminality and Bitcoin

[iram1011]

Any new technology is always first used by criminals. For example, cell phones, internet and paypal. There is nothing new in that. Cyber cells always finds a way to tackle it as those technology are required and can't be eliminated on the basis of criminality.

Regarding, bitcoin being used in criminal activities. It is not more of advantage than any other currency. Any currency can easily facilitate crime. It is just like people usually connect it with black market and criminal activities because of initial records (specially those who have never used bitcoin really and live on the news).

Why people forget that Bitcoin is pseudonymous and not anonymous. All of your transactions will always be there on blockchain and that too on open ledger which is accessible to law enforcement agency regardless of borders or any law. Bitcoin is still new and cyber cells are still learning about it. They will improve with time.

More the people will learn about bitcoin, they will get to know how bitcoin is more useful to cops than to criminals.

[agentx44]

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.

This is the kind of reasons that why the government can't approved bitcoin to be a legalize currency because some people use bitcoin for there criminal activities which is sad to think that people is really thinking about bitcoin as a scam because of this people who are doing bad things.

[quzai]

Is caused by the large number of people who think that Bitcoin is anonymous, when in fact Bitcoin is so opposed to it - all transactions Bitcoin transparent and everyone in the world can see the ongoing Bitcoin transaction. People may not be able to connect a particular individual identity to a Bitcoin transaction directly (this is why sometimes Bitcoin is also called pseudo anonymous), but if they find it, then they can see all the transactions you have done on the Bitcoin network. This is why Bitcoin is the wrong way if you use it for things that are not true.

[Dudeperfect]

It is not right.Bitcoin is just a online currency. If anyone used it illegally then it's their fault not bitcoin forum.After all before created bitcoin there were also crime. Yes,nowadays,cyber crime has increased so much but it is not for bitcoin.But they are using bitcoin for save or transfer money.But bitcoin has created for earning money by investing money for man's income.So it's not bitcoin fault. This is a bullshit accused against bitcoin.I will advice the police to catch those crimal but don't accuse the bitcoin.

Bitcoin is a better than fiat system so naturally everyone, (I repeat everyone) would use it to take benefits of it. We should not ignore the fact that criminals might be using bitcoin today and governments might use this aspect to restrict bitcoin but again, it would affect the usage of bitcoin which is used for non-criminal activities (i.e - legal activities) and it won't restrict the illegal users of bitcoin as it is fairly impossible to ban bitcoin completely.

[khan149]

Bitcoin has been created for man welfare.So everyone should don't abuse this coin.

[itsallpc]

Bitcoin has nothing to do with increase in criminality rate.Criminality was there even before bitcoin was created.It would exist even if bitcoin dies.Criminals would love to use coins like monero ,zcash which are fully anonymous and not bitcoin which is pseudo anonymous.

[calandra78]

I really don't know about criminality of bitcoin wise. It is not fault of bitcoin, if bad people use bitcoin, than also see that point that good people also use the bitcoin. Bitcoin is a online currency, everyone could use it, and about the crime now criminality is here in all over the world, but not every criminal use the bitcoin.

I agree crime is a group of people who use this site because of the opportunity that is available mainly in the bitcoin. many are using bitcoin but not all users are a crime or a criminal. your words are true that bitcoin is an online currency which can be used by everyone. a criminal can do if the bad guy can see the point of a chance in the bitcoin. bitcoin criminal and not the same depending on any of its users.

[BitSat]

Bitcoin has nothing to do with increase in criminality rate.Criminality was there even before bitcoin was created.It would exist even if bitcoin dies.Criminals would love to use coins like monero ,zcash which are fully anonymous and not bitcoin which is pseudo anonymous.

You are absolutely right there is nothing to do with criminality because this has very long history and its going with many ways just not with Bitcoins criminal are using many ways for many years its just a mind set that criminality is increasing with this they are using many other methods which governments are unable to check

[imoet]

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 agree. bitcoin has both advantage and disadvantages. But one disadvantages that really stands out is that is pave the way for criminals to used it to import or buy drugs in the dark market. Even terrorist has found bitcoin weaknesses and used it to transfer their funds. But do not put all the fault on bitcoin technology all along, but they should not undermined the advantages of bitcoin as well.

I agree with you..i ever heard that some people made murder videos in their youtube channel just to increase their bitcoin..but it was just few people did that...we can not blame bitcoin but the person itself ....

[qwertyup23]

Bitcoin has nothing to do with increase in criminality rate.Criminality was there even before bitcoin was created.It would exist even if bitcoin dies.Criminals would love to use coins like monero ,zcash which are fully anonymous and not bitcoin which is pseudo anonymous.

I would like to disagree. Since bitcoin is one of the leading crypto-currency in the market with a significant amount of fiat if converted to, it has been used as a gateway of criminals for illegal activities due to the identity of the accounts being unknown. Its characteristics also of being unable to track and the lack of government intervention results to criminal activities. Just to give you an example, there have been several cases on illegal transaction involving bitcoin - an example would be the notorious cases of silk road drugs and mt. Gox.

[CARrency]

Bitcoin has nothing to do with increase in criminality rate.Criminality was there even before bitcoin was created.It would exist even if bitcoin dies.Criminals would love to use coins like monero ,zcash which are fully anonymous and not bitcoin which is pseudo anonymous.

That is right, though there are some reason why bitcoin is used for these kind of criminal activities. We all know that bitcoin's anonymity is the reason, which is really obvious if you will be doing a crime, so your identity is safe, but not fully safe. But I think if bitcoin is not invented, I think people are still finding a safe way to make their criminal transaction.

[izza123]

Why is criminality a disadvantage? Criminality is only a problem if you respect the laws of the governments who control the world.

[speem28]

It is not right.Bitcoin is just a online currency. If anyone used it illegally then it's their fault not bitcoin forum.After all before created bitcoin there were also crime. Yes,nowadays,cyber crime has increased so much but it is not for bitcoin.But they are using bitcoin for save or transfer money.But bitcoin has created for earning money by investing money for man's income.So it's not bitcoin fault. This is a bullshit accused against bitcoin.I will advice the police to catch those crimal but don't accuse the bitcoin.

Have you read what the OP shared? Bitcoin is being associated to criminality due to a number of reasons on how other people use it and take its advantage.  It is not like they are blaming bitcoin for the increase in criminality rate, they are just stating that bitcoin is one of those reasons and also through bitcoin they are able to arrest hackers that are a threat in our cyber world. This just shows that bitcoin has all sorts of advantages and disadvantages that affects us in different ways.

[8Habits]

Bitcoin has nothing to do with increase in criminality rate.Criminality was there even before bitcoin was created.It would exist even if bitcoin dies.Criminals would love to use coins like monero ,zcash which are fully anonymous and not bitcoin which is pseudo anonymous.

You are absolutely right there is nothing to do with criminality because this has very long history and its going with many ways just not with Bitcoins criminal are using many ways for many years its just a mind set that criminality is increasing with this they are using many other methods which governments are unable to check

And in the first place, like fiat money, bitcoin was not made for the criminals as their mode of payment transactions. Bitcoin was designed with good intentions for its users and not for criminals. Hence, criminals can either use bitcoin and fiat money that is the fact.

[IadixDev]

It's not like fiscal paradise or ior vatican have great record on this area either lol remember p2 lodge, panama gate, Swiss bank accepting jew gold tooth as deposit, etc

Since when banks are so careful about illegal money ? Lol

[blofoma]

Bitcoin has become the currency of choice for cybercriminals. Its distinctive characteristics of decentralisation and pseudo-anonymity are also attractive to criminal actors in general, and yet Bitcoin has been assessed as representing only a low money laundering risk. In many respects, cryptocurrencies are still viewed as an unfamiliar, marginal phenomenon restricted to the purview of specialists. Bitcoin constitutes a substantial danger in terms of criminal enterprise; and to promote the case for greater awareness among criminal justice professionals and law enforcement officers in particular.

[Cherylstar86]

It's not like fiscal paradise or ior vatican have great record on this area either lol remember p2 lodge, panama gate, Swiss bank accepting jew gold tooth as deposit, etc

Since when banks are so careful about illegal money ? Lol

Your point here wasn't so defined with regards to swiss bank itself, and I just wanted to expound is about banks were so careful about illegal money. Definitely banks really been background checking all those funds coming to their end due to lots of money traffickers that might deposited a huge amount of money.The criminal issues will strongly be subjected to serious investigations, and it also happens with bitcoin the penetration of the authority might not be transparent as well, due to most of the holders were anonymous users.

[IadixDev]

It's not like fiscal paradise or ior vatican have great record on this area either lol remember p2 lodge, panama gate, Swiss bank accepting jew gold tooth as deposit, etc

Since when banks are so careful about illegal money ? Lol

Your point here wasn't so defined with regards to swiss bank itself, and I just wanted to expound is about banks were so careful about illegal money. Definitely banks really been background checking all those funds coming to their end due to lots of money traffickers that might deposited a huge amount of money.The criminal issues will strongly be subjected to serious investigations, and it also happens with bitcoin the penetration of the authority might not be transparent as well, due to most of the holders were anonymous users.

They only background check when they can loose with fines or being ban from usa market lol

shadow banking existed before bitcoin.

Swiss bank invented sidechains and off reccord accountability maybe even before internet.

At any rate, bitcoin is more transparent than swiss bank or ior.

And they forgot to mention those virus are still often made in nsa, and the flaw they exploit are also hidden by nsa.

[tinhyeumaunang]

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.

Criminals always try to attack networks, bitcoin too. The development of bitcoin is also accompanied by such risks.

[bs.glory]

I think this is a form of bash or putting the BTC down to its level, precisely the bank entrepreneurs collaboration. Although its up to them how to judge and generally put malicious issues to the stable cryptocurrency.