Crime funded by bitcoin

[Shenzou]

Since Bitcoin was ever released, I've thought of the possibility of this. Will crimes be easily funded now due to bitcoin and it's anonymity? How do you think the authorities will combat this? Will this lead to a decline in the price of bitcoin? I've had this on my mind for a while now and I would like to hear your guys opinions.

I do not think that would happen if somebody intended to use Bitcoin well, because Bitcoin is not for crime and you can not turn on Bitcoin by yourself, because Bitcoin is the same digital currency as paper money used to do every transaction every day with Every Person Around the Country, this may be all the factors of social jealousy against Banks, who do not want to compete with Bitcoin.
Maybe this is just my opinion

Few people know the truth behined bitcoin uses, bitcoin is the main currency that people on the dark web use to make transaction betweeen each other and that is due to the reason that bitcoin hides your identity and you don't need any information on the other person to send him money, and this made the perfect cover for people to d thier illegal acts like selling drugs or hacking.

[victory1]

It no secret by now that BTC is the currency for grey/black.sector

[Hipster999]

It no secret by now that BTC is the currency for grey/black.sector

Any currency can be used in dark transactions, but in bitcoin because of anonymity there is an advantage. Therefore, many countries are still afraid to accept it.

[reflector]

It no secret by now that BTC is the currency for grey/black.sector

Any currency can be used in dark transactions, but in bitcoin because of anonymity there is an advantage. Therefore, many countries are still afraid to accept it.

Some set of people using bitcoin's feature and do the illegal transactions but we cannot say completely bitcoin is being used in these places officially. If bitcoin is adopted as legal and make it as regulated money. Then it also get reduced in those places.

[hawthelegend]

Seriously?? This type of question again?? Lol I can barely even count how many times i saw this type of question not only in this forum but all over the social media sites and other sites hahahaha. Listen man, bitcoin does not make you anonymous. Every transaction is recorded. Infact, it can make the jobs of law enforcers easier. That is if they are not ANONYMOUS themselves. Lol haha

[BitFinnese]

I believe it has been established that bitcoin were once used in crimes and illegal trade.  There is no surprise if we found out that it is used to fund crimes since all kind of money can be used to fund them depends on the choice of the criminals.  But they found out that bitcoin is not fully anonymous.  Since transaction can be traced in the blockchain.  Aside from that dark market are now moving to more secure and anonymous coins.

[djtas bitbit]

Bitcoin prices rose not because of crime using bitcoin. More because the news becomes viral and many people are looking for bitcoin so it becomes scarce and the price goes up. Nothing to do with evil

Indeed the increasing price bitcoin makes a lot of people are looking for so that it becomes rare bitcoin will rise in price, but the price is not a crime go up bitcoin that makes users disappointed but make the user benefit of this will be part of the bitcoin, but there is no connection with crime at all

[SimmonenY]

The main advantage is that bitcoin can't be traced (almost) so it's convenient for the criminals.

[sir.humus]

The main advantage is that bitcoin can't be traced (almost) so it's convenient for the criminals.

on the other hand, every transaction is recorded.
no money transferred "under the table".
with a little investigating work you can find hints to the source (if not the source himself).

Bitcoin is just a tool, like any other currency, one might use it for good stuff, and the other one will use it for bad.
But the bitcoin itself doesn't fund any criminal activity.

[wantjokull]

The crime, it can be done in any way as it is crime! There is no need of bitcoin or anything else. Bitcoin may be used as medium to pay the money as it is very anonymous currency. No one can really track it but I'm guessing what kind of crimes may happen? Forgery, drug dealing etc may be possible as it depends on the money. If someone really want it badly then they may accept bitcoin as made of deal. Possibly.

[stripykitteh]

Since Bitcoin was ever released, I've thought of the possibility of this. Will crimes be easily funded now due to bitcoin and it's anonymity? How do you think the authorities will combat this? Will this lead to a decline in the price of bitcoin? I've had this on my mind for a while now and I would like to hear your guys opinions.

Crime is one of the things that allow money to get circulated among the citizens of the world. Bitcoin is going to increase the amount of money flowing in the underground markets online and offline though that does not mean that currencies like USD, CHF, EUR is not going to be used for funding crime as well.

Money can’t be controlled by the people that are doing crime, it just won’t happen. I wouldn’t worry at all.

[Harlot]

I think this is now existing up to our present day. I mean if Bitcoin is now the main currency for transacting in the dark web it suppose to mean that people earning that Bitcoin is being funded by it right? With Bitcoin it made their transaction smooth without leaving any trace behind, just look at the recent ransomware attack it maybe just a malware but the guy running it is now a millionaire because of his invention. But nevertheless it is unavoidable since criminals will always find a way to take advantage of any situation.

[alexsamudra]

If there is a funding on crime that uses bitcoin as a fund for crimes in the form of gold and paper money or something else

[ozaeri]

Since Bitcoin was ever released, I've thought of the possibility of this. Will crimes be easily funded now due to bitcoin and it's anonymity? How do you think the authorities will combat this? Will this lead to a decline in the price of bitcoin? I've had this on my mind for a while now and I would like to hear your guys opinions.

Authorities combat this with stricter and stricter KYC rules on exchanges but ultimately it is still easy for crime to be funded using bitcoin. In reality there is little authorities can do about it, it is one of the "features" of bitcoin. Its unlikely to affect the price however as even criminal enterprises will create new demand for bitcoin.

It was only in the early days that fears spread of governments banning its use but now we can see that is overwhelmingly not the case in the world.

[Chikito]

Since Bitcoin was ever released, I've thought of the possibility of this. Will crimes be easily funded now due to bitcoin and it's anonymity? How do you think the authorities will combat this? Will this lead to a decline in the price of bitcoin? I've had this on my mind for a while now and I would like to hear your guys opinions.

There is no 99% anomality in bitcoin, only 100% anounymous transactions. But bitcoin and deep web are interrelated, I've never and do not want to think of bitcoin transactions for crime, because it is the job of professional hackers and international intelegent.

[Ucy]

Pretty much every currency can be used for criminal activity. Nothing stops me now from using my local currency to purchase illegal guns or drugs. I have come to realize that those Singling out Bitcoin for regulation are wasting their time as other Cryptos with far more anonymity would be created.

[jonosutio]

If so then many people assume that bitcoin can do a crime transaction, and that could weaken the bitcoin. And all will fight bitcoin by big scale

[piloder]

Since Bitcoin was ever released, I've thought of the possibility of this. Will crimes be easily funded now due to bitcoin and it's anonymity? How do you think the authorities will combat this? Will this lead to a decline in the price of bitcoin? I've had this on my mind for a while now and I would like to hear your guys opinions.

- Actually criminals are using bitcoin to move their funds because of privacy.
- Authorities can't shut down bitcoin so they might try to monitor movement of bitcoin in and out of exchangers.
- It might rather pump price.

[BitcoinPC]

It no secret by now that BTC is the currency for grey/black.sector

Any currency can be used in dark transactions, but in bitcoin because of anonymity there is an advantage. Therefore, many countries are still afraid to accept it.

Crime is funded by every currency on the planet. The only reason talk about it connected with Bitcoin so much is that for the common public, there is nothing else for them to say and the government mentions it all the time because they don't like currency they cannot manipulate.  it hit the press pretty hard because it was a new way to move anonymous funds and that made it interesting.

[erikalui]

It no secret by now that BTC is the currency for grey/black.sector

Any currency can be used in dark transactions, but in bitcoin because of anonymity there is an advantage. Therefore, many countries are still afraid to accept it.

Crime is funded by every currency on the planet. The only reason talk about it connected with Bitcoin so much is that for the common public, there is nothing else for them to say and the government mentions it all the time because they don't like currency they cannot manipulate.  it hit the press pretty hard because it was a new way to move anonymous funds and that made it interesting.

The issue isn't that everything is used for illegal purposes. Even fiat is used by money launderers but 70-80% of the transactions done in fiat are mostly legal while in bitcoins, you cannot regulate the currency and the number of users dealing in bitcoins are gamblers and ones who want to save taxes thus invading their own tax regulations. Some only are real investors who want to take advantage of the price and trade in it.