Crime funded by bitcoin

[Omega Weapon]

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.

Yeah it has been common recently and it is really one reason that Bitocin became so famouse. It's also a reason why some countries do not want to legalize Bitcoin, they don't want to risk their countries.

Nothing but an excuse I must say, governments are shielding themselves by using that as justification against legalizing bitcoin but they know full well they do not do it because bitcoin is a revolutionary currency that is going to change the way people make business and the way in which we think of trade and our relationship with money.

[prieaji]

If the crime is funded by a valuable item such as gold that has enormous value, will it also be the same fate as you said in bitcoin.

[inthelongrun]

Crimes are funded by crooked people who are not in their right minds. I think it won't matter anymore what funds are being used. Crimes have been there since the beginning of humanity. It is funded by myriad of things. Right now, it is funded by USD, EURO, Riyal, Pound, and all kinds of currency. Bitcoin of course is not exempted. They have their own share also as other criminals prefer bitcoin.

[masterwakokok7]

I think that criminals can be tracked, because they will make too expensive purchases and they will not even help the anonymity of bitcoins. Criminals also use other types of currencies, but bitcoin may seem to them to be better in terms of security.

Nope. I'm not saying that it is impossible to track but the fact that Bitcoin is decentralized that gives an edge for this criminals and/or syndicates to transact without being notice, some might even use encryption for them not be more invulnerable. Also, this criminals are not that *dumb* enough to sabotage their anonymity.

[Omega Weapon]

I think that criminals can be tracked, because they will make too expensive purchases and they will not even help the anonymity of bitcoins. Criminals also use other types of currencies, but bitcoin may seem to them to be better in terms of security.

All the transactions ever made in bitcoin can be seen, everything is right there for you to see, it is in the blockchain, there are business making money with that right now, they are trying to link the transactions that you make and if you make a mistake they could even put a face and a name to all of those transactions, so to all those criminals doing their thing in bitcoin may have their days numbered.

[jameshowlett]

Well, that is not because of bitcoin or even money. That is because of the people. The people are not educated well and there is still a big gap between the poor and the rich. That is why there is always a crime. Even if they use shit as a term of payment, crime can still be funded by shit

[yoseph]

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 always seem to find its way in almost everything, Bitcoins is the latest way for criminals to launder money without being caught and there seems to be nothing that governments can do to stop it. This has rather help increased the price since almost am sure even terrorists even use them.

[swogerino]

It is much less than crime founded by FIAT. Criminals still prefer to use FIAT cash as is traceless once you handle it person to person. Bitcoin can be tracked in the blockchain although it can be mixed through different mixing services. Bitcoin is being used in the hidden internet but the usage of bitcoin in criminal activity compared with FIAT cash is almost 0%.

[Aamir1]

There can't be a single money related thing in the world that can survive from crime and criminals. Bitcoin is also used for funding crimes of course like other currencies but we never know when and where that happens because bitcoin cannot be tracked. You cannot find someone by just having his bitcoin wallet and in bitcoin you cannot have any other information about them except that.

[Skieleton]

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 think this is one of the most started topic in this forum.Lets say that bitcoin is not anonymous,it has an open ledger and how could that be anonymous and every transaction is lodged in the public ledger,it is easier for the authorities to catch the culprits ,see for example how FBI caught  ‎Ross William Ulbricht‎ who ran silk road and confiscated all of his earnings in bitcoin.

I knows the story of a thief who turns all stolen money into BTC. He was caught and he was sentenced to 10 years in prison. Police not were able to recover money. The guy will serve 10 years and then he will be a millionaire for the rest of his life. What do you think about that?

[Adbitco]

It's not just bitcoin but it's the money which is the cause of all the evils and since the tag money is attached to bitcoin also it can be used by the criminals too just like fiat is used by them. As far as tracking the criminals or crime funded by bitcoins is concerned there have been instances where people involved in funding crimes or criminal activities with bitcoin have got caught by the police or by any other authorities entrusted with the task of curbing crimes.

[pitiflin]

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.

Bitcoin was created for good purposes which includes anonymity but this was taken for a wrong meaning and some people use it for illegal purposes, so why is Bitcoin and its founder getting blamed? Its good that Satoshi Nakamoto has not revealed his identity, if he had he might be behind bars for the  illegal things he didn't do.

[JasonXG]

Duse crime can be funded my a lollipop store. Hell your church could be funding crime. Anything can funs crime. People are bad not things. Blaming bitcoin is like blaming the tree when you crashed into it.

[Skieleton]

Where good and evil are. People will look for a way to quickly enrich and maintain wealth. Especially the wealth collected illegally. BTC is an solution in crime .

[franco123]

I believe in the statement that money is the root of all evil. With that, Bitcoin being conaidered now as a digital currency and therefore as money, is also a root for crime. In my oppinion, Bitcoin is funding crimes that is related to hacking in order to steal more Bitcoins. The idea is that they look unto crimes that is something that they already know and have an idea on which is Bitcoin. And therefore, Bitcoin it is. Another possible crime that they are funding about Bitcoin aside from the hacking is the mining. They may be behind on kind of minning hack that is illegal.

[cryptojac17]

I believe in the statement that money is the root of all evil. With that, Bitcoin being conaidered now as a digital currency and therefore as money, is also a root for crime. In my oppinion, Bitcoin is funding crimes that is related to hacking in order to steal more Bitcoins. The idea is that they look unto crimes that is something that they already know and have an idea on which is Bitcoin. And therefore, Bitcoin it is. Another possible crime that they are funding about Bitcoin aside from the hacking is the mining. They may be behind on kind of minning hack that is illegal.

Criminality now a days is always a menace they will always look for an opportunity to take advantage if  will be caught off guarded. Will bitcoin or crypto currencies is no excuse for these there is a possibility that it can be used for criminal financing, but I believe that since it has existed for several years without fraud yet, it has a security features that will protect the investors like ledgers and traceability features that can easily detect if there are any abnormalities in the system.

[trippki]

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.

A recent study reports that criminals still prefer cash to crypto...
http://www.zerohedge.com/news/2017-07-17/criminal-groups-still-prefer-cash-bitcoin-eu-study-finds

[pushups44]

The notion that bitcoin facilitates crime is spread by ignorance and fear-mongering. Bitcoin is theoretically trackable, since the blockchain is public, which is why organized criminals are increasingly switching to cryptocurrencies with stronger anonymity features. Paying and collecting in cash is perhaps the best way to launder money, which I do not condone.

[frowsiter]

There is big possibility at this very movement as we speaking about this topic, people might be trading illegitimate stuff in the black market. Yes you are correct that bitcoin being anonymous can lead to corruptions all over the world. It's not easy to track and people will always love to do hidden transactions if they are doing something wrong. Even this money might be used in storing lots of black money and bitcoin may help them do the money laundering in smooth way.

[sudip76]

all type of money use criminal activite. sorry to say bitcoin also use criminal.