Crime funded by bitcoin

[YajairaSN]

Another popular criminal way to get rich is blackmail. The scheme is again simple and simple: DDoS-attack and demand for redemption, or theft of important information and, again, the demand for redemption.

[Momoamzad]

Yes .criminals are using btc for crime as it is risk to use bank accounts for crime so they are using bitcoin. Because this is not reachable for anyone investigating. This is the another reason of banning btc in various country.

[Ranker]

There doesn't have to be any kind of correlation between Bitcoin and crime.

Crime is an entirely different sociological problem.

[mistanama]

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 bitcoin is not a source of crime. It is difficult to enter bitcoin, it is difficult to use with bad transactions. Because it is very reliable to use, so people trust it. It is better for the bank because it can guarantee you more money. Because of bitcoin it has a beautiful and powerful security for people who use it. It will not allow you to lose just enough money, depending on whether you are victimizing scammers.

[Kiweikoo]

It could be possible. Because of bitcoin's anonymity, bitcoins can be use in crimes. Using bitcoin in crimes is unavoidable. But somehow, bitcoin can find ways to stop it.

This would be really so harsh and rude to associate all crimes or maximum to bitcoin because there were crimes committed online and offline when even people were not having concept of bitcoin in their wildest dreams.

We should keep in mind that bitcoin is giving us liberty to use our money and it is totally upon the user how he or she is utilizing this liberty. In short, we cannot simply blame bitcoin for online crimes because scammers were there even before bitcoin.

[bengca84135120]

While bitcoin is the best choice for a crime, it is not an unforgivable sin.

In fact, if all the tools used by criminals are guilty, the Internet is the one to blame.

[TheKeyLongThumbI]

Regulations and KYC will make criminals unsuccessful on their plots using btc or crypto so other people should not be blinded that bitcoin favors criminal activities more than fiat.

[Edrian]

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.

Because of bitcoin anonymous nature, it was abused in so many illegal transactions, I saw it in the news that bitcoin reach the highest peak on 2017 because of the terrorism, it was used by ISIS group to buy a weapon and other illegal items. It was unfortunate to know that bitcoin has a negative side that is so much darker. I think the authorities are going to have a hard time tackling those kinds of situations. If this kind of situation continues then it will affect the simple bitcoin users, big time.

[Asuspawer09]

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.

Doing crimes with bitcoin has really been a great wave now. The larger the bitcoin community is, sp does the people who use it for crime. Well, doing crime is a choice. And I believe that there comes this time that it will have its consequence. This could be another thing why some government tends to hold bitcoin. They may use this as a reason to control bitcoin. So for us, we must twist it and somehow find a ways to put this down to prevent bitcoin's name.

[szpalata]

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.

Doing crimes with bitcoin has really been a great wave now. The larger the bitcoin community is, sp does the people who use it for crime. Well, doing crime is a choice. And I believe that there comes this time that it will have its consequence. This could be another thing why some government tends to hold bitcoin. They may use this as a reason to control bitcoin. So for us, we must twist it and somehow find a ways to put this down to prevent bitcoin's name.

I agree, we cannot control how people will be able to use their currencies be it fiat or cryptocurrencies and since bitcoin is able to move funds internationally without censorship and guarantees high anonymity, there is no doubt bad people will find it more convenient than the others to facilitate their evil deeds.

[DoublerHunter]

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.

Doing crimes with bitcoin has really been a great wave now. The larger the bitcoin community is, sp does the people who use it for crime. Well, doing crime is a choice. And I believe that there comes this time that it will have its consequence. This could be another thing why some government tends to hold bitcoin. They may use this as a reason to control bitcoin. So for us, we must twist it and somehow find a ways to put this down to prevent bitcoin's name.

I agree, we cannot control how people will be able to use their currencies be it fiat or cryptocurrencies and since bitcoin is able to move funds internationally without censorship and guarantees high anonymity, there is no doubt bad people will find it more convenient than the others to facilitate their evil deeds.

This is the normal thing in the world that all of the crimes are being funded by fiat currencies and now by the cryptocurrencies. It is natural for me because the criminals are smart too that they will find something that is good to use for their own desire and plans and they will not show some care for using it because they are bad people.

[andrei214]

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 is still a type of currency and still can be used as payment.So there will still chances that it can be used for committing crimes.Currency are a powerful material,that its use depends on the person who are going to use it.Is it in good or bad.

[lucas.zimmer]

Yes, crimes could be financed using Bitcoin, but criminals also have other methods of payment so we should not disqualify BTC becuase of that.

I think this is the saddest part of crypto currencies that because of decentralization it is vulnerable. So criminal money is also flowing here. Actually I think that is the main reason why price of bitcoin jumped from 3K to 20K in very short time.

[Dapper]

True, but it's also a drop in the bucket to crimes involving USD $100 dollar notes, the longstanding king of the world of crime for at least the past 157 years, in other words as long as it has existed.

Feel free to retweet that.  

[Sowik]

Well crime is also and mostly funded by fiat currency so I don't see a problem here.

[AntonGrishko]

It is already use by the hackers, illegal dealers and human traffickers to transact or as a payment for the service or transaction happens. So its true - crime funded by bitcoin.

[layoutph]

It's a sad thing that Bitcoin and other alts are used to pay for crime. Coz it would take time to investigate the chain of payments and to trace its owner. Criminals can also use Bitcoin mixing services to break the trace. But dont forget that criminals also using fiat to pay their hitmans and their gang.

[tonyja2017]

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.

to fight bitcoin? Some countries have banned bitcoins because of its anonymity. Bitcoins are really dangerous. There is a lot of news that bitcoin has helped the terrorist group operate.
Because of such dangers, some countries have forbidden the bitcoin. Really bitcoin has brought a lot of people a better life. But bitcoin was used for bad things, I was really disappointed.

[taxmanmt5]

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.

Criminals are almost everywhere. Finding criminal in bitcoin isn't a new thing for us.The main point is finding way to stop them. We know they can attack at any time so for this we have to get ready. Like bank robbers can attack any bank, and bank arrange some security for its safety. We have to do same with bitcoin. It can only possible if government involve with it. But since bitcoin is tax free so its hard for government to work with btc.

[xiboothrezi]

Criminals are almost everywhere. Finding criminal in bitcoin isn't a new thing for us.The main point is finding way to stop them. We know they can attack at any time so for this we have to get ready. Like bank robbers can attack any bank, and bank arrange some security for its safety. We have to do same with bitcoin. It can only possible if government involve with it. But since bitcoin is tax free so its hard for government to work with btc.

That is the fear of some governments. Bitcoin is easily used by bad guys to run their actions. While the government can not control the bitcoin in full. We can not blame it, it was a decision taken as a preventive action, so some governments banned bitcoin.
In fact, there are many great benefits waiting to use bitcoin more wisely. So, basically, it's all back to each other's personality. It should be used for good, not crime.