Bitcoin on Drug Trade

[coinholic]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

[1714751587]

1714751587

[helars2008]

Of course it can be....
Everything in this world can be used for either good or evil...
Btc maybe a way for others to earn a living in a leagal way..
But we cant deny the fact that there are people out there who will see this as an opportunity to conduct their illegal activities..
Especially since dealing with cryptocurrency can be done anonymously...

[TeejayTJ]

It had been used for years now but not until recently it became famous. Here in the Philippines, you can buy bulks and kilos of drugs without the risk of being caught by using crypto currencies or other third party payment apps like paypal or exchange sites.

[superplus]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

Of course the elites use it but not all elites, if all elites use Bitcoin I think Bitcoin prices will rise high.

[criptix]

Dark markets

[Karmakid]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

I haven't thought about this, but maybe this is possible, almost all elites are aware of cryptocurrency and I think it's possible they are using this for their transactions. Just imagine it's less hassle and it's easier to transfer money through bitcoin. So, it's really ideal to use bitcoin for this kinds of transactions.

[aleksej996]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

It might depend on what you consider "elites". I believe that certain vendors on dark markets became quite rich and in a way, became the new drug cartels. I assume that there will be new cartels popping up from the dark markets and that the old ones start using the dark markets.

[SinLinJim]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

Bitcoin has great value now. And it is quite likely that he attracts not only dopooporjadnyh people, but also criminal structures. But bitcoin is not to blame for this. This is just an instument, the same as the dollar

[shinchan123]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

Well, this makes sense, I think it's safer for syndicates to transact their dirty business through cryptocurrency trading or transactions. Less hassle and it's safer for them. They wouldn't worry about police following them when transacting or paying/receiving their money from their clients.

[Beerwizzard]

Btw last time Dashcoin is becoming more popular in deep web Anyway most of the estemates of the BTC drug market were small af. It is usually less than bitcoin's daily cash flow so it is not a big problem. At least not yet

[Sithara007]

It had been used for years now but not until recently it became famous. Here in the Philippines, you can buy bulks and kilos of drugs without the risk of being caught by using crypto currencies or other third party payment apps like paypal or exchange sites.

The advantage with the dark markets is that they are quite anonymous and safe. You don't have to go to the street, in order to get your daily dosage of weed. But at the same time, this method is not 100% risk-free. Occasionally, cops trace the buyer using the delivery address.

[gabmen]

Since the cryptocurrencies, particularly the Bitcoin, has provided such a convenient way of trading and transacting basically anything, can we assume or speculate that it is now being used by some "elites" in the drug cartel? c",)

Well i think we're certain that it would be utilized as well. Bitcoin has everything that drug cartels would hope for to have smooth and safe transactions.

[siddartha1492]

We can not assume, we can be sure, that elites are using the Bitcoin or other cryptos for drugs trade. No matter how much we sing songs for Bitcoin, but the dark truth is that it does give much more power to the bad people too. Trade drugs, weapons and even people with cryptos and you are almost invisible. Crypto community has to find a solution for this, or it will harm us only in the long term....

[whoisyourking]

this topic makes me think that bitcoin or any currency is already uses in trading drugs or in any illegal transaction online..

[Risktaker31]

Yeah its possible that bitcoin or other cryptocurrency can b used in illegal drug trade because of its anonimous and safe to buy any illegal items or weapons.

[n4poleon]

Sure, it is money after all. Money is a tool and everyone is able to use will use it. And that goes with any fiat currencies.

[bryant.coleman]

this topic makes me think that bitcoin or any currency is already uses in trading drugs or in any illegal transaction online..

Well, that is the truth. In 2011-2012, As much as 20% or 25% of all the Bitcoin transactions were drug-related. Now this proportion has declined to less than 2%, mainly thanks to the rise in the exchange rates. Also, a lot of the dark markets have closed down, including Silk Road, Silk Road 2.0, Agora, Alphabay, Sheep Market Place, and Hansa.

[carlisle1]

just same question with if bitcoin already being use in a illegal transaction, as far as I can see this already exist since bitcoin already been popular with digital industry so even drug elite got an idea about decentralized currency so they will take advantage on it.

[aleksej996]

We can not assume, we can be sure, that elites are using the Bitcoin or other cryptos for drugs trade. No matter how much we sing songs for Bitcoin, but the dark truth is that it does give much more power to the bad people too. Trade drugs, weapons and even people with cryptos and you are almost invisible. Crypto community has to find a solution for this, or it will harm us only in the long term....

Drug are really not that big of a problem in the world, it is only a problem when it is illegal. Legalization is probably the future that awaits us. Weapons are also quite at large legal in USA. A lot of these things fit with the idea of Bitcoin as people's right to be free from governments. There will still be other things that are actually really dangerous, but they will always be a very small minority of the trades. And Bitcoin mainly brings privacy to the people in a huge group, not the individuals that already had to figure out the more covert ways. With the Panama papers we saw that the rich already have a way of to anonymously send and store money.

[BillyTalent]

Sure, it is money after all. Money is a tool and everyone is able to use will use it. And that goes with any fiat currencies.

I agree with you. Bitcoin can be equated to money, and therefore use them not only for good purposes, but also to harm people. But the currency is not to blame for this.