pugman
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Merit: 1551
dogs are cute.
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October 11, 2017, 04:45:22 AM |
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Bitcoins has regained its strong value, As of this posting, the value per 1 bitcoin is exactly 4786.59 US Dollar. Soon we will see more ways people can squeeze the most out of bitcoins. Since the advent of the internet to be profit oriented in the 90's, no one would possibly have imagined that the Internet would breed Facebook, Google, Uber, online streaming, etc. This is where we are with the Blockchain now. There exists a whole world of opportunities out there.
These opportunities have the unrighteous users of this cryptocurrencies to also used its advantage. We cannot deny for a fact that cyber crimes have been committed since the birth of the internet. Once, stealing was done with having guns, now, robbers can easily hack bank accounts or counterfeit credit cards to their advantage. Sooner, cryptocurrencies can be used to pay crimes such as services for creating counterfeit birth certificates and this is not far from happening. Actually, the US has already cases on this matter.
Another is the crime of buying illegal-drug emporium that used Bitcoin as a medium of exchange, politicians and policymakers took notice. Criminals, it turns out, really like bitcoins, which can be exchanged for nefarious purposes on the "Dark Web," with complete anonymity and, it seems, impunity.
Although, there are some articles that i have read regarding criminals cannot hide behind bitcoins, still, there are difficulties tracing transactions using cryptocurrencies. That is why law enforcement agencies should have a to change their procedures to pursue criminals who make use of the latest technology to commit crimes. Let the law find a way to evolve to address new tech challenges. There is no reason to expect that law enforcement won’t be able to get a handle on this new cybercrime.
Yea no shit people will use it as a leverage to make illegal transactions and convert it to white money. That's how bitcoin got a bad name in the countries point of view. Icos made it even worse. Illegal transactions will be there for ever and there will be a need for strict action to be taken by the government to solve this issue. |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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kimpena
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October 11, 2017, 04:52:20 AM |
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Yes, nowadays it’s being used in crime, they buy and sell online and pay by bitcoin. Because it’s untraceable. So police can’t get clue to caught them. I think it’s dangerous.
This is really dangerous. How smart criminal people are, that they use bitcoin for crimes. It is sad to say that there are people like this, bitcoin is a greatest thing that you can have, why they are using it in crime, or maybe they are uaing it to buy drugs, which is possible. Well, now I get it why government are not in favor of bitcoin, because it is untraceable. If there will be a solution for this, hopefully there is, it will help the community of bitcoin, to avoid this things which is not good for us. Maybe, one day, if it crimes using bitcoin becomes worst, there's a big a chance that bitcoin will be banned worldwide, but I'm praying for it not to happen. Bitcoin already helped many of us, and may it continue helping us for many years that will come. |
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subSTRATA
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Merit: 1043
:^)
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October 11, 2017, 04:56:58 AM |
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this one is the biggest disadvantage of bitcoin that it is being used by criminals to do illegal activities like money laundering and trade of illegal stuffs.
people use dollars for the exact same thing; i dont think the neighborhood weed dealer is really going to ask for bitcoin over a good 20 dollar (or whatever currency you use) bill. same thing with larger deals, in fact, its probably much harder to trace a suitcase full of paper money (assuming there isnt a tracer on it or anything) over a pseudoanonymous transaction made with bitcoin. there is no possible way to trace that suitcase, aside from reading individual serial numbers of the bills, and even then you would have to know what serial numbers are contained in that suitcase full of money. with bitcoin, the transaction is right there o the network for everyone to see. you would know exactly which address sent exactly how much money to another exact address. its just a matter of linking those addresses to a person and the transaction to what deal was made. |
theres nothing here. message me if you want to put something here.
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pandanaran
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October 11, 2017, 04:58:04 AM |
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All currencies can be used in crime, currencies like fiat, cryptocurrency and other valuable items are tools, this case is not new to me, and the result depends on the holder himself, the advantage of cryptocurrency itself is our identity when doing the transaction is safe so no self-data required.
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siti25
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October 11, 2017, 05:02:08 AM |
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Of course there will be many criminals who use Bitcoin because Bitcoin has an advantage for us, one of them is to keep our identity secret, it is obviously used by criminals to make buying and selling online and they can pay and receive goods safely because their identity is not published. Maintaining their identity is a top priority for them.
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Chairul Muttaqin
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October 12, 2017, 01:09:36 PM |
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Yes, nowadays it’s being used in crime, they buy and sell online and pay by bitcoin. Because it’s untraceable. So police can’t get clue to caught them. I think it’s dangerous.
It would be the biggest problem of bitcoin because lot of criminals will make a way to scam other people with the use of bitcoin. Buy and selling drugs is more problem because bitcoin is unttaceable. trade drugs is very bad, every country in the world give hard efforts to stop this kind of criminal but people use bitcoin for drugs transaction. how terrible it is, moreover now many services mixing bitcoin to erase the historical transaction it could make more bad. |
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iamzill
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October 12, 2017, 01:29:22 PM |
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for the time being I do not really know bitcoin for crime may not bitcoin just to commit a crime.it also depends on people who abuse.kalau even for crime it's legal and government
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beatleap
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October 12, 2017, 01:33:01 PM |
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well fiat is also used to do illegal things. so I don't think this is a valid put down on bitcoin as every currency in the world is used in crime. you could argue fiat as been used more due to the amount of people who use it compared to bitcoin.
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i287853
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October 12, 2017, 02:04:58 PM |
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this one is the biggest disadvantage of bitcoin that it is being used by criminals to do illegal activities like money laundering and trade of illegal stuffs.
people use dollars for the exact same thing; i dont think the neighborhood weed dealer is really going to ask for bitcoin over a good 20 dollar (or whatever currency you use) bill. same thing with larger deals, in fact, its probably much harder to trace a suitcase full of paper money (assuming there isnt a tracer on it or anything) over a pseudoanonymous transaction made with bitcoin. there is no possible way to trace that suitcase, aside from reading individual serial numbers of the bills, and even then you would have to know what serial numbers are contained in that suitcase full of money. with bitcoin, the transaction is right there o the network for everyone to see. you would know exactly which address sent exactly how much money to another exact address. its just a matter of linking those addresses to a person and the transaction to what deal was made. i agree that there isn't much difference between the use of bitcoin and fiat. The transaction and transfer of funds might be a little different due to bitcoins anonymity but the actual products are still being traded physically. |
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ropyu1978
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October 12, 2017, 02:11:40 PM |
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criminality in the internet world will always be there.
wherever there will always be crime included in bitcoin, money laundering is the main mode.
so I think as long as humans exist during that time evil will never be destroyed.
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MelisaMoris
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October 12, 2017, 02:14:07 PM |
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and in terrorism also
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derdk
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October 12, 2017, 02:20:29 PM |
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all things can be use for crime.
and bitcoin give big chance to criminal, helping for their supply of funds.
and people that still use bitcoin in country that not legalize bitcoin, its criminal.
but im sure people around here use bitcoin for good stuff
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Ucy
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October 12, 2017, 03:08:43 PM |
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If I were a drug dealer I would rather use my local currency to purchase drugs than use Bitcoin.
Mark my words, regular criminals would prefer the use of physical cash which is untraceable to commit crimes than the not-well-understood Cryptocurrency. As I speak to you thousands of criminals are buying hard drugs and other illegal substance with your local currencies... why? because they are more anonymous than Bitcoin. So let's stop pretending like Anonymity just started with the coming of Cryptocurrency. Anonymity by the way is God given rights. No tyrants can take that away from us humans.
If you want transparency, then the whole society, including the government & Military must become or be forced to be TOTALLY Transparent.
THE MODEL OF DEMANDING TRANSPARENCY FROM CITIZENS WHILE THE GOVERNMENT REMAINS OPAQUE IS TOTALLY CRAZY, UN-NATURAL AND DANGEROUS.
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AntonAnton
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October 12, 2017, 03:29:41 PM |
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In my opinion this is well known. Because bitcoin can not be traced and determine the face. For this reason (at least officially), President Putin spoke about bitcoins in this way.
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Risktaker31
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October 12, 2017, 03:31:40 PM |
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Its an old news by the way. I see that in silkroad a couples of years ago bitcoin was used as a payment method for buying drugs and other illegal drugs . Thats is not new that bitcoin is being used by the crime syndicate because they can easily buy anything because of bitcoins animosity.
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maokoto
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October 12, 2017, 03:32:45 PM |
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Yes it is used in crimes a lot. I guess cash is also used a lot more.
In fact, crimes are about getting money and Bitcoin offers more anonimity.
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azmiupb
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October 12, 2017, 03:33:19 PM |
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Yes, too much scam. Always becareful
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Reid
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October 12, 2017, 03:35:10 PM |
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Everything in this world have pros and cons, this one is the biggest disadvantage of bitcoin that it is being used by criminals to do illegal activities like money laundering and trade of illegal stuffs. A big hurdle for government is to restrict these criminals and arrest them because transactions are anonymous and it is difficult to locate the criminals from it. BTW after regulation of bitcoin and taking additional measures it is expected that these things can be controlled in future.
And it seems like they have a hard time doing it. The only one's who are getting arrested are those website wallet owners or trading website companies. It needs help from the bitcoin holders itself. We are the ones who are being offered to sell our coins in a much better price just so they could do their illegal stuff. |
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Addimic
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October 12, 2017, 03:37:32 PM |
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Since i remember - Bitcoins have been used to buy drugs in OniontTor network.
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Vendetta666
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October 12, 2017, 03:41:32 PM |
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Yes it will happen because bitcoins are also kind of money. And it's a huge advantage for bad people because they will not be caught by the police. How to find the names of these and where they live if bitcoins are decentralized. It is sad to think but bitcoins are used to the evil but we can not do it because we do not know what's happening
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