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Genemind
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October 16, 2017, 11:27:23 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.
This idea doesn't surprise me at all. I mean, a bad person can use anything for crime. Even a broken bottle. If a criminal can use a money for bad things, I believe that he or she can use bitcoin as well which is sad. |
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"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
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xiboothrezi
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October 16, 2017, 12:19:56 PM |
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it is common knowledge that bitcoin is particularly prone to crime, such as money laundry, illegal arms trade, drugs, black market, etc. that is one reason why some countries do not legalize bitcoin.
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Trivelius
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October 16, 2017, 01:23:30 PM |
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That's how Bitcoin became known by public. It was first used in Deep web to purchase illegal things/activities. And now it was introduced to the public. Because of its anonymity feature, no one can't track the identity of the user/owner. Because of that government are worried that Bitcoin may use by criminals in money laundering. Actually, on this time that is possible that those criminals are already doing money laundering.
There are a lot of people who used bitcoin for crime and which is really bad and effect the importance and value of bitcoin also, because if bitcoin started using for crimes then people wil scared to invest in bitcoin and then the price will goes down very soon, that’s what I want to say and I think when the bitcoin get started then also btc started using for crimes. |
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IanRidgwell
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October 16, 2017, 01:24:25 PM |
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i think bitcoin is used in crimes for few years ago because its easy to them to make transfer in bitcoin than using the money and they should not worried with anything that will happen. i remembered a movie title "hacker" (if i am not wrong) and in that movie, i see the bitcoin is transfered to other people and imagine maybe its like that when someone is using bitcoin for any of crimes. and maybe in out there too many crimes like drugs, gun and many other is using bitcoin too for the payment.
I am agree with you this is not the first time of bitcoin using in crime and negative works, people invest and earn bitcoin then using btc for smuggling, drugs and a lot of negative works they do but this will harm the trust of bitcoin about bitcoin and after that people will started hating bitcoin and will feel danger. |
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kenkoy
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October 16, 2017, 01:38:06 PM |
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The first time i read about Bitcoins when i was still skeptical about it, the issue is Bitcoin was being used by drug cartels on certain transaction because of its anonymity. This issue has been flagged by some of potential investors. Though, this may not be confirmed. It still put some stigma on newbies to Cryptocurrency. However, the popularity of Bitcoin has overcomed that issue.
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Lieldoryn
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October 16, 2017, 01:43:58 PM |
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The first time i read about Bitcoins when i was still skeptical about it, the issue is Bitcoin was being used by drug cartels on certain transaction because of its anonymity. This issue has been flagged by some of potential investors. Though, this may not be confirmed. It still put some stigma on newbies to Cryptocurrency. However, the popularity of Bitcoin has overcomed that issue.
It seems to me that all these rumors spread by the government to explain their negative attitude to bitcoin. They can not say they do not want people to live well and their life is not dependent on the rules which establish the state via Fiat. I've seen a lot of videos of seizures from drug traffickers large number of dollars but have not heard that they have withdrawn bitcoins. |
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poldanmig
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October 16, 2017, 01:52:33 PM |
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The first time i read about Bitcoins when i was still skeptical about it, the issue is Bitcoin was being used by drug cartels on certain transaction because of its anonymity. This issue has been flagged by some of potential investors. Though, this may not be confirmed. It still put some stigma on newbies to Cryptocurrency. However, the popularity of Bitcoin has overcomed that issue.
it used to be a lot of people who use bitcoin as a crime. but the longer it seems the use of bitcoin as a crime is reduced. hopefully things like this do not affect the bitcoin over time. |
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dasdo
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October 16, 2017, 02:03:59 PM |
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Bitcoin technologies are far from perfect. They are anonymous, have a small commission and a high speed of transfers. This is good for scammers and those who are outside the law. But it's a matter of time. Each time the protection systems improve. There is a struggle between hackers and security services.
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Aura
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October 16, 2017, 02:04:52 PM |
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It's not new that Bitcoin is used for criminal activities.
Silkroad was created on 2011 and only accepted Bitcoin payments, which is 2 years after Bitcoin's release.
That with a lot of things, it's made with a good purpose but then criminals find a way to use it in their advantage.
You can't do anything about it, otherwise you damage the idea of anonymous decentralized peer-to-peer digital currency.
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joebrook
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CryptoTalk.Org - Get Paid for every Post!
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October 16, 2017, 02:10:33 PM |
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Well people were paid in cash for crimes too, bitcoin is just another currency. And why now, BTC rose with the darknet markets that sold guns and provided what all services. Still provide I think
Even when there was no bitcoins, crime was very rampant and criminals were still making money. People should stop attributing bitcoins for use by criminals alone because there are lots of people including myself who uses bitcoins for legit things only. |
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APICEMTECH
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Blockchain Just Entered The Real World
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October 16, 2017, 02:13:08 PM |
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Yes, bitcoin is used for criminal activities. But is there any currency of anything of storage of value that is not used for these activities? Fiat, diamonds, metals - everything is used by criminals.
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kirikmax
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October 16, 2017, 02:22:49 PM |
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When anything is price high, many more bad guy want to occupy it illegally. This is an evident in life.
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n0ne
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October 16, 2017, 02:25:06 PM |
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Well people were paid in cash for crimes too, bitcoin is just another currency. And why now, BTC rose with the darknet markets that sold guns and provided what all services. Still provide I think
Even when there was no bitcoins, crime was very rampant and criminals were still making money. People should stop attributing bitcoins for use by criminals alone because there are lots of people including myself who uses bitcoins for legit things only. Yes, even before bitcoin getting into usage crimes were happening all around. Bitcoin with its key features made some criminal activities to be done in a much easier manner. Based on the same media started to attribute bitcoin along with crimes. People should understand the goodness it can provide and should work accordingly. |
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chathushka
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October 16, 2017, 02:32:26 PM |
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Bitcoin is not entirely untraceable. Imagine your transaction history as an anonymous online profile. If you post enough personal information in the profile, it can still be tracked back to you even if it is anonymous. It's the same with tracking a chain of bitcoin transactions.
Any type of currency is going to be used by people in the wrong ways. If we wanted to ban all currencies that were used by criminals, terroisits, for corruput purposes, and so on and so forth. We'd be back to the times of bartering cause we'd have ZERO currency.
All currencies are used for malicious acts. The MAJORITY of things that these currencies are used for (including bitcoin) aren't malicious/illegal and they're just being used for normal day to day transactions. It's really common sense when you think about it.
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Cindy1983
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October 16, 2017, 02:34:25 PM |
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Yes it's but not only nowaday, it has been used in crimes for a long time when it became more well known. As you know Bitcoin is being used the most in money laundering and drug trafficking cause the transaction is really secure so it's hard to find out the owner of any transaction. Beside, when Bitcoin is not appear, if crimes want to make a deal they need to bring cash or tranfer from Bank and it's really easy to find out but with Bitcoin they just need to do few clicks and everything done and it's not easy to find out anyone did that. Do you remember what happened to Btc-e few months ago? It's a typical example for this case  |
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carlfebz2
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October 16, 2017, 02:36:36 PM |
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Well people were paid in cash for crimes too, bitcoin is just another currency. And why now, BTC rose with the darknet markets that sold guns and provided what all services. Still provide I think
Even when there was no bitcoins, crime was very rampant and criminals were still making money. People should stop attributing bitcoins for use by criminals alone because there are lots of people including myself who uses bitcoins for legit things only. Yes, even before bitcoin getting into usage crimes were happening all around. Bitcoin with its key features made some criminal activities to be done in a much easier manner. Based on the same media started to attribute bitcoin along with crimes. People should understand the goodness it can provide and should work accordingly. When it comes on popularity of bitcoin but on the negative side which was caused by media on where they do really always say such thing against bitcoin but we cant do anything about it since bitcoin can really be used in crimes since from the start while it was just starting knowing that bitcoin does have a value which means criminals would normally think to use this as a perfect medium for their operations because bitcoin does have the perfect feature to execute such thing. |
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barcanigga
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October 16, 2017, 02:44:18 PM |
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As far as I know, every currency is also used in crimes in any part of the world. As long as the currency has it's own value, criminals will use the most practical way to store / use their money. You can't say that if Bitcoins are used in crimes, then Bitcoin should be banned but what about other currency such as Dollar? Aren't they are used by criminals? Shouldn't they be banned?
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vltnqefi
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October 16, 2017, 02:52:04 PM |
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I agree with you, although reluctant to accept it, I have to say that there are a lot of transactions in bitcoin traders, such as the Silk Road website.
It is one of the base currencies of the dark net. I can only hope that the users of bitcoin will become more civilized and welcome this peaceful era.
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black014
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" SIMPLE BUT HARD WORKER"💪😁
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October 16, 2017, 02:52:28 PM |
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we can say that bitcoin is used in illegal activities because of the dark web, the darkweb sale of what is illegal like drugs, weapons and guns for hire or hitman so that bitcoin is illegal, but here it is forum is another purpose. we are different from those who use bitcoin in illegal activities for us bitcoin is blessing because we are having support for our daily needs
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AmXProX
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October 17, 2017, 06:21:01 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.
Of course more and more people will abuse because some advantage that bitcoin has over fiat. Its anonymity is a great advantage to be used on illegal trades, and more mixing the coins are now available which will make it harder to track the origin of your coin, It being decentralized, no need to explain to banks about the high deposits that you have and the source of it. Hard part of it is converting your coin to fiat, maybe they can formulate another money laundering strategy for it. |
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