Bitcoin Are Now Used in Crimes

[Giebaymax]

at times like this are many who take the opportunity to use bitcoin as the main tool in committing a crime and somehow I can never imagine with people like that when we can get bitcoin without having capital.

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[cozk]

USD is not ?

[CryptoWorld87]

I think yes because bitcoin is decentralise everyone can use bitcoins and no one can freeze your money bitcoin transaction is on public but you cannot trace the people who are using bitcoin thats the reason why they use it and also fast transaction

[ismart1]

Indeed, Bitcoin can be used for crimes. Things of worth will be utilized as currency on the lawful and the black market. Same goes for precious metal, cash, vehicles, drugs you name it.

Why nobody tries to ban diamonds, gold, cash and so many other currencies that have forever been used for illegal purposes since when all these currencies have a name tag on them, they are legit values, very anonymous and in some cases very easy to carry and hide. The fact that some authorities pick on bitcoin is simply because of lack of control from them and form the banks, has nothing to do with criminal activities. Is it easier? Maybe, all transaction are open in the ledger, are public, so the old motto still true, follow the money and you find the owner.

[wulidada]

It is undeniable that bitcoin is indeed used by criminals because bitcoin is anonymous, so criminals trading in bitcoin can not be traced by the government. This is also one of the reasons some countries prohibit bitcoin.

[cryptolit]

As is fiat. All currencies will be used for crime, it can't be to blame.

[popo0709]

that is one big disadvantage of bitcoin and a reason why other countries do not support bitcoin.it is easily been used in illegal purposes like having large amount of money to fund illegal activities without being noticed since it is not being traced like banks.

[John Langut]

that is one big disadvantage of bitcoin and a reason why other countries do not support bitcoin.it is easily been used in illegal purposes like having large amount of money to fund illegal activities without being noticed since it is not being traced like banks.

Bitcoin has a public ledger, how is that not traceable?

[amaljinadasa]

In recent there is a virus for android smart phones. The virus corrupted the data in the phone and they are asking payment for recovering the data.They asking send money to their Bitcoin account.Because nobody cannot know who is the owner of the account.

[Xester]

It is undeniable that bitcoin is indeed used by criminals because bitcoin is anonymous, so criminals trading in bitcoin can not be traced by the government. This is also one of the reasons some countries prohibit bitcoin.

I agree with you that bitcoin is used by criminals to do their criminal acts.  Because as you said, transactions made under bitcoin are anonymous as you do not need to include or disclose your identity or information.  But, even if bitcoin still not into existence, criminals do whatever they can just to execute their evil plans.  It just made more easier for them and untraceable because of cryptocurrencies especially bitcoin.

[kaloloy]

ISIS has been noted that they owned a lot of Bitcoin to buy supplies and firearms so yes, it is indeed used by criminals to avoid government authorities to track their evil works.
Not only criminals but also used by rich people to avoid tax evasions by their government, using Bitcoin to eliminate these tax collection from the government will give them freedom on how they their fortune using Bitcoin.

[AMHURSICKUS]

Bitcoin are now used in different kind of crimes like scamming. Now that bitcoin price is rising all scammers are using all the ways to get bitcoin. It also used by rich people to hide their money to avoid paying their tax and it is also used for transferring money by all illegal business. That's why not all country are accepting bitcoin.

[Scorpion]

You would be surprised what sort of things can be used as means for exchanging money for facilitation of criminal activity. One example is diamonds. People think diamond are a symbol of love and pureness, but there are powerful people that practically control the industry and have slaves who mine diamonds at the bottom of the system.

[heidybarted]

Well you said, every technological advance has been used to commit a crime. The BTC is the preferred currency of the big criminals of the world, not only for drug trafficking, it is said that human trafficking and large prostitution networks rely on this virtual currency. Now, his movements are almost imperceptible. Definitely, justice needs to be as cunning as cybercriminals.

[FLUZFLUZGLOBAL]

USD is the biggest currency used for illegal stuff. Online and offline. By a huge margin. Should we ban the USD?

[Vaskiy]

You would be surprised what sort of things can be used as means for exchanging money for facilitation of criminal activity. One example is diamonds. People think diamond are a symbol of love and pureness, but there are powerful people that practically control the industry and have slaves who mine diamonds at the bottom of the system.

Diamonds were completely a asset based criminality. Other than this gold, USD, were used much on illegal transactions and for criminal needs. Recordical data shows USD being much used on criminal activities. Recently bitcoin too has got added to the list. But this is not much used compared to USD.

[Kadal Ijo]

This is a dilemma, bitcoin is very safe, practical but anonymous, we never know who is doing bitcoin transactions, I hope the wallet provider can verify the users so it can know the users.

[tam31]

Bitcoin is always used for crimes it simply is impossible for the government to see where you got that money from so they can´t do anything about it. They can´t even look in your wallet.

I think that there are a lot of criminal groups using bitcoin to legalize their money that they have stolen. Thats why you see that there are a lot of scammers stealing your coins simply because you can't see who has stolen you. You can get the adress maybe, but you can never block a adress from bitcoin.

[rb26]

Anything that has value can and will be used in any crime. And btc has been used in multiple crimes such as money laundering, drug trafficking, hiring professional killers and more other crimes. We can't do anything about it and we cannot stop it. Just like we can't stop them using cash in their crimes. We have to accept this fact. What's more important is we are responsible on how we use our coins.

[SoakedLemon]

it's quite common knowledge that bitcoin i especaliy prone to crime, such as cash laundry, illegal arms industry, drugs, black market, etc. that's one good reason why some countries don't legalize bitcoin.ls