Bitcoin Are Now Used in Crimes

[Jake052478]

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.

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[jakirtanvir]

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.

[betudontbet]

Bitcoin was , is and will be used for illegal pourpuses their entire life. You havent heard about the now sized Silk Road black market  ? Were you was able to purchase drugs, hire assasins and another bunch of things like buying guns, slaves etc...

[Ch1bi]

Bitcoins have always been used for crimes. You can look back and see for yourself ie. Silkroad. I doubt that's going to change anytime soon, but that shouldn't be a reason for people not to accept Bitcoins. I see people who make this argument all the time. You can make the same argument that USD has been used for crimes, but that doesn't stop people from not using it.

[Yuhee]

Bitcoins have always been used for crimes. You can look back and see for yourself ie. Silkroad. I doubt that's going to change anytime soon, but that shouldn't be a reason for people not to accept Bitcoins. I see people who make this argument all the time. You can make the same argument that USD has been used for crimes, but that doesn't stop people from not using it.

Crimes are now being smart in many ways. Because this is one issue why some government are having doubts on adopting bitcoin. In a way we all are making illegal transaction because bitcoin is virtual. And if the government can't control it, they will just acknowledge it as illegal. Bitcoin is becoming a multi-million dollar investments and there are more internet protocols to be followed than before.

[Athreos]

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.

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.

[vandvl]

maybe yes some people use this bitcoin for there crime because you can pay them without your identity... i think some criminal in deepweb using this bitcoin..

[CriptoIngresos]

Since Bitcoin was the first digital currency on the web it has been linked to criminal activities and this is not a revelation. Bitcoin will probably be used for criminal activities in the future as well, as some of the users already said Bitcoin is not completely untraceable meaning that you can still be traced if you are not careful what you post online.

About the deep web and similar criminal websites, they are using a lot of other cryptocurrencies now as a form of currency, Monero is an example of it since it has better private features than Bitcoin, and in theory it's completely untraceable.

There has been a lot of threads pointing out how Bitcoin has this reputation of being used in criminal activities but there's no real way to solve this without sacrificing some of the privacy that Bitcoin provides, and if you're worried about criminals using Bitcoin they are already migrating to other cryptocurrencies that have even more anonymity which really doesn't solve the problem. At the same time though, FIAT money has been used and will continue to be used on criminal activities as well, that's a trait of all currencies, not just Bitcoin.

[erickkyut]

Since Bitcoin is decentralized and can be used without proper identifcation, it has been used in crimes eversince it was created. Let's not judge it because of that. Let's look on the brighter side. Bitcoin is now giving hope to people and helping them to reach their dreams. It is teaching us the alue of investing.

[drm]

While we're at it, cash is also used in crimes, so are credit cards, knives, gloves, baseball bats etc.
I guess you get the point.

[btc-facebook]

It's inevitable especially in this digital era since bitcoin have an advantage that can be use for criminal so that why my government still not want to legalize bitcoin yet
Just hope that every country already aware of this bad side effect on bitcoin and they can prevent any criminal things because of bitcoin transaction

[suride212]

Many public misconceptions about the abundance of Bitcoin use by criminals, but the thinking is wrong thinking. This thought is caused by many people who consider Bitcoin anonymous, while Bitcoin strongly opposes it - all transactions Bitcoin transparent and everyone in the world can see the ongoing Bitcoin transaction. People may not be able to connect certain individual identities with Bitcoin transactions directly (this is why Bitcoin is sometimes called anonymous pseudo), but if they find it, they can see all the transactions you have done on the Bitcoin network. This is why Bitcoin is the wrong way if you use it for things that are not true.

[no0dlepunk]

This isn't new after all... But didn't you think that most crimes used fiat rather that cryptocurrency? Anyway, crime and terrorism is here to stay, those were reality in this world so couldn't we just refrain from associating those with bitcoins?

[Gaff]

Bitcoin was , is and will be used for illegal pourpuses their entire life. You havent heard about the now sized Silk Road black market  ? Were you was able to purchase drugs, hire assasins and another bunch of things like buying guns, slaves etc...

Normally,bitcoin is used for basic commodities but there is a possibility that it could be used for illegal purposes. The reason is that if people have already earned a lot of bitcoin then they can easily cashed out money and no wonder they'll become more powerful and if they have enemies, they can think of possible crimes. So far there's no real issue for that this time. It may exist but most of the people from here think and use it in a better way not for crimes.

[TagaMungkahi]

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.

It has been used, currently using and always been used on illegal transaction. Bitcoin's reputation is getting better, we cannot stop this kind of transaction but as per the article that i've read a blockchain officer (maybe) said that illegal transactions have been decreasing over the year ( i don;t know how that person said that without investigating), since you can track transactions at the block chain that's why i think they can monitor these kind of illegal transactions.

[kriticko29]

Bitcoin can be a source of crime. Due to many people post most of their bitcoin accounts online they can be targeted by those who are desperate to earn bitcoin quickly. It can also be used as a way of payment for some illegal tradings and can't be tracked by the government.

[squatz1]

This isn't new after all... But didn't you think that most crimes used fiat rather that cryptocurrency? Anyway, crime and terrorism is here to stay, those were reality in this world so couldn't we just refrain from associating those with bitcoins?

This right here.

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.

Dumb OP.

[BitcoinPanther]

Bitcoin was once used in illegal stuff so this kind of news is not news at all.  But these people in the darkweb found out that Bitcoin is not completely anonymous so they are moving to a more unanimous coins like monero and other stuff.  I do not think that using bitcoin in illegal stuff can be avoided, even the fiat currency were used in such activity even though it is regulated by the government.

[X7]

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.

Untraceable? this is just a fallacy... a briefcase full of USD is untraceable - a blockchain literally has a clear trace of all funds sent from address to address - that is half the puzzle and more efficient for law enforcement than USD ever will be.

[ttt111]

yes...this is not new... they do transfer while being unnoticeable.