Bitcoin Are Now Used in Crimes

[Chairul Muttaqin]

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...

it is actually happen in the nowadays and it is increasing possibility of someone do crimes so badly. but it could prevent by users it selves that we must not use bitcoin for legal activities only. change our mindset about bitcoin identical with crimes.

[jtipt]

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.

Yeah  Untraceable is the wrong word to use here, maybe anonymous if done rightly, but it isn't untraceable. But untraceable or not BTC will still be used in illegal activities because it's decentralized and can be used all around the world.

[hitrawal91]

Yes Everyone knows that bitcoin is decentralized digital currency which does the transactions with Anonymously, which in turn indicates high chances of crime to take place online and offline . I cant forget the GLOBAL CYBER ATTACK BY RANSOMWARE VIRUS which remind us that crime has reached to new levels. The Ransomware which is a malicious software that blocks the computer system until a sum of money is paid to the Hackers. I still remember because many govt and private banks declared holiday on that day.

[razzbee]

Bitcoin is not fully untraceable now, imagine now every exchange is required to take KYC of users in China,regulations and new laws will continue to come to make btc and other coins  traceable at least 80% on the scale of 100%.

[monkeydominicorobin]

Currency like Bitcoin which is being used in crime is not an argument. Bitcoin is non-discriminatory. It does not screen  people who will use it. It does not shun anybody from using it. Dollar is being used in crime as well. But are we talking about it? No. Why? It is not relevant anymore. So Bitcoin is not at fault here. Bitcoin is not for crime. It is for transaction purposes only. Period.

[smartbitcoininvestor]

One of the first uses of Bitcoin was to be used in drug crimes. Back in 2010 Silk Road dominated the marketplace for Bitcoins back when they were $1-$2 a pop. People were essentially buying Bitcoins for the sole purpose of the Tor Network. The only transactions taking place were those on the Tor network which is where a lot of shady stuff happened. Eventually, the authorities cracked down on the perpetrators of Silk Road and many buyers of the drug ecommerce store as well. It wasn't until more sophisticated apps, developers, and businesses started adopting Bitcoin is when it stopped being used for crimes.

Overall, it seems quite obvious that Bitcoin will be used in crimes from now until the end of time. But that's definitely not the only use 

[iamTom123]

Specifically attaching many crimes committed with the use of Bitcoin seems a little bit UNFAIR because there is no currency in the whole world which was not and will not be used in criminals' activities. We always have to remember this fact:

ALL CURRENCIES IN THIS WORLD HAVE BEEN USED IN CRIMES WITHOUT EXEMPTION WHATSOEVER!

[/b]

It just so happened that since Bitcoin is the newcomer to the currency family and is in a different format, people are noticing it and now the  media is always highlighting it as something novel worth of watching especially because its value have been surging for the past many months.

Is there anybody here who can claim that the US Dollar have never been used in crimes? of course not! Should we then blame the dollar for those crimes committed by ill-intentioned and deranged people? Of course, not!

Should we blame and control Bitcoin just because there are criminals who are using it to their advantage? The logical answer will always be no! What the authorities do is to run after these criminals because even if they are using the dollar still they can commit the crimes they are planning to do.

I am in fact relieved that the man involved in the latest shooting incident in Las Vegas did not use Bitcoin to buy his gun, bullets and other ammunition...in fact his pizza was not paid in Bitcoin. Had it been...then it can be a blackeye again for Bitcoin...

Such an illogical world we live in!

[kpcian]

this is the function of money, you can use your money in every purpose whatever you want, so Not only Bitcoin but also all short of currency may be used in the crime purpose. you can't control it because you can't track those people who are doing such type of activities.

[BrewMaster]

first of all bitcoin is money so just like any other "money" it is being used for many different things. from being traded in Forex-like market to buying a cup of coffee. and obviously like fiat it will be used for "crimes" too.

but saying it is being used and pretend that is all the usage only shows that you never did any research and are talking emotionally.

[patrickj]

Yes it is. Many fraudulent acts are now being done by someone using bitcoin. Maybe some is used by druglords and others that scams people. This is why we have to be careful doing transactions to others.

[AGD]

1. FIAT money is used for crime, too (and it is more anonymous than Bitcoin)
2. Bitcoin is NOT anonymous

[UCHCHILD]

Yes, buc is used for crime nowadays, even before it was already used especially in blackmarket, the number obe thing I guess that bitcoin is use is in drugs they pay in bitcoin so they will not be track if transaction is caught by the officer or cop. This is why bitcoin is not use in some countries they ban it because they knew and tgwy can sense that people in their country will just use it for crime and be a threat to them and it will be hard for them too to see and look who the suspect for the crime is.

[Juggy777]

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.

So btc is being used for crimes, hey wasn't Fiat being used to be used? No one came to complain that Fiat is being used for crimes, the authorities did nothing, and suddenly Bitcoins come and they loose their mind, why cause they are not earnings any taxes from it, and most of this crimes are definitely sponsored by the banks and other institutions who are running scared, I would say 95%, and for the 5% yes people may have found a way, and it's natural but what about the fact that millions have beneficted from bitcoins no one ever speaks of that.

[galestorm]

Im not surprised at all. Bitcoin is another form of money and when people get their hands on it there's no telling what they'll do or what they'll spend. Bitcoin can be used in buying illegal stuff online like guns and bombs or they can even buy drugs and the like. bitcoin is accepted as payment especially in the deep web / blackmarket. Things like these are then associated with crimes.

[SyGambler]

this isn't new at all , bitcoin was used for illegal purposes since the beginning but this is not what bitcoin can only do
the market cap is still climbing and I really doubt that an 80 billions dollar cap is being used for crime
the media should get over it and know the positives before the negatives , yesterday I was watching a local media channel called Al-Mayadeen and they were talking about bitcoin
what I liked about the show yesterday is that the middle east media started to understand that bitcoin isn't only being used for buying weapons and drugs
the host said that an 80 billions dollar market means that people really like it and most of the coins are being held by investors not criminals

[qwertyup23]

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.

I mean, what's new? Given the fact that bitcoin's nature being decentralized, it is without a doubt, the perfect opportunity for individuals to illegaly transact under the dark web since they know that it'll be hard for government agencies to track them down. Another thing, abusers will always find a way to purchase illegal drugs even without bitcoin's existence, it just happened that bitcoin is the pefect medium for their transactions. This is primarily the reason on why some countries ban the usage of bitcoins in order to at least lessen their drug probelm.

[Ararbermas]

Yess mate your right that's why bitcoin cannot be  legalized in all countries because it has a dark side such as crime they using bitcoin for illegal activities which is they can buy anything on it for examples drugs or any illegal transaction  using bitcoin.  Maybe they using this currency beacuse they all know that no one can track them even police . Cause using bitcoin on their transaction is safe to hide their identity.

[pawanjain]

There have always been good to destroy the bad. Its just a matter of time until the law enforcement could find a way to tackle this situation.
Bitcoin and crypto currencies had been made for a good cause but since the world is also filled with the bad guys we cant accuse crypto currencies for the bad that is happening. Cyber crimes were being done all the way from the beginning and it is the law that must be improvised in order to fight the crimes. You got situation ?-find a way to tackle it, not accuse the reason behind it.

[franco123]

Yes it is and this is because it is an easy way to clean a dirty earned money, money laundering is the right term. Money laundering is defined as a way to make it look that a money earned from illegal activities are clean money. The ways they do this is by turning their cash assets into a different assets like real estate, stocks, cars and other expensive properties. And now, as bitcoin being accesible to be bought in just few clicks from your device, it is a good option for the criminals to utilize it for money laundering.

[Indrawan77]

This is not the first time people complained about bitcoin can be used for criminal things and it is something cant be avoided, and I agree there should be a new way to track and to catch the criminal, now the technology has been inproved so quickly, so the law enforcement really need to step up to handle this problem

And we can only encourage people to not used bitcoin for bad things and double up our account protection, the rest of it, will depends on the person and law enforcement to handle the problem