pecson134
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October 15, 2017, 01:50:06 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.
In my opinion this is quite factual. Criminals would always find ways just to hide what they had in their hands regardless on how they hide it. I can call it a desperate measure for them since once they were caught with the evidence on their hands its all over. It is not different when buying some illegal merchandise on a discreet way without the government noticing their movements.
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Pettuh4
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October 15, 2017, 02:23:07 AM |
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yes they are using bitcoin in crimes and illegal stuffs because it is untraceable. they will use bitcoin to buy and to sell drugs, so the police or investigator cant get evidence or clue.
We shouldn't single out Bitcoin for a public backlash because all currencies whether fiat or cryptocurrency can be used by criminals to perpetrate crimes whenever they find it convenient and so I don't know why this is any news for discussion.
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Stedsm
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October 15, 2017, 05:14:33 AM |
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I have quoted OP below: 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. Already existed, even before the invention of Bitcoins. But since we were not able to find the few good investments out of the 99% scams, I think Bitcoin gained better values because it proved to be the best opportunity for everyone already. From a common man to an established investor, everyone invests in Bitcoins nowadays.
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. They are already being, you seem to be unheard of the recent ransomware attacks where they asked some established companies to pay the amounts in Bitcoins to save their protected data.
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. Impunity? I don't think so. Because Silk Road was one of the best examples to be found over the internet where they were caught under the money-laundering matters and all the coins were seized. As well as many others who tried to hack things were caught by Government's ethical hackers. Cybercrime is everywhere, so don't just target Bitcoins alone. There's still something good to eradicate all "wrongs". Stuffs like "hacking" could only be done in Bitcoins when you leave open loopholes as well as chances for them to get in, so it's easy for them to just run away with everything that was "yours" before.
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HiringYou
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October 15, 2017, 05:34:54 AM Last edit: October 15, 2017, 05:01:58 PM by HiringYou |
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The biggest disadavantage of Bitcoin is that some people use it in crimes .Bitcoin is used as a mode of payment in drug dealings, for buying illegal ammunitions and it is also used for giving ransoms to the kidnappers and hackers. Bitcoin system provides anonymous transactions which are very difficult to be tracked by governement that means the identity of the people involved in the transaction always remain hidden so that is why it is more secure for them to use bitcoin instead of fiat money.
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RavenHood
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October 15, 2017, 05:39:07 AM |
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In my opinion yes bitcoin can be used in crimes, because you don’t need a lot of information needed to buy something illegal in the internet, they can know your transactions but they can’t truly find you. It’s hard to find a person that is low-profile.
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28days_ever
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October 15, 2017, 05:50:09 AM |
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Well, this is not news, many understand that this is one of the methods to quietly support terrorism, including crime. And there are enough scammers, maybe that's why some countries make their own crypto currency or simply prohibit it. While this is a problem and is unlikely to be resolved.
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Visbay
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October 15, 2017, 06:24:54 AM |
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For shure they use and will for ever do,it´s untraceable and this is nice for weapondealers,etc.:
Well I think if someone is using bitcoin for bad purpose or for any crime so they are doing wrong that must be stop because if we see so bitcoin is working for humanity bitcoin change a lies of people it give a lot of knowledge to the people so there is no need to take wrong advantage from bitcoin but the fact is where in this world if here are good people so bad people are also there.
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supandi wiharja
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Earn crypto for being contacted
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October 15, 2017, 06:25:59 AM |
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In my opinion, the reputation of bitcoin is very bad in the eyes of the government because bitcoin is an easy target to use as a criminal tool. Cyber criminals use payment methods using bitcoin to tap their targets. They use bitcoin transactions because they are anonymous and can not be traced by the police. Bitcoin has become an idol of criminals in cyberspace, i think this is very dangerous and the world government must immediately overcome it.
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PalindromemordnilaP
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October 15, 2017, 07:41:49 AM |
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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 very true since bitcoin is decentralized and transactions are made anonymously using cryptographic signatures, bitcoin will serves as suitable vehicle to carry out illicit activities compared to carrying briefcases full of cash as what the Chief Economist of the IMF from 2001-2003, Kenneth Rogoff said. This is somewhat a new challenge of the government if it imposes its cryptocurrency laws in their country. This may also be the reason why China bans bitcoin in their country, IMO.
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jzale
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October 15, 2017, 08:42:46 AM |
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This has been present even at the earlier stages of BTC. Phising sites and scams are all around the internet and has caused lots of loses in bitcoin assets. Another is scam ICOs at the present. This has caused lots of losing money from investors and is still continuing to ruin the good purpose of BTC.
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StonedWolf
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October 15, 2017, 09:30:24 PM |
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Of course it is ! And this is thanks to its untraceability and its anonymous funds, for example when you hack something valuable and the persons who have this thing are very influential, you cannot negotiate it directly! and here is bitcoin solved this problem.
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Papsie
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October 15, 2017, 09:33:23 PM |
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Sad to say but it is true. It is true that some of the bitcoin users are making the bitcoin involve in their illegal activities. They are the one that making the name of bitcoin dirty. They involve it in their drugs activities.
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Visbay
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October 16, 2017, 04:49:00 AM |
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Well, every form of money is used in crime, cash, credit cards, any money. So we can't say that Bitcoin is the only one and that it is bad for that reason. It is not Bitcoins fault that criminals use it because it is untracable. Money is money and we can not stop it from being used for illegal purposes.
Yes its true everything has two aspects if you want to use it for bad things you can use it or if you want to use it for good things so you can use it also its simple like here in bitcoin also its actually money and it can also be used for bad and good things so my advice to the all of his users is to use bitcoin for good purpose not for bad because bitcoin work for humanity.
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Rajat97
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October 16, 2017, 05:16:47 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.
Bitcoin is a need of todays world. Bitcoin are mostly used by hackers. Hackers ask for bitcoins by blackmailing them. Recently there was a case about HBO hack where the hackers demanded huge amount of bitcoin in exchange that they would stop leaking their script and videous.
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Visbay
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October 16, 2017, 05:39:15 AM |
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Well, every form of money is used in crime, cash, credit cards, any money. So we can't say that Bitcoin is the only one and that it is bad for that reason. It is not Bitcoins fault that criminals use it because it is untracable. Money is money and we can not stop it from being used for illegal purposes.
Yes I agree with you if some are using bitcoin for crime it’s not a mistake of bitcoin it’s a mistake of criminals because if you study bitcoin in detail it teach you about trade, business, mining, etc. it change a life of common people around the world and bad people are also using other currency for crimes so I think it’s not an issue that bitcoin is using for crimes.
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denny27
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October 16, 2017, 05:53:32 AM |
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Yes indeed there are still some people there who use bitcoin as a crimes acts that can tarnish the good name of bitcoin as a digital currency that was supposed to be used for more positive things to gain profit. It sounds sad whenever I know that somebody has using bitcoin as a crimes acts, hopefully the number of people like this can be reduce until nobody doing it anymore.. to overcome this, it takes action from the governments that can be more controlling it I guess.
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Joshua101101
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October 16, 2017, 05:56:45 AM |
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And you thought, since the appearance of the network, fraud and aiding in crimes have already begun to develop, but here a whole area, and even uncontrolled, is just a sweet place for criminals. So some countries do the right thing, protecting their country from crime.
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Misshi
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October 16, 2017, 06:07:22 AM |
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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.
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Stac
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October 16, 2017, 06:13:21 AM |
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All the fiat currencies are used for criminal activities for drug dealings, money laundering and duplicating money so no one can blame bitcoin technology, in other words it is tougher to do criminal activities with bitcoin than traditional currencies as the bitcoin network is on the mark of police investigation after the wannacry ransomware attack worldwide. Duplication of bitcoin is not possible unlike traditional currencies.
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Sithara007
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October 16, 2017, 06:16:43 AM |
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Bitcoins are being used in crimes ever since 2010 I guess. It is not a new phenomenon. On the other hand, I would say that now the usage for crime has reduced a bit. Ever since the value of Bitcoins increased, the criminals have found it more and more difficult to acquire Bitcoins. And another factor is the emergence of anonymous currencies, such as Monero.
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