Bitcoin Are Now Used in Crimes

[francesyrus]

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.

Yeah bitcoin can be use now on crimes or illegal activities because bitcoin users are anonymous. Bitcoin can be use for graft and corruption because it has no tax  because government have no control on it.

But I heard that someone who uses bitcoin for illegal activities have been caught by authorities.

[TheDarkVoice]

Yes, you are right. This really might be something bad for our community, but it will still increase the bitcoin price. If they don't do something with bitcoins that will harm us, then I am ok with them rising the price.

[jinksters09]

Yeah it's possible people with evil and devious minds do take full advantage the fact that bitcoin transaction is decentralized and untraceable which is why they are streaming the money they get from evil schemes through bitcoin because even the investigation team of police will take time or might not find the transaction of money flow due to the fact that it's untraceable.

[shiningstar]

Yes i have read that too! It's so sad to know that there're people that misuse bitcoin, and even more, use them for crime!
I feel angry because even before, people don't really believe bitcoin, and now with this, they just have bad thoughts of bitcoin, not the good one.

[MakeMoneyBtc]

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.

People will always use any kind of methods to buy illegal things, so it is no such a big problem that people use bitcoin for crimes. Even if bitcoin were not created people would anyway buy drugs with real money. The problem is that paying with bitcoin is much harder for the police to find the person who did the transaction.

[mikki14]

That's one of the saddest part. Some people tend to abuse the anonymity of the transactions.
People always find their ways on how to do their illegal transactions, and they see cryptocurrency as a good medium.

[paolo099]

BTC can be considered as fiat, if people uses their money for crimes, i don't see the difference with BTC.
BTC are even easier to use due to decentralisation and anonymity, transaction can't be traced nor your can find who's the owner of the wallet.. not saying it's a good thing, but this is what's happening for years now.

[zeaderza]

its not only now, it has been used already on its early days and guess what Fiats are also used in crimes, governments officials used fiats to do crime and illegal activities.

Fiat is already understood that uses in crimes, now the question here is, bitcoin are now used in crimes. We all know that bitcoin has a lot of potential and since bitcoin is easy to use and to transact everywhere there is a possibility that bitcoin uses in crimes and we cannot stop them from using it since bitcoin is everywhere and everyone can use bitcoin.

This is truly unjust to blame bitcoin for our mentality. Even crimes do occur in paper money it is not only restricted to bitcoin. So first of all what we need is to educate our minds and views. Why don’t we look at the brighter side of bitcoin that it is giving us high level security it is not the currency but our mental makeup to use it either positively or negatively.

[stompix]

BTC can be considered as fiat, if people uses their money for crimes, i don't see the difference with BTC.
BTC are even easier to use due to decentralisation and anonymity, transaction can't be traced nor your can find who's the owner of the wallet.. not saying it's a good thing, but this is what's happening for years now.

That's exactly what other are saying.
You're not defending bitcoin at all here, you're just exposing the fact that indeed it is easier to use bitcoin for illegal purposes than fiat.
Close to untraceable, easy to buy, easy to transfer, easy to deny is yours, easy to hide.
Almost perfect for shady operation. The only drawback is that you can't really use huge amount in real life and you have to go and change it back to fiat.

[lepricoin]

I can say that there is always a place for crimes in our society (it's very bad for me personally that it's a shame to me that with the help of such powerful technology as bitcoin and blockade, scammers will hide their dark deeds (

[BeautyTech]

actually it isn't just bitcoin can be used as something for criminal offense, the government’s fiat cash is also utilized ass device for criminal offense, so possibly we would like or not we must take unhealthy news about bitcoin since there are lots of people who nevertheless misuse the bitcoin. I've also read a thread with a name bitcoin is used to buy drugs and I hope governments on the planet who have recognized bitcoin can avoid criminal offense by utilizing bitcoin.

[BITSPANISH]

BTC can be considered as fiat, if people uses their money for crimes, i don't see the difference with BTC.
BTC are even easier to use due to decentralisation and anonymity, transaction can't be traced nor your can find who's the owner of the wallet.. not saying it's a good thing, but this is what's happening for years now.

That's exactly what other are saying.
You're not defending bitcoin at all here, you're just exposing the fact that indeed it is easier to use bitcoin for illegal purposes than fiat.
Close to untraceable, easy to buy, easy to transfer, easy to deny is yours, easy to hide.
Almost perfect for shady operation. The only drawback is that you can't really use huge amount in real life and you have to go and change it back to fiat.

Cryptocurrency really a currency for user, not for the government or any force want to control the world's economy. Therefore, it became the best currency for crimes because they can hide their information through Bitcoin and cryptocurrency. Their crime will also disappear through Bitcoin

[Pantum]

while it is true that bitcoin may be used for crime after all just like any other currency, the fact that this is a decentralized currency platform is still thousands times better that fiat currency since governments and central banks manipulate millions and billions of money transactions, money making, etc... all from war, scams, and corruption that lead the world to and entire mass of unpunished crime and murder. Take Syria, Libya, and basically every country they have been for selfish and greedy purposes just as an example, whilst there are way more cases, where there have been millions of human lives just taken, cities destroyed, etc... also banks taking advantage of  those are the real criminals that have ABSOLUTELY NO POWER over Bitcoin or it movements/future, they have no control at all. So in terms of crime, IMHO, bitcoin at least takes out of the table those criminals that have power and are corrupt (That's probably why JP Morgan is not happy about the mass use of BTC, cause they know they are losing power)

[SakinaPrincess]

Nothing new. Any valued thing gonna used to be in crimes.. Its not just the bitcoins.

[DeadlineDork]

I think nothing is perfect.  Beside of the benefits of bitcoin and always stroll with negatif for example above point out.  I hope there's a way in long term to prevent bitcoin employed for crimes.

[SixOfFive]

Because of some Unique features like anonymity and decentralization, BTC transactions can't be detected. This helps the criminals to make a financial transaction easily and quickly without much efforts. This is the biggest threat of BTC usage. Govt. also taking this issue more seriously now, and therefore either want to regulate the BTC Transaction or BAN it to remain safe.

[kimochidesh]

Because of anonymity of users, while making a BTC transaction, it helps criminals to make a financial transaction without much hassle. Police can't really trace a BTC transaction so they got no evidence to prove accused a culprit in court.

[dzhan]

Fiat currencies is used in crimes and illegal purposes as well, and a lot before the creation of Bitcoin. So it depend not in the currency but in the intention of people regardless their payment methods.
Bitcoin is used for so many purposes, including some illegal ones, just like fiat.

[kupido14]

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 it possible that bitcoin can be cause a big damage in economy and country especially when it comes to drugs. They can sell drugs easily thru bitcoin because there transaction is not seen by the government and it is not recorded so they can get the money without thinking how they will caught.

[InvalidObjects]

Yes it is but not only nowaday, it has been used in offences for a long time if this became more well-known. As you know Bitcoin is being used the most in cash laundering and drug trafficking make the transaction is really secure therefore it is hard to find out who owns any transaction. Next to, when Bitcoin is not seem, if crimes want to make an offer they have to bring money or tranfer from Financial institution and it is simple to find out but with Bitcoin they just need to do couple of clicks and everything done and it's not easy to find out anybody did that. Do you remember what went down to Btc-at the few months back? It is a common instance with this case