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Author Topic: do you know about improper use of bitcoin?  (Read 1459 times)
nidacoinlove
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September 12, 2018, 07:12:35 PM
 #161

The major improper use of bitcoin will have to do with all kind of financial crimes. All these are possible as a result of decentralization and anonymity. There is no record of identity for users. The only thing that is mainly available after a cryptocurrency transaction is the wallets of the users.
My dear everyone know here that Bitcoin is nor a drug nor an arm or ammunition that someone will get hurt with it medically or physically. It is a financial tool and those who want to make illegal or I will say immoral use of it will be financial.
I guess decentralisation and anonymity both are it's good characters that makes it different from the conventional financial system. Saying they are the reasons to illegal activities is wrong because dollar don't have both these characteristics but still is the number one currency preferred for illegal activities.

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nguyenan111011
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September 12, 2018, 07:17:19 PM
 #162

I do not know how to use BTC money. But for me BTC is a place to invest and is my asset.
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September 12, 2018, 07:27:54 PM
 #163

according to different observation i think few ways are available for abusing bitcoins transections such as Technical weakness , Greedy peoples ro dishonest people , proper management. i would like to describe above mentioned quotatin in briefly
1. technical weakness: we know its a peer to peer transection system throgh confirmed way. within a few second a dishonest  person can get more money by fast  clicking when submit second payment of different recipient.
2. proper management: there is so many lack of proper management of human or account holders. so many hackers want to hack system for getting money because bitcoins holder don't have any insurance like bank account holders. even government don't follow rules and regulation for virtual currency holders.
So what you think about it ?

In my own opinion, the improper use of bitcoins is that, if it will be used for illegal transactions such as money laundering to buy drugs and that is the reason why some of the governments wants to ban cryptocurrency.

Antonina
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September 12, 2018, 07:51:45 PM
 #164

how can bitcoin be misused? output it when the rate fell? I do not know another, but this is nonsense
helen28
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September 12, 2018, 08:47:45 PM
 #165

how can bitcoin be misused? output it when the rate fell? I do not know another, but this is nonsense
Misused if people don't know its real function and just relying on the market, when they don't know how to keep calm especially during the situation nowadays and it is not normal. That is why it is  not advisable to buy bitcoin if you are not ready.

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September 15, 2018, 08:19:30 AM
 #166

Bitcoins are use underground transaction especially black market. Even drugs can be trades with bitcoin. Because of the technology, bitcoin is used improperly. We cant blame bitcoin for this, we should blame those who are using bitcoin as their gateway in DOING this illegal transaction.
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September 15, 2018, 08:22:56 AM
 #167

according to different observation i think few ways are available for abusing bitcoins transections such as Technical weakness , Greedy peoples ro dishonest people , proper management. i would like to describe above mentioned quotatin in briefly
1. technical weakness: we know its a peer to peer transection system throgh confirmed way. within a few second a dishonest  person can get more money by fast  clicking when submit second payment of different recipient.
2. proper management: there is so many lack of proper management of human or account holders. so many hackers want to hack system for getting money because bitcoins holder don't have any insurance like bank account holders. even government don't follow rules and regulation for virtual currency holders.
So what you think about it ?
some of the risks that must be faced by those bitcoin users or account users who are in this forum, then before we really dive we must know with some risks and be prepared to deal with it.
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