Bitcoins for illegal activity

[Sithara007]

I think that is their only option to stop illegal activities in their country involving bitcoin, its really hard to trace people who uses bitcoin as a source of payment for drug etc, but for sure there will some a time that they will unban bitcoin because there are lots of good things bitcoin can do than evil ones.

After the Danish police arrested a few Bitcoin dealers in October, the dark markets have started to move away from BTC. Right now the preferred currency of drug trade is Monero, with Zcash and Blackbytes competing for the second spot. I still don't understand why the governments are going after Bitcoin and not after Monero.

[Yamifoud]

From recent news in India it is heard that bitcoins are used to sell drugs..I know its a currency and it is also used as a normal money... but these can create a bad space in people's mind that bitcoins are used to sell drugs..so they will not use bitcoins... Conclusion is that BTC is also a currency which is having a high value in the market..and bitcoins must not be used in these illegal activity which can reduce its usage and value.

of having a lot of positive contributions of bitcoin but we can't certainly escaped from this criminal works.This is one of the biggest disadvantage of using digital currencies, because we don't know if the transaction is made are for illegal activities. This is also the reason why some countries won't let their people used bitcoin because they found out that it could only contribute for untraceable illegal activities.

[awongs]

Why only bitcon, all valuable currencies like USD, Gold etc are used illegal trades. Not in India all over the these things are happening over more than hundred yearsBitcoin is a decentralised, digital currency. Its quiet difficult to find the bitcoin trader. Bitcoin has become the most valued currency. Bitcoin is first used in illegal trade by ransomeware hackers. This news has created a bad impression about bitcoin all over the world. Now countries like Australia, USA are banning biotin by having security reasons. Bitcoin or any currency have no right to enter into a trade, it the holder of that currency.

you are wrong that says america forbid bitcoin, recently america put bitcoin into stock market and now enthusiast of bitcoin is bigger.

[Kuchiyose]

I think that is their only option to stop illegal activities in their country involving bitcoin, its really hard to trace people who uses bitcoin as a source of payment for drug etc, but for sure there will some a time that they will unban bitcoin because there are lots of good things bitcoin can do than evil ones.

After the Danish police arrested a few Bitcoin dealers in October, the dark markets have started to move away from BTC. Right now the preferred currency of drug trade is Monero, with Zcash and Blackbytes competing for the second spot. I still don't understand why the governments are going after Bitcoin and not after Monero.

I don't expect in other countries to use Bitcoin as a tool of illegal transactions and other deeds.

[futile-resistance]

Well for me i will hold it as long as my walley can. Since there is a limit and im gonna hold it as long as the value of bitcoin increases. If the value of bitcoin drastically increases then i will cash it out and have a bigger money at the end

Those who are jealous of bitcoin spread such rumors, they are them self unable to earn and make out in bitcoin so they blame bitcoin for it. The governments which are neglecting bitcoin and are banning it are actually busy in filling their pocket by the taxes paid by mass and they do not want to provide ease to the mass. Why we humans blame bitcoin for everything, this is not bitcoin but our mentality responsible for illegal work

[Fasunathan]

I think that is their only option to stop illegal activities in their country involving bitcoin, its really hard to trace people who uses bitcoin as a source of payment for drug etc, but for sure there will some a time that they will unban bitcoin because there are lots of good things bitcoin can do than evil ones.

After the Danish police arrested a few Bitcoin dealers in October, the dark markets have started to move away from BTC. Right now the preferred currency of drug trade is Monero, with Zcash and Blackbytes competing for the second spot. I still don't understand why the governments are going after Bitcoin and not after Monero.

I don't expect in other countries to use Bitcoin as a tool of illegal transactions and other deeds.

It is possible. People will really find ways to do illegal things and bitcoin is not exempted to that. But in that case, the people who did illegal are the one to be blamed and not the bitcoin itself since bitcoin is just a cryotocurrency that they used for illegal ways. Even if without bitcoin there is a very big possibility that evil people will do things illegally.

[Ellapots1234]

Well, it is not the problem with Bitcoin but the human involved. There are also cases whereby people buy and sell drugs or involve in any illegal activities using fiat.

People have choice. they can either use it in a legal way or illegal way. we cant stop them, they have their own will oh how to handle it.
but these might change the image of bitcoin. people may look at it negatively because they can see whats happening and whats really the purpose of bitcoin in this world. people might hesitate to have it. And as we all know if people holds money, they can use it whenever they want especially if has a high value and if they want to make it higher more by engaging in a legal way of having money

[mangenta]

From recent news in India it is heard that bitcoins are used to sell drugs..I know its a currency and it is also used as a normal money... but these can create a bad space in people's mind that bitcoins are used to sell drugs..so they will not use bitcoins... Conclusion is that BTC is also a currency which is having a high value in the market..and bitcoins must not be used in these illegal activity which can reduce its usage and value.

Are paper money not used to sell drug too?

[chickenfried12]

Of course, everything can be done with Bitcoin, but marketing of Drug Sell or encouraging it is not the problem of Bitcoin this is really the problem of people If money transfers in large quantities are concerned, how much money do you have for 10 Bitcoin and you use it in your purchases? it is so dangerous.

[Sale_man]

Being untraceable is one of bitcoin's advantages, but unfortunately, many people take advantage of that to make their illegal business in total security. It's too bad to see these kind of case because they affect the opinion of people towards bitcoin. Many who don't know much about bitcoin, think it is an illegal activity to mine it or even to have some.

[RavenHood]

In my opinion, yes it can be done by some evil people. Bitcoin doesn’t need too many identities, and you can use it anonymously. That is the reason why bitcoin is ban in some country because of the identity; they can identify who that person is, even you can see the IP address of the user they can easily delete that bitcoin address they use and generate a new one, so they can’t blame into the illegal work.

[wolfgang56]

From recent news in India it is heard that bitcoins are used to sell drugs..I know its a currency and it is also used as a normal money... but these can create a bad space in people's mind that bitcoins are used to sell drugs..so they will not use bitcoins... Conclusion is that BTC is also a currency which is having a high value in the market..and bitcoins must not be used in these illegal activity which can reduce its usage and value.

It is not only in India, actually there is a segment I don't know what network it is and I forgot the title of the show that tackles about how a FBI agent found the most wanted drug lord in their area, as he investigate about it he found that the drug lord use bitcoin as his payment or currency to buy and sell drugs all over his neighbor and all over the world. And you can still get caught even you use bitcoin in your bad activities.

[AicecreaME]

From recent news in India it is heard that bitcoins are used to sell drugs..I know its a currency and it is also used as a normal money... but these can create a bad space in people's mind that bitcoins are used to sell drugs..so they will not use bitcoins... Conclusion is that BTC is also a currency which is having a high value in the market..and bitcoins must not be used in these illegal activity which can reduce its usage and value.

It is not only in India, actually there is a segment I don't know what network it is and I forgot the title of the show that tackles about how a FBI agent found the most wanted drug lord in their area, as he investigate about it he found that the drug lord use bitcoin as his payment or currency to buy and sell drugs all over his neighbor and all over the world. And you can still get caught even you use bitcoin in your bad activities.

It is not the fault of bitcoin if people do spend bitcoin in bad ways, like buying drugs online and other illegal activities. We have our own choices in life, and we have our own bitcoin so it is up to us wherever we wanted to spend it. It is normal that people are doing such thing, but the only disadvantage of this is thr government having a hard time on knowing who is beyond this kind of activities since everyone who uses bitcoin is anonymous unless they will reveal their true identity. 

[LogitechMouse]

I expected this since bitcoin has its value like the fiat money. As you can see, fiat money has been used in the illegal activities and there is no doubt that bitcoin will be used too and its not the fault of the bitcoin. Some countries around the world are using bitcoin for illegal activities since its anonymous and impossible to trace.

[1Referee]

Are paper money not used to sell drug too?

Indeed. Paper money however doesn't form a threat to the economy since it's something issued by the governments. Bitcoin however is something that breaks through this system, and offers people a way to bypass any central authority. Paper money does to a certain extent allow you to bypass the government as well when it comes to conducting offline transactions, but we have already seen that the government suddenly can choose to take certain paper bills out of circulation. So even with paper money you're not safe from the governmental tyranny.

[Biggapp]

Why only bitcon, all valuable currencies like USD, Gold etc are used illegal trades. Not in India all over the these things are happening over more than hundred yearsBitcoin is a decentralised, digital currency. Its quiet difficult to find the bitcoin trader. Bitcoin has become the most valued currency. Bitcoin is first used in illegal trade by ransomeware hackers. This news has created a bad impression about bitcoin all over the world. Now countries like Australia, USA are banning biotin by having security reasons. Bitcoin or any currency have no right to enter into a trade, it the holder of that currency.

you are wrong that says america forbid bitcoin, recently america put bitcoin into stock market and now enthusiast of bitcoin is bigger.

I am agreeing with you because it is still being use in America and people are investing in it. I have no issue if they will not use it because only a single countries rejection or stopping bitcoin use will not affect the value and price of bitcoin. At start bitcoin was not very famous in several countries but now it is popular and spreading all over the world. So it can be use by all people and there is no Issue if we use it for good a well because ever one has their own mentality.

[jsscswan]

This is the reason there are some countries that still have not legalized bitcoin. Actually, bitcoin is very useful for us, but because there are individuals who abuse bitcoin as a drug payment make bitcoin image so bad in people's eyes.

[anjaydut]

if that happens we can not immediately take a unilateral decision, bitcoin is just a tool, it is human beings who play an important role in that
if there is a case where bitcoin is used in a dark transaction, or the sale of illegal drugs is not due to the bitcoin error itself, before any bitcoin crime also exists, I will continue to support bitcoin, and I will report to the authorities if it knows there is a transaction illegal sale of goods, whether using bitcoin or real money

[BTCeminjas]

From recent news in India it is heard that bitcoins are used to sell drugs..I know its a currency and it is also used as a normal money... but these can create a bad space in people's mind that bitcoins are used to sell drugs..so they will not use bitcoins... Conclusion is that BTC is also a currency which is having a high value in the market..and bitcoins must not be used in these illegal activity which can reduce its usage and value.

That's maybe possible happened to bitcoin because the transaction of it were not traceable to any one or even our local government.
So this is not fault of the bitcoin the person who involved and abusing bitcoin using for criminal activities and other illegal activities.
Even in fiat there's illegal activities not only by bitcoin and i hope we can avoid this dark intention of bitcoin.

[gilangIDR]

if that happens we can not immediately take a unilateral decision, bitcoin is just a tool, it is human beings who play an important role in that
if there is a case where bitcoin is used in a dark transaction, or the sale of illegal drugs is not due to the bitcoin error itself, before any bitcoin crime also exists, I will continue to support bitcoin, and I will report to the authorities if it knows there is a transaction illegal sale of goods, whether using bitcoin or real money

Bitcoin is just a medium. The use of real currency can also get an indication if it is used illegally, so most important is the person who uses it. Perhaps the anonymous nature of bitcoin can lead to illegal acts more easily done, but I would rather agree that the person committing the crime should be punished. Because if bitcoin is banned then it is not a solution, crime and illegal acts will still exist. Bitcoin is not the beginning of the problem, bitcoin is a financial solution in the future.