Golubhargava
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December 23, 2017, 11:23:51 AM |
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Since Bitcoin is a worldwide cryptocurrency and payment system where the transactions take place between users directly without the need of an intermediary. The transactions made are being known only by the users and can not be tracked by the authorities especially the government. Because of this, illegal transactions/activities may take place.
Bitcoin does not have some of it used for illegal activity .. |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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ellabanana
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December 23, 2017, 11:34:52 AM |
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I just read some post in Facebook saying that Bitcoin is a scam. I fear that it is true, that it is a scam and is used for illegal activities. Well, I believe in Bitcoin but I'm also worried at the same time.
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Aya1
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December 23, 2017, 12:09:28 PM |
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One of the popular virtual money alias cryptocurrency, Bitcoin, is experiencing a decline in the exchange rate. Chinese policy is the reason.
The Chinese government issued a policy prohibiting the transaction of initial coin offerings (ICO). The ban was issued not without reason.
bitcoin potentially bubble and break after a lot more popular and a lot of people want to have. with proven its value that skyrocket from $ 10m to USD 60 million in just 8 months. when the bubble burst and prices fall, investors will hurt.
Bitcoin transactions are difficult to trace. It is used by irresponsible parties for money laundering, drug sales, smuggling, and other illegal activities.
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Fazlurkhan.kz
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December 23, 2017, 12:12:56 PM |
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Bitcoin was created for the convenience of common people, it's purpose was pure and just to help people. But there are people who just want to make more and more money by doing illegal stuff and no one can control them as it is a decentralized cryptocurrency. And the people who use it for these illegal activities take advantage of it being decentralized and continue their malpractice. But on the other side there are people who do see a bright future in bitcoin and believe in it and earn through it by the right way.
And if we see, then normal currencies are also definitely used for illegal activities. So, people just need to understand that the purpose of bitcoin was solely the convenience of people and there are some villains who just commit crime and discredit bitcoin.
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Dudeperfect
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December 23, 2017, 12:36:21 PM |
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Well, it's the perception that defines the popularity in a positive or negative manner. Yes, people are using Bitcoins for illegal activities but that has nothing to do with Bitcoin because everyone will prefer the mode of transfer that is convenient for him and since Bitcoin offers many benefits as compared to that of traditional fiat currencies, it is popular.
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nagatraju
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December 23, 2017, 12:38:56 PM |
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Bitcoin was created for the convenience of common people, it's purpose was pure and just to help people. But there are people who just want to make more and more money by doing illegal stuff and no one can control them as it is a decentralized cryptocurrency. And the people who use it for these illegal activities take advantage of it being decentralized and continue their malpractice. But on the other side there are people who do see a bright future in bitcoin and believe in it and earn through it by the right way.
And if we see, then normal currencies are also definitely used for illegal activities. So, people just need to understand that the purpose of bitcoin was solely the convenience of people and there are some villains who just commit crime and discredit bitcoin.
bitcoin was really created for the best purpose...that the scammers use it doesn't make it bad...the main thing is you continue to use it yourself for useful purposes |
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Bes19
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December 23, 2017, 12:43:41 PM |
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The main purpose of bitcoin is to help people. But yeah it can be used by illegal or bad purposes. It can't be avoided but for myself i will use it on clean and on ways that it could help me and my family. It is up to people which ways they want to use it.
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JTEN18
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December 23, 2017, 12:46:34 PM |
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Well, it's the perception that defines the popularity in a positive or negative manner. Yes, people are using Bitcoins for illegal activities but that has nothing to do with Bitcoin because everyone will prefer the mode of transfer that is convenient for him and since Bitcoin offers many benefits as compared to that of traditional fiat currencies, it is popular.
Because of its anonymity concept a lot of people are using this as an advantage for their own sake just like in other countries where they have found out that they are using bitcoin as their instrument in making those transactions, that is also the reason why a lot of countries refuse to legalize bitcoin in their country. |
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tumokatok
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December 23, 2017, 12:48:30 PM |
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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.
yes bitcoin can be used for illegal activities one example is bitcoin can be used for money laundering, if bitcoin until there is in the hands of the wrong people, but bitcoin can also improve the material of its user in the case of finance |
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jak3
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Merit: 1004
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December 23, 2017, 01:04:52 PM |
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Honestly, every coin has two sides a good and a bad now if we see on the good side. Bitcoin is being used widely on development and Technical side it also help me to learn new ways of the market and economy of a country like how money works inside a country otherwise on the other hand we can see that Bitcoin is also being used on the Deep web and also being used at drugs and other bad or illegal activities.
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worle1bm
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December 23, 2017, 01:20:06 PM |
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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.
Evrything has positive as well as negative aspects which cannot be ovelooked and same is the case with use of btc.Crimes are being associated with start of it but if we think logically it is not because of bitcoin usage but how the person associated with it use it.This coin can be used for technical developments and financial help but humans make use of it in wrong way so we cannot blame btc for this because they also do the similar activities with fiat also. |
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loof99
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December 23, 2017, 01:49:45 PM |
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I just read some post in Facebook saying that Bitcoin is a scam. I fear that it is true, that it is a scam and is used for illegal activities. Well, I believe in Bitcoin but I'm also worried at the same time.
If you really research what bitcoin is and what it can do you'll probably think that this bitcoin thing isn't a scam. On the first couple of years of bitcoin is being used by this evil people who runs and trade illegal drugs/weapons on the internet and it is only been found on the dark web it is called the SILKROAD and have been shutdown by the fbi. Thats one of the reason why bitcoin is being called scam/fraud because it can be used on illegal trading. |
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vegethegreat
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December 23, 2017, 01:56:05 PM |
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I even heared/read alot of negative news regarding bitcoin not only in involving in drugs even to other crimes.
In everything, there's always a possitive and negative effect. But it depends to end user on how they will use their resources. People commit a crime because they often misused it.
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alexsamudra
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December 23, 2017, 02:02:58 PM |
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first I joined the same bitcoin I was wondering if bitcoin was illegal or not, but I continue to believe that bitcoin is legal. many people think bitcoin is illegal and many also consider bitcoin legal and safe for community use. not many people are using bitcoin investments because they are still afraid of illegal bitcoins, but I will not think about it. invest it is very good to use bitcoin or gold and goods, just be smart and smart. the results you get make huge profits.
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Newboybb
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December 23, 2017, 02:06:30 PM |
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Today, bitcoin has rarely been used as an illegal trade, and more as a collection and investment, the illegal trade now USES more anonymous COINS.
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GreenBits
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December 23, 2017, 02:18:47 PM |
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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.
bitcoin is a money man. people buy drugs with money LOL, so this was a natural conclusion  i think the issue the media is carrying right now is more about this inflated price, rather than the legitimacy of bitcoin traffic. we just got past the season of scandals (the kidnapping, btce, some high profile scams), this is the season of bubble (Jamie Dimon and the rest of wallstreet, and the msm). do people stop using cash because other folks use it for illegal activity? of course not, and the same should apply for cryptos  |
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simonbakla02
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December 23, 2017, 02:25:00 PM |
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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.
All sorts of money or things that is in the range of our knowledge we can use it as a tool for illegal purposes or rather for legal purposes. Yes, bitcoin is possible that is involve in illegal doings but it depends on the users on how they should use it. Its not just bitcoin all of the things we can use it to trick someone. |
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zarados
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December 23, 2017, 02:25:30 PM |
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If you think something that is used for criminal or illegal activities can interfere with the development of something, you are wrong. Because if you're right, we will not enjoy the internet, the police will not use fire weapon, doctors will not use alcohol and much more (hope you understand what I mean). Thus, something used as a means of illegal acts is one part of the black and white. Because everything has its black and white sides for balance. Therefore, this will not have a big effect,
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spiritguardcharles
Jr. Member
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December 23, 2017, 02:32:15 PM |
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I think btc is far more vulnerable to illegal activities since btc is a digital currency in which safer that meet ups and as much easily to execute when it comes to tradings.It could actually decrease the risk of getting caught by tbe government agencies since those are law abiding acvities.
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Dmitry.Vastov
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December 23, 2017, 04:52:05 PM |
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It is not true. Bitcoin is for both legal and illegal, mainly it is depends upon people choice of use. Many anti social people use bitcoin to fulfill their criminal activities. Bitcoin mainly used for illegal money transaction and anti money laundering issue. Because transaction by bitcoin can't be trace and no third party interfere. Due to this many terrorist organisation and criminal people use bitcoin. Kidnapping, child pronography, murder like activities also done with help of bitcoin. Many criminal minded people use bitcoin to fraud innocent people. |
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