Criminals and Bitcoin

[elisabetheva]

it is unfortunate that bitcoin can be for very negative things, because if that happens then many countries will make tightening and regulation very difficult and will have an impact on the continuity of bitcoin.
but hopefully the country can intervene to prevent the use of bitcoin for any form of criminalization. hope to be resolved .........

[squallw]

Bitcoin and Cryptos has nothing to do with crimes, people commit crimes. I guess that the greatest criminals in the world uses USD not cryptos.
There are crimes in many areas in this world and in crypto isnt excluded.
Bitcoin is not totally untraceable but it is hard to do it.

[Reid]

It will be hard to track it if they use some kind of mixer or the one who made the transaction doesnt really have much information about the profile.
IP tracking of where the last transaction could somehow do it but that is also if they are not using any VPN or something to scramble the IP.

A hard to task to give a good solution to it.
It had talked here most of the time just so to clear the bitcoin name which is being stained by those kind of illegal transactions.

[x xurtjati]

we can not clarify a deliberate crime or not if bitcoin is used for a crime they must have evidence of whether it is true or not because the police can not prove it right or wrong, we have heard this news many times but where the proof is just an unnecessary piracy we respond.

[P3]

I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes)  and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.

the special law enforcement services still have methods of work, often without computers. only at the expense ties. But using bitcoin, you can make a long chain of logic and come out a criminal.

[network.decentralizer]

I don't think that this is true. Bitcoin and other cryptos are mainly used by investors due to the high daily price change, the easy of using them and from those who want to hide their funds or make international payments. I believe that less than 0.1% of transactions belong to criminal activity. Don't forget that criminals don't care about currencies. You think that a criminal can't use USD or other currency to make a transaction? Except if you mean as a criminal someone that wants to hide his money from tax authorities.

[richardsNY]

Bitcoin is not totally untraceable but it is hard to do it.

Bitcoin transactions are very easy to trace with how its blockchain is like an online book that everyone can browse through. People don't actually enjoy any form of long term privacy. At some point you may and will likely be linked to specific transactions, which is something people don't think about currently. I am quite sure that a large percentage of the malicious usage located itself to crypto currencies focused on offering people the privacy they are looking for. Bitcoin's open nature is exactly why I strongly believe that it will never be outlawed, where the coins offering privacy features will likely undergo a less friendly treatment, but it's not really a problem with how decentralized exchanges gain more popularity. Privacy coins will function mainly as entry and exit points.

[surfinonmyownwavebaby]

Your right nothing will happen because of Bitcoin, but that is the narrative the media will try to push on us. They will say the criminals, pornstars, and whoever else who is bad will begin to use Bitcoin. Well they aren't technically incorrect, the first people to adapt to emerging technologies are people who generally don't have many options when it comes to financial services. Some of those are illegal like criminals but some are purely discriminated against for their profession, which is the pornstars and strippers.

[Happiest]

Criminals can be seen every where, not only in bitcoin, its just so unfortunate that bitcoin has to be fully associated with criminal activities just because they used it for scam purposes and money laundering. Its so unfortunate that the government bad name bitcoin because of all this criminal activities. Even criminals can be seen in the popular fiat currency too.

[dado7]

I second your opinion OP. I actually wrote about that.There is too much FUD over something that is not Bitcoin-specific.

[Pearls Before Swine]

Hmm haven't we discussed this to death?

Absolutely we have, but what's one more unnecessary spam topic amongst friends, right?

My mother knows I'm into crypto and I just saw her today, and she saw I had the forum pulled up on the screen, so she asked me if 'bitcoin had gone back up' and 'they keep saying it's being used for illegal things'.  The second part I tried to explain to her like I'd explain to anyone who creates a thread like this.  Yes indeedy, it's used for really bad goods & services, some of the worst things known to man, and that's because it's quick to send and there's a little bit of anonymity involved.  But it also is used to buy some really good electronics on sites like Newegg and some really bad, overpriced stuff on Overstock.com. 

Bitcoin is never going to wash off the stain of its birth, so to speak.  Early on it was very strongly associated with Silk Road, and them getting busted was very high profile.  It's burned into people's minds that bitcoin is a currency for black marketeers, and I doubt that can be unburned.

[wormgummy019]

I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes)  and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.
[/quote




Yes, I agree to you that illegal trasaction are one of the reasons why governments and media are trying to depreciate bitcoin. I think this activities are also the reason why goverments are banning bitcoin. I hope that this criminals will catch soon even though it is hard to track.

[Marcus Kohen]

Of course, criminals use all the resources that provide them with anonymity. And bitcoin is no exception. Its decentralized system is very useful for ensuring anonymity. And for the police it becomes impossible to unravel the identity of the criminal who carried out the transaction. Authorities can only view transactions and everything.

[Johnyz]

Criminals can be seen every where, not only in bitcoin

This is the place where you can see a lot of greedy people and scammers will always be on our side but of course don't fall on that trap. Keep learning things and don't believe on easy money because for sure its a 100% scam and you money will easily be gone.

[tokrexOrg]

The block chain can be used to track public keys... cause it's a public ledger. Anyway a institution needs to track the public key with a person.. is more challenging... but not impossible. best to use a zero knowledge prove coin like zchash or monero to really hide your identity.

[ART4815]

"Sex, Drugs and Bitcoin

Cryptocurrencies are among the largest unregulated markets in the world. Bitcoin is often called The Currency of Terrorism. However, it may be not quite true. Despite the surge in cryptocurrency usage and values in 2017, estimated holdings of criminal proceeds in crypto currency remain small in absolute value and even smaller relative to estimated criminal transactions.

Recent study by the University of Sydney and University of Technology Sydney has found that ‘approximately one-quarter of bitcoin users and one-half of bitcoin transactions are associated with illegal activity. Around $72 billion of illegal activity per year involves bitcoin, which is close to the scale of the US and European markets for illegal drugs.’ But, the researchers found the same users collectively hold just $8bn worth of Bitcoin.

Barclays analysts claim, that there is evidence that ‘dark web’ criminal activity on Bitcoin is shifting to Monero and Zcash to better mask transactions, but these two crypto currencies have total market capitalisations of just $4,1bn and $1,1bn, respectively." ALFA Rating

www.alfarating.com or https://t.me/alfarating

[Weeko]

I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes)  and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.

Criminals will always always find new ways of money laundering and this does not mean that everything associated with this is bad for society

[zolfa]

yes, bitcoin is often used as a criminal tool by some people, so I think this is something that should be considered by a country that will legalize bitcoin. meaning that if a country will legalize bitcoin, then they must make legal regulations. so it has legal consequences against criminals who use bitcoin.

and I think the blockchain system can help the law enforcement process, especially for the investigation and tracking activities of criminal transactions using bitcoin.

one of the startups serving law enforcement agencies to investigate suspicious transactions in bitcoin networks, the startup is elliptic. elliptic has a machine that can study and analyze public transactions of ledger or blockchain.

and the investigation doing by an elliptic device called "the bitcoin big bang", with that device being able to provide visualizations to track the bitcoin transactions.

[stephanirain]

I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes)  and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.

In my own personal opinion, this is one of the reason why people think bitcoin is just a scam or just a way to trick people. The image of bitcoin is ruined because of this kind of people who used bitcoin for illegal activities. I hope that we could find a way to rid of them because many of us have victimized by their illegal activities.

[jemarie20]

I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes)  and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.

Yes its so difficult to ordinary police to trace the transaction of bitcoin to apprehend the criminals but my solution in this problem is upgrade the security of the world and hired a people who are the expert inters of bitcoin transaction and give them the authority to trace those people who are using bitcoin in their illegal activities in that way we can eliminate and lessen the people who use bitcoin in the illegal matters.