Criminals and Bitcoin

[Atm2020]

This issue with criminals (hackers, terrorists etc) is the main reason for the recent frequent governmental regulations which includes the Know Your Customer (KYC) and Anti-money Laundering (AML) processes. If KYC is done very well, then the security agents can track transactions to their respective addresses and owners of those addresses. But the issue is, will these criminals provide their right identity during KYC?

[MOG247]

This is a scare tactic used to dissuade people from owning bitcoin. Most people who own bitcoin are upright people who simply want to invest in blockchain technology.

[NIuok]

In addition to Bitcoin, criminals will also use any currency that can be circulated. Bitcoin and criminals are not necessarily linked, and Bitcoin is not born for crime.I don't like people always talking about bitcoin and crime together.

[Zurcermozz]

There's a news in our country that criminals uses Bitcoin to scam people. They collected a lot of money. They'd scam 50 investors and the total money they'd scam is Php 900M or 16821000USD. Thats a large money you can buy a house or anything you want, That's why here at my country. They're too scared to invest in bitcoin. Criminals will pull down the economy !!!

[PINAGPALA]

Yes ive read some news about this about the red room and the payment is bitcoin we dont know if its true yet but. is not bitcoin. people usingfor bad intention and for scamming people and we dont know hot to stop that theres always a bad people that will take all away from you

[tebzzz]

Yes ive read some news about this about the red room and the payment is bitcoin we dont know if its true yet but. is not bitcoin. people usingfor bad intention and for scamming people and we dont know hot to stop that theres always a bad people that will take all away from you

this is very unfortunate, if there is some news that preach bitcoin used as a crime. fraud and others have been widely used as an excuse for bad news bitcoin in the media, and this is definitely a bad impact on bitcoin value in the future.

[airdrophunter]

Criminals and bitcoin seems to be partners in crime already as perceived by other country who bans bitcoin and alternate coins as well. That's mainly because criminals can hide themselves from authorities without being tracked through the use of cryptographic transactions in the blockchain.

[Dvmd lionel25]

Well the black market will always look out for an illegal way to carry out they activities, and bitcoin being decentralized is seen as an object to be use to accomplish the illegal deals. Most transactions in the dark market are carried out using bitcoin and other currencies that are hard to be trace to them.

[arganrmartin9909]

The government of Hong Kong had recently made a pronouncement exonerating bitcoin as a currency for committing crimes by criminals, Since Bitcoin is decentralized, government has no access or control to it, so if people uses Bitcoin, they can't control people.

[gesdan]

right now we can see that bitcoin advantages, anonymously is the one feature that used by the criminals, they use it to make a dirty transaction, they use bitcoin because its untrackable and polices can find the owner of the transaction, so the criminals can go freedom with that bitcoin

[Stevelulia]

Bitcoin can be a tool for progress but it really depends on how you use it. Much like a gun can be used to protect or destroy but it depends on who wields it. So it is regulated.

[Nunii]

Yeah its those bad people to blame. This technology is really an innovation however, due to circumstances that may potentially harm more people than benefit them, the government is taking actions of which one is to ban crypto, a preventice action. When the time comes wherein the government get used to and have fair amount of knowledge of the technical in and out of crypto then, more or less they can minimize the thieves thus making blockchain free flowing.

[sitbang]

For us, bitcoin currencies always have their advantages and disadvantages or their strengths and weaknesses, should know some of the current hackers, we all know that the greatest bitcoin is accessible on the internet and we have an account we use then we can do something as well as earning money from bitcoin projects. this is by no means blaming bitcoin for something bad that is often used as well as the latest innovation in solving problems that connect with the world economy.

[Jacata98]

This is a scare tactic used to dissuade people from owning bitcoin. Most people who own bitcoin are upright people who simply want to invest in blockchain technology.

[Lynh kolh]

As you say man, "the bad people committing crimes" and in my opinion bitcoin is not responsible for any case. Criminals cannot be equated with bitcoin.

[taher1980]

As the usage of bitcoin is increasing day by day, it is true that various occurrence will with bitcoin. So, law enforcement agency should be aware to combat it.

[zalixo]

You can't completely silent the truth, anything that have merits equally have demerits. I guess this is one of the bitcoin demerit. The police have to do seriously investigation if it means by tracking each business transactions to apprehend these criminals.

[mendozaaria1]

 I don't think so that Bitcoin can be a danger to society, since the problem is the society and its people. I am quite sure that a large percentage of the malicious usage located itself to cryptocurrencies focused on offering people the privacy they are looking for.

[liuziwenfree]

Crime is not bitcoin, it is not gold, it is not the renminbi, but this gorgeous soul!
It is necessary for BTC to innovate in technology and use big data technology to achieve a certain degree of traceability of Bitcoin in principle.

[Shenlong bay]

Well, unfortunately, criminals can always find many ways.. I believe that in time more people will know about bitcoin and they’re gonna understand the main idea.