Why Is There So Much Talk About The Dark Side Of BTC?

[keithers]

I think in general, people are creatures of habit. Therefore anything potentially revolutionary, which challenges something that we have grown used to (especially with money), is met with a lot of reluctance and skepticism.

[plateex]

you also need to keep in mind that many people are nowadays, in the crisis, afraid of losing their money, job, etc.. so anything that seems strange or unusual raises fear...

[newflesh]

Problem is we have a fiat-controlled media, we need to setup our own Bitcoin media organizations to counter all the FUD and propaganda.

[NordicMoose]

Because there is indeed a disproportionate amount of criminal activities using Bitcoin.

Bullshit. SR2 transactions (and the rest of the underweb) don't account for barely a fraction of bitcoin transactions, most are made by the same small group of people via buy and sell bots. This whole debacle has gotten out of hand and isn't even funny any more. I'm tired of the uniformed ejaculating over this forum and the web what they think they know about criminal bitcoin transactions. In reality they are virtually non-existent. The majority buy bitcoins for legal purposes.

People being arrested for legal transactions is unnacceptable, as was Russia's decision to ban it on behalf of every good citizen in Russia, without knowing anything the first thing about it. PayPal's recent treatment of a fellow [Suspicious link removed] member is indicative of how much the seizure of Silk Road has been spun into this rediculous witchunt. Banning bitcoin because of an infintely small subsection of buyers used that to buy illicit articles is the exact equivalebnt of banning fiat money because someone used real money to buy weed.

[NordicMoose]

The "suspicious link removed" refers to my use of thisn forum's name. I didn't realise the name of this forum is forbidden from inclusion in posts. Not sure why though.

[glendall]

When you are against something because you see at as a threat to your power, you paint the opponent in terms of
a) protecting the children (often bringing child porn production into the mix somehow)
b) terrorists (everyone /anyone can now legally be considered a terrorist for no reason, if you have a lot of power, so this the go-to PR campaign)
c) playing on nationalism or racism (if things get really bad)

That's sort of how governments work in modern times. Hopefully after all the baby boomers retire it'll change a bit, but I doubt it, it will probably get worse.

It's really funny to read many of the hit pieces against bitcoin.  Because they have so little to work with they have to get inventive.

Okay let's compare things to the U.S dollar.  It is used for the majority of the world's drug deals and laundering, and 90% of it estimated to have traces of cocaine on the actual bills (lol!)  So it would be much more reasonable to ban it.  Of course, I'm not serious, but logically, that should be as a ridiculous idea to ban bitcoin for the same reasons, should it not?


http://www.acs.org/content/acs/en/pressroom/newsreleases/2009/august/new-study-up-to-90-percent-of-us-paper-money-contains-traces-of-cocaine.html

As for money laundering... for bitcoin is also a bad idea because the block chain is public!   But anyways. Logic and rational thoughts are not what policy is based on. Policy is generally based on expanding and reinforcing your power.

[illpoet]

the media is in love with bitcoin, the government, not so much.  the government is definitely in love with arresting people. the news loves to report on when the government arrests people.  So bitcoin plus indictments is big news!    All the haters want their chance to say "i told you so" i've seen so many damn i told you so's in the past 3 years they've run together.  but then btc busts through whatever small thing the haters thought would kill it and becomes stronger.

[kokojie]

All these hearings about BTC only seem to be focusing on the criminal aspect of BTC, it is all getting rather monotonous.

There is so much good that BTC can do, not everyone is a criminal, but, it appears everyone is a suspected criminal.

Criminals will always find a way to operate with whatever they have at their disposal.

Why don't they have hearings about stopping criminals using fiat.

Banks that are requiring proof of what your withdrawal of funds are required for is an invasion of our privacy.  If they ever ask me I will just say I want to flush it down the toilet as it is worthless.

Personally, I do not think anyone pro-BTC should have anything to with these people that only want to help the top 1% achieve total control.

Because there is indeed a disproportionate amount of criminal activities using Bitcoin. But who can blame them, it solves their biggest problem of getting paid anonymously.

when you receive cash, you also remain anonymous...

Good luck sending cash over the border, anonymously, by Internet.

[bananas]

That's simple. While it is not a currency, it is used as one and about 90% of the BTC in circulation in on crime related transactions. Those not in cuirculation are often lost in frauds. Then you compare with any other currency where most of the money is not related to crime and fraud. It is not BTC fault, it is just 'cause it is not a mainstream "currency".

[CoinRocka]

Controlling the masses.  They know it's coming and are convincing the general public to shy away just long enough...