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Author Topic: Bitcoin not the choice of criminals anymore  (Read 754 times)
bajigur894784
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August 20, 2018, 03:48:50 PM
 #21

Yes, the world must know that. Many public misunderstandings about the Bitcoin usage by criminals, but this thought is wrong thinking. This thought is caused by many people who think that Bitcoin is anonymous, Actually, Bitcoin is actually the opposite of that, all Bitcoin transactions are transparent and everyone in the world can see the ongoing Bitcoin transactions.

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August 20, 2018, 07:15:06 PM
 #22

This is good news for Bitcoin's image. Anyone who wants to make anonymous payments has long since switched to Dash or Zcash. Therefore, in such countries as Japan and prohibit these altcoyins.
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August 20, 2018, 07:21:27 PM
 #23

It is a good thing that even the US Law Enforcement is noticing that crimes related to Bitcoin is decreasing it only means that their regulations towards cryptocurrency is not painted with biased or one sided rule they really just want the safety and security of their citizens and their own nation. Unlike other countries where they obviously do unreasonable regulations that even though they don't ban BTC entirely they are blocking some main points where it will work smoothly in their county. Just like India with the memorandums and prohibitions being issued by their RBI hopefully the SC will side with the cryptocurrencies.

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August 20, 2018, 07:52:55 PM
 #24

BTC us getting a much-improved image as US law enforcement acknowledges that BTC criminal use has declined dramatically.

https://forexmarketslive.com/bitcoin-not-the-choice-of-criminals-anymore/

We have another type of crime and criminals that until today are not yet on the police radar, I will give some examples:

LocalBitcoins.com Accused of Stealing Bitcoins, Has Them in Escrow Since May 2015

HITBTC Scam, it took all my money

I lost 50k on this site, when I pay with small amount, everything is fine, after I transfer more to the site, all sudden they block the account (no email, no reason, uncontactable), my god, it's scam.

Explanations of pure scam: 65,000 USD stolen by HitBTC

YOBIT Scam Exchange

Yobit Scam withholding 10BTC


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August 20, 2018, 10:50:20 PM
 #25

BTC us getting a much-improved image as US law enforcement acknowledges that BTC criminal use has declined dramatically.

https://forexmarketslive.com/bitcoin-not-the-choice-of-criminals-anymore/

We have another type of crime and criminals that until today are not yet on the police radar, I will give some examples:

LocalBitcoins.com Accused of Stealing Bitcoins, Has Them in Escrow Since May 2015

HITBTC Scam, it took all my money

I lost 50k on this site, when I pay with small amount, everything is fine, after I transfer more to the site, all sudden they block the account (no email, no reason, uncontactable), my god, it's scam.

Explanations of pure scam: 65,000 USD stolen by HitBTC

YOBIT Scam Exchange

Yobit Scam withholding 10BTC


I am concerned about what you are experiencing, but with the news that crime rates are reduced, about BTC is a good thing, maybe police officers need to be tighter about the rules of bitcoin transactions so they can monitor and easily find evidence of transaction fraud.

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August 20, 2018, 11:49:56 PM
 #26

I hope this can open the eyes of the world and become a cause of widespread acceptance of bitcoin by various countries.
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August 21, 2018, 12:46:56 AM
 #27

BTC us getting a much-improved image as US law enforcement acknowledges that BTC criminal use has declined dramatically.

https://forexmarketslive.com/bitcoin-not-the-choice-of-criminals-anymore/

it is true that criminals in developed countries like America are declining in the storage of the proceeds of their crimes using bitcoin, but such circumstances may not occur in a country where the financial system is not as advanced as America, for example third world countries, where many criminals keep their funds in cryptocurrency, because of the weak law enforcement monitoring system in this country

therefore there are still many countries that have not supported the bitcoin currency, because there are still many financial frauds.
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August 21, 2018, 01:14:12 AM
 #28

One probability of the drop is because they are using other cryptocurrencies based on anonymity like Monero, Zcash, Ripple as tracking the transactions with this altcoins is much harder compared to what we see in the blockchain of BTC. The shift in cryptocurrecy used in crimes is pretty prevalent as already the exchanges in South Korea have delisted the aforementioned cryptocurrencies as per order of their government.

Privacy coins are taking the attention of the criminals but then when the media cover a story, the only cryptocurrency they would mention most of the time is bitcoin. If it is about an investment scheme then they would immediately say "bitcoin scam" that's why people always assume that bitcoin is the scam itself.

The South Korean government has mentioned that millions has already been laundered with these coins and they hope that the delisting will help lessen the attempts made through these coins, however they still are figuring a way on how to stop it completely.

I don't think that they can completely prevent it though because people will always have a way to achieve what they wanted. You're right that the criminals shifted their attention more to privacy coins as bitcoin is not that anonymous compared to the coins you mentioned that's why it is not the choice of most criminals anymore. But then every time there is a news, bitcoin is still the one being pointed out as used by criminals because many people only knew bitcoin and thought that it's the only cryptocurrency existing.


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August 21, 2018, 02:09:39 AM
 #29

Even criminals wanted something stable too. This only happened because they can't rely too much on bitcoin with it's fluctuating prices that affects whatever their business is. I know they'll go back again once btc makes noises and become the main topic of financial news.

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August 21, 2018, 07:44:23 AM
 #30

I don't think that they can completely prevent it though because people will always have a way to achieve what they wanted. You're right that the criminals shifted their attention more to privacy coins as bitcoin is not that anonymous compared to the coins you mentioned that's why it is not the choice of most criminals anymore. But then every time there is a news, bitcoin is still the one being pointed out as used by criminals because many people only knew bitcoin and thought that it's the only cryptocurrency existing.

They actually still do use Bitcoin because of the privacy coins' lack of liquidity:

Infante added that while privacy-centric cryptocurrencies like monero and zcash may be attractive alternatives, they are currently too small and illiquid to be a viable payment instrument for criminal enterprise. She also said that DEA agents “still have ways of tracking” these transactions, though she did not go into detail about those methods.

They probably don't use Bitcoin as much for actual payments on goods, but they definitely still use it as a gateway to fiat. It's only going to get harder as regulators start clamping down though.

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August 21, 2018, 08:06:22 AM
 #31

BTC us getting a much-improved image as US law enforcement acknowledges that BTC criminal use has declined dramatically.

https://forexmarketslive.com/bitcoin-not-the-choice-of-criminals-anymore/

Well, this is possible to happen because most of the nations are now creating and improving their regulations policies to ensure that Bitcoin currency will not be use in illegal activities which is really very effective. KYC alone although a difficult task but its proven effective in which people background can now be identified. I believed this is the reason too on why the demand of Bitcoin and the crypro currency is reducing because some of it are formerly owns by the illegal people.

Exactly. The main factor behind this curbing of criminal use is the regulatory movements that we've been seeing. Everyone hates KYC but in the end it helps to make the crypto community more trustworthy overall. There were too many dirty associations with Bitcoin and criminals in the past that we need to have clear image. When there aren't criminal associations, regular investors will see it as less of a risk.

I don't think that we can completely eliminate criminal use but can at least keep a limit on it. They will always find a way to use it without validation.
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August 29, 2018, 09:41:15 AM
 #32

The time comes for legal recognition of this currency by many states. This kind of Internet money will have to come out of the shadows and obey the legal terms of circulation.
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August 29, 2018, 04:21:06 PM
 #33

okay, maybe you think crime has drastically reduced. How to deal with people who do free trade such as sex, drugs, illegal weapons, and funding an illegal community like ISIS. Isn't that a crime that must be eradicated?

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August 29, 2018, 05:20:25 PM
 #34

Well at my country still become the favorite or may be the favorite currency especially for corruptor !
That's why my government still forbid cryptocurrency until now. Of course every government have their own policy against the problem they against with cryptocurrency !

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August 29, 2018, 05:52:31 PM
 #35

It is not in my opinion that non-legal work was done when bitcoin did not happen even then it may be a thought but this is not true. Yes, one thing must be transparency and every act should be done only by the law.
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August 29, 2018, 07:43:02 PM
 #36

okay, maybe you think crime has drastically reduced. How to deal with people who do free trade such as sex, drugs, illegal weapons, and funding an illegal community like ISIS. Isn't that a crime that must be eradicated?
Most of these people don't use cryptocurrencies. Cash was and still is the most popular payment in the criminal underworld. You can't do anything about it and you won't be able to do anything about people who exchange cryptocurrency for cash or pay with it in person for illegal goods.
That said, I wouldn't add sex into the mix. In most countries prostitution is legal and I believe that it should be legal. If a girl wants to make money this way it's her choice, especially that no harm is being done.
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August 29, 2018, 09:06:36 PM
 #37

okay, maybe you think crime has drastically reduced. How to deal with people who do free trade such as sex, drugs, illegal weapons, and funding an illegal community like ISIS. Isn't that a crime that must be eradicated?

I don't think crime must be erradicated through bitcoin, because it has an independent body that will be used for independent spending. The decentralized currency isn't a preference of these criminals and terrorists like as you said ISIS, due to traceability of blockchain transparency. Those unrightful acts of these people who had illegal and devious acts couldn't do at their freedom, because bitcoin cannot be into cash form if not being deposited to the bank or any money transfers establishments, like western union.
aryatrals
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August 30, 2018, 01:54:59 AM
 #38

BTC us getting a much-improved image as US law enforcement acknowledges that BTC criminal use has declined dramatically.

https://forexmarketslive.com/bitcoin-not-the-choice-of-criminals-anymore/
I am amazed at the strict steps of American law enforcement, they can detect the movement of money due to the crime of using bitcoin, all because it is supported by advanced technology, unfortunately that case does not happen in our country, criminals are still comfortable storing bad money in the form of bitcoin currency, maybe law enforcement have not been serious about tracking their illicit money, the government should have begun to emulate American steps,
magneto
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August 31, 2018, 04:16:58 AM
 #39

It has always been a myth that has misled the mainstream way too much over the past few years, which is probably one of the major reasons why adoption has not picked up as much as it could have been as it seems like a lot of people have this distorted image of bitcoin, coloured by mainstream media, as some sort of criminal currency.

The fact is that criminal activity will always be carried out on a particular currency or payment gateway, regardless of what it is. Even government issued fiat is used for criminal activity. But is it the government's fault? Absolutely not. Currencies themselves do not make criminals criminals.

Besides, I'd say that the majority of bitcoin transactions are completely legal and law abiding ever since the bull market of 2013. Regulations are probably stricter here than any other field, and the volume generated via speculation (even though it's not really that positive, but legal) is far greater than the unlawful use of BTC.

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September 01, 2018, 08:20:24 AM
 #40

This is good news, as most countries do not accept bitcoins for this reason.
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