Bitcoin not the choice of criminals anymore

[FXTradingPro]

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/

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[Flor1982]

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.

[BasttikKosterr]

Until the Bitcoin Community becomes a SAFE HAVEN for all crypto traders.

[Aikidoka]

Added to what you have said, the Media also plays a major role in changing the public's opinion which I believe to be a sort of manipulation. The media is powerful and it is against cryptocurrency. We noticed that it also spread negative feedbacks about bitcoin as well as false predictions so people give up on it or be afraid so they would sell their coins and avoid taking risk. It is also noteworthy that big whales are manipulating the price as they want.

[hugeblack]

It was only five short years ago that the majority of bitcoin transactions involved a criminal element. That number has now dropped to less than 10% of BTC transaction. This was revealed in a recent Bloomberg interview with a DEA official.

I do not know how these studies were done, and how criminal elements were identified? But I totally agree that the rate of bad use has fallen.
I think the main reason for this shift is the encouraging heights 'bitcoin up to 19000" and the positive news "Media effect".

The other thing is how will legislation be prepared for all cryptocurrencies since many of it have been used for dark activities and money laundering? The standards of financial institutions also lose the structure of decentralization.

A 90% drop in the illicit use of Bitcoin will have an immense impact on lawmakers and open up those who might have been previously for an all-out crypto ban.

Even if these numbers are true, It will not has an impact on lawmakers, it just means that "Bitcoin is not bad".

[BitHodler]

The media is powerful and it is against cryptocurrency. We noticed that it also spread negative feedbacks about bitcoin as well as false predictions so people give up on it or be afraid so they would sell their coins and avoid taking risk. It is also noteworthy that big whales are manipulating the price as they want.

The mainstream media outlets are not against crypto. They absolutely love it with how much interest it generates. The only thing they are doing is adjust their reports based on the sentiment of the market.

Back in the days people by default assumed that Bitcoin was a scam or ponzi scheme, which has drastically shifted with how people are using to find out what Bitcoin really is.

If the mainstream audience starts picking up on Bitcoin positively, the media outlets follow the trend and start hyping it up. It works both ways though. In good or bad times, their only motive is to generate income.

Bitcoiners are too easily triggered into thinking that the entire world is against them. Relax.

[loyoung]

Perfect!!!

I hope this can open the eyes of the world and become a cause of widespread acceptance of bitcoin by various countries.

[Quidat]

The media is powerful and it is against cryptocurrency. We noticed that it also spread negative feedbacks about bitcoin as well as false predictions so people give up on it or be afraid so they would sell their coins and avoid taking risk. It is also noteworthy that big whales are manipulating the price as they want.

The mainstream media outlets are not against crypto. They absolutely love it with how much interest it generates. The only thing they are doing is adjust their reports based on the sentiment of the market.

Back in the days people by default assumed that Bitcoin was a scam or ponzi scheme, which has drastically shifted with how people are using to find out what Bitcoin really is.

If the mainstream audience starts picking up on Bitcoin positively, the media outlets follow the trend and start hyping it up. It works both ways though. In good or bad times, their only motive is to generate income.

Bitcoiners are too easily triggered into thinking that the entire world is against them. Relax.

You cant blame the community on how they would think and after all the FUDS and Shills out there you cant really say that you would entire trust the media and as being said they can add up or neither decrease informations if they wanted too. This is why most people when they hear out some news they do already expect negativity against bitcoin or the entire crypto itself. The difference nowadays compared to earliest years into bitcoin is about the decrease of criminality due to the fact regulations is starting to take involvement and users will definitely be alarmed if they tend to do illegal act carelessly.

[Spaffin]

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.

Your reasoning is not entirely true. The KYC test is purely a preventative measure. She does not fight crime directly. Commands ICO, exchanges and exchangers can not determine who the criminal is and who is not. Simply gather information about persons trading crypto currency. When something happens in the future, law enforcement agencies will be able to use this information in future to reach out to criminals. How often does this happen? No. Therefore, this verification of KYC virtually does not solve anything. At the same time, it is actually a continuous control over financial activities of citizens. Checking KYC does more harm to the rights of citizens than helping to fight crime.

[Kemarit]

The media is powerful and it is against cryptocurrency. We noticed that it also spread negative feedbacks about bitcoin as well as false predictions so people give up on it or be afraid so they would sell their coins and avoid taking risk. It is also noteworthy that big whales are manipulating the price as they want.

The mainstream media outlets are not against crypto. They absolutely love it with how much interest it generates. The only thing they are doing is adjust their reports based on the sentiment of the market.

Back in the days people by default assumed that Bitcoin was a scam or ponzi scheme, which has drastically shifted with how people are using to find out what Bitcoin really is.

If the mainstream audience starts picking up on Bitcoin positively, the media outlets follow the trend and start hyping it up. It works both ways though. In good or bad times, their only motive is to generate income.

Bitcoiners are too easily triggered into thinking that the entire world is against them. Relax.

Exactly, I still remember a lot of garbage post early 2017 and portraying bitcoin in a negative way and even Gold fanboy websites is also attacking crypto at every angle. And they quickly shifted the tone when the massive bull run started getting a lot of clicks on them in return and generated a lot of income. LOL. Perhaps the criminals stop using bitcoins when the law enforcement started to clamp down on them and scanning every blockchain transaction for evidence. Most of them might be using privacy coins though, at but least the stigma that bitcoin is being used by criminals have been cleared by authorities, so its a welcoming news.

[Lancusters]

I have never seen examples of criminals often using bitcoin for criminal purposes. I think they were just fakes. Now, when the popularity of cryptocurrencies has sharply decreased, these fakes do not make sense and they are no longer supported and distributed.

[carlfebz2]

I have never seen examples of criminals often using bitcoin for criminal purposes. I think they were just fakes. Now, when the popularity of cryptocurrencies has sharply decreased, these fakes do not make sense and they are no longer supported and distributed.

Don't know where have you been and i don't know why you do reach up Sr. member and you didn't able to see those examples since you had mentioned you never seen of examples.
If you do able to see on all negative or illegal usage of bitcoin in the market then you wont say this thing. I wont mention 1 by 1 but you can actually make a research.
Monero would be the best choice when it comes to total anonymity.

[1Referee]

I have never seen examples of criminals often using bitcoin for criminal purposes. I think they were just fakes. Now, when the popularity of cryptocurrencies has sharply decreased, these fakes do not make sense and they are no longer supported and distributed.

I somewhat agree and have to point out that the mainstream media and the average joes also think that you're a criminal when you buy $5 worth of weed. You have done absolutely nothing wrong, but you're a criminal in their opinion. In that regard, we can safely assume that the criminals that's being referred to are mostly people buying drugs to have a good time. The rest of the actual criminal use of Bitcoin is definitely there, but it's negligible.

People don't realize how dangerous it is for criminals to actually use Bitcoin (or basically any other crypto) as means of exchange. The risk of getting ripped off your Bitcoins during a large transaction is greater than the transaction being settled without any problems.

[sunsilk]

I have never seen examples of criminals often using bitcoin for criminal purposes. I think they were just fakes. Now, when the popularity of cryptocurrencies has sharply decreased, these fakes do not make sense and they are no longer supported and distributed.

If you learn and study the history of bitcoin it has been used by criminals before.

Read this article it will help you.

Silk Road administrator sentenced, corrupt agent rearrested

[Ridwan Fauzi]

This reason really makes sense,

If the mainstream audience starts picking up on Bitcoin positively, the media outlets follow the trend and start hyping it up. It works both ways though. In good or bad times, their only motive is to generate income.

The media isn't like cryptocurrency as a whole, they just try to make an income with every moment who come to cryptocurrency. If cryptocurrency is at the peak of popularity, they will make more news that attracts everyone to jump into cryptocurrency, and otherwise. Most media isn't really neutral on something, I mean they don't just make news about the negatives that are on cryptocurrency but they also have to be able to provide a positive understanding of people about cryptocurrency.

[izanagi narukami]

It's reasonable since bitcoin value still volatile until now, more government against cryptocurrency as they are not going to legalize it anymore.

Meanwhile my government still optimistic that cryptocurrency still can be the advantage for our criminal because it can be use for corruptor to cover their transaction track record !

[jseverson]

So I searched around for more sources about this, and it seems like this drop in percentage of criminal use is being taken out of context:

That’s not to say that fewer criminals are using bitcoin to fund their illicit activities. Infante said that the volume of criminal transactions has “grown tremendously” but that the ratio has rapidly shrunk as cryptocurrency has matured into a more mainstream asset class. Illicit activity, she said, has been replaced by another use case: speculation.

The decrease in the percentage of criminal use doesn't mean criminals don't use it anymore, it just means it's being used far more for legitimate purposes.

If nothing else, I guess that implies that adoption is growing, so it's still good news. I do wonder how they're able to determine which transactions are criminal in nature though.

[Gozie51]

I understand this topic to mean that the good use of bitcoin outweighs the criminal intent because in the past, people who were using bitcoin were doing so to conceal their loots and illicit financial transactions. Of course such illicit transactions still persist and will continue but the number of people using it for better purpose keeps growing. Is just as laws have been made against drug dealing but they are still around the society.

[CoinEraser]

I understand this topic to mean that the good use of bitcoin outweighs the criminal intent because in the past, people who were using bitcoin were doing so to conceal their loots and illicit financial transactions. Of course such illicit transactions still persist and will continue but the number of people using it for better purpose keeps growing. Is just as laws have been made against drug dealing but they are still around the society.

That's how I understand it too. In itself, I find this news good, but for me personally, nothing changes. This has not been a reason for me why I should not use Bitcoin. I did not care about the fact that illegal things can be done with it, because I do not want to know how many illegal things are made with normal fiat money. Fiat money is also used every day for illegal matters worldwide. Nevertheless, I and many other people use it anyway. So i see it as no problem that bitcoin is also used for illegal activities.   

[Theb]

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. 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.