Bitcoin not the choice of criminals anymore

[Roni116]

Bitcoin is a technology that is very capable of helping regulate finance, bitcoin is not for criminals but bitcoin is for everyone who wants to change their financial situation for the better.

[Ridwan Fauzi]

Due to this reason many countires still not accepting bitcoin as legal. Because the bitcoin money has no tax thats why some people used it for illegal purpose.

Can the government convince that money fiat isn't to be used for illegal transactions? If this is used as an excuse for the government, I guess the government must read all the components about bitcoin, because when compared with money fiat, bitcoin which should be chosen as a secure payment system even can reduce illegal transactions in their country.

[Argoo]

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/

A new study recently conducted in the European Union showed that bitcoin is used with an illegal target in just 0.67 percent of cases. That is, the whole problem with the illegal use of bitcoin is in fact far-fetched. For various illegal purposes, coins with a higher degree of anonymity are used, such as Monero, ZCash and others. Bitcoin is only relatively anonymous.

[crzy]

Due to this reason many countires still not accepting bitcoin as legal. Because the bitcoin money has no tax thats why some people used it for illegal purpose.

Government are afraid of this thing, because they cannot collect taxes from their people and if this thing continues, government will be dead. People are tend to use bitcoin to escape paying taxes, and also people are just want to make good money through bitcoin. Criminals will always find ways to do their business as usual, government can't stop them for sure.

[deisik]

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/

A new study recently conducted in the European Union showed that bitcoin is used with an illegal target in just 0.67 percent of cases. That is, the whole problem with the illegal use of bitcoin is in fact far-fetched. For various illegal purposes, coins with a higher degree of anonymity are used, such as Monero, ZCash and others. Bitcoin is only relatively anonymous.

And this problem was far-fetched and contrived right from the start. Satoshi himself never considered Bitcoin anonymous and untraceable as he uses the term “anonymous” only in reference to public keys in his WP. In fact, the Bitcoin blockchain, the so-called "public ledger", is a perfect tool for forensic analysis. First Bitcoin users like those unbanked from Silk Road and other similar DarkWeb markets may have been too optimistic in this regard and got caught in the end when their transactions had been properly analyzed and scrutinized. And I don't think other coins are totally safe either

As only time will tell if they are truly secure and anonymous in practice

[veleten]

ah the good old  fallacy - bitcoin is not and has never been the choice of criminals
this is similar to saying that chainsaws is the weapon of choice of murderers, just because we see it in horror movies
and there are people killed by it every year, but it doesn't mean that in the grand scheme of things it is in any ways the weapon of choice
same goes with bitcoins -the numbers pale in comparison to fiat when we speak about crime, it is less than a drop in the ocean figureswise
some links:
https://www.ccn.com/terrorists-and-criminals-are-rarely-using-bitcoin-or-ethereum-eu-study-finds/
https://bitcoinist.com/bitcoin-not-good-crime/

[1Referee]

same goes with bitcoins -the numbers pale in comparison to fiat when we speak about crime, it is less than a drop in the ocean figureswise

Bitcoin is the new kid on the block, so it has to be the one that's catching all the trash talk from bitter and skeptical human beings.

I have had numerous discussions to convince people around me that money (whether it's Bitcoin or fiat or Gold) is only a tool and for that reason should never be blamed. Instead, blame abusers, and for instance, governments are the worst ever abusers of money where they use it to fund wars and whatnot. It's a counter argument that's strong enough to convince even some of the most brainwashed average joes.

Another thing is that crime is a very subjective term that's different for each person. Most average joes consider buying and selling weed to be a crime. They consider smoking weed to be a crime. They consider tax evasion to be a crime. I don't consider any of these to be a crime at all. If we take that into account, the actual criminal use (the heavy shit that's bad for real) is negligible. People need to grow a thicker skin and not instantly label others as criminal.

[mornabo]

Crypto is a currency, criminals are humans. Money is used by everyone here on earth. This can be a criminal or can be a honest person, fiat or crypto coins can be used by any. If criminals can not use crypto currencies, what would you say to money launders. Crypto platform has been the most supportive platform for all who convert black money into white money. So this is upto an individuals to use the money. 

Yeah that's what we have to admit that crypto is indeed the right place to money laundering from their corruption because crypto has an anonymous nature which makes all identities undercover, I think there will still be illegal transactions spinning in crypto, we can't hold it back

[nastyagav]

Really? Confirmed?
 

[carlfebz2]

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/

A new study recently conducted in the European Union showed that bitcoin is used with an illegal target in just 0.67 percent of cases. That is, the whole problem with the illegal use of bitcoin is in fact far-fetched. For various illegal purposes, coins with a higher degree of anonymity are used, such as Monero, ZCash and others. Bitcoin is only relatively anonymous.

And this problem was far-fetched and contrived right from the start. Satoshi himself never considered Bitcoin anonymous and untraceable as he uses the term “anonymous” only in reference to public keys in his WP. In fact, the Bitcoin blockchain, the so-called "public ledger", is a perfect tool for forensic analysis. First Bitcoin users like those unbanked from Silk Road and other similar DarkWeb markets may have been too optimistic in this regard and got caught in the end when their transactions had been properly analyzed and scrutinized. And I don't think other coins are totally safe either

As only time will tell if they are truly secure and anonymous in practice

I do even believe that those criminals are truly aware that bitcoin isn't really anonymous on the very first place no matter how they do trust up this coin on earlier days or years since they don't really have any choice which one to use on that time except fiat itself they do know the difference so they do make use of it which its really inevitable but the years goes by if we do really clearly look and investigate I don't know why people do really say about anonymity yet all transactions can be seen on public ledger.

[deisik]

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/

A new study recently conducted in the European Union showed that bitcoin is used with an illegal target in just 0.67 percent of cases. That is, the whole problem with the illegal use of bitcoin is in fact far-fetched. For various illegal purposes, coins with a higher degree of anonymity are used, such as Monero, ZCash and others. Bitcoin is only relatively anonymous.

And this problem was far-fetched and contrived right from the start. Satoshi himself never considered Bitcoin anonymous and untraceable as he uses the term “anonymous” only in reference to public keys in his WP. In fact, the Bitcoin blockchain, the so-called "public ledger", is a perfect tool for forensic analysis. First Bitcoin users like those unbanked from Silk Road and other similar DarkWeb markets may have been too optimistic in this regard and got caught in the end when their transactions had been properly analyzed and scrutinized. And I don't think other coins are totally safe either

As only time will tell if they are truly secure and anonymous in practice

I do even believe that those criminals are truly aware that bitcoin isn't really anonymous on the very first place no matter how they do trust up this coin on earlier days or years since they don't really have any choice which one to use on that time except fiat itself they do know the difference so they do make use of it which its really inevitable but the years goes by if we do really clearly look and investigate I don't know why people do really say about anonymity yet all transactions can be seen on public ledger.

I see your point, and it may well be the case

With that said though, I can't agree that they didn't have a choice, at least not in the sense you mean, and yes, I understand what you mean. While Bitcoin is not anonymous "out of the box", you can still heavily obfuscate its usage and massively impede tracing down transactions to their real sources. Although there were no Bitcoin mixers back then (as far as I know), you could still achieve pretty much the same effect manually. The bottom line is that if those Silk Road criminals knew what had been awaiting them, I think they would have avoided the consequences of their negligence in questions of safety and security, if not fully but still enough to get away mostly unscathed

[DavidNiva]

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 !

in a country that has a lot of corruptors, the ownership of bitcoin is a priority scale in the supervision of law enforcement, for now it is not an option to save money in the form of bitcoin, maybe in the future there will be certain regulations for businesses not to abuse the convenience of the currency features krypto, to do business that violates the law.

[deisik]

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 !

in a country that has a lot of corruptors, the ownership of bitcoin is a priority scale in the supervision of law enforcement, for now it is not an option to save money in the form of bitcoin, maybe in the future there will be certain regulations for businesses not to abuse the convenience of the currency features krypto, to do business that violates the law.

Why do you think it is not an option?

In corrupted countries even the corrupted will be using means of evading law enforcement (which is also corrupted, by definition), and in this department Bitcoin feels pretty good when compared to keeping naked fiat. Yes, it is volatile (but things may have changed already), but unlike gold (another option), it is not such pain in the ass and doesn't take a lot to hide it almost without trace. In fact, Bitcoin is totally legit (I mean justified) for saving, especially if your goal is actually to save your wealth, not to multiply it, and you are ready to pay a certain fee or percentage for that. Here I mean what you may have to pay for hedging against volatility. On the other hand, you can employ volatility to your advantage if you choose so, and then you won't have to pay anything and can even earn a little

[chickenado]

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 !

in a country that has a lot of corruptors, the ownership of bitcoin is a priority scale in the supervision of law enforcement, for now it is not an option to save money in the form of bitcoin, maybe in the future there will be certain regulations for businesses not to abuse the convenience of the currency features krypto, to do business that violates the law.

Every currency can be used in some criminals activities, in cryptocurrency form or in fiat because we don't have control over it criminal mind is always look for an opportunity to do illegal activities all form currency js no exception,so don't be bother with  this issue.because money is a source of evil.

[DavidNiva]

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.

criminals transact using bitcoin is a stupid thing, because every transaction is recorded on the blockchain, it becomes very transparent, do criminals want to do something like that? using an issue like this might only aim to block the rate of bitcoin and to drop the value of bitcoin, but we can see the rate of bitcoin where it can't be blocked, let alone stop,

[deppil]

Surely it is not.
Nicely explained by everyone in top.
I hope this can open the eyes of the world and become a cause of widespread acceptance of bitcoin by various countries.

If the government can control crypto users then there will be no more criminals and illegal transactions in cryptocurrecy but of course that will eliminate the decentralization in crypto right? first it will be difficult to do because in what way does crypto be centralized? secondly if decentralization can be lost, the user will be less interested

[ningrumxxi]

Perfect!!!

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

The problem may be in every country starting to implement a strict regulatory system, and with blockchain systems it is easier for law enforcement agencies to track the flow of crime funds that flow where and will make it harder for criminals to hide money from their crimes, because blockchain records the movement of bitcoin anywhere in the world, this is why crime is difficult to use bitcoin.

[Tigorss]

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 hope this can be a start for bitcoin to be accepted and many people can start to learn and believe that crypto currency is more efficient and simpler to be use.

[buwaytress]

And then every now and then we get idiots given undue prominence for their research. Financial analysts they may be, but to use the really tired thread of Bitcoin = crime: http://www.atimes.com/article/north-korea-succesfully-using-cryptos-to-evade-us-sanctions/

Here's the quote from the latest experts to surface: “International criminals everywhere prefer crypto-currencies and the DPRK is no exception."

Since when did getting around the restrictions of bullies become a crime anyway? You starve a nation, cut it off from the rest of the world and impose impossible rules on them, you expect them to just sit still and smile? If there are any monsters, they were created by this systematic dehumanisation of countries like these..

[1NV3ST0NM3]

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.

KYC norms however strictly implemented cannot eliminate the dark use of bitcoin absolutely from the scene. Criminals everywhere may find a way out to give fuel to their selfish motives. In fact, criminals lately have been using the crypto market in abundance of their transactions because no responsibility can be fixed here and it is easy to escape from the responsibilities.

Well as the facts n figures suggest that the use of the bitcoin on this side has considerably declined, then it is surely a positive kick start to a better crypto world. Let's just hope the situations stay well in control!