Only a Crime Tool

[pandowoe]

The amount of news on hacking, money laundering, drug trafficking and others that involve cryptocurrency or bitcoin seems to never run out. has become a natural law there are always two sides to this life. There is a right there left, there is a good one that is bad. so also in the world of crypto, bitcoin and others. But we must agree together that all return to their own people, want to use it all for good or evil. So there is no side of crime in bitcoin, because bitcoin is just a tool used. The evil is the human mind that directs it.

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[mk4]

Pretty much. The thing though is, the media is most likely just simply incentivized to release such news, because I assume these types of news gets the most clicks; along with those "bitcoin is dead" or "bitcoin price crashes" articles. The masses will simply not be that interested when the articles are going to be about bitcoin's fundamentals.

[Darker45]

Only the powerful people do not think the way you do. They are labeling Bitcoin as the currency that perfectly fits the mind and acts of a criminal, a currency that effectively conceals the person behind the deals and the wallet addresses. But that is always belied by the available data and statistics. Numbers don't lie. Crimes, may they be international or local, are made possible with the support of money, fiat money.

[joniboini]

Crimes, may they be international or local, are made possible with the support of money, fiat money.

You can use pretty much any cryptocurrency for evil purpose too, but your traces will be there forever in the blockchain. Compared to fiat, your traceability is higher on crypto, which is why it might not suit your purpose unless you mix it or use some stealth techniques, which sometimes cost you higher transaction fees or something like that.

I do think that's inevitable, as long as a human is the one who uses it. What matters more is whether bitcoin or crypto is more sustainable compared to fiat, and which one is more 'sound' to be used as a currency.

[joeperry]

True that the bitcoin was just a tool in order to make evil works or illegal transactions online but come to think of it if there's no such things as cryptocurrency there will be less illegal transactions that may happen online, isn't? but i do like your perspective that it's the human itself that do evil things not the cryptocurrency itself.

[mirakal]

Everything that has a value is a tool, like money, but you can blame it to the tool and bitcoin is a good tool for people to be anonymous that's why the government is keeping an eye on it and putting all the regulations as possible to minimize the risk of illegal activities such as money laundering.

[DoublerHunter]

Yeah, and now the government wants to regulate bitcoin because of those such crimes recently happen through bitcoin and we may consider as a tool they use but the fact is they cant regulate this tool. There are too many factors may affect if bitcoin is regulated, either may cause corruption. Even fiat can use as a tool to do illegal activities or those having a high value like gold can use also not the only cryptocurrency, we can't avoid those crimes. Being a human who uses a tool we must be careful on every transaction had especially on internet that prone to hacking and scam.

[goaldigger]

People will see what they wanted to see and not the truth itself. Bitcoin crimes are just an isolated case like of those other scams which involved a lot of money. Robing a bank, human trafficking, steeling things etc. There are always two sides of story. A man robing a bank, an agency who sells women as prostitues, and a women who stole a hundred dollar worth of jewelry. If people wanted to see only these, they will not be interested on the other side which are a man deposited to a charity, an agency who helps people to get a job abroad for free or a women who returned the lost purse to a man. Bitcoin involves a lot of money and its upto you if you only want to see is its flaws rather than people who already becomes financially stable with it.

[Kakmakr]

100% Correct. We have seen how one of the biggest Ponzi schemes <MLM> started to use Bitcoin as a payment option and how that gave Bitcoin a bad name. Previously all kinds of payment options were used to fund these Ponzi schemes and the media did not blame the Banks or the credit card companies for this, but now that Bitcoin is used for the payment method, it is labeled as the culprit.  

Bitcoin is a currency and economic crimes needs a currency to commit their crimes, so they use Bitcoin as a tool to commit these crimes. Is Bitcoin a better tool for these crimes.... well that is open for debate.  

[Delos]

The amount of news on hacking, money laundering, drug trafficking and others that involve US Dollars and Gold is much much higher. Read the news. Open your eyes!

[coinbitte]

The amount of news on hacking, money laundering, drug trafficking and others that involve cryptocurrency or bitcoin seems to never run out. has become a natural law there are always two sides to this life. There is a right there left, there is a good one that is bad. so also in the world of crypto, bitcoin and others. But we must agree together that all return to their own people, want to use it all for good or evil. So there is no side of crime in bitcoin, because bitcoin is just a tool used. The evil is the human mind that directs it.

Well, you can say that any type of money is a crime tool.

[CBANX Ltd.]

Bitcoin as an asset is not bad or Blockchain as a technology is not bad but on the contrary, the destructive minds of the people make it abusive. As a society, it's our responsibility to use it in an appropriate manner.

[anoufal]

Agreed, human minds were the one that makes anything good or bad. If the mind agonize for good, even the bad things can be used in the right way. When it comes to bitcoin, people who want to say something negative about it will start from the illegal usage of bitcoin and the one who needs to mark good thing about the same will start from the technology advancement. Hope things will change as people realize the good about the tool.

Therefore, it is impossible to blame any currency for the fact that it is used to make illegal transactions, only a person is guilty of this

[deisik]

The amount of news on hacking, money laundering, drug trafficking and others that involve cryptocurrency or bitcoin seems to never run out. has become a natural law there are always two sides to this life. There is a right there left, there is a good one that is bad. so also in the world of crypto, bitcoin and others. But we must agree together that all return to their own people, want to use it all for good or evil. So there is no side of crime in bitcoin, because bitcoin is just a tool used. The evil is the human mind that directs it

And it is not only that

When a plane crashes and dozens of people get killed, it instantly makes the headlines. But virtually no one gives a fuck about many thousands dying everyday in car wrecks because this is not a news, let alone a sensation. It is the same with Bitcoin. When some bastard uses Bitcoin for something like drugs, human trafficking, or whatever, everyone is quick on the trigger. And then again, no one blames US dollars for being used in exactly the same way (and in many other dirty ways) but on a scale by far exceeding illegal operations with cryptocurrencies

[kryptqnick]

The amount of news on hacking, money laundering, drug trafficking and others that involve cryptocurrency or bitcoin seems to never run out. has become a natural law there are always two sides to this life. There is a right there left, there is a good one that is bad. so also in the world of crypto, bitcoin and others. But we must agree together that all return to their own people, want to use it all for good or evil. So there is no side of crime in bitcoin, because bitcoin is just a tool used. The evil is the human mind that directs it.

Not only Bitcoin is just a tool, but there's no other tool that will be magically free from crime. Like people usually say, all kinds of money are used for bad things. But it's not just that. Let's take a look at people with power on both sides. With fiat, let's take the banks, processing pretty much everything and having a lot they can do with the money of people who gave it to them. Since Bitcoin doesn't have banks, let's take wallet providers and exchanges. Banks sometimes go bankrupt, leaving the users with their hand empty. It's not happening often, though. Banks get robbed, just like exchanges. Exchanges might engage in financial crimes like tax evasion, for instance, but banks are bigger money launderers than exchanges/individuals that use cryptos. It's just that the media is often biassed, trying to hide the shocking news with banks and emphasize similar things with cryptos. I bet the banks even pay them to do so in some cases.

[mirakal]

Bitcoin was never a bad thing, it becomes bad to the eye of other people because of the people who uses it for bad and illegal things.

The question here is why are people using bitcoin for illegal activities? Because they know they can launder money with it and they cannot be trace due to lack of regulation, so the answer here is to regulate the crypto market, those exchanges should be strictly monitored and exchanges has to require KYC to their clients so customers can be trace in case they will make an illegal activities with their bitcoin.

[Reid]

Yes. I remembered one local news who made a wrong statement about an investment scam.
The tool used was also bitcoin.
But thanks to social media, the news facebook page had been poured with bashing and different kind madness by bitcoin supporters.
The next day, they corrected it.

It will never stop, we are against something really big and they can make it happen. Also, there is still a larger percentage who doesnt understand what bitcoin really is.

[pawanjain]

What you have described is most appropriate but I would like to add that the concern here is using the right tool for the wrong purpose.
Bitcoin was created to eliminate the man in the middle for performing transactions/payments but hackers and criminals used it for the wrong purpose.
We can't actually do anything about it other than regualting it but then what's purpose of destroying bitcoin's true motive.

[bitsurfer2014]

The amount of news on hacking, money laundering, drug trafficking and others that involve cryptocurrency or bitcoin seems to never run out. has become a natural law there are always two sides to this life. There is a right there left, there is a good one that is bad. so also in the world of crypto, bitcoin and others. But we must agree together that all return to their own people, want to use it all for good or evil. So there is no side of crime in bitcoin, because bitcoin is just a tool used. The evil is the human mind that directs it.

Correct! Its a ridiculous idea to single out Bitcoin being used for illegal activities and this don't make an exception on fiat money being used for same purposes yet no one bothers to blame it or even find concrete solutions! A good analogy for this is the hammer which could be used to build a house or destroy it and I guess it all depends on the intent of its users so we can say that the problem is not the hammer but it is how we use it and in what way it is supposed to be used according to its intended and novel purpose.

[Mr.ZODIAC]

I do not want to say anything bad about cryptocurrency, but I must admit the fact that there are sufficiently large opportunities for abuse of cryptocurrency.  For intruders, cryptocurrency provides very good opportunities for anonymity and the inability to track their name and cash flow.  Perhaps this is why you need to work on increasing control over cryptocurrency.