76% of dark market using Bitcoin

[BitValve]

FIAT currency (CASH) was/is and will remain the king regarding illegal transactions. The fact that many bitcoins are being used on illegal transactions, has nothing to do with bitcoin itself. Bitcoin is something revolutionary and it will depend on how people will use it.

[vintages]

So, how and where do they actually conduct this research to get this figures?
I feel this article is another way to paint Bitcoin black indirectly.
Truth is, those in the dark web have always preferred Monero to Bitcoin. Reason? It's because they believe that Bitcoin is traceable unlike Bitcoin. Monero has nor privacy than Bitcoin an it's difficult for an outside observer to trace the source.
Those criminals are very smart. Why would they want to risk it?

[AmoreJaz]

So, how and where do they actually conduct this research to get this figures?
I feel this article is another way to paint Bitcoin black indirectly.
Truth is, those in the dark web have always preferred Monero to Bitcoin. Reason? It's because they believe that Bitcoin is traceable unlike Bitcoin. Monero has nor privacy than Bitcoin an it's difficult for an outside observer to trace the source.
Those criminals are very smart. Why would they want to risk it?

i dont think we need to trust those figures as we dont know the authenticity of their source. another black propaganda for bitcoin? who knows? but in any case, they cant bring down the popularity of bitcoin or the usage of it.
we already passed so many struggles of adoption yet crypto or btc users are growing everyday...

[Reid]

If it is so private, then how come they can still tell how much percentage it is.
From holders and also the circulating bitcoin outside this forum? That is a large quantity if you will keep on monitoring it all.
It wont be that easy.

They are just guessing it all. There is no way to trace it. There is no information about some holders and some left their wallet and other in their computer.
It cannot be accurate.

[Questat]

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i dont think we need to trust those figures as we dont know the authenticity of their source. another black propaganda for bitcoin? who knows? but in any case, they cant bring down the popularity of bitcoin or the usage of it.
we already passed so many struggles of adoption yet crypto or btc users are growing everyday...

We might say this as another black propaganda but we can't deny that some big transactions are using crypto not to find it not traceable with the other. Yes, there is a transaction record in the blockchain but can we know whos that guy doing such transaction? Of course not and we can't halt such transactions.

We are in the wide market adoption and it was sad that crypto is used to spread and continue illegal activities which ruin the reputation of Bitcoin.

[sehoon]

I think if the government act on this problem, they can lessen that 76%. They don't have to focus on the modes of payment of the illegal things but instead, they must intercept the people and the products outside the dark web. I'm pretty sure they can't use internet if they are behind the bars.

[rodel caling]

We are in the wide market adoption and it was sad that crypto is used to spread and continue illegal activities which ruin the reputation of Bitcoin.
[/quote]



you are right there but many people use bitcoin or crypto currency for the right purpose. but we cannot prevent the use of bitcoin illegally, because it is difficult to identify the identity of its creator, especially for people with malicious intent because bitcoin is anonymous currency that's one of the reason want government regulate the bitcoin because the want to avoid use it into crime by using kyc.

[1Referee]

Yes, there is a transaction record in the blockchain but can we know whos that guy doing such transaction? Of course not and we can't halt such transactions.

One way or another, coins will eventually be sold on the market for fiat. In most cases it doesn't pay off for authorities to chase down those who had these coins in their possession before the person who sold them, but when the crime is severe enough, or there is a whole network they can shut down at once, they will definitely go for it.

The fact of the matter is that the authorities are more adapted to the workings of crypto and how to analyze value movements than most of the people here.

And of course, no one can halt transactions, which is why Bitcoin is such a powerful tool, but authorities don't need the ability to halt transactions when they with a high degree of certainty eventually find out who you are anyway.

[Oceat]

I know I've actually seen some guys on YouTube buying parcels from the Dark Web using Cryptocurrency such as Bitcoin, no telling if it's actually real but still tells me that BTC is very popular on those sites.

If you ever wonder how it is being popular on the black market you might wanna know the silkroad story. Bitcoin has been used already in the black market as a way of transaction since no one could ever trace the owner of the said funds. Unlike banks where you have to put your complete details so that the authorities can trace you back if there is something wrong.

[ene1980]

Monero is also a good privacy coin, and they are taking advantage of the privacy of it to operate in the dark world but that was not the main intention of monero, so we cannot leave monero also to be lost in the darknet and get its name tarnished, all I see for in this cryptocurrency market is regulation and that would put an end to those challenges.

People in the dark market also wants privacy and if they are using Monero what is wrong in that  , not every market is about drugs and weapons sale and all sort of things, but majority are made to sell those and if they select Monero as their main currency, no one can stop that, the regulators will force exchanges to stop all these privacy coins not because it will be used in dark markets but the authorities does not like privacy in general.

[mitchr4]

I think if the government act on this problem, they can lessen that 76%. They don't have to focus on the modes of payment of the illegal things but instead, they must intercept the people and the products outside the dark web. I'm pretty sure they can't use internet if they are behind the bars.

The owner of the dark web site is anonymous, we don't know who is behind it. It's the same when we trade Bitcoin with other people we don't know who he really is. I think the government will be difficult to find them.
There are many types of the dark web such as buying and selling drugs, other illegal products, and criminal services. It is impossible for the owner of the dark web to give out their identity easily because they will deal with the law.

[alexcopper]

I think if the government act on this problem, they can lessen that 76%. They don't have to focus on the modes of payment of the illegal things but instead, they must intercept the people and the products outside the dark web. I'm pretty sure they can't use internet if they are behind the bars.

The owner of the dark web site is anonymous, we don't know who is behind it. It's the same when we trade Bitcoin with other people we don't know who he really is. I think the government will be difficult to find them.
There are many types of the dark web such as buying and selling drugs, other illegal products, and criminal services. It is impossible for the owner of the dark web to give out their identity easily because they will deal with the law.

Could blockchain forensic companies like Ciphertrace be able to track this info with their tech?

[LUCKMCFLY]

CipherTrace just published their Q2 Cryptocurrency AML Report and found it interesting that Bitcoin still reigns king in dark markets and cybercrime. Most people associate privacy coins even just 4% involve Monero.

Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.


https://ciphertrace.com/q2-2019-cryptocurrency-anti-money-laundering-report/

It should be noted that the fact that they are operating there does not mean that everything is for crimes or bad things, the site is very diverse, one of the reasons why Bitcoin sometimes rises in December is because the demand increases in the DeepWeb , and it is because they make many purchases, but currently this increase may be given to ensure anonymity and privacy.

Monero is a currency that is impossible to track and in the DeepWeb or dark market there will always be quick solutions to the complications offered by some traditional markets while maintaining privacy.

[fiulpro]

At the same.time you should understand that now wallets are strictly giving orders to get your KYC done and due to that that number is gonna fall drastically.
Yes 76% of the dark market may use it .. but if we use the right brains we could actually track them down using bitcoins only ... Let's be honest ...it's not private... It only hides your identity 50% , if someone is intelligent enough he could actually reverse track everything and it could actually bring the market down ... .
There is no way that I see if people deal in cash ... No way unless every single note and coin is equipped with tracker.

[LogitechMouse]

CipherTrace just published their Q2 Cryptocurrency AML Report and found it interesting that Bitcoin still reigns king in dark markets and cybercrime. Most people associate privacy coins even just 4% involve Monero.

Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.


https://ciphertrace.com/q2-2019-cryptocurrency-anti-money-laundering-report/

I'm not surprised that crypto has been used in dark market but to use Bitcoin instead of some privacy coins like Monero, maybe most of them only knows Bitcoin and not those privacy coins that is why they are only using Bitcoin.


Not surprising because anything that has value can be use in good or bad things. This will increase in the next years for sure.

[bitcon]

I've always thought more people who dealt with dark markets didn't adopt Monero because they wanted to be able to cash out as quickly as possible.

If absolute privacy is important, it seems like a fair tradeoff to me.

Using Bitcoin becomes almost a traditional form of all financial operations, and certainly, the dark market uses it to stay anonymous. Those countries, which ban BTC to stop illegal operations, do not get the needed results. On the contrary, criminals and hackers become too inventive.

Besides, the dollar is still the #1 currency for all operations, including the activity of dark market representatives.

[zviadits]

Unfortunately, Bitcoin has become indispensable for the black business. Using Bitcoin, criminals protect themselves but, I think that in any case, the Dark Web will live whether Bitcoin exists or not, so you need to take it for granted

[Tylev]

CipherTrace just published their Q2 Cryptocurrency AML Report and found it interesting that Bitcoin still reigns king in dark markets and cybercrime. Most people associate privacy coins even just 4% involve Monero.

Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.


https://ciphertrace.com/q2-2019-cryptocurrency-anti-money-laundering-report/

I do not think that these statistics are real. In the USA and the European Union, studies have already been conducted on this subject and it has been established that up to ten percent of bitcoin was used for illegal purposes. The reason for this is only the relative anonymity of bitcoin. But coins with a high degree of anonymity - Monero, Zcash, Dash were used much more often. Therefore, the Japanese government has long banned the use of these coins.

[Janation]

Unfortunately, Bitcoin has become indispensable for the black business. Using Bitcoin, criminals protect themselves but, I think that in any case, the Dark Web will live whether Bitcoin exists or not, so you need to take it for granted

Bitcoin is not that anonymous though, it is pseudo-anonymous.

Despite the fact that it is one, it can still be tracked. People can still find ways to track its users as long as you know what you are doing. As a proof of that, there are some people that is caught transacting Bitcoin in the Dark Web. They have their ways to hide their identity but they can still be tracked.

[Free1bitco.in]

I think this is a common thing. even people are always exaggerating it. in the real world, fiat is also used as a tool for transactions, even for illegal transactions. however, you can still track the use of bitcoin even though it is used for the dark web.

besides, it is natural that people use bitcoin as a transaction tool, because it results in transactions that are very fast, and cannot be manipulated. if 76% uses bitcoin, the rest can use other currencies.

Well, as long as it's valuable and valuable, there will be opportunities for people to use it as a transaction tool even on the dark web.