900,000 illegal bitcoins.

[kemoglo]

It's very possible that our coins are already mixed with illegal coins those were marked on the addresses. You never know.

Does this worry you much?
It doesn't for me.

When we deal with cash, we do not know the source of that cash whether it came from an illegal or legal source one hand before me. I think the Bitcoin hatters are very active to plant the seeds in our head some day we will be in trouble. There will be time when we will not have these centralized exchanges with centralized fiat, there will be a time when we will not have any centralized financial system. Wait for those days.

PS: I am not encouraging those illegal Bitcoin traders by any means. I just think that nothing can stop Bitcoin.

The thing here is that, because bitcoin has accountability some people seem to think that stained bitcoin might stain the chain, but I think your argument is great, in the sense that, just because cash isn't as accountable as btc, doesn't mean we can't make the same argument for it, if we as humans really cared about people misusing our means of exchanging goods, we'd take down 90% of all US dollars because there's cocaine traces in that many bills.

If that doesn't stop the USD, believe me it won't stop bitcoin either, this accountability will instead help bring justice, more so than cash ever did anyway

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[erikoy]

This is why bitcoin was tag as scam.because of these people using bitcoin as a means for their scam activities. No wonder why government did not approve bitcoin due to the feature that is not compatible to the government system and at the same high risk for the community consumption. Aside from that abuses may going to happen but hoping that one day these abuses will stop and ways will be determine how to do it.

[Krubster]

Point is?

Most of your paper money in your leather wallet have probably been involved in some illegal activity at one point. The only difference is bitcoin is traceable, physical fiat is not.

If you, or the government, for some reason want to trace your money, you/they should embrace bitcoin.

[Krubster]

This is why bitcoin was tag as scam.because of these people using bitcoin as a means for their scam activities. No wonder why government did not approve bitcoin due to the feature that is not compatible to the government system and at the same high risk for the community consumption. Aside from that abuses may going to happen but hoping that one day these abuses will stop and ways will be determine how to do it.

This and your latest posts sounds awfully much like an automated posting bot. Care to share something insightful?

[Wexnident]

They aren't necessarily held on wallets, right? That's just basically the tally of illegal BTC they found but said BTC has already spread over various wallets of others through mixers and other methods right? Well, not that I care much tbh. It's not like knowing about them changes the fact that they are illegal, and even if they were to be owned by me, it's not like I wouldn't be able to use it in the end. Plus, if they were able to send said coins to exchange and made me able to receive it, it already states that said coins are wiped clean, or even if it wasn't and just managed to slip the surveillance, then it isn't really my fault that it ended up on me. They can freely check transactions history for that after all.

These are all confirmed? I wonder how this site gathers the data to that they really know that the Bitcoin is used in relation to criminals. This is not a small amount of Bitcoin. but compared to the whole supply of BTC, it may be only several percentages. however, it will also influence the market flows if it hits the market.

I suppose they are confirmed, one way or another, or else they wouldn't list records of said illegal Bitcoins. That, or just a part of it is true, but it shouldn't deviate from that I suppose (that is, considering this is everything that was confirmed to be illegal). It is a small amount, yes, but they could still influence the market albeit temporarily by dumping a huge number at one time.

[meanwords]

Point is?

Most of your paper money in your leather wallet have probably been involved in some illegal activity at one point. The only difference is bitcoin is traceable, physical fiat is not.

If you, or the government, for some reason want to trace your money, you/they should embrace bitcoin.

The point is that once this coins hit the market, it will really hit hard enough to plunge Bitcoin again. I don't know if you know this but even 2% of those coin would make a panic selling. Remember the 13,000 Bitcoin Scam? The time where Bitcoin is trading $10,000 but dived to $4,000 because of the scam, that is most likely will happen. That could potentially make another bear run for a long time.

[maxreish]

Who knows? If those bitcoins used from illegal activities are now circulating and been using by others now. In that case, no matter where it came from it is still bitcoin that is decentralized. Thus, the source is untraceable.

Huge percentage used by dark markets, paying as bitcoin for illegal things and then it recirculate. I know the essence of this thread that OP wanted us to understand is that the increasing numbers of bitcoin is being used in other activities such of these instead of the supposed real purpose why it was created in the first place.

[witcher_sense]

At least 870,000 bitcoins are associated with illegal activities. This is about $ 10 billion.

• Darknet marketplaces - 585,000 BTC.
• Stolen bitcoins - 204,000 BTC.
• Scam project organizers - 98,000 BTC.
• Other illegal activities 3,000 BTC.

Is it considered illegal to buy legal stuff on darknet marketplace? What if I buy some book, for example, that is legal in my country and illegal in the US? Would it make bitcoins, which I used to buy a book, illegal in US? From my perspective, these bitcoins were never used in illicit activities, but Chainanysis says that my bitcoins are illegal. I am confused.

What if I want to absolutely consciously donate my money to scammers? It is not illegal to send transactions whoever I want, right?. Is it also considered illegal? Why chainalysis should have an ability to censor and judge my decisions? I didn't vote for them and consider their activities illegal and amoral, they violate my human rights.

[Insanerman]

~
One day, all these bitcoins will somehow hit the market.  

This doesn't matter at all. It is already hitting the market dude and we can be holding now a scammed bitcoin. But then again it's too unnecessary to know where your holding are from, as it is only a currency, a money, and not a thing that has your name or records its past. Are you even sure that the bitcoins you hold right now isn't from any other illegal activities from the past nor had been generated illegally? Or should I say, is there anything illegal in the aspect bitcoin and cryptocurrencies?

hence, whatever those Bitcoins are from. It is just money, nothing more, nothing less.

[samcrypto]

One day, all these bitcoins will somehow hit the market.  

Those are bad history of bitcoin and that amount will continue to circulate for whatever reason.
That scam or fraud already affects the price of bitcoin and right now we are moving on and continue from reaching many people as much as we can. Most of those illegal bitcoins can't retrieve anymore but some of those was able to track and sue the people behind it. The scam activities will continue to exist at any market so keep this in your mind and always think to become more effective with your bitcoin.

[GideonGono]

One day, all these bitcoins will somehow hit the market.  

It's very possible that our coins are already mixed with illegal coins those were marked on the addresses. You never know.

Does this worry you much?
It doesn't for me.

When we deal with cash, we do not know the source of that cash whether it came from an illegal or legal source one hand before me. I think the Bitcoin hatters are very active to plant the seeds in our head some day we will be in trouble. There will be time when we will not have these centralized exchanges with centralized fiat, there will be a time when we will not have any centralized financial system. Wait for those days.

PS: I am not encouraging those illegal Bitcoin traders by any means. I just think that nothing can stop Bitcoin.

True there is a huge possibility that those illegal Bitcoin are already mixed up on the market,
We don't know how many of those Bitcoin are already circulating on the market who knows maybe half or more of it are already on the market.
They could sell it little by little so that we wouldn't feel the impact of the dump.

[Debonaire217]

It's very possible that our coins are already mixed with illegal coins those were marked on the addresses. You never know.

This is the first thing I think about after reading OP. But I think the possibilites of us associated with illegal activities just because our bitcoins mixed with some that are marked used ilegally is unlikely. Perhaps, different countries have different regulations and jurisdiction, keeping track of the illegally marked bitcoin will be too hard, plus, we have already underwent KYC's for sure, and some of local exchanges have already implemented systems that could block bitcoin that restricts their TOS or rules.

[darewaller]

It’s quite possible that you might have used illegal bitcoins in one or the other , but you wouldn’t be aware of that. I have seen exchanges block people’s account with claims that they are holding illicit BTC funds, and then ask them for a proof.

We just don’t know it, you can’t tell where your coins are coming from, you don’t know how the sender got it... Unless you’re always buying direct from centralized and legit exchanges. If not that, then you likely might get one of those and if you try to move it to a centralized exchange they will probably detect it and lock your funds, and you will then have to answer for what you don’t know about.

[desticy]

I wonder what the site defines as illicit/illegal activities. What laws(in relation to countries transaction origins?) are they based on? And how did they really determine this? Did they factor in the deflationary nature of Bitcoin? 1 BTC in 2010 would be worth alot more today... When did this research take place, by the way?
Can thesame method be used to determine how much of physical/digital fiat currencies and precious metals are used for illegal activities... maybe from 2015 till now? Just want to know if the research is reliable and can be repeated with good results. Also to  compare the illicit transactions to other currencies and determine how bad things  are.

In order to qualitatively analyse information of this kind, it is necessary to have data on dark net wallets, such databases probably exist. But if we consider that various services always change wallets to new ones for anonymity, then it turns out that we have far from complete statistics. By the way, it is interesting how the bitcoins that have passed the mixer are determined and what is the attitude of this statistics to bitcoin mixers.

[bitbunnny]

Somehow it's so hard to free Bitcoin from this scam and illegal stuff reputation. Although fiat money is involved in all kinds of criminal activities from money laundering to terrorism financing, everyone is always pointing to Bitcoin
Yes, Bitcoin has been used on dark web (now replaced with Monero) and in illegal activities mainly because of better anonimity compared to fiat. But Bitcoin is much more than that, criminal and illegal activities are not defining it and it has much more.good sides than bad sides.

[reliable]

This is why bitcoin was tag as scam.because of these people using bitcoin as a means for their scam activities. No wonder why government did not approve bitcoin due to the feature that is not compatible to the government system and at the same high risk for the community consumption. Aside from that abuses may going to happen but hoping that one day these abuses will stop and ways will be determine how to do it.

Because of such illegal activities few governments might just not be in situation of approving it or making them as a legal status as they fear that it will give more rise to such activities. But this is also unfortunate as those who are interested to make the best use of it in right way could not do it because it is banned in their country. Also, the hackers after hacking asked for the bitcoin a money which make it more dangerous.

[MCobian]

I'm sure illegal Bitcoin has entered the market, and maybe we all have already bought it. Because in my opinion it's difficult
find out the source of Bitcoin in the market from where. So it is difficult to separate between legal Bitcoin and illegal Bitcoin.
Not only Bitcoin, even fiat is also widely used for illegal activities. So we don't need to worry about things like this, because
it has no effect on the market. Investors don't care where Bitcoin they buy from.

[Lucius]

When we deal with cash, we do not know the source of that cash whether it came from an illegal or legal source one hand before me. I think the Bitcoin hatters are very active to plant the seeds in our head some day we will be in trouble. There will be time when we will not have these centralized exchanges with centralized fiat, there will be a time when we will not have any centralized financial system. Wait for those days.

The fact is that more and more crypto exchanges are implementing some form of monitoring and analysis of the origin of BTC, which in itself would not be bad if it can prevent illegal activities. But it’s also a fact that the average user (and some more advanced ones) can hardly determine if their BTCs have ever been to some blacklisted address.

Cash, however, is something else entirely - unless the banknotes are not marked (serial numbers in a database), anyone can literally use such cash for anything without any fear, so I guess cashiers won’t be CSIs to discover the origin of the money.

The days will come, but how many days will it take - or rather the years for the financial system to become decentralized? I'm not a pessimist by nature, but the system is very firmly rooted and hard to change - at least I haven't heard any serious politicians or bankers talk about it yet.

[ene1980]

The days will come, but how many days will it take - or rather the years for the financial system to become decentralized? I'm not a pessimist by nature, but the system is very firmly rooted and hard to change - at least I haven't heard any serious politicians or bankers talk about it yet.

For a financial system to become decentralized, it will be a dream as the politicians will not like that to happen, do you really think that they really want a transparent system, not in a light years and you will not hear any politicians or banker talking about having a transparent decentralized system.
The problem with all the exchanges monitoring the coins is that if the coins are coming through mixers then they might mark those coins and they might even confiscate the coins asking for the source.

[kawetsriyanto]

At least 870,000 bitcoins are associated with illegal activities. This is about $ 10 billion.

900000 BTC is around 4,25% and more of the total supply of Bitcoin 21.000.000.
Well does it really influence the market with that percentage? Moreover, will they enter the market suddenly at one time?
We don't even know where the BTC is now and we also do not know whether they still keep the BTC or turn it into cash. Probably they are some of the whales. but probably they are also using it only for converting to cash money easily in order to make some certain payment.
So, I think that it will not bring a big significant influence to the market.