900,000 illegal bitcoins.

[bitbollo]

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

• Darknet marketplaces - 585,000 BTC.

Assuming that all these bitcoin are spent for drugs (that is absolutely not true since there other illegal/grey-hat stuff sold in black market)
Let's make some count, and compare it with FIAT money....

585000 * 11400 USD = 6,669,000,000 (at actual value, obviously this in historical chart, it means they are counting ALL bitcoin involved in this activity) 6 billions of equivalent in USD

https://www.worldometers.info/drugs/
238,399,050,000 = 238 billions of USD

I think it's enough... there is not much to say: just a small portion of drug market use BTC as form of payment.

[1714709566]

1714709566

[1714709566]

1714709566

[1714709566]

1714709566

[1714709566]

1714709566

[Findingnemo]

How that site managed to get all the data especially the darknet one?

Bitcoin is a currency so it could be used anywhere and by anyone it doesn't mean bitcoins were used for this purposes alone.

[witcher_sense]

I think it's enough... there is not much to say: just a small portion of drug market use BTC as form of payment.

Researchers like Chainalysis are just selling data to governments. They do not inderstand the idea of bitcoin.

The main purpose of this research is to point to the fact that bitcoin is used for illegal activities. It is not important for them how much bitcoins are involved, anyway they cannot provide any strong evidence that bitcoins were indeed used to buy illegal stuff. What they are trying to say, in my opinion, is that bitcoin is used to buy drugs only because of the fact that no government is controlling bitcoin. Bitcoin for them is illegal by default, no matter what things you buy with it.

[Nhor1011]

How did they determine that those thousands of bitcoins was use in illegal activities? Are they sure with their data? And how reliable it is because bitcoin is a decentralized digital currency. How they know all of this? I am just wonder that a digital currencies can be monitored if where it will be use. For example i have 100bitcoins,the researchers will be able to know if what do I do with my bitcoins? I think they  just guess and put in the data.

[PeRo]

That's why average people associate Bitcoin with illegal stuff or criminals. But in reality, I don't think that all of it are serious crimes, illegal activities can be smaller offences; money laundering or simillar. Either way, it's irrelevant, who knows how much fiat is used for illegal activities, and Bitcoin should be treated differently because of this.

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

They probably already did, but we shouldn't really care. A big percentage of cash that could be found anywhere in circulation was used for illegal activities, but why would you care, it's just paper, you'll spend it.

[affandi]

bitcoin was created to make it easier for someone to do various transactions, but behind all that there are many people who hate bitcoin. the analysis you describe here does not provide enough evidence, or maybe this analysis was created by bitcoin haters. let alone, 900,000 BTC is nothing compared to the existing supply, this will not affect the price.

[Twentyonepaylots]

These are definitely interesting numbers, but it certainly doesn't come as any surprise to me that the numbers are this high.  I would love to see the numbers for fiat currency, they would be so far beyond these numbers it's not even funny. I think it's important people keep that in mind.

And for fiat currency, such figures would not be comparable.

Indeed, for the long time that we are using fiat currency there are countless times that fiat is used for such illegal activities making it incomparable to the bitcoin itself. And these figure is actually low than what I expected for the bitcoin, everytime I think of it I actually see the transaction in the network as illegal, like buying a gun online etc.

In addition, these numbers do not seem to me too high, less than 5% of BTC are conditionally illegal, and the fact that this can be tracked is certainly much greater advantage than the fact that they are "problematic".

But then again 5% of is a lot when converted, I'm curious what these bitcoins are used to buy since I do have an idea how dark it is in the darkweb. It is not surprising at all that a privacy coin like bitcoin would be used for these activities, I mean who's criminal online that would want to be publicly seen, no one.

[thirdkiller]

Illegal bitcoins? This is not true at all. Illegal actions of scammers and nothing more.

[Findingnemo]

How that site managed to get all the data especially the darknet one?

Bitcoin is a currency so it could be used anywhere and by anyone it doesn't mean bitcoins were used for this purposes alone.

I guess they only predict where illegal bitcoin goes, and I think it is difficult to have an accurate amount of bitcoin that is used for illegal things. We can choose what we want to do with our bitcoin, and we can also use bitcoin for good things, and don't use it for illegal things if we don't want to break the law in our country. But I am not surprised if that amount is real.

When bitcoin is decentralized and no one can track the purchases are used for what things then it is impossible to say all these bitcoins were used for illegal purpose.In darknet there are some services available for common person as well which is not going to come under illegal activity.

[elisabetheva]

There is more in cash transactions but they don't have record, only estimation of how much drugs and other illegal activities were involved during their seized. I agree with them that it's also the same with cash, we don't know the actual source of it.

Is what you say will be a very terrible threat later? because the use of bitcoin for illegal activities and of course this cannot be avoided but will it have an impact on the government's emphasis on the existence of bitcoin in the future because of the contribution that leads to illegalities.

hopefully things like this can be avoided because if there are no restrictions then one day the government will not be friendly with the existence of bitcoin. it will turn out to be bad information.

[bitbunnny]

These are definitely interesting numbers, but it certainly doesn't come as any surprise to me that the numbers are this high.  I would love to see the numbers for fiat currency, they would be so far beyond these numbers it's not even funny. I think it's important people keep that in mind.

And for fiat currency, such figures would not be comparable.
In addition, these numbers do not seem to me too high, less than 5% of BTC are conditionally illegal, and the fact that this can be tracked is certainly much greater advantage than the fact that they are "problematic".

Exactly, these figures doesn't seem so large and dramatic. Maybe the amount that can't be traced is bigger, however compared to amount of illegal fiat money this is nothing to worry about. We all know that Bitcoin is used for illegal activities as well but so it's fiat with the difference that no one is making drama out of that and stigmatite fiat currencies like they are doing with Bitcoin.

[Janation]

At first I was worried about this but then I read someone's post saying without these illegal transactions, Bitcoin might not be the same.

Bitcoin may not be fully anonymous but we can't remove the fact that there will always be those people that would take advantage of these to do illegal transactions. I think that billion might not even be comparable to trillions and trillions of fiats being used to the same kind of acts until now.

[Yatsan]

Well, it seems like you have exposed the dark side of how Bitcoins are being used by some people working on illegal works to keep on making money. Yes, that was the sad reality that a big bunch of Bitcoins are being used illegally by some people to do their dirty jobs and make transactions by using cryptos but how can we be able to know that such Bitcoin we have received have came out from those illegal transactions if like paper money, Bitcoins are being circulated to provide the users demands and it was freely transferred through transactions. If that's the case, then we cannot tell from which hands does the Bitcoin we have came from.

But we must come to think that this were just a part of the whole Bitcoin circulating in the market and must not embody it as a whole. We cannot control people on how they would use their Bitcoins but this must not lead to misinformation that illegal transactions are being done all due by Bitcoin because a big part of it is still a clean track of transactions that are used for legal activities. All currencies have their flaws which are made up of people using it. The problem is not on Bitcoin but on the people doing illegal transactions using it.

[iTradeChips]

At least 870,000 bitcoins are associated with illegal activities. This is about $ 10 billion.
....
One day, all these bitcoins will somehow hit the market.  

So what?
There is no doubt many more 10's of billions of dollars in fiat associated with illegal activities.
Fun Fact: At least in the West, check any large random sample of paper currency and there will be traces of cocaine on much of it. Does anyone worry about that? No.

Well if you put together all the money being generated by illegal drugs, black market, and illegal arms trade then it will surpass the amount of bitcoins that is being discussed here. So I do not really worry that this will affect bitcoin altogether. All of believe that Bitcoin makes us anonymous and most of us believe that we  can't remove the fact that there will be organizations and persons that would do illegal things with Bitcoin and crypto currencies.

[jerrison]

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.

https://markets.chainalysis.com/#risk-illicit-placement

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

I have seen and heard severally that loads of fraudulent acts are now aided through the use of virtual or digital currency but that is not to say that Bitcoin has bad tenets. People frankly use money for whatever they deem fit as long as it is unde their possession as their property. i personally don't see  the need for attaching bitcoin to things as these because the dollar is never metnioned in this context.

[hanisa]

It is true that many currencies are linked to illicit activities, but it is not something that we should worry much about, Bitcoin is like any currency, when we receive a few dollars we do not know the origin much less to what that money is related.

[bitcoinst]

I have seen and heard severally that loads of fraudulent acts are now aided through the use of virtual or digital currency but that is not to say that Bitcoin has bad tenets. People frankly use money for whatever they deem fit as long as it is unde their possession as their property. i personally don't see  the need for attaching bitcoin to things as these because the dollar is never metnioned in this context.

What are you speaking about? Repeatedly?
Most of the darknet uses bitcoin. The fact that bitcoin is used by drug dealers is said by all the media whenever possible. Judging by these statistics, "dirty" bitcoins are less than 5%, however, in the minds of ordinary people we can say that all bitcoins are "dirty".

[pawanjain]

And who says that these numbers are correct. It might happen that these numbers are wrong and may be the number is even higher.
We can't even say that the bitcoins we hold in our wallets have come from a good source.
May be somebody would have used it for illegal activities but bud that doesn't make a difference.
Even fiat money would have been used for criminal activities and then used by us but money is money.
So in the same way bitcoins are bitcoins and there's no such thing as illegal bitcoin.

[Congyang]

This problem has been around for some time, because there are many who suspect that the value of bitcoins could be greater or smaller in number entering illegal areas. but because there is no security regulatory agency that oversees bitcoin, it will not be on the trending topic of cryptocurrency forums and legal security agencies.

[mariah.sadio]

And this numbers is only growing....