Bitcoin used by Criminals to sophisticate their footprints

[oktana]

Some peoples use bitcoin for criminal operations, it's same term with people use fiat for criminal operations isn't it? We will see people will use anything to enhance their business, in this topic is crime purpose.


Fiat also a scam right, we've seen many people lose their money in scam company. Imo "Bitcoin is scam", this term is irational.

Just like most people on this thread, you are right. Bitcoin in this case is only an object. However, my care for the life of the currency made me create this thread. Everything can be used and misused, but when it's misused rapidly, or it's misuse is increasing, I think a supporter can have a concern over it.

[imstillthebest]

Some peoples use bitcoin for criminal operations, it's same term with people use fiat for criminal operations isn't it? We will see people will use anything to enhance their business, in this topic is crime purpose.

"Bitcoin is a scam"? This phrase only comes up because people have been seeing Bitcoin used for such purposes.

Fiat also a scam right, we've seen many people lose their money in scam company. Imo "Bitcoin is scam", this term is irational.

fiat is supported by governments and people see it and familiar with it .

 they dont put the blame in it but they blame the company or the people that have scammed them but for btc the insight is not the same because btc is non government supported and they didnt see btc and they think that btc is connected to the company that scammed them .
 also a criminal can easily escape if he will not expose himself outside and since btc also exist on a virtual world its a perfect match for them .

[BuNga_cute]

I will not deny that many criminals use Bitcoin to carry out illegal activities. Criminals think Bitcoin can cover their footprint,
because Bitcoin is decentralized. Though they are wrong, Bitcoin has transactions that are easy to trace. Education about Bitcoin is
required, so many people can find that Bitcoin is transparent and easy to trace. That way it can prevent criminals who want to do scams,
and this can be a solution in order to reduce the number of criminals who use Bitcoin.

[CryptopreneurBrainboss]

Haven't you heard that "Bitcoin is a scam"? This phrase only comes up because people have been seeing Bitcoin used for such purposes. Bitcoin is available to everyone, so how can we stop/reduce the misuse of cryptocurrency?

Bitcoin is just a currency, that it's been used for scams doesn't automatically mean it's a scam, the fiat currency has been used to fuel crimes from the very beginning yet it isn't been tagged a scam (meanwhile, it's the real scam). The problem isn't because bitcoin is a decentralized currency but the society is corrupted.

The scammers are seeing more advantage of the crypto currency over fiat and utilizing that, it's best the government make the adoption now and popularize the currency already to create more awareness and maybe reduced the rate at which this scams are becoming a success.

The government will try regulating the third party service provider of the industry with the hope of regulating the industry inorder to reduced the rate of the scams but that will fail too. The KYC regulations didn't work perfectly with the fiat systems in eliminating scams as the crimes are still on the increase so why then would they think regulating a decentralized currency would solve the problem?.

[militiariko]

I am an advocate for Bitcoin and It pleases me to tell people about Bitcoin. But there are issues we need to attend to. Bitcoin was created as a means of payment, and some people are using it for that purpose. Unfortunately, this includes criminals. The rate at which criminals use Bitcoins to enhance their operation and make their footsteps sophisticated is just increasing! Haven't you heard that "Bitcoin is a scam"? This phrase only comes up because people have been seeing Bitcoin used for such purposes. Bitcoin is available to everyone, so how can we stop/reduce the misuse of cryptocurrency? Considering that KYC is not involved because I and some people prefer being discreet about our identity. So, how can we stop this, and I'd still have my secrecy? This is already rubbing dirt on us and needs to be attended to.

I think bitcoin being used for frauds is something that the banking agency of each countries should be able to fix and end easily. If you find any post or blog saying bitcoin is a scam but neglecting the reality that you cannot buy huge amount of bitcoin without doing kyc and aml documentations you should simply realize the bias and agenda.

Bitcoin is here to stay, and the regulation will be to ensure that bitcoin is not used for money laudering, the decentralization has to remain to a large extents.

[Sterbens]

It is true, but at least in this respect we cannot be reckless in taking action beyond our reach as bitcoin users.
We also need to dig back between fiat and bitcoin vulnerabilities, which are criminals more targeted to launch their actions?

In this context, criminals don't see how fiat money and bitcoin are themselves, they commit crimes in various patterns. It is indeed difficult to prevent it, but we must be smart in fortifying our assets, so we can avoid evil deeds.

[20kevin20]

Bitcoin is here to stay, and the regulation will be to ensure that bitcoin is not used for money laudering, the decentralization has to remain to a large extents.

Regulation and decentralization don't really match up. At the end of the day, there'll likely just be people who abide by the law and people who don't. As p2p transactions become more and more "suspect" in the eyes of authorities, it's going to become increasingly harder not to avoid the law if you want your privacy and the decentralized aspects of Bitcoin to stay alive.

[Ryker1]

^[snip]
Bitcoin is just a currency, that it's been used for scams doesn't automatically mean it's a scam, the fiat currency has been used to fuel crimes from the very beginning yet it isn't been tagged a scam (meanwhile, it's the real scam). The problem isn't because bitcoin is a decentralized currency but the society is corrupted. 

Well, this is a short but fully detailed answer.
That is right, bitcoin is also a currency, the same as the fiat currency that also often used by a scammer or even fraud activity. We have nothing to do with this fact is just to accept the reality that even bitcoin was abused by a scammer but the good thing is they perhaps will trace through the transaction that publicly seen on the blockhain, not like the fiat currency. Perhaps they can use bitcoin to sophisticate footprints but they can't hide one the transaction will be traced and convert their bitcoin to fiat currency.

[dunfida]

I am an advocate for Bitcoin and It pleases me to tell people about Bitcoin. But there are issues we need to attend to. Bitcoin was created as a means of payment, and some people are using it for that purpose. Unfortunately, this includes criminals. The rate at which criminals use Bitcoins to enhance their operation and make their footsteps sophisticated is just increasing! Haven't you heard that "Bitcoin is a scam"? This phrase only comes up because people have been seeing Bitcoin used for such purposes. Bitcoin is available to everyone, so how can we stop/reduce the misuse of cryptocurrency? Considering that KYC is not involved because I and some people prefer being discreet about our identity. So, how can we stop this, and I'd still have my secrecy? This is already rubbing dirt on us and needs to be attended to.

Get used to it because no matter how hard we do try it is impossible to get rid or to solve out on where people do make use on illegal things.Just like on what we do saw in typical fiat
where it is mainly used in some illegal transactions which are pretty common.The difference here in Bitcoin that it is been attached into that certain situation where it do
end up on tainting its reputation specially to the eyes of those newbie investors or first encounters which would really be giving out that kind of impression which would really
result into the negative side but just let them be because sooner or later they would able to realize that they have wrong perception about bitcoin once they do able to know
the truth.

[jaberwock]

That’s why it is being said that you can’t have everything in life, sometimes you’re going to have to sacrifice one thing to get the other, because you are not going to be able to have the both of them at the same time. These criminals you’re talking about are also normal people like you that are making use of Bitcoin the same way that you’re using it, and they are using due to the same reason why you’re making use of it which is to have some level of privacy.

If you’re going to be able to keep your activities secret with Bitcoin, these criminals are going to be able to do the same. Bitcoin offers the same advantages to everyone, whether you’re good or bad, and that’s just it. But Bitcoin’s privacy is to an extent and they will still get caught.

[dizzy1996]

Many people consider bitcoin to be a fraud, since they were previously deceived with the help of bitcoin by fraudulently obtaining their card details and buy bitcoin after which they disappear and after that people think that bitcoin deceived them, and for such scammers, authority and respect for bitcoin is lost

[hatshepsut93]

Bitcoin is available to everyone, so how can we stop/reduce the misuse of cryptocurrency?

This is the price of freedom, you either give it to everyone or to no one. There's no way to prevent or track the criminal use of Bitcoin in a way that wouldn't hurt all users. Even now we have chainanalysis companies that claim to fight crime, but really they provide their services to anyone who is paying to them, which often includes governments who conduct mass surveillance. Governments are actually much more scary than criminals, you have a very low chance of encountering criminals, but governments are already spying on you.

[btctaipei]

<SNIP>... which often includes governments who conduct mass surveillance. Governments are actually much more scary than criminals, you have a very low chance of encountering criminals, but governments are already spying on you. </SNIP>

Gubment isn't all bad. But stooges were put in charge are scary.  They will come after you "hard" since they also control the judicial system. They will wreck you, your family, and your life. Be forewarned.

[Oceat]

Many people consider bitcoin to be a fraud, since they were previously deceived with the help of bitcoin by fraudulently obtaining their card details and buy bitcoin after which they disappear and after that people think that bitcoin deceived them, and for such scammers, authority and respect for bitcoin is lost

It is somehow their fault in the first place and Bitcoin has nothing to do with it–it's just Bitcoin is being used as a way to scam naive people. If those people learned how to counter a scam or just do their own research, they might save their money and spend it or invest it on Bitcoin. Those bad people and lack of knowledge people are the ones making Bitcoin to look bad because they don't know the essence of having a crypto currency or maybe those bad people did but proceed on making a untrustworthy scheme.

[Yatsan]

The thinking of the people that Bitcoin is a scam is a concept created on their minds because they cannot truly understand what Bitcoin really is and not because of certain group of criminals who have been using it. Those two are different subjects which must not be brought together for they are two different issues. People calling Bitcoin a scam are certainly those who easily believe on hearsay from other people who have not been successful on their Bitcoin journey because of lack of understanding and knowledge about it and turns to coin Bitcoin as a scam one. Now with regards to criminals using Bitcoin, more cases are being in lined with fiat compared to Bitcoin when it comes to criminality and that must not be blamed on the type of currency but on the people who have been taking advantage of it.

[DeadCoin]

 sometimes people are taking advantage of places to hide and much mistaken that Bitcoin is a scam without evidence which is coming from those lacking knowledge of the new technology. Totally it passes through with a negative impact was made due to anyone who has thought about that we can buy something illegal or legal, and maybe it's right. Because it's assigned to the most secure place inside the creative brain of a leader who is behind. So if we can cope with these terms it is our own freedom to select but it doesn't mean that we are free to do something wrong with the help of bitcoin.