Better than "GOLD" for criminals, BTC is easier to steal; Easier to scam;

[DaveF]

...

If you hate BTC so much why don't you just go away.
I know you have none and have never had access to any real amounts of coins.
Nobody who uses BTC really cares what you have to say.
Nobody on this forum really cares about what you have to say.

You come here to tell everyone how bad BTC is and how bad CHIA is yet you own none and never have.

Just stop complaining and being a troll get a job.

Oh, and BTC is better then gold since more places take it for commerce then gold (Which you don't have any of either)

-Dave

[1715211074]

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[maxreish]

In terms of security, since Bitcoin is being managed and used online, the scam is often times occured. The anonymity added the reason why it was used by some criminals. It's decentralization content also abused that it may be use in unusual way.

However, there is also an advantage of using bitcoin, the convenience of using it by transacting online and most of us here used it as store of value. Gold is also a good investment but in terms of alternative payment use, it can not be use as that.

[bryant.coleman]

Being a Bitcoin user for more than a decade, my only question here is this - if Bitcoin is tailor made for the criminals, then why 99% of them are using fiat currency instead of BTC? And compared to the situation we had when dark markers such as Silk Road and Alphabay were running, now the proportion of BTC transactions that can be linked to the contraband trade has plummeted. One of the reasons is that the criminals no longer regard Bitcoin as a "safe" medium. They don't prefer a currency, where each and every transaction is stored in the blockchain.

[hitsnorth]

BTC is easier to use for regular people too. Criminals will always try to find the way to use something in their benefit.
And how it's easier to steal? If you don't know the private key you can't get access to BTC. Yeah, some of holders may be dumb enough to give it to you but there are always people who can be easily tricked.

[Hydrogen]

Rogue nations like north korea have reportedly been involved in a majority of crypto ransomware attacks. They're state based attacks made by countries currently under economic sanctions. Making it impossible to extradite or prosecute ransomware attackers due to north korean authorities not cooperating with law enforcement, opting not to abide by international extradition.

A case could be made for traditional financial institutions being breached and attacked far more severely in contrast to crypto equivalents. The federal reserve having reportedly been breached more than "50 times" in 4 years doesn't set a good precedent.

Federal Reserve Hacked More Than 50 Times In 4 Years

WASHINGTON (Reuters) - The U.S. Federal Reserve detected more than 50 cyber breaches between 2011 and 2015, with several incidents described internally as “espionage,” according to Fed records.

The central bank’s staff suspected hackers or spies in many of the incidents, the records show. The Fed’s computer systems play a critical role in global banking and hold confidential information on discussions about monetary policy that drives financial markets.

https://www.huffpost.com/entry/hackers-breach-federal-reserve-50-times_n_574ee0d5e4b0757eaeb1194c

....

Gold is actually not a good option for criminals. Cash in the form of unmarked bills is the option of choice for villains in movies for good reason. Unlike crypto, paper bills leave no digital trail.

[Coinasset-financefraud]

One supposed Crypto investment company that proves original author point is www.coinassetfinance.co. Supposedly Great Britain based with a domain owned by an American and @gmail.com for their email address. CAF that they like to go by, has only Telegram as their communication medium of choice. Never replies to emails or sends out written rules and regulations to investors, as required by international laws. Do not invest with Coin Asset Finance or CoinAsset-Finance. They are nothing but modern day Internet based thieves.

[fiulpro]

One cannot just exclude the fact that ' bitcoins is trackable', ofcourse we have exception for the virgin coins which are just mined but let's be honest we don't have many of them.

Have you seen any good trading platform which does not require documents therefore you have to understand that one cannot just scam people on a big scale and then run away.

At rhe same time one have to understand the fact that gold is a physical asset which can be stolen anytime. If you are very careful with Bitcoins and your wallets then there is no possibility of them being stolen. Most of the times it's problems with the personal security and not bitcoins itself.

[Vaskiy]

Whether it is bitcoin, gold or some other valuable asset. It has got the good and the bad, which means advantages and disadvantages within it. Our responsibility is to overcome the problem and make use of the good in it. Even now people aren't aware of bitcoin compared to gold. This is the reason why gold is getting more importance over bitcoin.

Being an anywhere accessible asset, bitcoin is more easier to be moved anywhere. Gold being a valuable asset isn't that accessible as bitcoin, even after its digital form of investment access. Gold can't be used for transaction needs as bitcoin, which is also a reason for the increased chance of bitcoin being stolen easily. As per the present security structure it is quite hard to steal bitcoin, but scamming is possible and happening in large-scale with the beginners.

[gundala]

Better than "GOLD" for criminals, BTC is easier to steal; Easier to scam; PPL lock their gold up, keep their mouth shut, gold lasts forever;

Well, I do agree with your comment. Without going into the technical nitty-gritties, I can say that bitcoin has made the life of a scammer much easier. Now they don't have to worry about going through the banking channel to launder money or to receive the criminal proceedings. This statement is not only true for bitcoin but for other cryptocurrencies which has enough liquidity available. So there is no surprise that the cyber criminals are trying to use cryptos only. Much easier to receive the dirty money and much easier to hide from the eyes of enforcement agencies.

But, that doesn't make bitcoin look bad. Right now bitcoin is a hot topic so people are using it and promoting it. It one fine morning, if we find something hotter, we will move to it. That's the normal flow of life.

Nothing is perfect in this world. after all anything can be a tool of crime, depending on the user. and as you said, criminals, whether money laundering, black market, drug trafficking, etc. can use this easily and "hiddenly". but the other side is also very profitable, this is part of the evolution in finance, everything is getting easier without the administrative problems that take a long time.
basically it depends on who the user is and what the purpose is. the bad side and let's put this to good use while it gives us a good chance.

[nelson4lov]

~Snipped

Regardless, Sha256 is still one of the most secure algo in the market until the era of quantum computers come to play which is by the next decade. Until then, Bitcoin would still be the de-facto crypto for everyone to use as store of value.

One cannot just exclude the fact that ' bitcoins is trackable', ofcourse we have exception for the virgin coins which are just mined but let's be honest we don't have many of them.

Have you seen any good trading platform which does not require documents therefore you have to understand that one cannot just scam people on a big scale and then run away.

At rhe same time one have to understand the fact that gold is a physical asset which can be stolen anytime. If you are very careful with Bitcoins and your wallets then there is no possibility of them being stolen. Most of the times it's problems with the personal security and not bitcoins itself.

Privacy isn't one of bitcoin's biggest selling points considering all data is available on a publicly viewable blockchain. But back on decentralization topic, it does a very good job. To achieve the level of privacy that would add additional security since there's no tracking, then we have the taproot upgrade which would add another layer of security and privacy to Bitcoin transactions.

Taproot's goal is to change the way Bitcoin's scripts operate to improve privacy, scalability, and security.

[jossiel]

You become a target if you're too vocal about owning bitcoin in public places. You don't have to tell everyone that you're into bitcoin.

And about being scammed, everywhere there is a scam and it's not only in the bitcoin community that has scams. But also in real life, there are scams and hacks.

Exactly, thank you for saying this. If you are flexing your money in social media platform and you always have it on topic when you are talking to someone then you are going to meet someone that will also tell it to others until the stories found it's way on a malicious person. But OP is right that it's much easier to steal bitcoin than gold since there's no manpower needed unless there's a security that you need to breach, most things stolen nowadays are digital anyway.

Well for stealing bitcoins.

If you don't usually connect your seeds/private keys to the web and you've got your own cold storage, you're unlikely to be hacked.  

There were those people that have been hacked and their bitcoins were stolen because they've never been secure and didn't do the basics of keeping their keys safe and probably signs up for a phishing site.

[Slow death]

So BTC has become the GOV control freaks nirvanna, like a heaven for arseholes.

let me guess why you're angry:

1 - you bought bitcoin on high and now you are at a loss and decided to cry here on the forum

or

2 - you invested in gold and spent the whole year and made a miserable profit and saw the high price increase that bitcoin had and how people made a high profit investing in bitcoin and now you came to cry on the forum because you are jealous

[btc-room101]

So BTC has become the GOV control freaks nirvanna, like a heaven for arseholes.

let me guess why you're angry:

1 - you bought bitcoin on high and now you are at a loss and decided to cry here on the forum

or

2 - you invested in gold and spent the whole year and made a miserable profit and saw the high price increase that bitcoin had and how people made a high profit investing in bitcoin and now you came to cry on the forum because you are jealous

jeebuz, let me guess your in prison right? They gave you a computer so you earn $$ by talking up bitcoin, by the post;

why is everybody crying? or at a loss?

Who miserable other than yourself

I'm just talking facts, no emotion or 'feelings' required.

Jealous of what morons? Do u understand that the average moron owns like 0.0033 bitcoin or about $1k to their name in btc? Who is jealous of  what?

When all of you head for the exits at the same time to sell, see how much you walk away with.

[btc-room101]

You become a target if you're too vocal about owning bitcoin in public places. You don't have to tell everyone that you're into bitcoin.

And about being scammed, everywhere there is a scam and it's not only in the bitcoin community that has scams. But also in real life, there are scams and hacks.

Exactly, thank you for saying this. If you are flexing your money in social media platform and you always have it on topic when you are talking to someone then you are going to meet someone that will also tell it to others until the stories found it's way on a malicious person. But OP is right that it's much easier to steal bitcoin than gold since there's no manpower needed unless there's a security that you need to breach, most things stolen nowadays are digital anyway.

Well for stealing bitcoins.

If you don't usually connect your seeds/private keys to the web and you've got your own cold storage, you're unlikely to be hacked.  

There were those people that have been hacked and their bitcoins were stolen because they've never been secure and didn't do the basics of keeping their keys safe and probably signs up for a phishing site.

Most stealing takes place on the exchanges, where most people hang out 'day-trading' the number of whales in cold-storage is probably close to 1 or 0 on this dumbed down message board.

In time once sha256 & secp256k1 are easily attacked then all high value accounts will be attacked, followed by low value, I would agree if your address has < 0.001 btc then your probably safe.

[Kakmakr]

Wow... the stupidity of some of these shills (Goldbugs) are seriously funny.

OP, have you ever heard about ......"Metal detectors " ..... those devices that can detect Gold or any other metal? Also, while that Gold is hidden under ground, it is useless. (....or are you going to dig it up, every time you want to buy something.. )

Also, Gold is not practical.....  If you want to make online transactions, you have to sell some Gold coins or Gold bars and then transfer that money to a Bank account and then make online transactions.  

Bitcoin can be stored on laminated paper / carved in Stainless Steel .... or even on a Gold bar... if you wanted to do that. (I can store say.... $100 000 000 worth of Bitcoin on a piece of paper.... where are you going to hide that amount in Gold?)  

Ps... The NSA do not print money. 

[Bitstar_coin]

Very easy to to steal btc by scammers than steal gold indeed, since I have been part of crypto I have come across many scam issues from different users and hardly has any of those stolen btc where refund to the owners, several times people will fall into scam and they will lose their funds so easily by just clicking the wrong link but if it where to be gold i doubt it will be that easy, any little mistake with wallet and keys and can be very detrimental to one's funds.

[DapanasFruit]

Better than "GOLD" for criminals, BTC is easier to steal; Easier to scam; PPL lock their gold up, keep their mouth shut, gold lasts forever;

Well, I do agree with your comment. Without going into the technical nitty-gritties, I can say that bitcoin has made the life of a scammer much easier. Now they don't have to worry about going through the banking channel to launder money or to receive the criminal proceedings. This statement is not only true for bitcoin but for other cryptocurrencies which has enough liquidity available. So there is no surprise that the cyber criminals are trying to use cryptos only. Much easier to receive the dirty money and much easier to hide from the eyes of enforcement agencies.

But, that doesn't make bitcoin look bad. Right now bitcoin is a hot topic so people are using it and promoting it. It one fine morning, if we find something hotter, we will move to it. That's the normal flow of life.

Bitcoin can be considered as a two-edged sword...it is bringing many new possibilities but also some disadvantages and weaknesses that criminals or evil people can use to exploit. Hackers are evolving with the time and when they are seeing a good opportunity they rush into it like a blood-sucking worm. On the other hand, there are also disadvantages for criminals to be always using cryptocurrency because the record of all transactions are permanent and if there can be a way to track the owners of those wallets then they can be facing a big problem. The bottom-line is that there is no such a thing as a perfect system or a perfect investment for that matter...and why we might ask? Because of human nature. Nobody is proclaiming that Bitcoin is perfect...no it is not but neither is gold.

[worle1bm]

Bitcoin is your digital decentralised finance and it's one of the most secured crypto at this time because you hackers can't brute force and gain access to your keys it's only easier to steal when you are dumb enough to loose it otherwise it's not possible at all.The criminals will not prefer to use it because they are smart unlike you because they know it's not full anonymous and you can still trace the transaction but you may have seen most of the illegal works being carried out by making fiat deals or gold bars.But you can't always blame a currency which is capable of providing your financial freedom if your are positive enough to look at it.

[Kong Hey Pakboy]

I don't think that it's easy to do that anymore, remember that scammers have already been caught by the authorities even though they used bitcoin as a form of ransom for their attack. I wouldn't say that bitcoin is the gold for criminals, I think the privacy coins are the more likely candidate to be called a gold for criminals but even that isn't safe anymore because organizations and tech firms are trying to destroy them by trying to find patterns.

[zanezane]

~

COINBASE is OWNED by the IRS; They have already banned 'tainted' aka mixed coins; The FBI, NSA, and almost all Gov's on earth have now had +10 years to study and develop tech to track everything about bitcoin, especially given that +90% get in&out of BTC via the exchanges which like COINBASE have already setup 100% KYC.

Exactly what you are talking about? Your sentences and structure don't make sense to me even though I have read it two times which wasted my time.