Bitcoin adoption and increase in crime rate, how correlated are they?.

[mysmyle]

Very related. Most people believe that since bitcoin's transaction hash is open for every one to read, it is not possible to be used for crime. I choose to differ from that. Bitcoin's user anonymity makes it very possible to be used for crime. Let's take a look at the number of scams happening around. Once a Bitcoin has been transferred, users can only read the transaction but it is nearly impossible to use that transaction to know who the recipient is. This is why most blockchain require their users to register with their full name and pass KYC. It makes it possible to track transaction and know the exact person behind a transaction in case of fraud.

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[carlfebz2]

is it true that bitcoin adoption.is a crime then today we can see people who use the internet it can be said that there are a lot of crimes.caused by many people who use the internet to do bad things like for example they.commit fraud back to each individual how a person wisely.uses what he.knows and has now

People should at least be thinking off first that crime had been long time existing and becomes worst as the years passed and now Bitcoin would took the blame that it do increase crime rate?

To think off that cybercrime had been increasing year by year before crypto exist and its just normal since there would be those criminal minds that do lurks out into the shadow.

Lets just put aside on really emphasizing on how decentralization and anonymity works.Well, there might be some instances but everything shouldnt really took out the blame.

[molsewid]

Very related. Most people believe that since bitcoin's transaction hash is open for every one to read, it is not possible to be used for crime. I choose to differ from that. Bitcoin's user anonymity makes it very possible to be used for crime. Let's take a look at the number of scams happening around. Once a Bitcoin has been transferred, users can only read the transaction but it is nearly impossible to use that transaction to know who the recipient is. This is why most blockchain require their users to register with their full name and pass KYC. It makes it possible to track transaction and know the exact person behind a transaction in case of fraud.

I don't want to conclude in a negative way but since the digital assets born and so the scammers being born too and so far  the main crime that I think is correlated with bitcoin I might say in a direct way is scamming and fraud but other crime that being connected with the platform is indirectly correlated however some people choose to blame it on the platform. I think fiat is still the most common currency related to crime committed. And yeah it's a big help that every blockchain requires a KYC for the proper verification of the applicant.

[nightxglow]

Well there might be a correlation to the increase in crime rate with bitcoin, because we can't deny that bitcoin anonymity is such a great thing for the criminals. It'll be really hard to track them, and the value is high too, really worth for them. I heard so many criminal cases about bitcoin, scams, money laundering, illegal buying using bitcoin and such. Of course, with bitcoin coming, they have something easy and useful for their crime. But is it bitcoin fault? No it's not. Although it might be upsetting for us to hear bad news or talks about bitcoin, but well they sure have correlation, although the increase of crime rates won't necessarily because of bitcoin, even if there's no bitcoin, those criminals will still find other way for their crimes.

[Wind_FURY]

Well there might be a correlation to the increase in crime rate with bitcoin, because we can't deny that bitcoin anonymity is such a great thing for the criminals. It'll be really hard to track them, and the value is high too, really worth for them. I heard so many criminal cases about bitcoin, scams, money laundering, illegal buying using bitcoin and such. Of course, with bitcoin coming, they have something easy and useful for their crime. But is it bitcoin fault? No it's not. Although it might be upsetting for us to hear bad news or talks about bitcoin, but well they sure have correlation, although the increase of crime rates won't necessarily because of bitcoin, even if there's no bitcoin, those criminals will still find other way for their crimes.

Correlation doesn’t imply or mean causation. It’s a fallacy. There WILL be an increased rate of use of Bitcoin whether it’s for crime or legitimate transactions simply because Bitcoin will enter markets, especially inefficient markets that banks will not service, and make the efficient.

[Yatsan]

This has been an old issue being imposed against Bitcoin and the whole cryptocurrency community with regards to the increase of crime rate in relation to the adaption of many people towards engaging into the crypto market. It seems like the media have put a lit of fire into this issue wherein this have already been tackled long time ago that the crime rate (scamming, hacking and etc.) have already been there before crypto and the ones to be blamed are the people behind those acts and not crypto alone for they are using the advantage and making their dirty works out of it.

[AakZaki]

In general the increase in crime is also not due to the increasing adoption of bitcoin. Evil will always be everywhere. scammers were born because bitcoin transactions are very tempting at high prices. There are many ways that scammers do to trap their victims. It's not just bitcoin, other platforms are also a crime scene.

The correlation of bitcoin adoption with increased crime may be justified. Cybercrime continues to evolve with many methods. but nothing can be hidden in bitcoin, everything can be tracked and will lead to the criminal.

[dezoel]

It’s true that when there are no rules people tends to start misbehaving. But, I wouldn’t really say that’s the case with bitcoin. Although we have seen it a lot of times being said that bitcoin gives freedom, but it doesn’t really give freedom. Of course it can be anonymous, but to an extent. Though one thing I have noticed is that crimes that has to do with maybe one individual usually go unpunished through bitcoin.

I have seen individuals report about being scammed and nothing is being done about it. But, I have also seen big cases that has to do with lots of people, and within short time they are caught. Like the one of Twitter and so many others. So I wouldn’t really say there is hundred percent freedom in bitcoin. Criminals can still be caught.