Bitcoin usage in crime activity.
acroman08:
you said it yourself, to solve these problems, anonymity would need to be removed which is the pillar of bitcoin, so it can't be done without compromising it.
we can just accept that bitcoin will be used(whether we like it or not) for illegal activities by criminals just like any currency out there, it may not sound good to say that but, it is what it is.
Crypt0Gore:
Here are some facts that says otherwise.
•Bitcoin is not anonymous, it is traceable.
•Criminals and illegal entities have been here before the birth of Bitcoin and they have been using Fiat to fund their illicit businesses.
•Even if something better than Bitcoin comes, criminal will still use it to their own advantage because every good thing can be used in bad ways.
•The best fit for illegal activities are privacy coins and mixer services, that's why the government hates mixers more than Bitcoin.
Maus0728:
Regardless of whether criminals use Bitcoin or fiat to facilitate illicit activities under the hood, at the end of the day, they are free to use whatever they want as long as it is convenient for them, and there is nothing we can do about it.
Plus, the notion that "bitcoin is used only for buying illegal shit" is perhaps a clever move of the government to brainwash people. They know that the average person does not bother to do their own due diligence, when in fact using bitcoin is much more unsafe than conducting transactions using fiat. It's all part of the game where blaming bitcoin removes the accusations against scammers and money launderers who use fiat.
Lorence.xD:
Quote from: Maus0728 on April 02, 2023, 07:41:54 AM
Regardless of whether criminals use Bitcoin or fiat to facilitate illicit activities under the hood, at the end of the day, they are free to use whatever they want as long as it is convenient for them, and there is nothing we can do about it.
Plus, the notion that "bitcoin is used only for buying illegal shit" is perhaps a clever move of the government to brainwash people. They know that the average person does not bother to do their own due diligence, when in fact using bitcoin is much more unsafe than conducting transactions using fiat.
It's not like nothing we can do, we could actually report some addresses that doing illegal stuff to be aware with them. Much better to get traced but due to its decentralized system it would be hard for them to get caught that's why most of the criminal deeds are also open in Bitcoin. And some scammers who caught some newbies that doesn't have an idea to their crime. It would be hard to retrieve what's loss.
That's the pros and cons of Bitcoin, it give people power to control and decide for themselves wether to win or lose without exposing your identity. However the cons of it is that its also open to illegal activities especially the volatility of it unlike fiat money.
TheUltraElite:
Quote from: crypticj on April 02, 2023, 01:28:10 AM
So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?
At this point you cant.
The governments are actively trying to devise methods to track bitcoin and use it for forensic purpose, to catch money launderers and is extrapolated crimes committed with bitcoin as payment method/hackers taking ransom with bitcoin and so on.
But at present we only have to be careful on our own as we have nothing else to protect us with. Maybe in a hundred years the framework of legal and financial systems surrounding bitcoin will improve but that is a long time from now.
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