Bitcoin usage in crime activity.
WillyAp:
The illegal use of the dollar is just too much.
Lets outlaw the $
Instead of doctoring on symptoms we should eradicate the disease
Ayers:
Quote from: worldofcoins on April 09, 2023, 10:32:41 AM
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?
The issue of illegal use of Bitcoin is indeed a challenge that the cryptocurrency community faces, and it's essential to address it to ensure wider adoption and legitimacy of Bitcoin. One possible solution to this problem is using blockchain analytics tools that can help track illicit transactions and identify the individuals involved. The second possible solution could be developing decentralized exchanges with robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures in place. But his should be taken seriously.
Once you use the KYC process, it is never called decentralized, and we don't need to come up with any solution in this case. Why are people always afraid about bitcoin being used by criminals will make bitcoin bad or not good? Don't forget that before bitcoin was born, criminals used fiat money, gold... all other assets for their crimes. Why don't we find a solution to those things but blame bitcoin? If you want that to stop, you don't need to find a solution for bitcoin, instead, tell the government to find a way to kill the criminals because it's their responsibility.
Who is John Galt?:
Quote from: Ayers on April 09, 2023, 02:35:47 PM
Once you use the KYC process, it is never called decentralized, and we don't need to come up with any solution in this case. Why are people always afraid about bitcoin being used by criminals will make bitcoin bad or not good? Don't forget that before bitcoin was born, criminals used fiat money, gold... all other assets for their crimes. Why don't we find a solution to those things but blame bitcoin? If you want that to stop, you don't need to find a solution for bitcoin, instead, tell the government to find a way to kill the criminals because it's their responsibility.
Because the government wants to control everything, and the appeal to fight crime is just a convenient rationale for a campaign to increase control over anything. Demonize bitcoin by saying that it can be used by criminals and keep quiet about how a small percentage of criminal money chooses to use bitcoin over fiat currencies. And that's it, you can ban and restrict bitcoin, increasing control over everything.
Russlenat:
Quote from: jostorres on April 04, 2023, 06:56:09 AM
Quote from: crypticj on April 02, 2023, 01:28:10 AM
The problem here is that the system should have some way to fight these criminals because we don't want bitcoin to be associated with drugs and sex trafficking, but the problem is, by solving these problems we should get rid of anonymity which is a pillar for the bitcoin technology, so it can't be done. And this problem might be a big obstacle in mass bitcoin adoption and regulations that are coming.
Almost every single currency or asset that exists in the world is used somewhere in a criminal or bad activity, and that doesn't really make much of a difference as those using it are the ones who are bad and not the currency or asset that is being used. People used to think Bitcoin is a currency used only in criminal activities some years ago, but did that stop Bitcoin from becoming famous or proving everyone wrong? No.
So no matter how hard a certain group of people or authorities try to convey it so that it looks bad and people stay away from it, it will become more and more popular and people will start using it more. So we don't really need to worry about that thing.
True. As long as the government is against bitcoin, it will always be a bad currency for them, even involving bitcoin indirectly in criminal activities and scams which I think fiat is also not free about it. I guess no matter what currency it is, as long as it create conflict on fiat, then it will always be the bad one. So the thing is, we just have to get used about it, as negative criticisms will only make bitcoin more popular and will never lessen its effectivity, though global adoption might also being threaten about it.
Botnake:
Honestly, it’s even safer to use bitcoin knowing it’s decentralized and the anonymity is high, unlike using centralized fiat that you are often monitored by the government. But with regards to bitcoin as a source of crimes, I don’t think it’s highly possible since fiat is the one that is abused by majority and people do commit crimes most particularly for the sake of fiat.
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