Bitcoin usage in crime activity.
OcTradism:
Quote from: crypticj on April 02, 2023, 01:28:10 AM
Bitcoin is great in means of anonymous transactions and getting away from the banks and government control, but the problem is, it's the exact problem why criminals are using it. And it's a pretty big one. I'm not saying that criminals use bitcoin more than fiat, but we all can see that illegal services are widely accepting bitcoin.
Criminals use all things they can use for their jobs. Fiat currency, drugs, gold, real estates, Bitcoin, cryptocurrency so you can not say Bitcoin is the most favorite tool of criminals for things like money laundering.
Some reports for you
Crypto Mixer Usage Reaches All-time Highs in 2022, With Nation State Actors and Cybercriminals Contributing Significant Volume
Crypto money laundering 2022
Bitcoin is only one of their channels for money laundering.
Money laundering
Quote
Almost all criminal activities yield profits, often in the form of cash, that the criminals then seek to launder through various channels.
You see many channels for it on Europol website.
davis196:
Just because Bitcoin is being used by criminals that doesn't mean that we, the Bitcoiners "should do something about it".
The police and the juridical system must find and punish those criminals. We can't do anything, in order to stop the criminals from using Bitcoin.
Fiat is being used by criminals as well. Do you think that the central bankers around the world care about this fact? Maybe they do, but that's not their main problem. Do you really think that the criminals around the world would ever stop using fiat currencies? I don't think so.
Many criminals and scammers are using gift cards. Do you think that Amazon, Google, Steam and all the other major corporations are going to stop issuing gift cards, just because scammers are using them for criminal activities?
Fullcoinese:
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?
isn't Fiat also not free from crime? it's even worse than what the media reports about Bitcoin.
say a bribe, an online transaction from a bank account might be detected. but cash transactions for bribes, drug transactions, and other crimes using fiat are still very large.
then, are we going to make rules that will govern Fiat? I don't think so. the same goes for the use of Bitcoins for money laundering. it's not Bitcoin that will be the focus. but it is the bridge between fiat and Bitcoin that must be controlled. therefore KYC solutions on exchanges are indeed quite important. there is no denying it if you want to combat this abuse. and that means it will be difficult to be truly decentralized and remain anonymous. when everyone remains anonymous, even the perpetrators of the crime there will be untraceable.
Tytanowy Janusz:
Quote from: crypticj on April 02, 2023, 01:28:10 AM
Bitcoin is great in means of anonymous transactions and getting away from the banks and government control, but the problem is, it's the exact problem why criminals are using it. And it's a pretty big one. I'm not saying that criminals use bitcoin more than fiat, but we all can see that illegal services are widely accepting bitcoin.
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.
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?
"A new study by Recorded Future has found that Bitcoin is losing its position as the number one currency on the Darknet markets."
https://cointelegraph.com/news/is-darknet-done-with-bitcoin
As far as I'm concerned, illegal activities move to privacy coins like monero. Bitcoin slowly loses dominance here because it's only a pseudo-anonymous coin. I don't think we should do anything to fight cryminal activities because its not the bitcoin battle and most of it still uses dollars.
bearer company, bearer bonds, and bearer shares, and you can move billions of dollars in illegal money. No one fights it. I don't think we should.
cabron:
BTC can be traced so thats their sure way to fight criminals using BTC. Its time to update the skills of the police officers on how to trace criminal transactions. Authorities do have databases of criminals qnd usual suspects as well which they could link them and show evidences.
But most probably the 85000 IRS agents that was trained recently is meant for this job.
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