Bananington
|
|
April 02, 2023, 02:38:52 PM |
|
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.
Many people in the crypto space have had this thought, It is why I brought up this topic recently on this forum for discussion; Could there be any importance and need for some kind of mild regulations? The general opinion that you can observe from the discussion is that before bitcoin will be accepted by the government, they will need to find a way for some mild regulations to be able to ensure bitcoin is not exploited and abused by criminals. 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?
Bitcoin has to be accepted first, before it will be adopted.
|
|
|
|
uneng
|
|
April 02, 2023, 02:59:35 PM |
|
Many people in the crypto space have had this thought, It is why I brought up this topic recently on this forum for discussion; Could there be any importance and need for some kind of mild regulations? The general opinion that you can observe from the discussion is that before bitcoin will be accepted by the government, they will need to find a way for some mild regulations to be able to ensure bitcoin is not exploited and abused by criminals. Yes, usually regulations by governments is the answer for this kind of question. However, some governments have gone too far imposing too strict regulations on their citizens, some even banning it from their countries. I don't know how efficient regulations are being to prevent the usage of bitcoin by criminals on their schemes, but I suspect it's not enough to stop them, because criminals are always improving their tactics and operational methods. If they can't use bitcoin, due to the enforced regulations, they are going to use another cryptocurrency to reach their same goals. The point is that they aren't going to stop their schemes. So, it brings a question up: does it worth to prejudice and difficult the access and usage of average users to bitcoin in order to stop a kind of criminal activity which is unstoppable?
|
..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
lovesmayfamilis
Legendary
Offline
Activity: 2254
Merit: 4530
✿♥‿♥✿
|
|
April 02, 2023, 03:19:23 PM |
|
Cryptocurrency illicit trading volumes hit an all-time high amid a surge in sanctioned appointments and hacker attacks, according to the latest Chainalysis reports. But it can be noted that "in general, illegal activity in cryptocurrencies remains a small share of the total—less than 1%. It is also worth bearing in mind that, despite the jump this year, the share of crime in all cryptoactivity still tends to decrease." https://blog.chainalysis.com/reports/2023-crypto-crime-report-introductionIt can be concluded that fiat money is not only more anonymous, but also enjoys a great advantage among criminals. Therefore, it is very wrong to consider Bitcoin in a negative light; this is the lot of those who are not ready to accept it. This is the excuse of regulators who do not stop creating fake news, in every possible way disclosing isolated cases of fraud as a typical phenomenon.
|
|
|
|
YUriy1991
Sr. Member
Offline
Activity: 1050
Merit: 253
Play-To-Earn NFT Game
|
|
April 02, 2023, 03:21:56 PM |
|
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 Bitcoin being used for criminal activity is a complex one, and it is very important to strike a balance between protecting privacy and decentralizing the technology while also addressing any illegal activity that may be associated with it. While Bitcoin's anonymity and decentralization make it attractive to a wide range of users, they also make it difficult to regulate and prevent its use for illicit purposes. It is important to recognize here that although Bitcoin has been associated with illegal activity, it is not inherently a tool for criminal behavior. As with any technology or currency, it can be used for both legal and illegal purposes. Therefore, it is very important to focus on the balance between privacy and security, rather than sacrificing one over the other. In my opinion, one approach to making Bitcoin technology more secure without compromising its key features is to increase the transparency and traceability of transactions. I think this can be achieved through the use of blockchain analytics tools, which can help identify suspicious transactions and track the movement of funds.
|
|
|
|
DoverDoane
Jr. Member
Offline
Activity: 156
Merit: 7
|
|
April 02, 2023, 03:29:18 PM |
|
Hello crypto bros. Today I want to discuss a pretty big problem that bitcoin adoption is facing. 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?
That is the obstacle or you can say the reverse side of the bitcoin currency, when you want transaction security, anonymity, and not to be detected by any party, you will definitely choose this bitcoin option as the means. Then are we just ordinary people who want to get all of that, then the answer is no, there will be other parties including criminals who will get a great opportunity to transact safely and unknown. Everything has its positive and negative values and there is a way to prevent or act on their behavior, so it can't be because it seems like bitcoint parties think it's beyond their victory to interfere in their transaction affairs, If so, another option is to regulate it by changing the transaction rules and working with the government to help regulate the data of these Bitcont users, but on the one hand this has come out of the slogan or characteristic of Bitcoint which prioritizes its anonymity.
|
|
|
|
kelechi
Newbie
Offline
Activity: 72
Merit: 0
|
|
April 02, 2023, 03:50:34 PM |
|
That's actually sad part of btc that many criminals using it and money for their activity
|
|
|
|
ashmodeus
|
|
April 02, 2023, 04:01:30 PM |
|
well, why we should care about negative image of bitcoin, anyway paper money also have that image, my point is this is a free world, do u think bitcoin is a innocent money/assest that should be used always for good thing ? , people are entitled to do whatever with their bitcoins and of course everything have a consequence.I believe sathosi know this part even before btc operated.
|
|
|
|
imamusma
|
|
April 02, 2023, 04:14:39 PM |
|
Hello crypto bros. Today I want to discuss a pretty big problem that bitcoin adoption is facing. 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. Simply put, you can't punish guns for being used to kill innocent people, but guns being used to kill. The same thing happened with bitcoin, someone took advantage of its decentralization and privacy for both legal and illegal things, but I don't agree that bitcoin is blamed. Even all currencies are same, this will not be prevented. 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? I don't know, I don't think we all know what to do other than just prevent ourselves from doing illegal things with bitcoin. Bitcoin and other currencies can always be abused, you can't prevent others.
|
..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
jeraldskie11
|
|
April 02, 2023, 04:37:19 PM |
|
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.
It's sad to think that there are people who use Bitcoin in the wrong way. This is because the transaction is pseudonymous, meaning your transactions through blockchain but not your identity because your address is not linked to your identity. But there are more criminal cases that happened through cash compared to those who use Bitcoin, but there's no complain. One of the purposes of Bitcoin is to solve the problem of financial blockade just like what happened to WikiLeaks. It is better to take time to read for more details and let's know how it impacts Bitcoin's price : The call for Julian Assange || The WikiLeaks Manifesto - We all should read it
|
|
|
|
noorman0
|
|
April 02, 2023, 04:40:39 PM |
|
-snip- I'm not saying that criminals use bitcoin more than fiat, but we all can see that illegal services are widely accepting bitcoin.
That means crime only involves in the circle of criminals? That's not the business of bitcoin users as a whole. -snip- 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?
Every time a new system is created, there must be criminals taking advantage of it and it is inevitable that the use of bitcoin is no exception. After all, criminals or not depends on point of view. If you ask them, they are not criminals, they are just doing "business".
|
This space for rent. Available in mid January 2024 - PM me
|
|
|
worle1bm
|
|
April 02, 2023, 05:10:41 PM |
|
Okay before btc was introduced the crime rate or illegal activities were not happening at all? The people use technology in a bad way so this mean nothing new should be introduced at all? The online transactions can still be traced to some extent but how do you trace fiat whose serial numbers you don't know? So these all are just excuses to add on with btc restrictions as always.
|
|
|
|
AnonBitCoiner
|
|
April 02, 2023, 05:39:19 PM |
|
I think that there are also criminals which are involved bad activities with fiat currency and there is no strict regulations from the government therefore they are involved in such activities. Some people are involved in illicit activities but there are also large number of people who just want investment in Bitcoin to earn money to make their lives happy so it can also use as a good source and also for bad purposes now its up to the person that how he managed it.
The stopping of criminal to use bitcoin is not easy because no one have any idea about any person that why he is holding bitcoin? we don't know the real purpose of his holding may be its for the good fortune and we make wrong concept about that person.
There are no any other fields which is free from illicit activities, there are large number of illicit works going today in the world and no one can stop these activities.
|
▄▄████████▄▄ ▄▄████████████████▄▄ ▄██████████████████████▄ ▄█████████████████████████▄ ▄███████████████████████████▄
| ███████████████████▄████▄ █████████████████▄███████ ████████████████▄███████▀ ██████████▄▄███▄██████▀ ████████▄████▄█████▀▀ ██████▄██████████▀ ███▄▄████████████▄ ██▄███████████████ ░▄██████████████▀ ▄█████████████▀ █████████████ ███████████▀ ███████▀▀ | | | Mars, here we come! | ▄▄███████▄▄ ▄███████████████▄ ▄███████████████████▄ ▄█████████████████████▄ ▄███████████████████████▄ █████████████████████████ █████████████████████████ █████████████████████████ ▀███████████████████████▀ ▀█████████████████████▀ ▀███████████████████▀ ▀███████████████▀ ▀▀███████▀▀ | ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
|
|
|
Mimiklinton
Member
Offline
Activity: 77
Merit: 10
|
|
April 02, 2023, 05:48:30 PM |
|
Hello crypto bros. Today I want to discuss a pretty big problem that bitcoin adoption is facing. 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?
From the days of old,any means of exchange have been associated with one crime or the other,there are cases of money laundering,government hoarding of cash at the detriment of its citizens, so is not anything new to hear of cases here and there where bitcoin have been used as a meas of illegal transaction,but never the less,there are millions of people who have and will always continue to benefit from bitcoin,and its current nature is what makes it special, and I will rather prefare it remains that way.
|
|
|
|
Dr.Bitcoin_Strange
|
|
April 02, 2023, 06:51:20 PM |
|
is to increase the transparency and traceability of transactions. Bitcoin transaction is transparent enough, as every transaction is recorded on the blockchain and cannot be altered, deleted, or destroyed. The only thing here is the synonimity of the individuals carrying out the transaction, which, in my opinion, is okay the way it is. Do you want Bitcoin transaction to be as transparent as causing a situation where individuals who carry out a transaction can be known and monitored for every financial transaction they are carrying out? Crimes or illicit activity cannot be 100% eradicated, and these acts are even more on the centralized financial system than cryptocurrency. which can help identify suspicious transactions and track the movement of funds.
Centralized exchanges, through their KYC features, are making it possible for Bitcoin transactions to be traced to the user, because by doing so, individuals personal details are being collected by those exchanges, and it could be tracked from where they are using to send money to those exchanges and the wallet they are using to transfer the coins they buy. is already possible.
|
..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
lionheart78
Legendary
Offline
Activity: 2982
Merit: 1153
|
|
April 02, 2023, 07:51:13 PM |
|
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?
This kind of issue is old and yet you see Bitcoin adoption is still growing. Any services and tools are subject to good and bad usage. Bitcoin itself is neutral but the people that exploit it are culprits and should be dealt with by law enforcers. I also think that in order to fix problems such as exploits of BTC being used as money laundering or being used in illegal means, it needs to be compromised. It does not necessarily need to remove its features but instead, services that access the Bitcoin network should be regulated. Bitcoin although creates anonymous transactions, it is recorded on a public ledger that is fully transparent to anyone. So I think, the regulatory institutions can take advantage of that to detect and track illegal services.
|
|
|
|
Faisal2202
|
|
April 02, 2023, 08:19:05 PM |
|
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?
All the things in markets whether it's financial currencies, political votes, parties, authorities, ranks, and goods like guns and games, etc. have good and bad use cases. Authorities are only targeting BTC to be the main reason behind all financial criminal activities while according to statistics it's not that big. I know it is being used but I also said every other technology is also being abused. Like games, can put a bad impact on gamers thus resulting in an increment in criminal activities or vice versa. What we can do is teach those who started to play games at a young age or tell those who spend a lot of time wasting on it. Teaching is one of the ways to stop people from using technology in an abusive manner. Fiat currency is used in more criminal activities than BTC and it is still being used. Why this can not be circumvented by now? The reason is simple, Due to Criminals, and to stop the abusive use of BTC we need to stop them, BTC needs no security or encryption or anonymous restrictions. all it needs is a world full of commendable people but that's not possible. Because every day there is an increase in crime rates, Why? is it due to a lack of laws and regulations? No, it's because of the economic conditions and criminal mindset (developed from childhood) that urges people to get involved in criminal activities whether in the real world or in the digital world. I know, it's like impossible to change the mindset of every criminal instead we can punish as many as we can (not we, I am talking about authorities). The thing is at least we could give it a try to improve not only our moral activities but to improve others too, like by guiding them toward moral activities which will build a commendable mindset in them. I have seen many people in my area where people are just want to earn money despite of immortality of that work. Like Promoting drugs websites, or earning through SEX tapes, etc. All we can do is to guide them but like lightly not just get strict on them. They are not intended to do that (well I agree some are) but mostly just want to earn money, Better option is to provide them an opportunity of earning money while following the moral laws when. Overall, the point is Morality of mindset could decrease the number of criminals and thus increase the good use case of BTC, which results in a good adoption rate. These suggestions are for long-term benefits if at least we give them a try.
|
|
|
|
The Cryptovator
Legendary
Offline
Activity: 2394
Merit: 2221
Signature space for rent
|
|
April 02, 2023, 08:28:49 PM |
|
Why isn't the title 'Fiat Has Been Used for Crime'? Comparatively, more crime involving fiat currency is happening than crime involving cryptocurrency. However, it doesn't matter what currency criminals use because they are still criminals. Just like we can't prevent anyone from using fiat currency, we can't prevent anyone from using cryptocurrency. Whether they use it for good or bad, we can't control it. The argument that Bitcoin adoption is being resisted by centralized governments due to the possibility of criminals using it is just an excuse. There is no way to prevent criminals from using any currency, including Bitcoin.
|
Signature Space for Rent
|
|
|
milewilda
Legendary
Offline
Activity: 3290
Merit: 1156
|
|
April 02, 2023, 08:29:04 PM |
|
Hello crypto bros. Today I want to discuss a pretty big problem that bitcoin adoption is facing. 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?
There's no way on fighting or the plan on removing it, considering that this had been the main feature on which why Bitcoin is that mainly been supported because of this one.Come to consider that fiat had still the same. How it did end up? People would really be using it and since its a digital currency with having those features then of course its not really that not shocking that it would be used into those transactions and there's nothing we can do about it. You do dell that it is having more criminal or illegal transactions than with fiat? Do you have any evidence or something you could show about this claim? We know that there's no way that we could be able to do so.
|
|
|
|
Viscore
|
|
April 02, 2023, 08:37:45 PM |
|
Bitcoin was never been anonymous in the first place, it's pseudonymous which mean no one know who's you, but anyone know your address, how much you have transacted and how much your total holdings. we don't want bitcoin to be associated with drugs and sex trafficking
We? or only you? I don't care if Bitcoin to be associated with drugs, money laundering, sex trafficking etc, as long as I don't use it for bad purpose, there's nothing I should need to worry. Ask yourself, can you make sure and verify if every fiat money you get from banks or other people are clean money which not associated with drugs and sex trafficking? Money is money, there's no dirty or clean money. I guess there’s nothing we can do about bitcoin being associated with illegalities, that will continue to happen as long as there are people who will always take advantage on bitcoin and ruin its reputation. Even in fiat, knowing it’s highly adopted and back up by the government, it’s undeniable that fiat is also involved in different illegal activities nationwide. So whether it’s bitcoin or fiat, both are still used as tools to commit illegal activities, but only bitcoin is being put in high restriction since it’s considered a threat in the government.
|
|
|
|
panganib999
|
|
April 02, 2023, 08:40:34 PM |
|
Bitcoin was never been anonymous in the first place, it's pseudonymous which mean no one know who's you, but anyone know your address, how much you have transacted and how much your total holdings. we don't want bitcoin to be associated with drugs and sex trafficking
We? or only you? I don't care if Bitcoin to be associated with drugs, money laundering, sex trafficking etc, as long as I don't use it for bad purpose, there's nothing I should need to worry. Ask yourself, can you make sure and verify if every fiat money you get from banks or other people are clean money which not associated with drugs and sex trafficking? Money is money, there's no dirty or clean money. Well for a while, until CEXs and DEXs introduced KYC in order to better identify users and give the authorities useful leads for when they need it. This is both good and bad at the same time because for one, this provides an added layer of security over the users because oftentimes these users will find that the KYC requirement disables the account they are using from following through with a scammer/thief's activities that could be detrimental to the account health, like password change or withdrawal, but at the same time this is also detrimental to the user as it practically leaves them open for exploitation on the enterprise's parts, selling their info to advertisers in order to better provide targeted ads which are scary.
|
|
|
|
|