Bitcoin has nothing to do with crime

[Y3shot]

Because of bitcoin does not give public details of people who make transaction with it, some people do say it promote crime. People needs to understand one of the features of bitcoin is freedom that anybody can get access to it, it does not discriminate.  The privacy features of bitcoin is very important to humanity,  which I know one of its advantage is for safety by using cryptography that makes all transactions safe and encrypted.

Privacy in transactions of bitcoin is much important,  if their was no privacy it would have cause several criminal attacks.  For those who think bitcoin encourages crime because of hiding  public data of users don't understand the importance of bitcoin being private.  Before bitcoin  started  existing monetary crime have been existing.  Bitcoin is not a reason for monetary crime,  bitcoin is just for everyone and does not discriminate but accept everyone.

[1714746683]

1714746683

[The Cryptovator]

Bitcoin isn't inherently a privacy coin; rather, it stands as a genuinely decentralized cryptocurrency. Your level of privacy is determined by the measures you take to safeguard it, given that Bitcoin transactions are publicly accessible. If I possess your specific Bitcoin address, I can still trace your activities. Bitcoin's objective is to establish a decentralized payment system, eliminating the need for third-party intermediaries.

[nelson4lov]

True that and that's the beauty of Bitcoin and blockchain. It's fully permissionless. Everyone can do what they want with their Bitcoins. So it's bad when people generalize it and other people that were hoping to get involved would change their mind. There would always be bad actors in a system like this. Even AI that is the pride of future technology suffers from the same feat. As much as there would be good actors, there will also be bad one ready to take advantage of the network for personal gain.

[lionheart78]

Bitcoin the same as guns and any armaments does not commit crime by itself.  It is the people who are committing crimes and just using these tools while doing so.  Bitcoin is neutral and is created to make transactions freely without the financial institution's intervention.  If someone uses Bitcoin for money laundering, it is not Bitcoin's fault but rather the person who is using Bitcoin to do his crime.  I do not know why there are people stressing about Bitcoin being used in money laundering and saying it is a bad currency when the government-issued currency had been used way more in terms of money laundering and yet these people don't even tell a thing about it.

[livingfree]

Because of bitcoin does not give public details of people who make transaction with it, some people do say it promote crime. People needs to understand one of the features of bitcoin is freedom that anybody can get access to it, it does not discriminate.  The privacy features of bitcoin is very important to humanity,  which I know one of its advantage is for safety by using cryptography that makes all transactions safe and encrypted.

You'll hear endless debate and thoughts about Bitcoin being used in crimes and illegal activities as well as transactions. But if they're going to think about it, that's also being done with fiat, they just don't want to look at it because it has been common there.

Privacy in transactions of bitcoin is much important,  if their was no privacy it would have cause several criminal attacks.  For those who think bitcoin encourages crime because of hiding  public data of users don't understand the importance of bitcoin being private.  Before bitcoin  started  existing monetary crime have been existing.  Bitcoin is not a reason for monetary crime,  bitcoin is just for everyone and does not discriminate but accept everyone.

If it's about privacy, there are privacy coins that deals more of it like Monero. It's being chased by the government and they don't want it to be one of those most used and that's why they're trying to reduce the volume of it.

And that's through targeting exchanges and forcing them to delist it. As for Bitcoin, as it becomes popular and gets into the main market, the thought changes on it as it's like becoming now a common money to everyone and an investment too.

[GeorgeJohn]

From the beginning when bitcoin was established many countries avoided bitcoin because they tag bitcoin as an avenue of stealing and mostly committing a fraudulent act in a society, that was the taught of many government and that is while till now many people is still castigating the bitcoin and as labels bitcoin a crime, when I started invest in bitcoin new, my father discouraged of bitcoin and I took it upon myself that bitcoin is a good project and I will learn and understand bitcoin and also invest in bitcoin, I did not listen to anybody concerning bitcoin rather I was the courage that bitcoin is going to be an elite of tomorrow, which today bitcoin  has spread enough tentacles even trying to dominate others  currencies.

[lousie9]

Yes, it's true that Bitcoin actually has nothing to do with an ilegal activity or crime because Bitcoin was not created for that. Bitcoin was created to make it easier for us to make transactions, but unfortunately Bitcoin is inseparable from abuse by many irresponsible people because they take advantage of the advantages possessed by Bitcoin to carry out illegal acts and crimes activity, one of which is money laundering.
There are several loopholes that are exploited by people who are not responsible for carrying out illegal activities or their activities that violate the law, one of them is because it can be used without authorization from a country's central bank and there is no intervention from any financial institution or third party, so that way it would be difficult to detect and very suitable for money laundering.

[Dr.Bitcoin_Strange]

Well, even if Bitcoin is eliminated, monetary crime will not stop. I know the reason why some people or the government are thinking that Bitcoin contributes to crime is because of the other known incident of money laundering with it, but the question they should even be asking themselves is: if Bitcoin is removed from the picture, will such an incident cease to happen? because it will take a different form. Some government officials who are in power are even the ones who are promoting some looting in some countries, because without their help, most of those looting operations would not really go smoothly.

[GreatArkansas]

(....)
Privacy in transactions of bitcoin is much important,  if their was no privacy it would have cause several criminal attacks.  For those who think bitcoin encourages crime because of hiding  public data of users don't understand the importance of bitcoin being private.  Before bitcoin  started  existing monetary crime have been existing.  Bitcoin is not a reason for monetary crime,  bitcoin is just for everyone and does not discriminate but accept everyone.

Exactly because these crimes doings can be also done using our current fiat currency,  there's no difference.
Crime does exist in fiat currencies so for me, using Bitcoin in crime got no difference from using fiat for crimes also.

I think some people also misunderstood Bitcoin because of Bitcoin is famous on these kind of related crimes where most of the time it is being headline on news or social media discussion.

[Bitcoin_Arena]

The truth is that the Governments all over the world hate it when people have power over their funds. If all people adopted Bitcoin, it would simply mean no or reduced power for the Governments to control them. Tracking their transactions and dictating on how much they should speed or what they should not spend on

Governments would also lose out so much in revenues from the daily transactions and taxes a rising from keeping the fiat money in bank. That why they tag Bitcoin as a currency for crime, but so have been the Dollar or Euro for a decade. You can't completely stop crime where there is money involved.

[EFS]

It's easier to get caught with Bitcoin transactions than cash money. If security forces want to catch criminals, they can track it much more easily with Bitcoin. Governments have made great strides in cybersecurity, and blockchain-trained people are working within the government. Many of those involved in criminal activities using Bitcoin in the past have been caught. I wouldn't recommend using Bitcoin in any criminal activity.

[Gallar]

Because of bitcoin does not give public details of people who make transaction with it, some people do say it promote crime.

People who say this can be ascertained, that the person is not someone who knows about the bitcoin system and even the information he knows about bitcoin, maybe that's all. So if I personally, were faced with someone who asked a question like that, I would definitely answer it very concisely and concisely. Because to explain why transactions in bitcoin are very anonymous and why this is so important. Actually the answer is very simple, namely to maintain the privacy of every bitcoin user so that his bitcoin assets remain safe.
Not that with anonymous bitcoin transactions, it is intended for something evil, but this is for the good of investors in bitcoin itself.
So in essence, bitcoin and all the systems embedded in it, there are no elements related to crimes or criminal acts.

Indeed, there are a handful of criminals who use bitcoin as a mask for their crimes. Namely by committing fraud and such. But criminal acts such as fraud, do not only occur in the world of bitcoin, but even in fiat money this has even happened frequently. So those who say bitcoin and its transaction system aim to obtain public data, this opinion is very wrong.
Because according to the assessment of the US treasury department alone.

fiat currencies and traditional networks that turn out to contribute more (in the majority) to criminal flows than digital currencies such as cryptocurrencies.

Source: https://coinvestasi.com/berita/kejahatan-keuangan-terjadi-di-mata-uang-fiat

[rikybrosh]

criminals use everything that they think it will help them to do crime, if criminals use bitcoin for their transaction then government should not see bitcoin in negative way, government still see fiat in positive way although many criminals use it for illegal transaction.

[Sim_card]

Bitcoin gives privacy in the sense that only the two person involved in the transaction knows that a transaction made without a third party. Another way is that you are your own bank and the government or nobody can know how many bitcoin that you have.

Because of bitcoin does not give public details of people who make transaction with it,

Your transaction can be tracked by anyone through your public address. The only way that you can make your transaction invincible and you remain anonymous is when you connect your wallet with Tor.

[Blitzboy]

It may be considered in more complex layers. The main reason to praise bitcoin as a future money is its encryption methods guarantee transaction security. As you mentioned, it supports nondiscrimination and privacy.

Your claim that several criminal attacks will occur without privacy may be unrelated. Even if bitcoin is inclusive, acceptance must be defined. Does bitcoin or people accept it? However, your valid and persuasive point must be acknowledged and highlighted: Bitcoin's encryption and anonymity are crucial for safety and have nothing to do with pre-existing crimes. Anyone can use it.

[bitzizzix]

It's easier to get caught with Bitcoin transactions than cash money. If security forces want to catch criminals, they can track it much more easily with Bitcoin. Governments have made great strides in cybersecurity, and blockchain-trained people are working within the government. Many of those involved in criminal activities using Bitcoin in the past have been caught. I wouldn't recommend using Bitcoin in any criminal activity.

That's right, and Bitcoin was often accused of being linked to crime back then, because criminals believed that Bitcoin was actually hiding their privacy. And it turns out that those who use Bitcoin for criminal activities are very easy to prosecute or find people who use Bitcoin in illegal activities or other crimes, and this is proof that cash is still easier to use for criminal activities than Bitcoin.
and this is just propaganda, because criminals don't want to be caught easily using Bitcoin because Bitcoin is the easiest way to catch them, even down to their roots.

[Litzki1990]

Everything has its good and bad side but it's how we use it that matters. Many people complain that the dark web is used for various criminal activities through Bitcoin. Those who are involved in such activities, be it Bitcoin or any other currency, must commit a crime. We use mobile phones or other devices but there are good and bad sides, those who have good mentality are doing a lot of good things through mobile phones and other devices but no matter how much good things you give to those who have bad intentions they will give those good things. We can't blame Bitcoin for two culprits. We have to see how useful Bitcoin is for people outside of criminal activities. Bitcoin has made the transaction system of users much easier and also has become the best investment platform for users. So we common users consider Bitcoin as a good digital currency.

[Y3shot]

Bitcoin isn't inherently a privacy coin; rather, it stands as a genuinely decentralized cryptocurrency. Your level of privacy is determined by the measures you take to safeguard it, given that Bitcoin transactions are publicly accessible. If I possess your specific Bitcoin address, I can still trace your activities. Bitcoin's objective is to establish a decentralized payment system, eliminating the need for third-party intermediaries.

Yes you are right the level of privacy who maintain in bitcoin transactions that is what makes bitcoin to be more private.  So the privacy of bitcoin is determined by every individual, if one can can be private with wallet address and transaction details I believe their stands to be a better privacy. Bitcoin transaction can be traced but it won't be easy to locate people from the transaction details just like the banking system that gives first hand information of every individual.

[TheUltraElite]

Crimes are committed with any type of money being involved, using bitcoin only makes it more easier to send and transact. But fiat has seen its share of bloodshed over the years a million more times. Since there are methods to track the money trail we have forensics being able to track them down and incriminate a suspect. Then we are coming into a world where bitcoin and its tracking through government agencies might become possible, the reason why KYC on exchanges is being so important.

If this system works as its intended to do, we might see an increase in number of arrests for bitcoin-related fraud/scams/attacks and so on.

[NotATether]

Bitcoin the same as guns and any armaments does not commit crime by itself.

No, not exactly.

Bitcoin is not a weapon, like guns and armaments are. It can't kill anyone directly. Bitcoin is just money and it should be treated as such.

Whereas the discussions around gun control center around limiting duns from being owned by violent people, the pushback against BTC is mainly from banks, the people who run those banks, and to a lesser extent, conspiracy theorists.

(Banks really hate BTC, so it makes sense that they spread all kinds of rumors about it. But in the end, they can't win against a trillion-dollar asset - and counting.)