Some bad uses of bitcoin. :'(

[Saint-loup]

You shouldn't be naive it's an excuse actually. Unlike fiat money and valuable goods, cryptocurrencies can be easily tracked through the blockchain. And many criminals have been arrested thanks to them. In addition when terrorists and criminals use cash money to fund their crimes. The reality is states are afraid to not being able to recover taxes as they want and are frightened for their central bank money, in addition banks are also frightened and put a big pressure on governements for not being discarded by cryptocurrencies.

[Ludmilla_rose1995]

Since Bitcoin is a completely decentralized currency, there is no way to know when and how much money is being sent to whom, both the sender and receiver remain anonymous. So Bitcoin is used to buy and sell various criminal and illegal products. So various arms smuggling activities are paid through Bitcoin. Also, all transactions on the dark web are done through Bitcoin. Which is very sad for us


It is essentially a perfect medium of transaction for all the terrorists and criminals of the dark web. This is why the governments of different countries have declared Bitcoin illegal in their countries. If these actions could be stopped somehow, Bitcoin would be legal in all countries of the world. But in any case, I hope that slowly Bitcoin will be able to gain legality in all countries.

become a medium of payment for criminal activities? you misunderstood, there have been criminals for a long time and they didn't use bitcoin, they used fiat at first then because they saw bitcoin as very safe and easy to use then they tried to use bitcoin, but they didn't realize that everything was tracked with blockchain technology, so Bitcoin is actually not suitable to be used as a payment medium for criminal activities

Even without legality from the state, Bitcoin will still have a large user base and will continue to be of interest to large investors, including institutions

[goldkingcoiner]

Since Bitcoin is a completely decentralized currency, there is no way to know when and how much money is being sent to whom, both the sender and receiver remain anonymous. So Bitcoin is used to buy and sell various criminal and illegal products. So various arms smuggling activities are paid through Bitcoin. Also, all transactions on the dark web are done through Bitcoin. Which is very sad for us


It is essentially a perfect medium of transaction for all the terrorists and criminals of the dark web. This is why the governments of different countries have declared Bitcoin illegal in their countries. If these actions could be stopped somehow, Bitcoin would be legal in all countries of the world. But in any case, I hope that slowly Bitcoin will be able to gain legality in all countries.

Ok first of all: How does this topic fit into the Bitcoin speculation board?

And secondly, either Bitcoin provides freedom to everyone or no one. You cannot really have it both ways. So obviously there will be criminals who use it. But does that mean that Bitcoin is the preferred medium or more useful to criminals? No.

If anything, fiat money is much more anonymous and more easily laundered than Bitcoin. And that is what 99.9% of all criminals use. And yet the Dollar or Euro paper notes are very much legal and not frowned upon. Why is that?

I would argue that a money like Bitcoin, which is based on a public ledger is actually reducing crime because it is far more transparent and traceable than fiat.

[yhiaali3]

There is no way to prevent criminals and terrorists from using Bitcoin to launder money, trade drugs and weapons, or finance terrorism. These things existed before Bitcoin and will continue to exist after it, and governments have not been able to prevent them.

Using Bitcoin in a bad way does not mean that Bitcoin is bad or that governments should ban it. Everything has a negative and positive side. For example, the Internet can be used for many good and useful things, but at the same time, criminals and terrorists use the Internet to carry out all their criminal and terrorist operations. So, will governments ban Internet because of that?

[adaseb]

These days the negative uses of bitcoin are extremely rare. Everybody in it now is using it to get rich pretty much, its no longer used on Silk road. These days they got sophisticated analytic software and it can easily find out where the funds came from and where they were sent. If someone sends some tainted bitcoins to a exchange it will most likely get flagged and you won't be able to withdraw it anyways.

The governments are over-estimating the numbers of illegal activity with bitcoin, fiat is the most common form of illegal currency not crypto. But certain governments are very strict and they dont want their people to put their savings in a inflation proof currency and hence they ban it, most governments haven't banned it and they wont.

[EarnOnVictor]

Since Bitcoin is a completely decentralized currency, there is no way to know when and how much money is being sent to whom, both the sender and receiver remain anonymous. So Bitcoin is used to buy and sell various criminal and illegal products. So various arms smuggling activities are paid through Bitcoin. Also, all transactions on the dark web are done through Bitcoin. Which is very sad for us

You are mixing things up my friend, for the fact that Bitcoin is decentralised doesn't mean its transactions are untraceable. Decentralisation of Bictoin only means that no central authority can control it, not even the creator, which is a very good one. But all transactions are traceable in a normal mechanism. The issue starts with blenders, mixers, tumblers and others, they are the bad actors here. They will make sure that the Bitcoin you received or sent are not traceable anymore, so they can use it for all sorts of illegal activities afterwards, and that will even be to and fro of the transaction not minding the amount they will pay those who are making the money anonymous for them since it is for illegal purpose. Although some people mix their Bitcoin without any bad intentions, however, their percentage may not be so much.

You can see that Bitcoin itself has never been bad but the desperately wicked minds of people are attracting the bad name to it for their selfish gains. I hope this can stop one day, it will be nice if there are crypto police that are highly equipped to trace such transactions and pull them down. This will also discourage people from patronising them. But before you know it, you will hear people defending such services claiming that some people use those services for their privacy to as well

[bittraffic]

There is no known website anymore that I know that works like Silkroad but maybe there are .onion sites still.

Criminals by now already realized Bitcoin is not a good crypto to use for illegal drugs since it can be traced. But most likely they are going to be using XRM.
Would it be considered buying anon coins or memecoins using BTC a bad use of BTC?