.

[fikrett]

It failed miserably. What kind of currency has one-half of transactions (46%) associated with illegal activities?

Did you check the date on the source you’re referencing? It’s...

Talis Putnins, BICEPS; University of Technology Sydney; SSE Riga  January 2019

That was from 2019, which is already five years ago. Since then, a ton of regulatory measures have been put in place to curb those kinds of transactions. If you're gonna bring up some data, make sure it's current and real-time, please.

Did you see the first post on the forum from the OP?
Yeah, that's going into my collection of great thoughts 

[davis196]

1.I don't think that Bitcoin "makes me cool" or whatever.
2.Are we going to discuss the same old "Bitcoin is being used by criminals" topic? The criminals around the world are using all fiat currencies and all cryptocurrencies. Even if we create "the perfect cryptocurrency", the criminals around the world are still going to use it. The authorities must do their work and catch as many criminals as possible. This is the only way to stop the criminals to use this or that currency.
3.Nobody is saying that Bitcoin is perfect and that Bitcoin shouldn't be improved. Maybe the mass adoption of Bitcoin as a normal currency failed. There are several reasons for this and they have already been discussed multiple times on the forum.

[FinneysTrueVision]

The study you linked to is many years out of date. You lose instant credibility when you post a link to a shitcoin announcement thread. You are not really concerned about illegal activity in Bitcoin, you just wanted to promote your own altcoin. We have seen this from many altcoin scammers before where they claim there is some unfixable flaw in Bitcoin and the only solution is to give them millions of dollars for their new shitcoin. I am fine with Bitcoin as it is and will continue holding it. I have no interest at all in whatever scam you are trying to promote.

That was from 2019, which is already five years ago. Since then, a ton of regulatory measures have been put in place to curb those kinds of transactions. If you're gonna bring up some data, make sure it's current and real-time, please.

That is the year when it was published but the study is using data from many years before that.

[Helena Yu]

It because Bitcoin is transparent, so anyone can track and know every transactions in blockchain. While other assets like fiat, stock, gold etc aren't transparent, all the transactions aren't recorded and not everyone have access to track the assets.

I think all of fiat already associated with illegal transactions, but we just don't care with that.

Anyway, your shitcoins doesn't solve anything.

[betswift]

It because Bitcoin is transparent, so anyone can track and know every transactions in blockchain. While other assets like fiat, stock, gold etc aren't transparent, all the transactions aren't recorded and not everyone have access to track the assets.

I think all of fiat already associated with illegal transactions, but we just don't care with that.

Anyway, your shitcoins doesn't solve anything.

They are all recorded, in fact (talking about fiat), however, you wouldn't be able to access them yourself, unlike having a scanner for different chains ready for you.

[rodskee]

Pick a currency.... gold, cash, crypto, etc...

Half of all transactions... period.. are used for illegal activities. 

it is such a weak argument if someone says that crypto is basically a hub for criminals when it is known that 90% of money laundering crimes to be undetected people probably thinks that money laundering with fiat is easily caught and punished because most money launderers who get caught end up in jail

but you forget to note that there are more money launderers out there that have not yet been caught and they do not even need to use crypto to launder money so the assumption that crypto is specifically used by criminals is null because even fiat is and has been used by criminals

[maydna]

People out there only see the illegal thing that Bitcoin can do but they don't research for what benefits that Bitcoin can do. I think fiat also the same as Bitcoin that people can do illegal dealing with fiat and they can hide that from the tracking if they have skill to do that.

We should see that many things have two side, positive and negative so we should use that thing for the positive. Lets people use for negative purposes if they want but we don't have to follow them. Using Bitcoin is your choice and no one will force you to do that. Same as you use fiat money.

[Hamza2424]

Pick a currency.... gold, cash, crypto, etc...

Half of all transactions... period.. are used for illegal activities. 

Hmm, I do agree with your words but a crime on crime doesn't justify that, so this excuse is not good enough. Anything digital give convenience and increases the risk of misuse due to its nature, let me give you an example X person want to fund a crime with massive amount to its scale if they wanted to fund that crime in non-digital mode they cant as to move such amount of funds cross-boarder is super difficult and just imagine now the digital mode few clicks and boom.

So everything always posses both of its aspects

[mindrust]

bitcoin doesn’t need to make cool. I’d like it to make me rich though. Probably the majority of the bitcoin hodlers think the same think. I never wanted any btc/crypto tattoo on my body. I never wanted btc themed clothes. I never wanted to show people “here! Look at me! I own crypto yeehaa!” And I find these actions very cringey.

However, I like to see my account growing in terms of both btc and usd. Now that’s what I really like. Does it make me cool? Maybe but I don’t give a damn about it. I don’t care what other people think of me anyway.

[shield132]

Bitcoin was designed to give mankind financial liberation. It failed miserably. What kind of currency has one-half of transactions (46%) associated with illegal activities?

Any proof that half of Bitcoin transactions are associated with illegal activities? Bitcoin solves the problem it was created for, but if someone uses it for illegal activities, it shouldn't be blamed. Some people use a knife to cut the bread and some people use it to murder others. Should we stop the knife production or is the knife to blame here?

Bitcoin makes me cool in that it shows I'm modern, advanced in technology, know and can use things that most of the population can't.

Pick a currency.... gold, cash, crypto, etc...

Half of all transactions... period.. are used for illegal activities. 

That's true. What about scandals around Deutsche Bank? What about scandals where the government was itself in illegal activities? I'm to the point where I think that any negative title about Bitcoin generates money for the media and benefits the government and that's it.

[YUriy1991]

Do you think Bitcoin makes you cool? My answer is Yes.

[Stable090]

You think Bitcoin makes you cool? It doesn't.


Bitcoin was designed to give mankind financial liberation. It failed miserably. What kind of currency has one-half of transactions (46%) associated with illegal activities?

Then you should have sited some currency that is not used for illegal activities. I don’t know how some people just think, there is no currency that’s not used by criminals, and bitcoin is also a currency, so we expect bitcoin to be used also. Most people do complain about bitcoin being used for illegal activities, so which currency were people using for illegal transactions before bitcoin was created? Or illegal transactions started when bitcoin was created? Seriously, it annoys me when people say that about bitcoin and they complain that it’s used by criminals. Is fiat currency not used by criminals? Why are people not complaining about it?

[Ale88]

You think Bitcoin makes you cool? It doesn't.

For me it's not about "being cool", whatever that means, it's about having a different point of view of my finances, the economy, and the world, because at the end everything is connected. Working like a slave to earn peanuts of a currency that loses its value year after year it's just stupid in my opinion. I've never known someone who bought bitcoin in order to be cool...

[tottong]

For me it's not about "being cool", whatever that means, it's about having a different point of view of my finances, the economy, and the world, because at the end everything is connected. Working like a slave to earn peanuts of a currency that loses its value year after year it's just stupid in my opinion. I've never known someone who bought bitcoin in order to be cool...

Unfortunately to be cooler or whatever it means one has to have a stable financial level and the word cool only applies to those who have the money to buy things they want.
I don't really care about world finance because there are so many lies in it and the game of the global elite in making the gap of poor lives even harder.
The world economy is forced to follow the wishes of those who have great influence in employing people and the value of the currency that continues to lose value is real slavery.

The presence of bitcoin is a solution for everyone who wants to achieve financial freedom and we have the same opportunity to gain financial benefits as long as we are involved in investing in the right and profitable way.

[Baki202]

People out there only see the illegal thing that Bitcoin can do but they don't research for what benefits that Bitcoin can do. I think fiat also the same as Bitcoin that people can do illegal dealing with fiat and they can hide that from the tracking if they have skill to do that.

People have one habit just because they don't do bitcoin, they will look for other ways to condemn the investment I see how a lot of people are saying all manner of things against bitcoin, majority of them don't even know anything about bitcoin they don't have any single idea about the whole idea, if not they won't make all the silly comments they have been making against bitcoin when I see people like that I tell them to sit down and learn and not say what they don't know, and some even have an ideology that bitcoin is scam or even used by scammers which is a very big lie.

We should see that many things have two side, positive and negative so we should use that thing for the positive. Lets people use for negative purposes if they want but we don't have to follow them. Using Bitcoin is your choice and no one will force you to do that. Same as you use fiat money.

The only negative thing I see about bitcoin is scam because the advantage is more than the disadvantage because when you keep your wallet safe, you will not have any issues with scams or what so ever, or you buy and you don't have knowledge and you want to trade and when you don't make money they start blaming bitcoin instead of them to blame them self so we can not really do anything about how people think, anything they want to think those not stop people from wanting to invest.

[coolcoinz]

Ok ok ok you are cool with Bitcoin. But what about the Bitcoin entrepreneur who had 7 holes drilled into his foot with a power drill by Bitcoin thieves?
https://nltimes.nl/2020/02/02/violent-robbery-bitcoin-trader-included-water-boarding-power-drill

What about the Bitcoin millionaire who was chopped up and put in a suitcase?
https://people.com/crypto-millionaire-found-dead-dismembered-in-suitcase-argentina-7566887

What about the suicides of those who lost everything? Can we blame losers for being stupid, or Bitcoin for being apathetic to human grief?

What about them? We have millions of people using bitcoin around the world and all you can point to is a few robberies?
Do the math. What percentage of bitcoin holders is affected by crime, like robbery, theft, murder, and what percentage of fiat holders?

You're trying to make a big deal out of nothing and blame it on the inanimate object like currency, pretty much like saying that since there are car thefts every single day and people die in accidents all the time, cars have failed miserably as means of transport.

Do you think people aren't being killed and robbed all around us with no cryptocurrencies involved? A few years back some guy in my town stabbed his relative to death and the police were looking for him for a few days. I also remember a case where an old lady and her husband were attacked at home and robbers were burning them with hot iron to make them talk where they hold cash.
You can wipe out crypto and we will keep killing and robbing each other.

[hyudien]

Actually we have wasted time with this thread, because what OP is talking about bitcoin failure is the opposite of the fact. I don't know what the clear purpose is in bitcoin why is it cool? just a quantitative assessment? you missed too much development because an institution as big as Blackrock would not be reckless in including Bitcoin in its ETF.

Bitcoin doesn't make me cool, but at least it gives everyone an equal chance in the digital financial revolution.

[Stalker22]

This makes my point exactly. Bitcoin is just like any other currency. Like I told Zlantann. It may have a different lipstick. But it's still a monkey.

Bitcoin is not like any other currency. Its a decentralized digital asset (the first of its kind) with no central authority or intermediary. Thats a fundamental difference.

As for your other arguments, do you know how many people die every day in traffic accidents, or commit vehicular suicide? Would you deny the value of a car as a means of transportation and ask people to stop using it?

Just like a car, Bitcoin is just that - a financial vehicle.  It does not support scams and thefts, does not finance terrorism, does not kidnap or kill people, does not starve children... People do that!

[alastantiger]

Bitcoin's journey has certainly been controversial, and while its decentralized nature offers financial freedom to some, it's clear that challenges like trust, security, and misuse in illegal activities persist. That being said, every financial system, from fiat to cryptocurrency, faces issues with exploitation.

All currency has their flaws and Bitcoin isn't an exception but Bitcoin offers more satisfaction as a currency than any fiats will ever have. Owning Bitcoin doesn't only make you cool but it adds to your financial strengths as it shows you understand the shift in power. One type of payment system can't dominate the world forever. It has to changed at some point because it had previously moved from gold to fiats and soon, It'll be moving from fiats to cryptocurrency.

The earliest adopters of every technology becomes cooler when the technology becomes a successful one just as Bitcoin has become a successful one. Assuming Bitcoin didn't see success and it failed to gained the attention of the public, they won't be seen as cool but because Bitcoin made it despite all the odds against it. The first set of adapters have to be given their credit for believing in Bitcoin.

[Hamza2424]

Actually we have wasted time with this thread, because what OP is talking about bitcoin failure is the opposite of the fact. I don't know what the clear purpose is in bitcoin why is it cool? just a quantitative assessment? you missed too much development because an institution as big as Blackrock would not be reckless in including Bitcoin in its ETF.

Bitcoin doesn't make me cool, but at least it gives everyone an equal chance in the digital financial revolution.

Ahhh these words are too heavy for me, kind of similar to OP's words, actually we need to calm down. Honestly, Bitcoin is just a payment medium just like many other traditional ones but with a different concept. That's it and for the OP's nonsense just check out the thread thats mentioned on this topic.

Digital financial revolutions I would love to hear more.