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Author Topic: Don’t involve Bitcoin in illegal practices  (Read 696 times)
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April 09, 2025, 05:44:10 AM
Merited by promise444c5 (1)
 #61

Illegal acts attached to Bitcoin can't stop it global adoption, neither does it stop any of it's benefits and also,  you can only the spread the awareness , persuade people into using it legally  but still doesn't  change the fact it will still  be used for illegal activities..Fiat and likes are also used for illegal activ.. just as everyone mentioned here already, nothing is really changing.. The aim of Bitcoin  is to promote  decentralization which means, you have total control of your coins
The world does not stop using fiat currencies because scams or money laundering activities related to fiat currencies. Same with gold and the world does not stop using knives, guns because criminals use knives and guns to kill other people for example.

Bitcoin has many use cases and people are free to access Bitcoin and its blockchain as well as use bitcoin in their own ways. Criminals use bitcoin for money laundering activities but they can not force me to do the same. I can use my bitcoin without dependence on criminals and criminals don't rely on my opinion to do their jobs.

Quote
it could be traced by anyone  but every user behind each transaction is supposed to be anonymous (unless there has been some connection to the identity somehow).
Bitcoin blockchain is not a private blockchain and you can not have anonymity with Bitcoin transactions but there are some guides and helpful practical steps to enhance your privacy.
https://www.lopp.net/bitcoin-information/privacy.html
https://bitcoiner.guide/privacy/
General guidelines for sending BTC transactions.

Privacy and anonymity are diffferent, it's an important note.

R


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April 09, 2025, 05:47:26 AM
Merited by promise444c5 (1)
 #62

If we purposely aim for future global adoption, as much as possible we should avoid linking bitcoin into different illegal acts, otherwise bitcoin will lose its credibility as a digital currency and totally lose the future opportunity that is stored for bitcoin. Let’s not drag bitcoin into illicit practices. Bitcoin has a lot of advantages and I know if all of these will be done rightly and responsibly, in the end we will also be the one to benefit the most.
Illegal acts attached to Bitcoin can't stop it global adoption, neither does it stop any of it's benefits and also,  you can only the spread the awareness , persuade people into using it legally  but still doesn't  change the fact it will still  be used for illegal activities..Fiat and likes are also used for illegal activ.. just as everyone mentioned here already, nothing is really changing.. The aim of Bitcoin  is to promote  decentralization which means, you have total control of your coins, it could be traced by anyone  but every user behind each transaction is supposed to be anonymous (unless there has been some connection to the identity somehow).
Any valuable form can be used to trade in illegal activities, whether it's fiat, gold, or digital currencies like Bitcoin, none are exempt from such uses.
IMO, it's because Bitcoin is very easy to trade digitally, it can be used in many transactions common today.

It depends on how we choose to use Bitcoin, legally or illegally.
There's nothing we can change about that fact.  Bitcoin is prone to being used in illegal activities due to its decentralized nature, which enhances privacy and can be abused.

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April 09, 2025, 09:42:52 AM
 #63

Of course scammers and criminals are everywhere always trying to come up with a different initiative to deceive people or carryout criminal activities using Bitcoin to hide their tracks tarnishing the name of bitcoin for us. You're right, no matter what we do nothing can be done to stop them but the least we can do is to just keep reminding people about using Bitcoin for criminal activities it might touch someone someday just like OP is doing so don't underestimate these reminders.
There are always good and bad people in this life so we can't all be good people if not the world be kind of boring Lol. Let's just hope we don't fall in the hands of bad people and always fight against any act that wants to spoil Bitcoin's name.


Bitcoin was developed to be a digital currency that can facilitate people's transactions globally through a decentralized system. As for how people use it, we will not know, whether they use it for good or bad purposes, that is their business. But what is certain is that it is the right thing if we can educate people to use Bitcoin for positive things only, for example for cross-border transactions or long-term investments, that is something we can educate others about how they can use Bitcoin. Thus we can spread good education about the use of Bitcoin to people.

R


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April 09, 2025, 10:36:44 AM
 #64

People can only know the gravity of this thread if they've been in the gathering of the victims of Bitcoin or of those who are aware of the victims of Bitcoin. You dare not talk about Bitcoin in their presence. This is a discouragement, but is it the fault of Bitcoin? Certainly not. It's just unfortunate that some unscrupulous elements use the name of Bitcoin to perpetrate their evil.

From Ponzi schemes to Romance scams to Frauds linked to bank wire/cc-linked to Phishing to Fake apps, especially investment and dating apps etc.

Well, like I tell people, Bitcoin is good and neutral with whatever you use it for. Let your conscience judge you on what you use yours for, and I urge people to rather learn to know the truth than condemn Bitcoin outrightly.

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April 09, 2025, 11:12:11 AM
 #65

The perception that Bitcoin is a tool for money laundering has shifted, many people have now seen it's potentials as a store of value, an asset that they can hold and get profit on the long term. We can't stop criminals from holding Bitcoin, when they use it for criminal transactions, they will make mistakes, the transactions will be traced and somewhere along the line they will be caught. Transactions can be traced if they use CEX accounts and gambling accounts. It is left for us to protect our wallet accounts by not allowing people to use it for transactions because it can be for money laundering that you are not aware of.

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April 09, 2025, 11:41:25 AM
 #66

In previous years, Bitcoin was known to be involved in many fraudulent activities such as Silk Road, which has been an illegal Darknet market for drugs and weapons. Bitcoin was a big strategy by criminals but luckily, Bitcoin has become more mainstream and criminals were caught. Today, Bitcoin is known for being a reliable digital transactions asset but still some Bitcoin is involved in criminal activities.


For clarity sake, bitcoin has never been a form of financial technology being developed for individuals to run their illegal shits rather, it decentralized and anonymous potentialities has been a loophole where criminals feel save to do their shits and hope would get Scott free. But can can that the security networking system of the bitcoin blockchain has been tied stronger which has set upon tracking of transaction and so also the Crypto wallets platforms has advanced it security further than back in the days.
Even up til date, criminal activities has not seem to end and as long scamming and money laundering is real, such illegal activities around the horizon of cryptography won't get to an end.
Note: every financial sectors including the banks are not exempted of the illegal activities we are talking about here.

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April 09, 2025, 12:48:39 PM
 #67

Illegal acts attached to Bitcoin can't stop it global adoption, neither does it stop any of it's benefits and also,  you can only the spread the awareness , persuade people into using it legally  but still doesn't  change the fact it will still  be used for illegal activities..Fiat and likes are also used for illegal activ.. just as everyone mentioned here already, nothing is really changing.. The aim of Bitcoin  is to promote  decentralization which means, you have total control of your coins, it could be traced by anyone  but every user behind each transaction is supposed to be anonymous (unless there has been some connection to the identity somehow).
People using Bitcoin for illegal activities is concern but it is not likely to stop its global adoption or reduce its benefits. Teaching people about Bitcoin and how to use it responsibly can encourage them to follow law. However because Bitcoin is decentralized it is hard to completely stop people from using it for bad things. Other money systems like traditional currencies are also used for illegal activities showing that no system is completely safe from being misused. If we see key benefit of Bitcoin is that it allows users to control their money and make anonymous transactions unless their identity is connected to transaction. This anonymity can be both good and bad but it is core part of what makes Bitcoin appealing. At end benefits of Bitcoin such as promoting financial freedom and inclusion might be more important than risks of it being used for bad things.

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April 09, 2025, 01:59:57 PM
 #68


People using Bitcoin for illegal activities is concern but it is not likely to stop its global adoption or reduce its benefits. Teaching people about Bitcoin and how to use it responsibly can encourage them to follow law. However because Bitcoin is decentralized it is hard to completely stop people from using it for bad things. Other money systems like traditional currencies are also used for illegal activities showing that no system is completely safe from being misused. If we see key benefit of Bitcoin is that it allows users to control their money and make anonymous transactions unless their identity is connected to transaction. This anonymity can be both good and bad but it is core part of what makes Bitcoin appealing. At end benefits of Bitcoin such as promoting financial freedom and inclusion might be more important than risks of it being used for bad things.

I would argue that illegal activities promoted and helped mass adoption, rather than hinder it. Before the Silkroad scandal, much less people knew about or heard about bitcoin. And ocne they realised, hey, bitcoin can be used as money, and you can make it from air, people started investigating into it. It's like the old saying, bad PR is still PR

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nakamura12
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April 09, 2025, 02:26:40 PM
 #69

<.....>
If it's about illness or diseases then this saying "prevention is the best medicine" is also the same against those scammers and criminals so reminding people should be helpful to prevent someone form falling such schemes compared to not doing anything at all. It is also similar to it's better to be safe than sorry.

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April 09, 2025, 02:41:44 PM
 #70

Reason for Bitcoin's invention was to help fight inflation, freedom from the traditional monetary (fiat) system of control by the government or centralisation, and to help the cross border payments to become more easier and not to use it for illegal activities such as money laundering, buying and selling of hard drugs and illegal weapons, however there's always gonna bad eggs, people that will want to disrupt the good system to try to paint it bad.

 
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SilverCryptoBullet
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April 09, 2025, 04:26:00 PM
 #71

Reason for Bitcoin's invention was to help fight inflation, freedom from the traditional monetary (fiat) system of control by the government or centralisation, and to help the cross border payments to become more easier and not to use it for illegal activities such as money laundering, buying and selling of hard drugs and illegal weapons, however there's always gonna bad eggs, people that will want to disrupt the good system to try to paint it bad.
Bitcoin was not created to prevent any thing like money laundering or illegal activities that can not be controlled or prevented 100%. You can not prevent knives to be used by bad people, same with guns to kill people, and you can not prohibit people using Bitcoin for illegal activities. It's their willingness to use Bitcoin illegally but that's it.

Satoshi Nakamoto created Bitcoin for everyone and did not restrict anyone to use Bitcoin. If criminals did illegal things, you knew it, you can report it to police or government if you want to enhance safety of your nation or local community.











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April 09, 2025, 04:36:34 PM
 #72

Reason for Bitcoin's invention was to help fight inflation, freedom from the traditional monetary (fiat) system of control by the government or centralisation, and to help the cross border payments to become more easier and not to use it for illegal activities such as money laundering, buying and selling of hard drugs and illegal weapons, however there's always gonna bad eggs, people that will want to disrupt the good system to try to paint it bad.


Since this people exist, then it means Bitcoin isn't just the only medium for carrying out illegal activities and collecting illegal payments. There are other medium as well, including the fiat currencies, but unfortunately, Bitcoin has been singled out in most occasions and treated as the real threat to these crimes related acts. It's actually the lack of central authority has even made things a bit difficult, but we all understand, so there is no big deal. Bad people will continue to exist, but as Bitcoin adoption keeps increasing, the good will certainly overshadow the bad.

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April 09, 2025, 05:37:15 PM
 #73

It is up to us to improve Bitcoin and get rid from fraudulent and illegal activities involving Bitcoin. We should not support fraudulent and illegal activities, we should not protect criminals or scammers. Bitcoin is very useful but if some criminals will use Bitcoin to purchase a weapon, where possibly people are murdered from, Bitcoin will take damage and we should not support it.
Bitcoin has improved impressively since Silk Road was busted and Bitcoin growing will help Bitcoin to get independent from criminals and scammers.
As a believer in Bitcoin who knows the importance of Bitcoin and what humanity stands to gain with it, it is our sole responsibility to defend and support Bitcoin wherever we find ourselves, people talking about it, be it good or bad about Bitcoin. That's the effort we can really put in place.

For any fraudulent acts and illegal activities, we can't get rid of them because not everyone is a believer in Bitcoin. There are people on earth who have bad intentions about Bitcoin, seeing Bitcoin as a means of carrying out illegal activities and fraudulent acts. We don't know who they are, if we do, the last thing we can do is to report them to the police for their arrest.

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April 09, 2025, 05:50:46 PM
 #74

Yes, it is possible to engage in illegal activities through Bitcoin, but if you consider the case of fiat currency, you will see that it is constantly involved in illegal activities. If we use crypto currency for P2P transactions such as smuggling, arms trading, drug trafficking, etc., then there is definitely nothing we can do if we get involved in illegal activities. Because transactions involving illegal activities cannot be easily detected. It depends on a user how he uses his crypto currency. If he is a good person then he will use it in a good way and if he is a bad person then it is natural that he will use it in a bad way. Bad people will use Bitcoin in bad ways, and they will engage in bad deeds even if they have fiat currency.
I like the last paragraph of your statement, yes I largely agree with you. You know naturally Bitcoins nature makes it look like it was programed for illegal activities, because with  dex wallet to wallet p2p, a person may perform an illegal transaction or business without the notice of the bank or any third party because it's completely a hidden transaction that can not be tracked except it is seached in the Blockchain. Although fiat can also be transferred to the bank without a physical cash but if it's a larg sume of money then you may have questions to answer in the bank compared to Bitcoin secret transaction. So even as Bitcoin nature makes it looks like currency for illegal transaction but we must try to protect it. The bad reputation can be spread more, if its done by bad people but positive view will be more if its spread by good people, let  keep spreading the good news because Bitcoin has more positive feature than negative.

 
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April 09, 2025, 06:07:06 PM
 #75

Reason for Bitcoin's invention was to help fight inflation, freedom from the traditional monetary (fiat) system of control by the government or centralisation, and to help the cross border payments to become more easier and not to use it for illegal activities such as money laundering, buying and selling of hard drugs and illegal weapons, however there's always gonna bad eggs, people that will want to disrupt the good system to try to paint it bad.

Like I'll always say, there will always be those people who want to misuse anything good. No matter how we try to use BTC in the good way, there's always the bad side. Bitcoin was created to give financial freedom to it's investors where they don't have to depend on the government for anything. Yes bitcoin provides you with certain amount of privacy and people will want to exploit these extra features that comes along side BTC. We can't totally eliminate the wrong use case of bitcoin but we can continue to expand the good side of it as an investment.

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July 05, 2025, 11:20:11 AM
 #76

If we purposely aim for future global adoption, as much as possible we should avoid linking bitcoin into different illegal acts, otherwise bitcoin will lose its credibility as a digital currency and totally lose the future opportunity that is stored for bitcoin. Let’s not drag bitcoin into illicit practices. Bitcoin has a lot of advantages and I know if all of these will be done rightly and responsibly, in the end we will also be the one to benefit the most.
This is something you can't preach to everybody involved with Bitcoin, millions of people have different intentions, all intentions can't be of good, there are scammers who uses Bitcoin as an option and are comfortable doing it over and again. Fiats are not exempted, scammers who are not familiar with digital currencies will decide on several fiats as options, scammers are breeds of different kind, doubts to their real intentions, in every way they try, Bitcoin good still over shadows for any unlawful and illegal use of Bitcoin, both in moral conduct.

If the usage Bitcoin is generally accessible to anyone that can then regulating making use of it the way they want it to be use can be very difficult or can not be regulated rather, the preaching should be about staying away from illegal practices which is not possible that everyone will listen to, scamming has long started and indifferent forms just as you have stated, dragging Bitcoin to this will not bring a permanent solution to fraudulent activities happening all over the world, the question is those indulging in such illegal activities don't they get the consequences of their actions when caught? The answer is yes they do face the penalty of their actions when caught therefore this preaching from the op is nothing to be worried about.

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