|
MegaHustlr
|
 |
July 27, 2014, 01:38:14 PM |
|
Has the use of Bitcoin for illegal things such as purchasing drugs, weapons, fraudulent documents and laundering money effected its value?
Yeah, it probably has. Bitcoin got its start buy being used to buy such things. It doesn't effect the price negtively but positvely. You can buy all these things with fiat money as well remember. |
|
|
|
|
|
|
|
|
In order to get the maximum amount of activity points possible, you just need to post once per day on average. Skipping days is OK as long as you maintain the average.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
johnd7
Newbie
 Offline
Activity: 53
Merit: 0
|
|
July 27, 2014, 04:04:26 PM |
|
Has the use of Bitcoin for illegal things such as purchasing drugs, weapons, fraudulent documents and laundering money effected its value?
i think it effects badly even killing bitcoin in some countires. |
|
|
|
|
|
RobertDJ
|
|
July 27, 2014, 04:18:29 PM |
|
Illegal uses of bitcoin has both positive and negative effect on bitcoin.
Some people will buy bitcoin, probably lots, exclusively for illegal trades. Some people will misunderstand bitcoin as a currency for illicit goods and slow down adoption. Governments will clamp down on bitcoin with strict regulations against money laundering, but in turn legitimise bitcoin as an taxable asset.
Who can be sure which side is more dominant?
I think this is true, especially so during bitcoin's early days when, I would think that a lot of people used it to buy illegal drugs on SR, which likely drove up the price. I also don't think it was a consistence that the price of bitcoin skyrocketed shortly after it made front page news that you could use bitcoin to buy illegal drugs anon on the internet. |
|
|
|
|
yayayo
Legendary
Offline
Activity: 1806
Merit: 1024
|
|
July 27, 2014, 05:13:10 PM |
|
Not everything that is outlawed in some countries can be considered morally illegitimate. And the other way around.
That said, I don't think that *illegal* use of bitcoin has a great influence on price. But I say that *any* use has a great influence on price.
More use = higher prices.
ya.ya.yo!
|
|
|
|
|
|
.
..1xBit.com Super Six.. | ▄█████████████▄
████████████▀▀▀
█████████████▄
█████████▌▀████
██████████ ▀██
██████████▌ ▀
████████████▄▄
███████████████
███████████████
███████████████
███████████████
███████████████
▀██████████████ | ███████████████
█████████████▀
█████▀▀
███▀ ▄███ ▄
██▄▄████▌ ▄█
████████
████████▌
█████████ ▐█
██████████ ▐█
███████▀▀ ▄██
███▀ ▄▄▄█████
███ ▄██████████
███████████████ | ███████████████
███████████████
███████████████
███████████████
███████████████
███████████▀▀▀█
██████████
███████████▄▄▄█
███████████████
███████████████
███████████████
███████████████
███████████████ | ▄█████
▄██████
▄███████
▄████████
▄█████████
▄██████████
▄███████████
▄████████████
▄█████████████
▄██████████████
▀▀███████████
▀▀███████
▀▀██▀ | ▄▄██▌
▄▄███████
█████████▀
▄██▄▄▀▀██▀▀
▄██████ ▄▄▄
███████ ▄█▄ ▄
▀██████ █ ▀█
▀▀▀ ▄ ▀▄▄█▀
▄▄█████▄ ▀▀▀
▀████████
▀█████▀ ████
▀▀▀ █████
█████ | ▄ █▄▄ █ ▄
▀▄██▀▀▀▀▀▀▀▀
▀ ▄▄█████▄█▄▄
▄ ▄███▀ ▀▀ ▀▀▄
▄██▄███▄ ▀▀▀▀▄ ▄▄
▄████████▄▄▄▄▄█▄▄▄██
████████████▀▀ █ ▐█
██████████████▄ ▄▄▀██▄██
▐██████████████ ▄███
████▀████████████▄███▀
▀█▀ ▐█████████████▀
▐████████████▀
▀█████▀▀▀ █▀ | .
Premier League
LaLiga
Serie A | .
Bundesliga
Ligue 1
Primeira Liga | | .
..TAKE PART.. |
|
|
|
Erdogan
Legendary
Offline
Activity: 1512
Merit: 1005
|
|
July 27, 2014, 06:23:19 PM |
|
There is no illegal use of bitcoins and there can never be.
|
|
|
|
|
|
bitcoin4eva
|
|
July 27, 2014, 06:40:12 PM |
|
I don't think it has a negative affect to the value. I think it has a positive one. Illegal purposes still play a big role in it and more people use the currency.
|
|
|
|
|
gambian-
Newbie
Offline
Activity: 28
Merit: 0
|
|
July 27, 2014, 10:50:12 PM |
|
The price dropped then dramatically increased on the day of the Silk Road closure. I'm not sure what impacts Bitcoin for better or worse when it comes to illegal use.
Boggles me
|
|
|
|
|
|
sed
|
|
July 27, 2014, 10:53:07 PM |
|
Unlikely, BTC is use agnostic. Utility is utility, legality does not matter unltimately
No but the earlier posts were right about the fact that during 2012 and 2011 if/when btc hit the popular media it was alway "this thingy is used by criminals to make crime easier". Nowadays the perceptions in the media have changed in that we usually don't hear this tagline about criminals. I personally think that these sorts of perceptions do affect adoption which does in turn affect valuation. |
|
|
|
|
|
joshraban76
|
|
July 28, 2014, 08:36:51 PM |
|
I wouldn't say that using bitcoin for illegal purchasing of things like drugs and such would affect the value at all. It is not just bitcoin that is used to purchase these kind of things. Money we all carry in our pockets on a daily basis can be used for such things but does the value drop on those because it is used for purchasing illegal goods? Not at all.
|
|
|
|
polynesia
Legendary
Offline
Activity: 1358
Merit: 1000
|
|
July 29, 2014, 02:09:30 AM |
|
Unlikely, BTC is use agnostic. Utility is utility, legality does not matter unltimately
No but the earlier posts were right about the fact that during 2012 and 2011 if/when btc hit the popular media it was alway "this thingy is used by criminals to make crime easier". Nowadays the perceptions in the media have changed in that we usually don't hear this tagline about criminals. I personally think that these sorts of perceptions do affect adoption which does in turn affect valuation. There is no such thing as bad publicity. The earlier media reports did help expand the awareness of bitcoin. |
|
|
|
|
|
tee-rex
|
|
July 29, 2014, 11:11:59 AM |
|
Unlikely, BTC is use agnostic. Utility is utility, legality does not matter unltimately
No but the earlier posts were right about the fact that during 2012 and 2011 if/when btc hit the popular media it was alway "this thingy is used by criminals to make crime easier". Nowadays the perceptions in the media have changed in that we usually don't hear this tagline about criminals. I personally think that these sorts of perceptions do affect adoption which does in turn affect valuation. . The earlier media reports did help expand the awareness of bitcoin. You are indeed right about that part, but I don't think that Satoshi conceiving his brainchild would be quite happy if Bitcoin had to be honored with what is called Herostratic fame. |
|
|
|
|
polynesia
Legendary
Offline
Activity: 1358
Merit: 1000
|
|
July 29, 2014, 04:19:34 PM |
|
You are indeed right about that part, but I don't think that Satoshi conceiving his brainchild would be quite happy if Bitcoin had to be honored with what is called Herostratic fame.
Yes, it was infamous earlier; but all that has been set right now. |
|
|
|
|
|
Malin Keshar
|
|
July 29, 2014, 09:11:18 PM |
|
Silk Road gave exposure to bitcoin, so people could get in touch also with the good side of bitcoin, also exposed in the media, even if with less emphasis.
Also increased the demand for bitcoins, like any other made mainly with bitcoins.
|
|
|
|
|
keithers
Legendary
Offline
Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
|
|
July 29, 2014, 10:33:14 PM |
|
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
|
|
|
|
|
Este Nuno
Legendary
Offline
Activity: 826
Merit: 1000
amarha
|
|
July 30, 2014, 12:16:28 PM |
|
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC. |
|
|
|
|
|
tee-rex
|
|
July 30, 2014, 03:30:31 PM |
|
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC. And after that came the Cyprus disaster which showed people that banks were not reliable anymore (in fact they never had been, to begin with), and can easily take away the money you trusted them with on an ad-hod basis. |
|
|
|
|
|
sed
|
|
July 30, 2014, 04:06:33 PM |
|
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC. But wait, if the price hasn't ever fallen below 30$ since, are you correct in calling the increase to 30$ a "bubble"? |
|
|
|
|
Este Nuno
Legendary
Offline
Activity: 826
Merit: 1000
amarha
|
|
July 30, 2014, 04:16:45 PM |
|
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC. But wait, if the price hasn't ever fallen below 30$ since, are you correct in calling the increase to 30$ a "bubble"? What? The price went down to a few dollars. |
|
|
|
|
|
counter
|
|
July 30, 2014, 04:49:53 PM |
|
Yeah I'm going with no. There may be small minority of people who don't understand Bitcoin and they believe the negative press but I doubt that is going slow down growth significantly. Anybody person really paying attention would realize that fiat is used in the exact same manner and way more and for far worse then Bitcoin.
If you ask me the only thing really affecting the price is trust in the system and ease of use. These things will be approved upon and people will adapt BTC as time progresses IMO.
|
|
|
|
|
|
sed
|
|
July 30, 2014, 09:37:16 PM |
|
I think the illegal use of BTC is affecting the price less and less as time goes on. In the beginning, I think it actually had a positive effect because it got people talking about it.
I first heard of BTC because I heard about people buying drugs, IDs, etc, online "anonymously" I was intrigued, so I researched more and that is how I first learned of BTC
It definitely help drive the first bubble to ~$30. It was all over the news as I remember. Even congressmen were mentioning BTC. But wait, if the price hasn't ever fallen below 30$ since, are you correct in calling the increase to 30$ a "bubble"? What? The price went down to a few dollars. Ok, I think I see what you're talking about now. But again, given that prices eventually recovered and have sustained at much more than 30$, can you really say that 30$ was a bubble? |
|
|
|
|
|
