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Author Topic: Illegal use of Bitcoin affecting its value?  (Read 7704 times)
superresistant
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September 09, 2014, 12:04:28 PM
 #121

For me it will affect positively. Not negatively.
Kindly elaborate this one?

There is no such thing as bad advertisement.

"The only thing worse than being talked about is not being talked about."
— Lady Bracknell, Oscar Wilde's The Importance of Being Earnest
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SueGiant
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September 09, 2014, 04:23:57 PM
 #122

i think because illegal use of BTC, the value won't down & maybe went up because they usually but a large amount of BTC
Maybe people (who not use BTC) think BTC used for bad purpose only

Correct.. It doesnt matter as long as people talks about BTC then its good for BTC.
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September 09, 2014, 04:24:27 PM
 #123

For me it will affect positively. Not negatively.
Kindly elaborate this one?

There is no such thing as bad advertisement.

"The only thing worse than being talked about is not being talked about."
— Lady Bracknell, Oscar Wilde's The Importance of Being Earnest


Just like bad publicity is still a publicity. Smiley

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September 10, 2014, 12:51:45 AM
 #124

Yeah, it probably increases price lol.
leannemckim46
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September 10, 2014, 05:03:31 AM
 #125

For me it will affect positively. Not negatively.

Kindly elaborate this one?
How much commerce was done on SR? It was a lot. IIRC Ross was guaranteeing the fiat value of bitcoin transactions held in escrow. So if the seller was willing to give a refund then the refund would be given in terms of dollars instead of bitcoin. This likely not only got more people to buy on SR but also got people into bitcoin.

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NeedsMoreBTC
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September 10, 2014, 06:24:37 PM
 #126

Who cares? all that matters is adoption, how you use money is your responsability.
robstak
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September 11, 2014, 02:07:30 AM
 #127

For me it will affect positively. Not negatively.

Kindly elaborate this one?
How much commerce was done on SR? It was a lot. IIRC Ross was guaranteeing the fiat value of bitcoin transactions held in escrow. So if the seller was willing to give a refund then the refund would be given in terms of dollars instead of bitcoin. This likely not only got more people to buy on SR but also got people into bitcoin.

The Silk Road issue made a great publicity, bitcoin became more popular and widely acceptable around the world. Any kind of exposure is good for bitcoin.
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September 11, 2014, 10:03:16 AM
 #128

Thanks to Silk Road bitcoin hit the mainstream news, news is news anyway.
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September 12, 2014, 02:14:49 AM
 #129

For me it will affect positively. Not negatively.

Kindly elaborate this one?
How much commerce was done on SR? It was a lot. IIRC Ross was guaranteeing the fiat value of bitcoin transactions held in escrow. So if the seller was willing to give a refund then the refund would be given in terms of dollars instead of bitcoin. This likely not only got more people to buy on SR but also got people into bitcoin.

The Silk Road issue made a great publicity, bitcoin became more popular and widely acceptable around the world. Any kind of exposure is good for bitcoin.
I think people were actually using bitcoin in order to buys illegal drugs in ways they thought were less risky in terms of potential legal consequences.
zimmah
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September 12, 2014, 12:12:09 PM
 #130

are illegal uses of dollars affecting it's value?

i don't think so

if anything, it increases it.

money is worthless if it can't be used to do whatever you want with it.
Daniel91
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September 12, 2014, 01:06:22 PM
 #131

are illegal uses of dollars affecting it's value?

i don't think so

if anything, it increases it.

money is worthless if it can't be used to do whatever you want with it.

I agree.
Value of bitcoin depends on Market, buying/selling and demand of this currency.
If people thinks they can make profit with bitcoin, ir use it for buying digital goods/services, value of bitcoin will rise.
Otherwise, value of bitcoin will go down.



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[15.00000000 BTC]


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Rainbot
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September 12, 2014, 02:31:01 PM
 #132

Has the use of Bitcoin for illegal things such as purchasing drugs, weapons, fraudulent documents and laundering money effected its value?

Nope. Just trader affecting the prices..
botany
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September 14, 2014, 09:13:45 AM
 #133

For me it will affect positively. Not negatively.

Kindly elaborate this one?
How much commerce was done on SR? It was a lot. IIRC Ross was guaranteeing the fiat value of bitcoin transactions held in escrow. So if the seller was willing to give a refund then the refund would be given in terms of dollars instead of bitcoin. This likely not only got more people to buy on SR but also got people into bitcoin.

The Silk Road issue made a great publicity, bitcoin became more popular and widely acceptable around the world. Any kind of exposure is good for bitcoin.

Yes, it generated curiosity among people. More people discovered bitcoin because of the publicity surrounding this.
wasserman99
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September 15, 2014, 12:28:46 AM
 #134

For me it will affect positively. Not negatively.

Kindly elaborate this one?
How much commerce was done on SR? It was a lot. IIRC Ross was guaranteeing the fiat value of bitcoin transactions held in escrow. So if the seller was willing to give a refund then the refund would be given in terms of dollars instead of bitcoin. This likely not only got more people to buy on SR but also got people into bitcoin.

The Silk Road issue made a great publicity, bitcoin became more popular and widely acceptable around the world. Any kind of exposure is good for bitcoin.
I don't think any publicity is necessarily good for bitcoin. I think that all the illegal uses of bitcoin have somewhat given it a bad name (although I also think this is slowly going away). I would argue that the illegal uses of bitcoin in it's very early days is what got it off of it's feed and allowed it to grow

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September 15, 2014, 05:52:57 AM
 #135

I think govts have laid off pushing the media stuff about illicit goods and BTC, and have focused on the money laundering angle. I think they think it suits them better for the larger scale.
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September 15, 2014, 06:05:33 AM
 #136

Has the use of Bitcoin for illegal things such as purchasing drugs, weapons, fraudulent documents and laundering money effected its value?


since 2012 yes
since 2013 yes
since 2014 hell yes

with silk road and easy way to transfer money of course the price increased with higher usage

and then oooohhh shit

silk road gets busted and mtgox crumbles down goes the price. The main goods and services used for bitcoin disappears

this is me speculating above

but wait 2014 and more and more businesses start using bitcoin now over 60000 - look out 2015


just as illegal activities have utilised bitcoin it is now time for the legal options to give it a try, can you imagine the price rise then (maybe speculating)

Just as there is illegal use of bitcoin so is there illegal use of your countries national dollar for drugs, guns and anything else illicit

all types of currency are used for illegal activity



Grin
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September 17, 2014, 11:43:05 AM
 #137

Does the use of dollar affected the value of dollar? NO. More bitcoin to spend, the more it goes popular.
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September 17, 2014, 12:41:08 PM
 #138

Does the use of dollar affected the value of dollar? NO. More bitcoin to spend, the more it goes popular.

You have a point there. I think using bitcoin as a tool for illegal ways will make it more popular.
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September 18, 2014, 07:45:46 AM
 #139

Bitcoin is used as payment for illegal activities, but is dollar. So what then?
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September 18, 2014, 08:36:42 AM
 #140

I really dont know if it affects its value. The only thing that should be done is to capture those who run illegal activities but bitcoin should not be affected by the anything.
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