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[castbound castboundoski]

Recently I read on the internet that Bitcoin is the reason for criminality increase.I wonder how that could be possible ? What made bitcoin increase the criminality rate?

 

[spidermix38]

Well,bitcoin is good cos there is no central bank,not like paypal,someone who control all that transaction - you probably heard all of that.But,here is something that happen to my account ,blockchain account.There was not big amount of money,few $$,it was secured,and all that,But,somehow,someone clear all money from that account.When i check,my transactions,it say that i send to someone address all my money.So,basically some hacker hack my pass,with my bitcoin address.That's how secure they are.And,i believe,that it's gonna be much worse since price of bitcoin is rising,The worst thing is that you can't ask for support,refund or similar.Sure,you can try with support,but,your money are gone.So,if you talk about criminal things with bitcoin,this is just a beginning.

 

[overcast]

I can tell you that bitcoin has it;s share of issues.And with if the coins are traded to some unknown number. then surely it'd be harder to find out and trace in private cyptocurrency. I think that's what is goinng to make it harder in near future. But it's surely good ideas to try such currency. the more unregulated. the more it is going to be easier for the people from what i have noticed there as well too.

 

[krious]

Criminality? That's the same situation when money was first established. Goods were difficult to steal back then due to sheer weight and difficulty to conceal, and theft became easier once paper and coin money were made. The problem with Bitcoin isn't the security but rather the careless and gullible users. Also certainly due to its anonymity, hackers and criminals may use it as an alternative for ransom money, but what makes it any different from actual ransom scenarios? The problem is the lack of implementation of security measures for now.

A possible security measure against criminals is 'Address Marking'. Since addresses and transactions are always available in the blockchain, addresses and transaction involved in crime should be reported to a 'Global Entity' and should be marked as "Criminal" therefore any subsequent transaction conducted by that account will be marked for "Questionable Transactions" and could be barred from transacting with online cryptocurrency exchange sites. The 'Global Entity' should be contracted with Bitcoin Exchange Sites to withhold any transactions made with "Criminal addresses", otherwise the exchange site that refuses to do so would be branded as a site that supports criminal activity and could be tried against court. Therefore criminals are forced to contract with other criminals when exchanging bitcoin for money. That's a draft of how I think criminal activity involving Bitcoin can be reduced.

 

[castbound castboundoski]

Cryptocurrency makes it possible for you to buy the currency and avoid any traces of it being used. So that cna be really good way to manage the bitcoin. And this way you can have the anonymity. So considering that part, you can see that in some cases it'd be reasonable to have the bitcoin in your side. You can have it just in case there is economical and financial fall out these days as well. That's something I want to know.

Yeah and because of that anonymity crime rate has increased.People who order crimes they can just pay with bitcoins and they won't be found,easy as that. I now know why big countries like USA and Russia and trying to make cyber units ^^

 

[overcast]

Still the trace is possible with the blockchain address. So that's definitely possibility. You may find that it becomes harder to find out unless the person holds the money or converts into another currency. So that's something that may lead to more crimes. I have seen the security companies asking for the money through the bitcoin. You can see that I am assuming some of the private blockchain options can be risky too. So it depends on how it pans out in the end.

 

[iriswest]

No wonder Bitcoin increase the criminality rate. Mostly scams!
Bitcoin is the mode of payment in the deep web and is increasing its value every now and then.

 

[castbound castboundoski]

You buy it to some wallet with address, every next transaction have address, if you know address you can track information. Yeah i agree it's hard to get instantly something, but all transactions is saved and you just need to find right one.

And to get someones criminal address you try to buy from him drugs and later scan his transaction history and try find other side people real identity

The thing is that people who do crime may use different identities and many fake addresses to hide themselves. They are not stupid, the same way as people do with real money. They send others to do the job for them.

 

[Beringianus]

The thing is that people who do crime may use different identities and many fake addresses to hide themselves. They are not stupid, the same way as people do with real money. They send others to do the job for them.

Yeah i wrote before, that it's hardening to find them, but every great plan have many holes in them and every extra human chain in your loop will be possible weak spot / extra fees / extra questions ( like, why you don't do it yourself :) )

 

[Diamante]

Bitcoin is not evil.The people who use it for shady purposes are evil.If someone uses dollars to pay a hit man do you blame the money?The media is on a rampage to damage btc's reputation because its a rival to its own currency.And a majority of people fall for it.They could just legalize it and track it but they don't.Have you wondered why?They like to blame it for all the things that have no connection to btc and theyr own incompetence in catching criminals.Plus,if someone wants to do a shady transaction type deal,we have many other coins that you can not track,ever ,like Dashcoin,etc.Why would people use BTc?this is just propaganda by the media.

 

[castbound castboundoski]

Well,bitcoin is good cos there is no central bank,not like paypal,someone who control all that transaction - you probably heard all of that.But,here is something that happen to my account ,blockchain account.There was not big amount of money,few $$,it was secured,and all that,But,somehow,someone clear all money from that account.When i check,my transactions,it say that i send to someone address all my money.So,basically some hacker hack my pass,with my bitcoin address.That's how secure they are.And,i believe,that it's gonna be much worse since price of bitcoin is rising,The worst thing is that you can't ask for support,refund or similar.Sure,you can try with support,but,your money are gone.So,if you talk about criminal things with bitcoin,this is just a beginning.

Thats quite unfortunate. Are you sure you had a good password? You did not expose it anywhere? Maybe there was a keylogger in your computer... somehow someone put it inside your computer and stole your password that way. I think wallets offer double protection nowadays or so called 2 Factor. Its really hard to break into wallets. I don't know how that happened to you tbh.

I can tell you that bitcoin has it;s share of issues.And with if the coins are traded to some unknown number. then surely it'd be harder to find out and trace in private cyptocurrency. I think that's what is goinng to make it harder in near future. But it's surely good ideas to try such currency. the more unregulated. the more it is going to be easier for the people from what i have noticed there as well too.

So you are saying that there are going to be private cryptocurrencies in the future which are going to be extremely hard to track ? I wonder if there are some of those right now.Maybe there is going to be some kind of a black market who is gonna do all the exchanges and stuff.

Criminality? That's the same situation when money was first established. Goods were difficult to steal back then due to sheer weight and difficulty to conceal, and theft became easier once paper and coin money were made. The problem with Bitcoin isn't the security but rather the careless and gullible users. Also certainly due to its anonymity, hackers and criminals may use it as an alternative for ransom money, but what makes it any different from actual ransom scenarios? The problem is the lack of implementation of security measures for now.

A possible security measure against criminals is 'Address Marking'. Since addresses and transactions are always available in the blockchain, addresses and transaction involved in crime should be reported to a 'Global Entity' and should be marked as "Criminal" therefore any subsequent transaction conducted by that account will be marked for "Questionable Transactions" and could be barred from transacting with online cryptocurrency exchange sites. The 'Global Entity' should be contracted with Bitcoin Exchange Sites to withhold any transactions made with "Criminal addresses", otherwise the exchange site that refuses to do so would be branded as a site that supports criminal activity and could be tried against court. Therefore criminals are forced to contract with other criminals when exchanging bitcoin for money. That's a draft of how I think criminal activity involving Bitcoin can be reduced.

Thats actually a fantastic idea. You should submit it somewhere appropriate . I do think that criminality won't be completely stopped on that way because you know there are thousands of wallets and thousands of addresses can be made so its really easy to hide your identity.It sounds simple but it takes really good organization so it can be executed well.

 

[overcast]

So you are saying that there are going to be private cryptocurrencies in the future which are going to be extremely hard to track ? I wonder if there are some of those right now.Maybe there is going to be some kind of a black market who is gonna do all the exchanges and stuff.

Yes yet to see the private crypto to turn into better secure wallet. You remember the wannacry ransomware? that was made by some hackers. and they wanted payment in bitcoin. which they traded to the private address on some private cryptocurrency. and that is how they have managed to increase the crime around. so it seems like there are some of the people who may get into all of this all because of bitcoin.

 

[castbound castboundoski]

Still the trace is possible with the blockchain address. So that's definitely possibility. You may find that it becomes harder to find out unless the person holds the money or converts into another currency. So that's something that may lead to more crimes. I have seen the security companies asking for the money through the bitcoin. You can see that I am assuming some of the private blockchain options can be risky too. So it depends on how it pans out in the end.

Yeah but you know one person can create many addresses and identities on the internet so that can be avoided. People are not stupid and we all know it . On top of that its not just one wallet that you can use... there are many and I think there are ways to hide your identity.

 

[skygod]

That's just complete bs so as to have ready a scare tactic to justify government regulation for cryptocurrency. Blaming criminality on a currency, let alone a new form of currency is a huuuge stretch.

 

[castbound castboundoski]

No wonder Bitcoin increase the criminality rate. Mostly scams!
Bitcoin is the mode of payment in the deep web and is increasing its value every now and then.

I didn't know that people in the deep web tend to use BTC as a payment system. Thats even more concerning.Who knows what kind of crime deals are surrounding the deep web..Makes them more annonymous than ever.

 

[iriswest]

Yes, Bitcoins is the payment method in the Deep web because it is so secure, it provides anonymity in both parties.

 

[komrad]

Recently I read on the internet that Bitcoin is the reason for criminality increase.I wonder how that could be possible ? What made bitcoin increase the criminality rate?

are you sure? are you comparing it to regular money?

 

[Abdul hanan]

Recently I read on the internet that Bitcoin is the reason for criminality increase.I wonder how that could be possible ? What made bitcoin increase the criminality rate?

It is digital currency and untraceable if our account gets hacked and all our bitcoins are transferred we cannot track them. SO Hackers attack bitcoin users and steal away their money so more and more are people getting interested in hacking bitcoin wallets.

 

[iriswest]

Yes, but Bitcoins have also increased their security features as well. They have this 2 point aauthentication system which increases the security of an account. You should however be careful in choosing your own password. You should try character, special number and capital letter to increase the chance of protection.

 

[castbound castboundoski]

Yeah i wrote before, that it's hardening to find them, but every great plan have many holes in them and every extra human chain in your loop will be possible weak spot / extra fees / extra questions ( like, why you don't do it yourself :) )

True that.There must be a weak spot in every plan and its all about in finding it. How long will it take? No one knows but its still a weak spot.Im sure something will be figured out anyway.

 

[Medowriter]

Cryptocurrency makes it possible for you to buy the currency and avoid any traces of it being used. So that cna be really good way to manage the bitcoin. And this way you can have the anonymity. So considering that part, you can see that in some cases it'd be reasonable to have the bitcoin in your side. You can have it just in case there is economical and financial fall out these days as well. That's something I want to know.

you have a point.