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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?

 

[castbound castboundoski]

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.

Agreed. Currency isn't the problem.. Its people in general who don't know how to behave.The currency is created for good things so we need to use it only for good things . People tend to destroy things we create for our own good.

 

[glenreviews]

Well, since Bitcoin is mostly use in the TOR world if you know what I mean. That's why it's base a lot more of because of criminality but right now. People are more on the side of catching up and earning from the BTC bonanza right now. Since BTC is increasing hella fast right now. Almost at 10k$.

 

[xXInfectedXx]

Yes, because of how anonymous it is. Ransomware is a great example of this, and the latest example is NotPetya and one other that I'm sure we all aware of is WannaCry. It asks the user to send X amount to X address.

 

[Yugocean]

Many hackers are using it's decentralised way to take over them and misuse their value. It is becoming important to control this, Indian government is also taking action to regularise it.

 

[tusziget]

I think every exchange site should take some serious measure,how to prevent hackers getting different cryptocurrencies from them.It happened already so many times on different exchange sites,that other exchange sites should have learnt from it and protect their site with high security system.

 

[phanuruch]

Bi

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?

Bitcoin has nothing to do with criminality just like the dollar, popularly used around the world has nothing to do with criminality. Would you criminalize the USD because some pirates have asked for ransom in USD? Bitcoin is just a currency and is open to abuse, just like any other currency.

 

[mcjerry]

That is true. Bitcoin has increased the criminal acts.
Bitcoin been annoymous. It has invite criminals expecially frudstars.
They do there scam and ask there victim money, payment made through bitcoin so that they won't be tracked. So bitcoin increases crime rate

 

[overcast]

I remember to get one spam message where one guy was revealing some random text as my password. And his email said that he had my personal images and he may reveal it to my friends and so. And in return i am supposed to give out bitcoins on specific address. and then he will stop harassing me. I find such actions of criminals really funny.

 

[overcast]

South american nations and African nations are getting into crypto. And the money is being moved. So the criminal aspects are increased. And it is going to be pretty risky in future if it is legalized. You may see that criminals are only going to damage the world economy due to that. I think it's hard to control that in near future from what I have seen so far.

 

[overcast]

I think it's hard to find out intention behind the transaction. We never know for what reason the trasnaction was made. There is no such option to gaguge from the blockchain. And the thing is that criminal often make use of the crypto and they try to hide the transactions and with many coins that is possible.

 

[matt9005]

Bitcoin is not as anonymous as you think. Transactions and wallet balances are public and that can be even more concerning than using a bank. That's because anyone can find out the amount of funds that you own, and your transaction records. There have been instances where the cops managed to bust cryptocurrency related crimes on the deep web (Silk Road). If I were a cybercriminal, I would prefer to use Monero instead of Bitcoin. It's a coin which specialises on privacy where blockchain explorers can't do much.

 

[Josemendez]

It quiet disheartening that people will always misuse things that was meant to be of help to them. Bit coin should have been very good if people will only ceased to be greedy and avoid scam.

 

[magicpotato]

Bitcoin is not as anonymous as you think. Transactions and wallet balances are public and that can be even more concerning than using a bank. That's because anyone can find out the amount of funds that you own, and your transaction records. There have been instances where the cops managed to bust cryptocurrency related crimes on the deep web (Silk Road). If I were a cybercriminal, I would prefer to use Monero instead of Bitcoin. It's a coin which specialises on privacy where blockchain explorers can't do much.

I don't know a lot about Monero but it seems logical that people can link transactions to real identities. However, there're ways to use BTC anonymously if you really want to.

• Creating a new address for each transaction using HD wallet software.
• Merging multiple transactions into one by using mixers.

 

[dbrobles]

Although it is a very different form of currency, Bitcoin transactions are, if need be, as traceable as a standard banking transaction. The impression that there is a criminal aspect to Bitcoin is a false one and it's well-known now that dark web lurkers are actively avoiding Bitcoin for that very reason they prefer easier to hide private cryptocurrencies if they are going to make use of them at all.

 

[magicpotato]

Bitcoin transactions are, if need be, as traceable as a standard banking transaction.

Well, even though it's possible to see all transactions it doesn't mean you can figure out the who's the owner of each and every address.

The impression that there is a criminal aspect to Bitcoin is a false one and it's well-known now that dark web lurkers are actively avoiding Bitcoin for that very reason they prefer easier to hide private cryptocurrencies if they are going to make use of them at all.

Do you have any proof of that?

Sure, like matt9005 said there're cryptocurrencies that are more anonymous than Bitcoin, but I still think Bitcoin is the cryptocurrency that is being used by the most "criminals".

 

[whitedragon]

Crypto is only a tool. Don't need to blame it

 

[happietappy]

Well i don't think this statement is true, will love if this could be judged from this perspective.
Were crime not committed prior to the invention of Bitcoin?
Did the creation of Bitcoin introduce a new form of crime?

As you can see, Bitcoin itself didn't create a new form crime instead it made it easier for criminal to move funds thereby increasing rate of their activity. This is just the price you creating something decentralized and censorship free, some people are bound to abuse it. Also it is important to note that Bitcoin itself isn't anonymous and all transactions easily be traced meaning with the right technology and regulations this criminals can easily be tracked.

 

[shunvlair]

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 increase fraud, because of people who are not really familiar with crypto currency, one instance of it is the different kind of schemes,, because people want easy money many schemes attracts investor with big ROI while people keep scammed and invest on those kind of scheme

 

[karthik999]

yes i do agree with the fact that bitcoin has increased criminality , especially in social medias like facebook . Many people fake themselves that they are earn 1 bitcoin everyday without sending money to anyone , haha its so funny , and they even post that "I will donate 0.1 btc to first 100 people" and people just go on commenting their bitcoin address and never get anything. There are some more fake bitcoin managers who claim to double your bitcoin after 24 hours through trading , once i was scammed by them like this , they ask for miner fees and never return our investment . There are some more fake people who build a website to generate certain big amount of bitcoin (0.1, 0.2,1, 2.5) and once the miner process is over they ask for miner fees of 0.001 btc , just to scam people. These are some of the ways that people are trying to scam through bitcoin which has indeed increased the criminality .

 

[cryptohub123]

Bitcoin has increased the number of scammers who design their own website that claims to be mining bitcoin or trading , or doubling bitcoin , and this way they are scamming innocent people who come into their trap .So no one should believe these "Too good to be true" things .