Ninjastic
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Board Bitcoin Discussion
Re: Crime funded by bitcoin
by
Omega Weapon
on 26/06/2017, 01:17:29 UTC
Quote from: mrcash02 on June 21, 2017, 02:37:47 AM
Quote from: Omega Weapon on June 21, 2017, 02:31:54 AM
Quote from: FasTroy on June 16, 2017, 03:11:00 PM
Quote from: ChrisPop on June 13, 2017, 02:32:26 PM
Crime can be funded with anything: from cash,gold,silver to bitcoin. So all these methods can be hardly traced,not only bitcoin. I don't see any major reason why bitcoin price would decrease if it is used in crimes. Most surely us dollars are used in crimes daily and the price doesn't fall right?  Roll Eyes
You are right, There is no sense when we said that bitcoin price would decrease because if it is used in crimes. Because peoples can use dollars or any real or digital currency for this things.
Maybe bitcoin is most used for crimes, because it's more secure and anonymous. It used in darknet too. So killers would sure want to use it than other any currencies.
It is very difficult to know the amount of money some criminals move in bitcoin, but I suppose that back in the day when bitcoin was just starting the percentage of most of the trading taking place  was mostly illegal transactions but as bitcoin has become known for more people then the percentage of these transactions has diminished because there is more people doing legal trades in bitcoin.     

I think legal trades don't decrease the amount of illegal trades. Surely the number of legal trades increased a lot, but illegal trades increased as well. Bitcoin has the price it has today not only by the good people, but because the dark market over it too, we need to be aware about it.

Bitcoin is used by the good and by the evil like fiat and like any other tradeable item. We just need to make sure we are using it for the good, otherwise there could be problems with authorities in real life.
The proportion is what changes, if on total there are 10 trades and all of them are illegal then 100% of all the trades are illegal but if there are 100 trades and the number of illegal trades is 10 then even if the number of illegal trades has remained the same now only 10% of the trades are illegal, as you see, the more people use bitcoin the lesser the percentage of the total transactions that are illegal.