Re: Early signs of crime with bitcoin.

When the world is gradually accepting bitcoin, the already made bitcoiners are using those little opportunity to commit various crimes with bitcoin.
A Russian was sentenced to French prison for bitcoin laundering.
Source : https://apnews.com/article/cryptocurrency-paris-money-laundering-bitcoin-russia-61b5109e954f494b80d51c452b3b18e2

Well, yesterday there was a thread on this forum saying only 1% of total bitcoin usage is related to illegal activity. It looks like you have found one of these few criminals using bitcoin which belongs to this tiny 1%. If we compare this percentage with the percentage of illegal activity though fiat currency we will conclude bitcoin is much less used in a wrong way than fiat.

Bitcoin illicit transactions are less than 1%

How these numbers to be accurate that 1% of bitcoin usage does involved illegal activity? Im aint saying that this is rampant but im bit sure that it is higher that 1%
but how we do consider the percentage on this one with fiat? Grin

You can check the full report on the link I provided above. It was a study conducted by blockchain analytics firm Chainalysis which resulted on that 1%.

And fiat illegal transactions are between 2%-4%, higher than bitcoin. They probably take the statistics of all fiat transactions during a fixed period of time and calculate from this total amount what percentage match the illegal activities on that same period, so they have an estimation.

Quote from: stomachgrowls on April 15, 2021, 11:41:24 PM

With anonymity and being decentralized then theres no doubt that these are the best recipes on committing illegal things.It isnt intended for such usage but
there are people who would make use this advantage.

After all, it seems bitcoin isn't so anonymous like people imagine.