Quote from: royalfestus on August 22, 2024, 06:11:14 PM

Quote from: Pandorak on August 22, 2024, 12:14:34 AM

Quote from: royalfestus on August 21, 2024, 11:51:38 PM

[...] But to be honest, is Bitcoin completely free of fraud? We're really just seeing more advocates promoting its positive use

Bitcoin itself is free from any fraud, but there are many bad people out there who make bitcoins as victims to create victims. For people who have sufficient insight, of course bitcoin is not something bad, but for people who don't even understand what bitcoin is & how it works, they will view bitcoin as a scheme the same as Ponzi.

I'm proud of the OP, he remained firm in his stance even though he didn't get support & had to wait 2 years just to invest in bitcoin.

Fraud and money laundering are two distinct yet interconnected financial crimes, and Bitcoin continues to be used for money laundering. However, its use in such activities has decreased significantly in recent months.

https://www.trendmicro.com/en_us/research/24/g/crypto-crime-2024-report-part-ii.html#:~:text=In%202023%2C%20money%20laundering%20in,in%20overall%20crypto%20transaction%20volume.

Bitcoin is used for money laundering but who is using bitcoin for those illegal activities? Criminals, terrorists...human? Before Satoshi created bitcoin, criminals also used fiat money, gold, silver...so who should we blame?

Bitcoin is not a scam in any way as it is just a tool like many others, it is being used by criminals for their illegal purposes. Bitcoin completely free of fraud in any way as it is just a tool like many others, it is used by criminals for illegal purposes just like they use fiat or gold. The fault here lies entirely with the criminals and partly with the government for not being able to find a solution to thoroughly suppress the criminals.

As you said, criminal use of bitcoin has decreased in recent months, which means they are starting to use other methods like fiat, why is no one talking about this?

Is this the fault of fiat, is fiat completely free of fraud?