Quote from: Hammer45head on August 16, 2018, 08:39:46 PM

Quote from: AXELNetwork on August 15, 2018, 09:17:12 PM

Quote from: freebutcaged on August 14, 2018, 07:12:28 PM

This must be said that many illegal jobs which are crimes in most of the world has become easy to do because of Bitcoin, in fact
This is one of the disadvantages of this electronic currency, another disadvantage is the fact that you or anyone else can do
Money laundering without fearing of the law, you can blackmail and no one can follow your transactions back to you.

It's a bit of a misconception that Bitcoin is used for illegal activities. It used to be that way in the early days and on the dark web but things have changed now. You see more money laundering from real estate than you do from Bitcoin.

I happen to agree here. Moreover, Bitcoin, due to its underlying technology, i.e. blockchain, is quite risky for illegal activities since the entire system is a digital ledger, i.e. a registry of all transactions between all parties and the ledger just cannot be changed or deleted, which means every transaction is potentially traceable and you just cannot hide because of it. So, taking into account what I've said, I believe using Bitcoin for illegal activities sounds a little absurd.

I don't think Bitcoin or any other cryptocurrency will be used for illegal purposes, because people who engage in illicit activities are looking for visible markets such as real estate and traditional businesses, damaging the image of cryptocurrency by a few criminals seems unfair to me.

jonasvdv

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