Kakashi2020 Posted May 29, 2018 Share Posted May 29, 2018 Years ago I read an article that Bitcoin was made by Organized crime factions to facilitate illegal transactions untraceable to government agencies, hence its called in the past as the "Currency of Crime." Does that mean that with its appreciation and increasing user base that it can now be used for Money Laundering activities? 1 Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/ Share on other sites More sharing options...
Steve5 Posted May 30, 2018 Share Posted May 30, 2018 I think so. It wouldn't be far-fetched to think that way. It's currently used for paying illegal activities. I've heard that it's prevalent in the deep web. So much is going on outside our normal world. Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-872 Share on other sites More sharing options...
Henrywrites Posted May 30, 2018 Share Posted May 30, 2018 I don't really see the coming of Bitcoin as a way to facilitate illegal crimes and the reason is simply because as we can see, it is always not easy for us to be in that situation where we have our Bitcoin transaction channels shown to the people. There is even a plan now where we get to see everything that happens with Bitcoin. So, it is never a way to push for any illegal activity. Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-875 Share on other sites More sharing options...
Henrywrites Posted May 30, 2018 Share Posted May 30, 2018 29 minutes ago, Steve5 said: I think so. It wouldn't be far-fetched to think that way. It's currently used for paying illegal activities. I've heard that it's prevalent in the deep web. So much is going on outside our normal world. That is it prevalent in the deep web does not mean that it helps to facilitates crime as long as I am concerned. Take a look at it in the way where you get to realize that your friend has got so much worth in Bitcoin, do you think he will feel safe anymore? The answer is no and it is for that reason that we have Bitcoin being done without the knowledge of others. Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-876 Share on other sites More sharing options...
Steve5 Posted May 31, 2018 Share Posted May 31, 2018 I see what you mean. Though, I feel like bitcoin has been used for illegal transactions long before it became famous. It might not be the only kind of currency used for that. People have a way of finding means to support their illegal activities. Such is the way of the world. Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-935 Share on other sites More sharing options...
focusedwriter10 Posted November 4, 2018 Share Posted November 4, 2018 On 5/31/2018 at 1:12 PM, Steve5 said: I see what you mean. Though, I feel like bitcoin has been used for illegal transactions long before it became famous. It might not be the only kind of currency used for that. People have a way of finding means to support their illegal activities. Such is the way of the world. I agree. The answer can only be given the developers of Bitcoin. But, illegal activities are funded through various means. Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-2374 Share on other sites More sharing options...
Steve5 Posted November 4, 2018 Share Posted November 4, 2018 8 hours ago, focusedwriter10 said: I agree. The answer can only be given the developers of Bitcoin. But, illegal activities are funded through various means. I've heard rumors about it being used in the dark net. Cryptocurrency is very secure for such shady negotiations. I'm sure lots of money transfers are unique when it comes to dangerous individuals. You can watch discussion videos on Youtube. 😄 Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-2388 Share on other sites More sharing options...
focusedwriter10 Posted November 5, 2018 Share Posted November 5, 2018 21 hours ago, Steve5 said: I've heard rumors about it being used in the dark net. Cryptocurrency is very secure for such shady negotiations. I'm sure lots of money transfers are unique when it comes to dangerous individuals. You can watch discussion videos on Youtube. 😄 Do you mind sharing the link? I would like to watch the video. Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-2474 Share on other sites More sharing options...
Steve5 Posted November 6, 2018 Share Posted November 6, 2018 4 hours ago, focusedwriter10 said: Do you mind sharing the link? I would like to watch the video. Thanks for your interest. However, I cannot remember the exact video I watched. It was a few months ago. But I can share the link of something similar that discusses bitcoin's use in the dark web. Bitcoin Dark Web 😃 Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-2481 Share on other sites More sharing options...
cks003 Posted November 6, 2018 Share Posted November 6, 2018 Bitcoin is not created to facilitate illegal transaction but it was created as a by product of blockchain technology. The coin is simply an entry of a ledger as in book keeping. In 2008 the inventor Satoshi Nakamoto had said the creation of the currency is a by product and the main purpose is not the coin but the revolutionary and innovation of the blockchain technology that can change the way we record and do business. Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-2505 Share on other sites More sharing options...
focusedwriter10 Posted November 6, 2018 Share Posted November 6, 2018 20 hours ago, Steve5 said: Thanks for your interest. However, I cannot remember the exact video I watched. It was a few months ago. But I can share the link of something similar that discusses bitcoin's use in the dark web. Bitcoin Dark Web 😃 Thanks for this. I have bookmarked the linked. I will definitely come back and give you the feedback. Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-2528 Share on other sites More sharing options...
Kakashi2020 Posted November 7, 2018 Author Share Posted November 7, 2018 On 5/30/2018 at 5:52 PM, Henrywrites said: That is it prevalent in the deep web does not mean that it helps to facilitates crime as long as I am concerned. Take a look at it in the way where you get to realize that your friend has got so much worth in Bitcoin, do you think he will feel safe anymore? The answer is no and it is for that reason that we have Bitcoin being done without the knowledge of others. It goes two ways just like everything else. It could be used for anything bad or good. It's just like any other tool. We hear or read things which can't be substantiated, it's unverified and unverifiable news. Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-2540 Share on other sites More sharing options...
Steve5 Posted November 7, 2018 Share Posted November 7, 2018 7 hours ago, focusedwriter10 said: Thanks for this. I have bookmarked the linked. I will definitely come back and give you the feedback. You're welcome. I hope you're not disappointed. It's actually a widely accepted theory. But there are still skeptics regarding its involvement in the dark web. It's up to us on whether we believe it or not. I just feel like it's the perfect currency for a place that's rooted in shady businesses. 😃 Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-2544 Share on other sites More sharing options...
janie1984 Posted November 28, 2018 Share Posted November 28, 2018 On 11/7/2018 at 11:15 AM, Steve5 said: You're welcome. I hope you're not disappointed. It's actually a widely accepted theory. But there are still skeptics regarding its involvement in the dark web. It's up to us on whether we believe it or not. I just feel like it's the perfect currency for a place that's rooted in shady businesses. 😃 I agree, bitcoin could easily be used for drug cartels, human trafficking, and other illegal activities because it gives organizations a way to avoid being detected by the government and limits the government's ability to track money. Often times, it's the bank accounts and money trail that helps law enforcement catch criminals but if that doesn't exist within the government's realm of control, it's hard to catch people breaking the law. 1 Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-2818 Share on other sites More sharing options...
Steve5 Posted November 29, 2018 Share Posted November 29, 2018 20 hours ago, janie1984 said: I agree, bitcoin could easily be used for drug cartels, human trafficking, and other illegal activities because it gives organizations a way to avoid being detected by the government and limits the government's ability to track money. Often times, it's the bank accounts and money trail that helps law enforcement catch criminals but if that doesn't exist within the government's realm of control, it's hard to catch people breaking the law. I'm glad you're also open to seeing it that way. It is perfect for the dark web when you put it like that. The government is very strict on security and controlling how people handle their transactions. So to have a currency that goes beyond their reach is very unsettling for them. 😂 Quote Link to comment https://slingbank.com/forums/topic/526-was-bitcoin-made-to-facilitate-underground-illegal-transactions/#findComment-2856 Share on other sites More sharing options...
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