Bitcoin for black market

[josephrioveros123 698]

I have been trading bitcoin and collecting bitcoin for some couple of months now. And I introduce it to a friend. And rejected it because he says that it is use for black market. Is it true that bitcoin is often use for black markets? Why is it always use in black market. 

[Yanadia 1517]

All things related to money, there are always people who do blackmarket or whatever.  This is not the fault of bitcoin but humanity mistakes.  Bitcoin Objects are not subject

[sdsonjoy50 886]

7 hours ago, josephrioveros123 said:

I have been trading bitcoin and collecting bitcoin for some couple of months now. And I introduce it to a friend. And rejected it because he says that it is use for black market. Is it true that bitcoin is often use for black markets? Why is it always use in black market. 

Yes your friend's statement is true, there are many people who are now putting illegal money in bitcoin, and can keep black money safe, the amount is increasing day by day, many countries are now researching how to suppress it.

[myaccount1 584]

5 hours ago, Yanadia said:

All things related to money, there are always people who do blackmarket or whatever.  This is not the fault of bitcoin but humanity mistakes.  Bitcoin Objects are not subject

Yes of course and this mistake is not in the market of bitcoin its all depend on human that how much he is greedy and selfish.

[doriahailee 643]

Yes it's true but today i think bitcoin that used Black Market (Like SilkRoad) has been reduced compared to previous years Because bitcoin is not entirely privacy so the perpetrators use altcoin which provides better privacy.

[Migo 7946]

Everything now is used in black markets, we shouldn't see bitcoin in that side, everything have positives and negatives, if you are using bitcoin in the right place then this is enough I think 

[fuer44 1083]

yes, that even sounds long enough. I have heard that from 2018 ago. that's what makes the government worry if bitcoin is often used for illegal activities, including this black market.

[Jimmy 437]

It's normal reaction for normal people that hearings bitcoin from negative side, Bitcoin was of course used as payment on some illegal services or item but i think fiat was used for something like that too, You just need to explain the technology that backing up bitcoin and the positive side too.

[CryptoBoy20 170]

Yes bitcoin is always use in black market that's why many countries government doesn't support bitcoin as a legal digital coin. But we shouldn't think using bitcoin like that because we can use our fiat currency also in black market.

[josephrioveros123 698]

12 hours ago, Snail2 said:

That's what govts, banks, the MSM and pro regulation bitcoiners want you to think. As I see in the case of your friend they were successful. BTW if you take a look at the real world and see what currencies are the most used for all sorts of shady or straight illegal business you will find that USD is the number one and EUR is right behind it :). Actually cash is more suitable for illegal stuff than cryptoes as unlike BTC a bunch of notes will not leave any trace of the transaction in a blockchain.

Thank you for your reply. As I read the replies here. many agree that bitcoin is used for black market. But it is just normal it is just like normal currency even normal currency can be use for black market. I think it is on us the people who are using it to decide whether we use it on a bad manner or good. But I like your explanation. I think what you say is somehow true. Because bitcoin is one of the threat for the banks and the governments currency to loss it's value that is why they make bad publicity on bitcoin. Maybe the right word to explain in my friend is what you say. So that I can convince him to also use crypto currency and with that he will be an addition to the users of cryptos and can help to increase the price of the market. That's what  I do to help increase the price of the cryptos in the market help increase the number of users. I how you would do that same.

[DrHaman 375]

Sure that is used regarding African American industry purchase despite the fact that today folks utilize the level of privacy money just like monero a growing number of regarding African American industry tx. This kind of shouldn't quit the good friend coming from making use of bitcoin tho result in BTC's principal goal has been to be able to assist regarding purchases rather than regarding the law items.

[teminalibug 309]

Just now, soupster said:

Yes it isvused for black market transaction although nowadays people use privacy coins like monero more and more for black market txs. This shouldnt stop your friend from using bitcoin tho cause btc main purpose was to serve for transactions and not for illegal things.

I think Bitcoin being used in the dark market is just the side effect, but there is much bigger bright side of Bitcoin.

[CryptoMaxim 3829]

On 07.12.2019 at 05:00, josephrioveros123 said:

I have been trading bitcoin and collecting bitcoin for some couple of months now. And I introduce it to a friend. And rejected it because he says that it is use for black market. Is it true that bitcoin is often use for black markets? Why is it always use in black market. 

Since bitcoin is anonymous it is often used on the black market in illegal transactions. But there is nothing illegal for ordinary users when trading.

[Cgogogo 71]

How can Bitcoin be call black market,the purpose and useful of Bitcoin wasn't for this,ilbitcoin was created for the useful of people,in transaction and marketing

[josephrioveros123 698]

Thank you for replying guys. To sum it up. You all says that bitcoin and alt coins are used in a lot of black market transactions. As it is use as money. But just like any other currency it is just used as payment or medium of trade. Other thing is that all transactions that doesn't pay tax to the government is considered a black market. According to the one I read. Now to sum it up even though we use bitcoin it doesn't mean we are bad people. Bitcoin is used for our transactions the people decide weather to use it in good or bad things. It is just like other currency we use it as a medium of trade. That is what I will say to my friend when we talk again about bitcoin . Thank you guys for replying keep replying and give your thought here. So we can discuss it much more better.

[SaidNurs 46]

On 12/7/2019 at 8:00 AM, josephrioveros123 said:

I have been trading bitcoin and collecting bitcoin for some couple of months now. And I introduce it to a friend. And rejected it because he says that it is use for black market. Is it true that bitcoin is often use for black markets? Why is it always use in black market. 

I don't think that all bitcoin is included in the black market, it might just be irresponsible. Bitcoin is the main coin that is widely recognized today. I am sure it is only the actions of irresponsible people.

[Rosepetals 407]

With Bitcoin there are money involved and everything that involves money can be considered as for bad or good influence to a certain institutions or people.If Bitcoin is used for fraudulent activities it can be considered for blackmarket but let's not forget that even fiat can be used for it.It just depends on how cryptos or Fiats being used with.

[josephrioveros123 698]

23 minutes ago, Josuagram said:

This might be because your friend has no knowledge of Bitcoin or crytocurrency.  Only hear rumors from people who lack knowledge by providing information about one of the negative sides of using bitcoin without providing information about the good side of Bitcoin.

When talking about black market, long before the existence of cryptocurrency black market activity was carried out by trading using fiat.  Indeed, black market activities using crypto are more difficult to detected than using fiat, but with the current policy of several exchange and crypto wallet providers by requiring the use of KYC to be able to conduct Big Withdrawall transactions, this black market activity can be minimized.

I think you are right, But still it can be used. But also the fiat currency can also be used for it. So it doesn't matter if you use crypto or fiat. The thing that matters is how will you use it. I think my friend just misinterpret it. But If he will see that I earn some from bitcoin or doing crypto stuff here at crpto industry maybe he will be persuade to use crypto currency too. I think we can earn here in a good way and don't need to be in the black market to earn good profit from it.

[myaccount1 584]

17 minutes ago, Cryptominer said:

All things related to money, there are always people who do blackmarket or whatever. This is not the fault of bitcoin but humanity mistakes. Bitcoin Objects are not subject.

Yes you are right this is not the fault of bitcoin its the humanity mistake that how and for what purposes they are use their money . 

[bliznec 22267]

The black market exists for money laundering and bitcoin can be of help in this. This especially affects the USDT cryptocurrency and of course Bitcoin.

[febriyana 934]

On 12/7/2019 at 9:00 AM, josephrioveros123 said:

I have been trading bitcoin and collecting bitcoin for some couple of months now. And I introduce it to a friend. And rejected it because he says that it is use for black market. Is it true that bitcoin is often use for black markets? Why is it always use in black market. 

I think that is depend on what side your friend want see. If he want see on the bad side, yes Bitcoin can also used in black market. Black market can't stopped because using deep web. Where the only way to stop it is stopping internet worldwide. Impossible!

Bitcoin is like knife, have good and bad side. Good side you can cut the vegetables but the other side it can used for kill someone. That is up to him what they want see. Don't force him to learn about cryptocurrency. Just give him a result what you get from cryptocurrency, they will think again after that.

[CryptoMax 299]

Yes, bitcoin is very convenient for the black market. But in itself he is not to blame. Much can be used both for good deeds and for bad ones. Someone smears butter with bread with a knife, while someone kills people with it.

[Jimmy 437]

4 hours ago, Lubna said:

Bitcoin was developed for the benefits of common people like us. now we can also earn a huge profit from this technology. but bad guyz always develop some illegal options for every inventions.

That's why we need to change this people view by explain to them how strong this technology, Satoshi making this for giving us better transaction ecosystem and not using something like this, This is our job to expose people like this and make a better cryptocurrency world for all people in the world.

[josephrioveros123 698]

14 hours ago, CryptoMax said:

Yes, bitcoin is very convenient for the black market. But in itself he is not to blame. Much can be used both for good deeds and for bad ones. Someone smears butter with bread with a knife, while someone kills people with it.

I think you are right it is up to people. As a matter of fact there are foundations that accept bitcoins and other currencies for donation. If you want to help you can donate your coins on some foundation. It is not all black market. But the is that bitcoin now don't pay tax to the government. And I think that is the thing why bitcoin having a bad impression to the government. And they are making a bad publicity on bitcoin. And we the bitcoin users must do something about it.

[Benjamin 84]

That is true, some people in black market are using cryptocurrency especially bitcoin because they can transacted anonymously, no one can see your transaction to each other.