Bitcoin for black market

[Mir Hamza 2888]

Bitcoin is used for both good and bad. It depends on us whether we use bitcoin for good or we use it for bad purposes. There is no bitcoin fault in it, there are useless people who misuse bitcoins. That is why we should not hold bitcoin responsible for this. 

[abdullah553 1981]

On 12/7/2019 at 3:00 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. 

Perhaps when Bitcoin was invented, smugglers and human traffickers used bitcoins instead of fiat currencies in the black markets.

[abd1992 960]

On 12/7/2019 at 3:00 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 believe that when Bitcoin was issued, due to the safety and lack of discovery who is trading, it was used illegally in the black markets

[m7md 0]

The advantages enjoyed by Bitcoin and other cryptocurrencies, such as decentralization and anonymity, allow it to be easily used for illegal purposes due to the inability to monitor or control it by anyone. 

[abohasnn9 2401]

My friend, the bad side of Bitcoin is that it is used to launder money and on the black market for local currencies, and also Bitcoin is used to buy from the dark internet so that no one knows who the sender is and who the future is to buy things like weapons and also buy and sell drugs, etc. Thank you

[Baba g Sialkot 527]

Yes, Of course many people are using Bitcoin and some other cryptocurrencies as cash for buying illegal things in Black market, But we can't blame Bitcoin for this illegal activity because Bitcoin is the most trusted cryptocurrency and is very useful for all over the world.

[Syriana 350]

Economic conditions have made the money market several things, including dealing in the black market, and many people deal in the black market because of the high prices and to gain more profit, and this weakens the strength of the country's economy, so we must always take into account these matters.

[Msh9 84]

Yes, in the beginning, Bitcoins were illegal. And it was not allowed to work so it was facing a lot of problems, but now all countries of the world are working with it and within the black market.

[guatazoo 7150]

I think when KYC will be full applied to the crypto world, there is where bitcoin will not be using for the black market because all bitcoin transactions will be known who made them. 

[selfmade 7]

2 hours ago, guatazoo said:

I think when KYC will be full applied to the crypto world, there is where bitcoin will not be using for the black market because all bitcoin transactions will be known who made them. 

Thing is you can put KYC on exchanges and wallets now the bitcoin itself, so there would be black market wallets created which would never be touched by KYC.

[Abideen 659]

On 12/7/2019 at 2:00 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. 

Well, although I'm still a newbie, because I don't know that bitcoins is use for black market. But even if it's true that it use as black market, it's secured and realible for us, so I don't think there is a problem about that. Have a nice day.

[Mamba79 682]

This black market thing happens with all types of currency, not only with bitcoin, the point with bitcoin is that its transactions are anonymous which makes it more difficult to know if someone is incurring in an illegal exchange 

[pax166 0]

Good day mate. Cryptocurrency is one of the easiest ways to carry out transactions in the black market . Some of the features of cryptocurrency that makes it a good choice for illegal transactions include;

 

- Decentrality: Cryptocurrency is not centralised to a particular region and hence it is not controlled by the government.

 

-Anonimity: Cryptocurrency transactions are carried out anonimously and hence yhe identity of an individual is not revealed.

 

- Traceability:  It is difficult to trace transactions in cryptocurrency and hence difficult to trace those involved.

 

This are some o the reasons qhy criminals prefer to use cryptocurrency in the dark web/black market for illegal transactions

[Wanderdark 2178]

Of course there might be some cryptocurrencies used in some shady dealings. Especially the ones offering the privacy like Monero, Zcash, DASH etc. 

 

However, the US Dollars are the most used currency for these shady dealings in the world, much more than cryptocurrencies. 

 

So I think the notion of cryptocurrencies used in shady dealings is just fake news spread by the governments and financial actors to keep the new investors away from the industry. Otherwise their monopoly in world's financial system would eventually collapse.

[Atifa3456 257]

On 12/7/2019 at 7:00 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. 

You have to remember that any currency whether cryptocurrency or flat currency,they are,were,have been and will be using in black market.Criminals love it more because these have their main value hidden.From some stolen credit card,they use those credit cards to buy bitcoin and with bitcoin they buy illegal drugsAlso they go for many transaction for illegal crimes and their payments using bitcoin.But flat currencies are also used there.So for this reason you should not stop making money with bitcoin.

[joemcgwa 3227]

On 1/6/2021 at 9:02 PM, guatazoo said:

I think when KYC will be full applied to the crypto world, there is where bitcoin will not be using for the black market because all bitcoin transactions will be known who made them. 

There have many seriously laws in this world but people still breaking those laws, so thats bitcoin will be using in the black market as always being used.

[lilisbet18 231]

This economy lends itself to the black market because they are simply decentralized currencies and nobody has how to see them and this can be lent for these things, but nevertheless it is something that if we see the negative it will always be so but if we see the positive we will have many more earnings and benefits.
 

[Dang3r 103]

All cryptocurrencies can be used to a greater or lesser extent within the market, the problem is that Bitcoin, being the base currency of the crypto market, is used more frequently despite the fact that there are already methods to track transactions made with BTC, of Likewise, this prejudice exists exclusively because the tabloid media do not want cryptocurrencies.

[Sarfraz008 557]

Yes bitcoin is constantly use in black market this is why many countries authorities doesn't guide bitcoin as a criminal digital coin. But we shouldn't assume using bitcoin like that because we will use our fiat foreign money also in black marketplace.

[Alaina850 182]

What is black market? I have no idea about it.  This topic is for everyone to highlight. But I do not know anything about it. I want to know, how is it used? And so that I can know and learn about it in detail.  I don't know that.

[betania1 283]

Unfortunately this really happens, it is a point against cryptocurrencies because they are decentralized, many people misuse it and this brings a little mistrust of some people who believe that cryptocurrencies should not be legal and this is a reason, but You still have to understand that cryptocurrencies offer many more possibilities than fiat money for better things.

[guatazoo 7150]

On 1/12/2021 at 9:43 AM, joemcgwa said:

There have many seriously laws in this world but people still breaking those laws, so thats bitcoin will be using in the black market as always being used.

But even if people will still be using bitcoin in the black market illegal that's means those people will be eligible to be catch once the KYC will be full applied. 

[Ahmdoof 59]

Anything that is not subject to government authority is on the black market. Bitcoin is not guilty of being that way. It is a two-sided currency that can be used for good or for evil. I expect that this is the black market interpretation of Bitcoin.

[Quickbee 26]

The financial market all over the world is used by black marketers. Similarly is the case of crypto market. But this is not the fault of the financial market or the Crypto market.

[Roarnoman12 621]

The use of bitcoin depends on the users. Every person use it according to his own choice. Now if people are using it in black market, it is the not the fault of bitcoin my dear.