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Is Bitcoin useful for illegal activities?

How To Earn Bitcoins Fast Forums Bitcoin Bitcoin Discussion Is Bitcoin useful for illegal activities?

This topic contains 1 reply, has 2 voices, and was last updated by  camentos 2 years, 8 months ago.

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  • August 27, 2015 at 3:50 am #6069

    Bitcoin is money, and money has always been used both for legal and illegal purposes. Bitcoins are completely impossible to counterfeit. Users are in full control of their payments. Bitcoin allows money to be secured against theft and loss using very strong and useful mechanisms such as backups, encryption, and multiple signatures. Some concerns have been raised that Bitcoin could be more attractive to criminals because it can be used to make private and irreversible payments. How can we feel secure about this concern? Bitcoin is not likely to prevent criminal investigations from being conducted. The internet is a good example of fraudulent activity.

    October 26, 2016 at 11:01 pm #7230

    I think cryptocurrency is much more traceable in comparison to physical currency and therefore not too easy to be used for illegal activities.

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