Cryptocurrency and illegal drugs market: Will Bitcoin take ...

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Countries are pushing towards going cashless, that means every street drug dealer will end up using bitcoin. Illegal drug market is valued at $360 billion. Bitcoin's market cap would need to double to handle this.

Think about it, digital dollar is coming, other countries are pushing to get rid of cash too. Some of it is to push to get tax money, other reason is to push negative interest rates, among other reasons. There way more black market transactions that just drugs, but drugs alone is valued at $360 billlion. Bitcoin would need to double to handle that. Meaning price will go up at minimum +100%

I know this isn't the best reason for bitcoin to go up, but the underlying economics of it still hold true.
submitted by dancingbearstonks to Bitcoin [link] [comments]

CGPGrey (an author of educational YouTube videos) writes about On Bitcoin, Illegal Drugs & First Impressions

CGPGrey (an author of educational YouTube videos) writes about On Bitcoin, Illegal Drugs & First Impressions submitted by jansn128 to planbshow [link] [comments]

Do hacks, scams, drug dealings, and other illegal activies create a subsection of dirty coins that will never make it back to bitcoin exchanges and thus will never influence the price of bitcoin once removed from the clean bitcoin pool?

In stocks, there are restricted shares and free trading shares. Exactly how it sounds restricted shares can not be sold. My question is once a bitcoin becomes used for criminal activity does the bitcoin become similar to restricted share and removed from the free trading basket?

Example John buys $100 of bitcoin from a exchange and send them to drug dealer. The drug dealer cashes them out via non-exchange method such as cash by mail or cash in person. These cash transaction would not effect the price on the exchange and would likely be bought by someone who values privacy. In this example $100 of free trading bitcoin would become restricted coins...... Or do somehow these coins eventually make their way back to the trading exchanges?

tl;dr once bitcoins enter the black market economy they are removed from the free trading float and become restricted, right? bullish
submitted by dancingbearstonks to Bitcoin [link] [comments]

Sex, drugs, and bitcoin: How much illegal activity is financed through cryptocurrencies

Through their in-depth study about cryptocurrencies in general, and bitcoin in particular, Sean Foley, Jonathan R. Karlsen and Tālis J. Putninš dive into the vast world of digital currencies thanks to an innovative methodology designed to more effectively monitor them. The study seeks to better understand the role of illicit trade in bitcoin’s skyrocketing value.
Here are some of the key takeaways:
  1. The anonymity offered by cryptocurrencies has greatly contributed to the boom in online and cross-border commerce of illegal goods particularly via the darknet.
  2. It is estimated the 98% of darknet transactions are carried out in bitcoins.
  3. Bitcoins, unlike other cryptos such as Monero, are not fully anonymous as they are described to be. Indeed, thanks to the public nature of the bitcoin blockchain and the fact that each individual “user” is linked to an alpha-numeric address, there are methods to study user behavior and link it to illegal activities.
  4. 25% percent of users and 44% of transactions are associated with illegal activity in the bitcoin blockchain. It is estimated that 24 million bitcoin market participants use the cryptocurrency for illegal activities. “These users annually conduct around 26 million transactions, with a value of around $72 billion, and collectively hold around $8 billion worth of bitcoin”(p.2).
  5. Bitcoin’s market value is mostly linked to its large core of illegality putting a big question mark on the ethics of investing in it or any other anonymous cryptocurrency.
The authors still believe that blockchain technology has the potential to boost a number of industries thanks to the system’s transparency and capacity to track every transaction forever, but the negative publicity that it has attracted because of cryptocurrency hacks, scams and raids has made regulators uneasy with the technology. Indeed, none of the cryptocurrencies currently in use – volumes today exceed $50 billion dollars exchanged – are regulated causing a growing number of governments to react and start exploring the implementation of regulatory measures or the development of regulated national e-currencies.
submitted by ami_nil1987 to DigitalCryptoWorld [link] [comments]

2 Persons Charged For Illegal Drug Sale Transacted In Bitcoin

2 Persons Charged For Illegal Drug Sale Transacted In Bitcoin submitted by cryptolobe to cryptolobe [link] [comments]

Donald J. Trump:"I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity...."

Donald J. Trump: submitted by Egon_1 to btc [link] [comments]

Donald J. Trump is a moron:"I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity...."

Donald J. Trump is a moron: submitted by Anen-o-me to GoldandBlack [link] [comments]

02-23 02:04 - '#EVOLUTION OF BITCOIN: / #2009: BITCOIN CREATED / #2010: ZERO MAINSTREAM ADOPTION / #2011: ZERO MAINSTREAM ADOPTION, 100% CP ADOPTION, 100% ILLEGAL DRUGS ADOPTION / #2012: ZERO MAINSTREAM ADOPTION / #2013: ZERO MAINSTREA...' by /u/ItsNever2Lateee removed from /r/Bitcoin within 3-13min

'''

EVOLUTION OF BITCOIN:

2009: BITCOIN CREATED

2010: ZERO MAINSTREAM ADOPTION

2011: ZERO MAINSTREAM ADOPTION, 100% CP ADOPTION, 100% ILLEGAL DRUGS ADOPTION

2012: ZERO MAINSTREAM ADOPTION

2013: ZERO MAINSTREAM ADOPTION

2014: ZERO MAINSTREAM ADOPTION

2015: ZERO MAINSTREAM ADOPTION

2016: ZERO MAINSTREAM ADOPTION

2017: ZERO MAINSTREAM ADOPTION, 100% RANSOMWARE ADOPTION

2018: ZERO MAINSTREAM ADOPTION

2019: ZERO MAINSTREAM ADOPTION

2020: ZERO MAINSTREAM ADOPTION

2021 - UNTIL THE END OF TIME: ZERO MAINSTREAM ADOPTION

When will you tards ever learn?
Never of course because you're all a bunch of bistcoin tards.
RemindMe! 100 years
'''
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submitted by removalbot to removalbot [link] [comments]

@nytimesbusiness: The amount of cryptocurrency spent on so-called dark net markets, where stolen credit card information and a wide array of illegal drugs can be purchased with Bitcoin, rose 60 percent to reach a new high of $601 million in the last three months of 2019. https://t.co/oBG4EZ93RS

@nytimesbusiness: The amount of cryptocurrency spent on so-called dark net markets, where stolen credit card information and a wide array of illegal drugs can be purchased with Bitcoin, rose 60 percent to reach a new high of $601 million in the last three months of 2019. https://t.co/oBG4EZ93RS submitted by -en- to newsbotbot [link] [comments]

@nytimesbusiness: The trading of Bitcoin on cryptocurrency exchanges has slowed. And using Bitcoin to buy legal items has also dropped, @nathanielpopper writes. But one corner of the Bitcoin economy is still going strong: the sale of illegal drugs and other lawbreaking. https://t.co/3ytSVSKKz4

@nytimesbusiness: The trading of Bitcoin on cryptocurrency exchanges has slowed. And using Bitcoin to buy legal items has also dropped, @nathanielpopper writes. But one corner of the Bitcoin economy is still going strong: the sale of illegal drugs and other lawbreaking. https://t.co/3ytSVSKKz4 submitted by -en- to newsbotbot [link] [comments]

U.S. Feds Indict Woman For Trafficking Illegal Drugs For Bitcoin

U.S. Feds Indict Woman For Trafficking Illegal Drugs For Bitcoin submitted by ChinnyBeneath to Bitcoin [link] [comments]

@realDonaldTrump: I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

@realDonaldTrump: I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.... submitted by POTUS_Archivist_Bot to POTUSWatch [link] [comments]

VIDEO DOCUMENTARY: Exposing The Bitcoin Cash Illegal Dark Assassination, Drugs & Child Porn Markets

VIDEO DOCUMENTARY: Exposing The Bitcoin Cash Illegal Dark Assassination, Drugs & Child Porn Markets submitted by jim-btc to bitcoincashSV [link] [comments]

VIDEO DOCUMENTARY: Exposing The Bitcoin Cash Illegal Dark Assassination, Drugs & Child Porn Markets

VIDEO DOCUMENTARY: Exposing The Bitcoin Cash Illegal Dark Assassination, Drugs & Child Porn Markets submitted by jim-btc to CryptoCurrency [link] [comments]

President Trump: "I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity...."

President Trump: submitted by rTrumpTweetsBot to trumptweets [link] [comments]

ILPT: Sell illegal things online (like guns, drugs, and weapons) via Bitcoin, but don't do anything once you get the money.

They can't report you. If they complain just say the thing got caught by customs or seized
submitted by davefrom1990 to IllegalLifeProTips [link] [comments]

Vancouver man convicted of drug charges claims police illegally seized $3 million in bitcoins

Vancouver man convicted of drug charges claims police illegally seized $3 million in bitcoins submitted by RightWingRights to vancouver [link] [comments]

Bitcoin used for purchase of illegal drugs as Chinese law enforcement tightens clampdown

Bitcoin used for purchase of illegal drugs as Chinese law enforcement tightens clampdown submitted by n4bb to CoinPath [link] [comments]

VIDEO DOCUMENTARY: Exposing The Bitcoin Cash Illegal Dark Assassination, Drugs & Child Porn Markets

VIDEO DOCUMENTARY: Exposing The Bitcoin Cash Illegal Dark Assassination, Drugs & Child Porn Markets submitted by jim-btc to bitcoinsv [link] [comments]

08-16 21:54 - 'Define drug? California has pushed for legalized drugs repeatedly and slowly add more to what is legal. / Pharmaceutical drugs are worse than illegal drugs but big pharmaceutical companies pay big money to big politicia...' by /u/Redditorrated removed from /r/Bitcoin within 284-294min

'''
Define drug? California has pushed for legalized drugs repeatedly and slowly add more to what is legal.
Pharmaceutical drugs are worse than illegal drugs but big pharmaceutical companies pay big money to big politicians who make dangerous drugs legal.
Then many say caffeine is a drug, addictive fatty foods are drug-like.
'''
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submitted by removalbot to removalbot [link] [comments]

@realDonaldTrump: I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

@realDonaldTrump: I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.... submitted by FreedomNewsPolitics to Trump_Train [link] [comments]

@realDonaldTrump: I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

@realDonaldTrump: I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.... submitted by SextacularSpiderman to TrumpsTweets [link] [comments]

The illegal drugs you do in your garage meme - YouTube Bitcoin Goes Legit, but What's the Catch? - YouTube RAW INTERVIEW: Former drug dealer explains how easy it is ... BITCOINs Deadly Use Case Revealed! China, Cartels & Drug ... First Legal Bitcoin Payment for Marijuana - YouTube

In 2019, darknet markets are still promoting illegal drugs which could be bought with cryptocurrency, but U.S. law enforcement proceeds to have a hardline strategy, arresting a few in California on Aug. 6 to selling medications on the darknet in exchange for Bitcoin and Bitcoin Cash (BCH). Yes, you can buy illegal drugs on the Internet, and it's a lot safer for you than dealing with the types of characters you expect to meet on AMC's next acclaimed series. The dealers on the darknet ... "We estimate that around $76 billion of illegal activity per year involves bitcoin (46% of bitcoin transactions), which is close to the scale of the U.S. and European markets for illegal drugs ... Drug dealers are using bitcoin to finance the deadly wave of fentanyl flooding into the country from overseas. We follow the money from Main Street to the dark web and show how the cryptocraze ... approximately one-quarter of bitcoin users are involved in illegal activity. We estimate that around $76 billion of illegal activity per year involve bitcoin (46% of bitcoin transactions), which is close to the scale of the U.S. and European markets for illegal drugs. The illegal

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The illegal drugs you do in your garage meme - YouTube

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. The chance arrest of three drug peddlers has revealed many unknown aspects of the narcotics trade: that bitcoins are being used to buy drugs from a dark site is foxing Bengaluru police. Bitcoin has long history with the dark web, Silk Road, illegal drug trade, and more. Find out how this is being prevented, what happened to those dark web si... Brooks Jarosz Reports. Original report: http://bit.ly/2W1fpVM Laundering money for the Mexican drug cartels, through Chinese underground banking systems! Chainalysis exposed how Huobi & Binance are accepting most illegal funds & now we expose further on who ...

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