Ok, that's intersting and all but can you please stick to the press guidelines before posting? Can you edit your thread title to include both the date and the source like everyone else does? Thanks

On the report per sé, I don't know if that's good or bad, certainly shows how the naysayers bluff when they say bitcoin is used by criminals.

Not to be a downer or anything -- I'm as cautious with the good as I am with the bad, when it comes to experts from that part of the political agenda.

Also, don't think he actually proved anything, just found a lot of evidence that contradicts past conclusions/findings from people on his side of the fence.

And hasn't it been old news since at least Silk Road and including data from Chainalysis (which CIA or FBI uses, can't recall) as early as 2016 that Bitcoin's use in illicit activities is just really, really low, and keeps getting lower? Edit: the very same "less than 1%" data from Chainalysis is referenced in this report.

Still pretty interesting though!

This actually does not need much spelling out to people. Only the Bitcoin haters are giving dignity to this accusation.

When Bitcoin started it was probably something only appreciated by the nerdy and the geeky; it doesn't have a price yet, after all. And while its use soon grew underground, how much percentage of underground transactions was done through Bitcoin? I bet it was less than 1%. So this accusation is garbage right from the start.

If they wanted to curb illegal transactions objectively, without prejudice against this rising independent currency, they should have stuck their noses into fiat.

Not to mention that there are a lot of crimes that are going on without being monitored by the law enforcement, maybe this stats were just the activities that were caught, there is probably more.

The report pointed out repeatedly that Blockchain is the best forensic tool available for tracing transactions. It states multiple times that authorities can trace coins that have gone through mixers, when they go for it. Does that render anonymizing platforms useless in the long run? In a probable future where Bitcoin is going to be used for all sorts of financial transactions, would it be a good thing that the governments will have all the control over how normal, middle-class people manage their money?

I don't know about the developed world but a lot of people in developing countries often pin their hopes for a comfortable retirement on pieces of obscure lands bought in the hope of appreciation. When such assets appreciate, the transactions happen in cash while the transaction amount that appears on paper trail is lesser. In a world with cryptocurrencies, it'll be impossible to do anything like this. Ditto for small businesses, self-employed blue-collar workers using cash to earn a little extra. Some call it tax evasion but does it bode well for the common people?

The real money launderers don't have to worry as they have plenty of options like HSBC, Citibank to do it for them in far more sophisticated ways. The report raises more questions than answers. Though as a purely lobbying and PR exercise, there is nothing better than an ex-CIA director endorsing the use of Bitcoin.

So the conclusion of this statement in your opinion is valid if the use of bitcoin for illegal things is still not big?
I am confused by that, because on the other hand there are groups that agree that bitcoin is often used for crimes, especially terrorism. on the other hand there is this statement, maybe I should look for many sources of reference to see the real facts

Of course, he didn't discover anything new that we didn't already know, and that is that Bitcoin is not something used by criminals or terrorists. When all the possible data is compared, then fiat is still the king when it comes to illegal activities, and if someone wants to hide something through crypto, then they will use other alternative currencies that have far greater privacy.


And I believe you're not the only one who's confused, because the media always emphasizes that Bitcoin is something that bad guys mostly use - but it's slowly becoming a nonsense story, because according to that, both PayPal and Tesla should also be on the other side of the law if they use Bitcoin. As a result, the focus of the "Bitcoin is bad" story has recently shifted to the environmental impact of mining. You don't have to believe everything you read on the internet, most of the news is mostly speculation and bad journalism.

This is a very powerful information statement coming from an Ex CIA director which proved the misinformation and false claim which a lot of Bitcoin hater within the government are feeding the major public about Bitcoin been use for illicit activities so they can cause FUD in the market it all a lie but is still sad though because the CIA director makes this prove after he leaves the office and the same thing goes to Trump ex-chief strategist that said Bitcoin is a true symbol of liberation.
Which mean a negative statement about Bitcoin said from the government agency which is currently in the office shouldn't be trusted.

agree with you, we have to respond to this news from two sides...
If his report says Bitcoin is used more often for crime then we can also argue that fiat money was already used for crimes such as drug transactions, arms trafficking, and bribery, long before Bitcoin existed.