This is reductive or just explained poorly, both on your part. Law abiding citizens have no reason to withdraw Paypal funds just because criminals may use it as well. A criminal using Paypal is no more a criminal hiding within a company than a criminal using cash is hiding in the government.
What if FBI freezes all the funds with paypal for one year to complete their investigations ? Paypal user's money will be frozen for one year. ISIS has shaken Obama. Russian war jet got shot down because of ISIS.
I don't see that happening. The wouldn't freeze all PayPal activity worldwide. If they froze anything, they would only freeze accounts suspected of nefarious activity or being associated with nefarious activity.
I think this guy is on to something! Let's simply ban the tools criminals use, then there will be no more criminals! EVERYTHING tainted by illegal activities must be stopped. First we need to get rid of computers and the internet, they are cyber criminals #1 tool. They are also tainted by child porn, while we are at it we have to get the FBI to take out all camera's too, they are how these pedo's capture innocent children's images. Then we need to move on to auto thefts, drunk drivers and speeders. If we remove cars form our roads then these types of criminals can't ever hurt us! ISIS is a huge problem too, let's deal them a HUGE blow and stop using oil altogether, if we simply ban petroleum products then ISIS will have no more money. While we are at it, might be a good idea to shut down Toyota's production of trucks since I know a lot of terrorists use them. I think you can see where I am going with this... or shall I continue?
I was with Stormpay when all the funds in Stormpay was frozen for 2 to 6 months by FBI. ISIS has given nuclear detonation threat to USA. If paypal has ISIS's account and illegal Bitcoins have been converted to Paypal then..
Seriously. Please close this thread. First off, the people who run paypal are not idiots.. if there was any risk to them they would not have done it. Second off (sic), The actual transaction from paypal to bitcoins is not how you are describing it. The FBI would be no more likely to shut-down paypal than they would any of the millions of websites or real stores that use bitcoins. Third off (sic sic). I do actually agree that bitcoins are a problem for law enforcement.. but there are these silly things called laws that have to be created in order to actually make something illegal, and THEN the FBI can go after them. So far congress has not passed any bills that limit bitcoins, let alone against people who use them. The thread topic is meaningless and is not even 1% close to the truth.
Do I think crimes are committed and Paypal helps facilitate them.. of course.. as you said.. 200 million users and it is easy to transfer money to anyone. But that does not mean the FBI will shut down paypal. There are probably 100,000 trucks that enter the USA from Mexico each week, many of them bring drugs, weapons or illegal immigrants.. does the FBI shut down the roads, or ban trucks from Mexico? Of course not, because the hardship it would create on the economy isn´t worth the small amount of crime that can be prevented. The other thing you are ignorant about is that the FBI can, and does get warrants for paypal accounts, the same as it gets them for any bank, as well as Google and Facebook. Why would the FBI shut down paypal when it is probably one of the easiest ways it can catch the criminals. You make no sense, what is Obama shaking about? You think he is afraid he will lose the upcoming election?