[2018-03-07] Dark Side of the Coins: Cryptocurrencies on the Darknet

Kakmakr

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Are we back on that old topic again? Bitcoin is not immune to crime, as is the case with all other currencies and payment networks.

Would Bitcoin be a currency, if it could not be used for crime? No, it would not be.

Is Bitcoin more anonymous than cash or any of these payment options that are exploited? No it is not. Is Bitcoin the best coin to be used for anonymity? No, there are other coins that are much better for this.

Add this to the FUD that are targeted towards Bitcoin.

jjacob

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Quote from: Vladdirescu87 on March 07, 2018, 09:48:04 AM

According to Australian studies, 47% of all bitcoin transactions happen on the darknet. And, of course, involve criminal activity.

Cryptocurrency is ideal for illegal operations, providing the necessary level of anonymity. Tracking a wallet’s owner is extremely difficult, despite the fact that in the blockchain everything is transparent and open. Such a paradox. Basically, cryptocurrencies give carte blanche to the outlawed.

This kind of FUD has been around since the days of the Silk Road - when people thought Bitcoin was a currency only used to purchase drugs. That perception has changed but once in a while articles like this do come. Criminals, like all other people, look for the utility value of different technologies. They recognize the potential and value of cryptocurrencies and use it as a medium of exchange. Nobody is talking about shutting down the internet just because some illegal activities take place there.

prehisto

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Your Data Belongs To You

Does not look like a good article at all. Facts taken from different years at put together like mentioning Silk Road although it was a long time ago.
Also they are saying that half of BTC transactions are occurring at DarkWeb, wasn't DarkWeb mostly Monero nowadays..

veleten

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Quote from: Adalbert_Stifter on March 07, 2018, 12:36:04 PM

It's the same thing like Bill Gates claming cryptocurrencies 'causing deaths'.

https://www.telegraph.co.uk/technology/2018/02/28/bill-gates-warns-cryptocurrency-causing-deaths-microsoft-cofounder/

This is so stupid since it's the drugs who cause the deaths, not the currencies. Otherwise you might also blame cars cause deaths, knifes cause deaths and so on.

What do you guys think?

it is retarded
like blaming knives for murders
especially given the fact that cryptocurrencies have less than 0.1% of total money in circulation

http://money.visualcapitalist.com/worlds-money-markets-one-visualization-2017/

if Bill Gates wants to blame money for people's deaths-he should be blaming dollars instead

Adalbert_Stifter

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It's the same thing like Bill Gates claming cryptocurrencies 'causing deaths'.

https://www.telegraph.co.uk/technology/2018/02/28/bill-gates-warns-cryptocurrency-causing-deaths-microsoft-cofounder/

This is so stupid since it's the drugs who cause the deaths, not the currencies. Otherwise you might also blame cars cause deaths, knifes cause deaths and so on.

What do you guys think?

Vladdirescu87

sr. member

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Merit: 264

According to Australian studies, 47% of all bitcoin transactions happen on the darknet. And, of course, involve criminal activity.

Cryptocurrency is ideal for illegal operations, providing the necessary level of anonymity. Tracking a wallet’s owner is extremely difficult, despite the fact that in the blockchain everything is transparent and open. Such a paradox. Basically, cryptocurrencies give carte blanche to the outlawed.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/cryptocurrencies-on-the-darknet/

Topic: [2018-03-07] Dark Side of the Coins: Cryptocurrencies on the Darknet (Read 122 times)