Bitcoin's anonymity is really a great characteristic. It enables users to use BTC in any transactions with nearly no traces. But is this really a good thing? Let us consider utilizing bitcoin in a negative way. Since bitcoin is considered currency, there is no doubt that a person that needs money will not reject bitcoin even if it involves unethical or illegal act.
Due to the anonymity of bitcoin, some uses bitcoin in a negative way [citation needed]. They can easily use bitcoin in paying others to commit crimes. They can even use bitcoin in bribery and/or money laundering. This characteristic of bitcoin are abused [citation needed] and it will never end well.
For the case of terrorism, terrorist can easily purchase weaponry from other country. With the use of transaction using bitcoin, authorities will have a hard time tracing that transaction thus, will give advantage to the side of terrorists.
This is not an impossible scenario. People can now use bitcoin in any way they want to. It's inevitable.
Since this is a topic that has being asked many times i will make them short,bitcoin can give us the anonymity but it is traceable and if you are planning to move your coins to fiat currency you really need to verify your documents in most of the exchanges before proceeding .When it comes to money laundering and bribery it is not that different than fiat and do you think that there was no terrorism before bitcoin. Due to the anonymity of bitcoin, some uses bitcoin in a negative way [citation needed]. They can easily use bitcoin in paying others to commit crimes. They can even use bitcoin in bribery and/or money laundering. This characteristic of bitcoin are abused [citation needed] and it will never end well.
For the case of terrorism, terrorist can easily purchase weaponry from other country. With the use of transaction using bitcoin, authorities will have a hard time tracing that transaction thus, will give advantage to the side of terrorists.
This is not an impossible scenario. People can now use bitcoin in any way they want to. It's inevitable.
People can user fiat any way they want and so is the case with bitcoin.