Post
Topic
Board Bitcoin Discussion
Re: Bitcoin usage in crime activity.
by
sokani
on 06/04/2023, 23:38:35 UTC
Hello crypto bros.
Today I want to discuss a pretty big problem that bitcoin adoption is facing.
Bitcoin is great in means of anonymous transactions and getting away from the banks and government control, but the problem is, it's the exact problem why criminals are using it. And it's a pretty big one. I'm not saying that criminals use bitcoin more than fiat, but we all can see that illegal services are widely accepting bitcoin.

The problem here is that the system should have some way to fight these criminals because we don't want bitcoin to be associated with drugs and sex trafficking,  but the problem is, by solving these problems we should get rid of anonymity which is a pillar for the bitcoin technology, so it can't be done. And this problem might be a big obstacle in mass bitcoin adoption and regulations that are coming.

So I want to hear your opinion: how to make bitcoin technology "safer" so we could fight a crime committed with crypto and help with bitcoin adoption without taking away the main features of bitcoin like decentralization and anonymity?
Bitcoin can be used by criminals just as fiats to perpetrate crimes such as extortions, tax evasion, cybercrime, drug trafficking and many more but that doesn't make it all bad. Come on! The transaction is carried on a blockchain that is immutable and traceable unlike the fiat currency that one can easily manipulate and delete the records.