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?
There is no anonymity in a public ledger. You want anonymity? You deal with fiat. Cold hard cash. Thats anonymity.
Bitcoin is literally less anonymous than paper money. This comical rumor of Bitcoin being untraceable is a myth which is perpetrated by anti coiners who want to see BTC fail (It won't). As soon as you connect your identity to the exchange where you buy your Bitcoin, any Bitcoin transaction you make can be traced to you. So obviously its a misunderstanding. A lot of dark web drug dealers have been busted because they did not understand this. Also, ironically this is the reason why monero is now the golden standard for dark web criminal dealings.