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.
You know what? We have knives that we use for cutting fruits, vegetables, and many other useful things; well, some use it to kill others as well. Should knives be illegal? Who/which is the risky one here? The knife or the user? Make some sense dude when you say it's Bitcoin that is helping drugs, sex trafficking, etc. you acknowledged how fiat is helping all these more than how Bitcoin is.
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 transactions are transparent, not private. You can track most txs if you put effort and investment. There are a lot of on-chain analysis services. While the chance of tracking fiat is very much less than Bitcoin.