Debunked: Bitcoin Facilitates Crime
There is a very real question that needs desperate attention. When the Silk Road was taken down last year the media talked for weeks about how easy it was for criminals to use cryptocurrencies either when they are buying illegal drugs online or when they need to launder ill-gotten gains. The reports are usually full of doom and gloom that predict the end of civilization as we know it unless we can get control of this currency. The question is: Is Bitcoin really a criminal's dream? The fact is however that the most misused currency in the world is the US $100 bill. This one bank note....
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In this life, you can always spin your view of the world into whatever reality you hope to create. If you spend your days with negative people, who rail against the same things you do, you will create a mutual damnation society if that is indeed your agenda. The World Bank had its annual "Law, Justice and Development Week" in Washington last month. Instead of someone credible, they asked the debunked Boston University professor and known Bitcoin hater Mark Thomas Williams to add his unique Bitcoin perspective to the proceedings. Also read: Boston University Economist Mark T. Williams'....
We've all heard them before. As a groundbreaking innovation, bitcoin naturally attracts skeptics just as strongly as it attracts supporters, and the technical and theoretical complexity of the digital currency can cause a considerable amount of confusion with those who are not 'in the know'. The result is that critics of bitcoin oftentimes fall back on one or two euphemisms to express why they think it will never succeed - simplified statements like "bitcoin is a ponzi scheme" that higlight often misunderstood characteristics of the digital currency but rarely fully address the situation.....
Glenn Hutchins said up to 90% of $100 bills are "used for organized crime and tax evasion."
Digital currencies such as Bitcoin are enabling individual criminals, who come together on an ad-hoc basis, to boost the "crime-as-a-service" business model. The newly-released Europol report titled, 'Exploring Tomorrow's Organised Crime', states: "Virtual currencies increasingly enable individuals to act as freelance criminal entrepreneurs operating on a crime-as-a-service business model without the need for a sophisticated criminal infrastructure to receive and launder money." The research, aimed at identifying the key trends in the EU criminal landscape, revealed that such developments....
Bitcoin is a freedom currency in a manner that isn’t obvious and which is virtually undiscussed. Bitcoin is commonly linked to victimless crime, but the dynamic reaches far deeper than merely freeing individuals to buy goods and services, unsavory or not. Victimless crime is the lifeblood of the surveillance state without which big government could not....