The advanced of anonymity in there means that it's quite difficult to trace transactions. It's perhaps not fully impossible, but it's unrealistic in most cases. So crime with cryptocurrency-- because you've got fast, borderless transactions,
and you've got a high level of anonymity, it in theory produces something that is ready for exploitation. Therefore generally when it's an offense on line with on line payment methods,
chances are they tend to go to the authorities and, claim, we can hand over that payment information or we could end these transactions and reverse them. And nothing of that could occur with Bitcoin, so that it helps it be ripe for thieves, in theory.
In gentle of this, a lot of different agencies are researching into Bitcoin and looking at Bitcoin and attempting to understand how it works and what they could do to authorities it. It's also been in the media quite a few instances,
and the press, being the media, like focus on the bad side of it. So they really focus really greatly on the crime with it. Therefore if there's a theft or a scam or anything like that, then they have a tendency to responsibility it on Bitcoin and Bitcoin users.
Therefore the most notable is probably Cotton Street, which got taken down lately, and through their $1.2 million value of Bitcoins, gone to cover any such thing from medications to guns hitting men to those sorts of things. And the press, again, quickly the culprit this on Bitcoins and claim that it was the Bitcoin user's fault.
But there's really almost no evidence of the range of the situation of crime with cryptocurrencies. We don't know if there's a lot or we don't know if there's a little. But despite this, persons are very quick to manufacturer it as a offender issue, and they forget the reliable employs, including the fast and rapid payment.
So a couple of research issues I'm considering in this area is what does crime with Bitcoin seem like? Therefore lots of persons will claim that cons and thefts have been planning on for ages. But the suggests through that they happen changes with wallet recovery technology. Therefore a Victorian street swindler could almost be performing anything very different to a 419 Nigerian king scammer.
So the next issue that I'n like to research as properly is looking at the degree of the situation of offense with cryptocurrency. So by generating a wood of identified scams and thefts and things like that,
we will then combination guide that with people transaction wood of most transactions and see simply how much of the transactions are now illegal and criminal. So my final issue will be, as to the degree does the engineering itself really facilitate crime? By looking back at the offense records,
we are able to see which specific kinds of offense happen, and when it is really the technology's problem, or is that only the same kind of crimes that we've been considering before. And when we've consider these exact things, we can begin to think about possible solutions to the issue of offense with Bitcoin.
