The high level of anonymity within means that it's very hard to trace transactions. It's not absolutely impossible, but it's unrealistic in many cases. Therefore crime with cryptocurrency-- since you've got fast, borderless transactions,
and you've got a advanced level of anonymity, it theoretically produces a system that is ripe for exploitation. Therefore typically when it's an offense on the web with on line cost techniques,
chances are they tend to go to the authorities and, claim, we can hand around this cost data or we can stop these transactions and reverse them. And nothing of that may happen with Bitcoin, so that it helps it be ready for criminals, in theory.
In light of this, plenty of different agencies are studying into Bitcoin and looking at Bitcoin and trying to know the way it performs and what they can do to police it. It's been in the media quite a few occasions,
and the media, being the press, like focus on the bad side of it. So they really emphasis very greatly on the crime with it. So if there's a theft or a con or anything that way, chances are they often responsibility it on Bitcoin and Bitcoin users.
Therefore the most significant is probably Cotton Path, which got taken down lately, and through their $1.2 billion price of Bitcoins, gone to pay for such a thing from drugs to weapons to hit guys to these types of things. And the media, again, quickly the culprit this on Bitcoins and say that it was the Bitcoin user's fault.
But there's actually very little evidence of the scale of the issue of offense with cryptocurrencies. We don't know if there's a lot or we don't know if there's a little. But regardless of this, people are very fast to model it as a criminal thing, and they forget the reliable uses, such as the fast and fast payment.
So a couple of research questions I'michael looking at in this region is what does crime with Bitcoin look like? So lots of persons can claim that cons and thefts have now been going on for ages. Nevertheless the suggests through which they occur improvements with the technology. Therefore a Victorian road swindler would practically be performing anything really dissimilar to a 419 Nigerian prince scammer.
So the next problem that I'n like to research as properly is considering the degree of the issue of crime with cryptocurrency. Therefore by generating a log of identified scams and thefts and things such as that,
we can then mix reference that with the public transaction wood of all transactions and see the amount of of the transactions are now actually illegal and criminal. So my final question could be, to what degree does the technology it self actually help crime? By looking back at the crime logs,
we are able to see which particular types of offense happen, and when it is really the technology's fault, or is that just the same old violations that we've been looking at before. And when we've contemplate these exact things, we can begin to think about forex scams methods to the matter of crime with Bitcoin.
And we could contemplate that the only real acceptable alternative could be one that preserves the underlying prices of the engineering itself, which may be privacy and decentralisation. A lot of emphasis from the press is always to consider the offender aspects of it.
And they don't give enough price to the respectable uses, because Bitcoin is just a technology that allows fast, quick funds, which will be helpful to anyone that's ever taken care of such a thing on the web.
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