The internet belongs to society and is shaped by society. And until society is a crime-free zone, the net won’t be a crime-free zone.

So what is a cryptocurrency? A cryptocurrency market cap is a decentralised payment system, which basically lets people send currency together over the web without resorting to a trusted alternative party such as a bank or lender. The transactions are cheap, and perhaps, they’re free. As well as, the instalments are pseudo anonymous as well.

After that, the main feature is always that it’s completely decentralised, meaning there’s no single central point of authority or anything like that. The implications of this is performed by everyone having a full copy of all transactions which have ever happened with Bitcoin. This creates an incredibly resilient network, meaning no-one can change or reverse or police some of the transactions.

The high degree of anonymity in there implies that it is rather hard to trace transactions. It isn’t totally impossible, but it is impractical in most cases. So crime with cryptocurrency– as you have got fast, borderless transactions, along with an advanced level of anonymity, it in theory results in a system that is ripe for exploitation. So in most cases when it’s a criminal offense online with internet payment systems, chances are they tend to visit the authorities and, say, we could give over this payment information or we could stop these transactions and reverse them. And none of that sometimes happens with Bitcoin, so it makes it ripe for criminals, in theory.

In relation to this, lots of different agencies are researching into Bitcoin and searching at Bitcoin and looking to understand how it operates and just what they are able to do to police it. It is also held it’s place in the media many times, as well as the media, being the media, like concentrate on the bad side than it. So they focus very heavily around the crime with it. Therefore if there exists a theft or a scam as well, chances are they tend to blame it on Bitcoin and Bitcoin users.

So the most notable is probably Silk Road, which got taken down recently, and thru their $1.2 billion valuation on Bitcoins, went to purchase many methods from drugs to guns going to men to people kinds of things. And also the media, again, rapidly responsible this on Bitcoins and state that it had been the Bitcoin user’s fault.

But there’s actually very little proof of the size with the problem of crime with cryptocurrencies. Unfortunately we cannot determine if there is lots or we do not determine if there exists a little. But despite this, folks are extremely swift to brand it a criminal thing, plus they forget the legitimate uses, including the fast and quick payment.

So a few research questions I’m considering in this field is exactly what does crime with Bitcoin seem like? So a lot of people will state that scams and thefts have been happening for ages. Nevertheless the means whereby they happen changes with the technology. So a Victorian street swindler would practically do something different with a 419 Nigerian prince scammer.
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