Cryptocurrencies are regularly accused of causing “deaths in a fairly direct way” (as Bill Gates put it). A report released by The Foundation for Defense of Democracies found that less than one percent of Bitcoin is used for illegal purposes.
Bitcoin Not as Criminal as Some Might Think
“the report demonstrates the transparency of the Bitcoin blockchain, and the analytical techniques that can be used by law enforcement to trace and apprehend cybercriminals, and by financial institutions to prevent the reintroduction of this dirty money into the mainstream financial system.”
Crime has existed long before Bitcoin and will continue to leverage new technologies to its own benefit.Read MoreObviously those people that are too negative about Bitcoin would always find ways to say something that will lead others to the path they belong to, to begin with. I find it cynical though, and a one-way street- precisely because these people only want to hear things that are at par with their beliefs. Hence, should you express a different opinion as theirs, you will be shut down outright. Moving forward with the data they have, we can see how a small fraction of criminality can be attributed to Bitcoin as compared to other payment systems. And yes, there is no denying that criminality have long existed even in the absence of Bitcoin. Anyhow, regardless of whether Bitcoin adds up to the criminality that has been going on around or not, sound mind dictates we should not blame the object but the subject because it is the latter who has the ultimate power to decide.