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Author Topic: its a rumors but...  (Read 185 times)
Asiska02
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August 06, 2023, 08:10:31 PM
 #21

Im not against it its just i hear here and there that they create BTC for that purpose in the first place so they can get paid anonymously !! even governments and their spies  !! send payment to killers and cuts deals in the black market and so on.

Before the invention of bitcoin, all this illicit activities has been going on through the use of fiat. If they knew how the bitcoin network works and how funds can be tracked from one address to another, bitcoin will be the last option for them to use in their illicit activities. The name attached to bitcoin of being used for this purpose is just to tame it and to stop its use since it doesn’t have any central authority like the government owned central banks.

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I love bitcoin and i think its the best currency ever !! its helps !! it's fast and all of that but still I'm afraid of this DARK side of it

If only you knew how many people have been caught through the process of asking for ransom through bitcoin. Once the identity of a person is attached to the address they’re receiving funds from, they’ll definitely be caught easily than when they request to be paid through fiat/cash.

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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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Mpamaegbu
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August 06, 2023, 09:33:48 PM
 #22

Is there anything made good and serve for good purposes that criminals and scammers can't also benefit from it?
In fact, for the fact (pun intended) that criminals use it shows that it's widely sought after. No one likes to imitate a product that isn't in popular demand. Like you rightly opined, no one should give a dog a bad name just to hang it. There's a whole lot of criminal activities involving the use of fiat but no one has said fiat is bad and should be outlawed based on that. It amuses me when people go that route and think they're making sense in picking out something against Bitcoin based on this. It's an argument that falls flat on its face, honestly.

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Mr.suevie
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August 06, 2023, 09:34:12 PM
 #23

The same way your fiat currency can be used to purchase or pay for the murder of innocent people that's the same way Bitcoin too can be used by anyone and anybody as it's purpose is also fixed as it's used as a digital currency but the thing is that Bitcoin wasn't build for these purpose and fiat can be controlled by the government to their own benefits while BTC is totally decentralized and no central bank watches or controls your funds for their own benefits. Plus humans are the one always violating the use of everything.

R


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HajiBagi
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August 07, 2023, 05:37:35 AM
 #24

I don't know what you mean by the dark side of Bitcoin but I don't see that Bitcoin is heaven for hackers(like the above said hackers can also do it on fiat/cash) it is just likely the same as Fiat which you can use anywhere online the difference is Bitcoin does not have physical currency compared to fiat and Bitcoin does not controlled by governments due to decentralization.

Bitcoin is just digital money only users made it to have a dark side of it.

You are correct; it is only those who wish to use bitcoin in a negative way that cause you to see its dark side. Since I have been familiar with bitcoin, I have not heard of any negative effects other than when the price is low or high. Many people still have faith in bitcoin, which is why they continue to invest in it. Regarding the Harker, even though bitcoin is currently decentralised and not governed by banks or the government, it still has a strong stain. centralised currency, sometimes known as fiat, is the currency that receives the most attention in terms of getting hark in today's world.
What I'm attempting to convey is that every money has been hacked, and we shouldn't pass judgement on anyone when this happens because both fiat and bitcoin are digital currencies; the only difference is that bitcoin does not have a physical form. As for me, I will always be interested in bitcoin because, to be really honest, I adore it. not only me, as I think there are thousands of individuals who love bitcoin and some of them don't even like fiat like bitcoin. I also think bitcoin will have greater popularity in the future.

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