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The Dark Side Of Bitcoin The Dark Side Of The Criminal Case And Digital Money Bitcoin - Bitcoin is currently a concern because with...

The Dark Side Of The Criminal Case And Digital Money Bitcoin


The Dark Side Of Bitcoin
The Dark Side Of The Criminal Case And Digital Money Bitcoin - Bitcoin is currently a concern because with all those advantages which are decentralized and non-binding in the system transactions and ownership. But on the other hand, it is thus reaping various digital currency dark side of it. The concept instilled by the inventor, Satoshi Nakamoto, that Bitcoin is offering ownership intact without the need for bonding with third parties from both the private and Government, becoming an attraction for its users. But as time passes, it is realized as a debilitation of the currency found in 2009.

According to the article at Business Insider, Bitcoin became very useful for perpetrators who want to hide money for his crime. Because if they keep the money in the bank, money is the result of the crime can be easily detected. Bitcoin can also be abused by people who want to hide his income from the Government, and to avoid the obligation to pay taxes. Thus, State revenue from taxes that will be lost because of the money that is not detected. Not only on purely criminal acts, lack the most basic Bitcoin also happen because it's not real.

Even though the shape is not real, it's not that Bitcoin is free from theft. One example of theft undergone by Sheep Marketplace, an illegal website selling illegal drugs, which lost 220 us dollars in Bitcoin due to rampant computer system hackers. Not to mention the value of the currency instability Bitcoin if converted to conventional currencies other very volatile. Today, maybe the owner can be very rich by having the Bitcoin worth 1,000 us dollars. However, who knows if later on the remaining monetary value of 50 us dollars.

Business Insider noted the small number of events that caused huge losses for the owners of the Bitcoin. A man never lost about $600 because of the reset on a smartphone and it turns out, she accidentally permanently erasing your digital wallet Bitcoin. Another example, a man has also lost some 90,000 us dollars when transacting and instead choose the delete button.

A number of online platforms are indeed being tested payment with currencies Bitcoin Wordpress, among others, Reddit, Namecheap, Mega, and Zynga. However, a number of countries even prohibit transactions with Bitcoin. The Chinese Government, for example, prohibit all financial institutions receiving transaction Bitcoin. While the European Union assess the Bitcoin more easily stolen. The investment is also bad because currency values are only determined based on market demand and have a high level of fluctuation.

Few Criminal Cases That Using Bitcoin

Bitcoin technology based on blockchain technology gives it an attractive option for the criminals more sib. With the operation of the Bitcoin as currencies are decentralized, people can make deals without the existence of intermediaries such as banks or other financial institutions. The absence of middlemen makes users Bitcoin get anonymity and confidentiality are impenetrable levels of intervention by a third party.

The case of the illegal drugs Trade Silk Road
Rose Ulbricht, inventor of the Silk Road--an underground digital marketing platform that facilitates the sale of illegal drugs--was sentenced to life imprisonment in February 2015. Present as hidden platforms for illegal drug sales transactions on the Silk Road, dark web briefly worth 1 billion u.s. dollars (Rp 13.5 trillion) using Bitcoin as a virtual currency in transactions.

Ponzi Scheme Fraud Case Trendon Shavers
In September 2015, an American citizen, Trendon Shavers, was found guilty after a fraud through a Ponzi scheme worth 150 million u.s. dollars (equivalent to Rp 2 trillion). Shaver's set up a stock company named Bitcoin Bitcoin Saving and Trust that uses the guise of investment Ponzi scheme to defraud victims. Ponzi scheme is a fraudulent investment mode in which the perpetrator paying out profits to investors in the form of investor money itself or money paid by subsequent investors. This Shavers case became the first federal securities fraud cases involving Bitcoin.

The Case Of The Terrorist Bomber Mall Natural Silk
October 2015, Indonesia appalling society with Natural Silk mall bombing. Leonard Vishnu Kumala, the perpetrators of the bombing of a mall in natural silk, rumoured to threaten and extort the mall management by asking for 100 coins Bitcoin equivalent to Rp 300 million. Mall Natural Silk responds only giving 0.25 Bitcoin or equivalent to Rp 700 thousand. Upset with the response of natural silk Mall just send a fraction of his request, Leonard ever put the bomb finally exploded in the toilet of the natural Silk Mall women.

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