The Internet is part of culture and is shaped by society. And till society is a crime-free region, the Internet will not be considered a crime-free zone.
Therefore what's a cryptocurrency? A cryptocurrency is just a decentralised payment process, which fundamentally enables people send currency to one another around the net without the necessity for a reliable third party like a bank or economic institution. The transactions are inexpensive, and oftentimes, they are free. And also, the funds are pseudo private as well.
In addition to that, the main function is that it's totally decentralised, which means that there's no main stage of authority or anything like that. The implications of this is performed by everybody else having a full replicate of all the transactions that have actually occurred with Bitcoin. That creates a really resilient system, meaning no one can modify or reverse or authorities the transactions.
The advanced level of anonymity in there ensures that it's quite difficult to track transactions. It's not entirely difficult, but it's unrealistic in many cases. Therefore offense with cryptocurrency-- because you have got fast, borderless transactions, and you've got a high level of anonymity, it in theory creates something that's ripe for exploitation. Therefore in most cases when it's a crime on line with on the web cost programs, chances are they tend to go to the authorities and, state, we are able to hand around this payment information or we could stop these transactions and reverse them. And nothing of that could happen with Bitcoin, so it makes it ripe for thieves, in theory.
In mild of the, a lot of different agencies are exploring in to Bitcoin and considering Bitcoin and wanting to know the way it performs and what they can do to police it. It's already been in the press many times, and the press, being the press, like focus on the bad part of it. So they target very seriously on the offense with it. So if there exists a theft or a fraud or anything like that, they tend to responsibility it on Bitcoin and Bitcoin users. influencer
So the absolute most significant might be Silk Path, which got taken down lately, and through their $1.2 billion worth of Bitcoins, gone to fund such a thing from medications to guns to hit guys to those kinds of things. And the media, again, very quickly at fault that on Bitcoins and say that it was the Bitcoin user's fault.
But there is actually very little proof the degree of the issue of crime with cryptocurrencies. We do not know if there's a ton or we do not know if there is a little. But regardless of this, people are very fast to model it as a criminal point, and they your investment reliable employs, including the quickly and fast payment.
So a couple of research issues I'm looking at in this area is what does offense with Bitcoin appear to be? So plenty of persons may say that cons and thefts have been planning on for ages. However the suggests through that they happen improvements with the technology. So a Victorian block swindler could almost be performing anything really dissimilar to a 419 Nigerian prince scammer.
Therefore another question that I'd like to research as properly is looking at the range of the issue of offense with cryptocurrency. Therefore by generating a log of known cons and thefts and such things as that, we may then combination research that with the general public purchase wood of all transactions and see the amount of of the transactions are in fact illegal and criminal. So my ultimate question will be, as to the level does the engineering it self really aid offense? By seeking straight back at the crime records, we are able to see which specific kinds of crime happen, and if it is really the technology's fault, or is this just the same old crimes that we've been considering before. And when we have contemplate these specific things, we could begin to think about possible answers to the issue of offense with Bitcoin.