Myth;Cryptocurrencies Are Used For Illegal Activities.. How On Earth Is That Possible

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Avatar for King_Gozie
2 years ago

**It’s not a good idea to commit crimes with cryptocurrency, immediately you have a weak link in your operational security all your history is now exposed. It’s not just traceable and easy to control, it’s much more trivial to trace these things..**

This is going to debunk most problems that exists, “How do you see or visualize cryptocurrency generally?” A figment of what is used only by drug dealers, money launderers and maybe some more criminals. “Do you believe it’s the greatest scam the world has ever seen or heard of?” Sure that’s what we all hear and it gets worse. We can confirm this that from years back compared till this point it is a lot less because most people irrespective of the name realize how ridiculous it may be, but there are millions or billions of others who still believe it.

Firstly saying it’s only used by criminals would mean 100 percent of all transactions are illicit but don’t we all know it’s the opposite sides, where not one transaction on the blockchain should be considered as being illicit. Secondly, How will people bank on performing illegal transactions over a network that saves every transactions forever, inevitably the blockchain has been built over for that purpose so it’s not the smartest move or decision to take.

There will be an exposure to whomever it is, planning a coup to this function. You don’t disengage an activity, saying cryptocurrency is illegal is not the problem but trying to believe that all function based programs can be pulled down by just a singular act is more like saying all mobile carriers can be shut down because someone used a cellphone to channel money somewhere. The goal is to change the structure, to make criminal mindset towards incentives less attractive.

Bitcoin and it’s counterpart’s can’t suddenly fade away when it becomes an instrument or a device to engage in the wrong path, it will retain what it is for years to come. It can actually be a force for peace and freedom, and the good sides always outweigh and knock off the bad.. it must depend on what it’s main usage is for and based within a controlled asset, not just for any form of criminal actions. Take note on what aspect all of this really comes into play, on a more comprehensive note I will like to ask everyone “What have you used your crypto earnings for, right from when you started earning on these two platforms (read.cash and noise.cash) or any other channel?”

If anyone has what it takes to pull of a breakthrough or a heist within the system, have it in mind that no one gets past a specific barrier. You are being monitored and every activity altered leads back to the main link. The mistake most people fail to understand before now is that, high crypto based project have public ledgers that can be seen and eventually that person will be caught. No transaction is anonymous to a main user, because everything is booked into a public ledger.

There will be many more cryptocurrencies that will exists months and years from today and maybe Bitcoin itself can be used for payment as a store of value.. So basically we can see a lot of public establishments and no one would want to take the back sides.. So therefore, there are still people or group of people who are still using and have made use these opportunities for good and not bad.

For everything good in life, it always has something trying to pull it down or spoil its reputation even when it’s so tight to do so.. Then I practically ask myself “why try so hard to successfully take down a chain when we can just do things normally like everyone else..

Can we all try to perform this thing together and let’s see if we will get caught… this could be me trying to bring everything all up in my head to life…where do we all start from;

Image source

“let’s say we planned how to divert certain funds of people separately into a wired source and we all agreed to move out a total of $2m. After days of working tirelessly, we had a full team with several jobs allocated.. and after the first one was gone and successfully placed in the right destination we felt pleased with ourselves. And we began moving the second, third and fourth from four individuals respectively.. in our minds there’s no one monitoring but whilst we where about celebrating our victory, we noticed a change in the coding system and all that was moved where traced back to the wired source… it’s not even making sense at all, that this could even be thought of..”

I really do hope I have said a few back stories to support my point of view… this isn’t a financial advice whatsoever, pease learn to DYOR if you have to.. we can’t take off the intention of anyone towards a criminal act, but it’s simply a waste of time and energy on what is impossible to do.. There will be rug pull, we can see that happen in recent times but most of these things happen when a system isn’t decentralized… I believe we must conduct a research on where we place our money and bet on..

slp address:

simpleledger:qpwnqc4skmkm8uterwfkzyuyn986dd7qau7fgcgk0p

Smartbch wallet:

0x3c13dC5662d437de2a4102dA3B00A8f57d5e1E20

December 2021

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$ 6.74
$ 6.20 from @TheRandomRewarder
$ 0.10 from @Jane
$ 0.10 from @HappyBoy
+ 11
Avatar for King_Gozie
2 years ago

Comments

But Cryptocurrencies is the easiest way for fast online fraudulent activities money transfer..I don't think it can't be Trace, because IP address can be changed

$ 0.00
2 years ago

I believe a system will surely detect when something like that happens… one that it’s chain link is completely decentralized.. these acts are literally happening every time

$ 0.00
2 years ago

Fraudsters are everywhere and use all possible means to get rich illicitly, one of the means that has facilitated them are the cryptocurrencies, they have a niche where many unwary fall into

$ 0.00
2 years ago

I really hope they realize that everything is all linked up and they will be caught in the act.. I could remember the last time I was in a rug pull, it was crazy how this people move and vanish with so much…

$ 0.00
2 years ago

No matter how much we have the bad guys, we still have good guys as well. There are still people or group of people who are still using and have made use of the opportunities of cryptocurrencies for good and not bad. And most importantly we are to keep educating the world that cyber crimes are wrong and could mar ones destiny.

$ 0.02
2 years ago

You really passed across a message and thank you so much… we must educate people about the dangers as well as telling them the benefits..

$ 0.00
2 years ago

Even life itself has it's ups and down. There are honest dudes too who'd maintain their integrity even when they could loose it for huge sum

$ 0.00
2 years ago

That’s true, it can be relatable to life, there will be the good and as well the bad..

$ 0.00
2 years ago

While cryptocurrencies did not exist, there was money laundering, There was the drug trade, there was gambling, human trafficking, The rhetoric that crypto is being used for illegal purposes is nothing but an excuse in the crypto adoption process. As crypto is used in illegal business, other currencies are used at the same rate.

$ 0.00
2 years ago

It’s basically the same thing about the difference will always be there as to how the networks differ… thank you for your contribution to this

$ 0.00
2 years ago

Hmm I think it is quite possible to use cryptocurrencies for illegal activities, it's just that you'll need someone good enough who understands how it'd work. I found a video explaining how criminals/hackers launder their money through crypto in a certain website and it's quite intriguing. That being said, bad people will always find a way to do bad things, whatever it takes, and crypto is included in it. At least that's what I think.

$ 0.03
2 years ago

The bad ones won’t stop finding several means to hack or take over the system… but with the way the network has been built it will take years before this even happens, besides each year becomes difficult with more development.. I will also watch those videos too

$ 0.00
2 years ago

I believe every system has negative and positive impacts on the public... It depends on the individual were to use their crypto but the consequences lie ahead. I for one used mine cleanly and honestly by spending my earnings on our necessities while storing some, thanks to these platforms.

$ 0.00
2 years ago

That’s literally how I relate to all of this, the consequences is always dare and anyone who still attempts that will one way be found and tagged as a criminal offense.. this platform has helped me achieve a lot in the digital world, I would never have imagined myself getting to where I am today in the space of some months…

Cryptocurrencies can be used for many things, the opportunity is limitless.. thank you zeon

$ 0.00
2 years ago

Your'e welcome brother. 😊

$ 0.00
2 years ago

Crypto can never be a scam, it's just one of the tools used by criminals to move money and as always it does has its limitations when it comes to things like that. The thing is, people will always find a way to take advantage of a system, but that doesn't make the system bad

$ 0.00
2 years ago

Exactly, recent happenings led to the doubt in the operation of cryptocurrency generally… some people still feel insecure of their funds in a decentralized system, I had these doubts as well when I first started..

There are implications to it, for anyone who tries to do such criminal act..

$ 0.00
2 years ago

Bitcoin might be used for some illegal stuff by the bad eggs but same thing applies to fiats. Nothing cannot be used by these people. We can't judge a whole with a part . Because one or two people use it for a certain thing doesn't mean all do.

$ 0.00
2 years ago

Exactly, there will be those who wouldn’t stop till their mission is accomplished… really not everyone should be categorized in that pattern, we still have the good people that make good use of the opportunity… thank you Happyboy

$ 0.00
2 years ago

I almost got scammed by rugpulls sir Gozie. I was about to invest a decent amount of money on a crypto game, luckily someone told me that it's a rugpull. I saw lot of my friend earning there but lately they're doomed..jeezz

$ 0.00
2 years ago

ThankGod you weren’t affected.. Eros that came out two months back would have been it for me, but a friend gave warning before it rug pulled… we just check these projects coming up if it doesn’t satisfy a lot of things, the signs are already there…

$ 0.00
2 years ago

Cryptocurrencies are not that well guraded so expecting that there's some illegal things happen, money laundering still happen even though thru online wallet.

$ 0.00
2 years ago

Yes it still happens but not when a system is protected tightly, bitcoincash is one of the reliable networks as well that can’t be manipulated. One most important factor is the project status, DYOR when necessary.

$ 0.00
2 years ago