A recent report by Chainalysis says almost 1 million bitcoins are owned by hackers, scammers, and dark web buyers. Many media outlets say bitcoin will never become mainstream until it shakes this “dark side” of its reputation permanently.
Is this true though?
Criminals use all kinds of other financial tools, and it doesn't affect their reputation.
Cybercriminals attack Internet of Things devices over 5000 times a month. But your router and connected cameras, which account for 90% of this activity, aren’t having trouble with mainstream acceptance either.
And what is the definition of "mainstream adoption”, because this term seems to be a moving goal post.
I talk about the recent Microstrategy announcement, Grayscale report, and news from the OCC about bitcoin allowed in banking.
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Reports cited:
Illicit activity report:
https://markets.chainalysis.com/#risk-illicit-placement
Article referred to:
https://www.livebitcoinnews.com/chainalysis-too-much-btc-is-still-owned-by-dark-market-players/
Microstrategy announcement:
Hacker stats:
https://www.consumeraffairs.com/finance/identity-theft-statistics.html
good article