Cool, let them go ahead and use it for crime. I hope they are aware though that once a transaction is created on a blockchain it can never be changed and if highly skilled techies find a way to link those transactions to an ip address or computer that criminals own and then convince a jury of this then it’s long prison sentences.
Also good luck to the criminals exchanging the crypto for fiat (which seems to be the goal of crypto for most people) there are now strict rules in place which will highlight suspicious fiat transactions and trigger investigations.
We have to develop an understanding that criminals are most likely to use methods where PEOPLE are involved. Can you pay a person working within a bank to falsify records? Yes, it’s possible. Can you pay someone to create a fictitious transactions or delete entries on a blockchain? No, it is impossible.
We are so caught up in “crypto is a scam” that we fail to see it is people who are a scam. Many people were lied to and told “Bitcoin will reach £150k each by the end of the year” I’m pretty sure a few people were actually paid to say exactly that…can you see where I’m going?..at every step of what I’m explaining people come into it. TIN FOIL HATS MY BROTHER! I had to forget a lot of what I thought was fact and take a good look at what’s going on.
Let’s take a real look at this, say we have a person with £50k life savings, can you see the difference in that person following a scam advisor who says “Bitcoin will reach £150k each by the end of the year” or that person getting a real understanding of what bitcoin is by taking a few months to read about it and obtain actual stats on the rate of adoption. A good investor will know there are many aspects which would affect an investment such as Bitcoin to name a few; laws, adoption, confidence, how useful it is.
I hope you can see the difference.
When these dodgy scammers were asked how much will Bitcoin be worth in the future, the only answer is “It heavily depends on how many people use it for private transactions and if that figure grows” if we all had this way of doing things then the world would be a better place. Again…it’s people driving this, not crypto.
When a woman goes to get her car repaired and it turns out one of the problems was the battery which just needed a good solid 24 hour trickle charge most mechanics will just sell her another new car battery and then “dispose” of her old battery by charging it and selling it on for half the price, I found this with my partners mums car who had been told she needed a new battery, the problem was the engine kept stalling and needed restarting like 12 times on a short journey which drained the battery, once that stalling problem was fixed I charged the battery myself and the battery was absolutely fine for a good couple of years.
What people like about crypto is that other third party people don’t have to be involved. A lot can be verified by an owner of Bitcoin and because there is complete trust that a Bitcoin can’t be duplicated by a person we are left with a useful monetary system.
