The Dark side of Cryptocurrency

[Thymoty]

We cannot deny that every human creation has its negative and positive effects. Especially cryptocurrency which was originally created for freedom of transaction. We should be able to see the positive side more than the negative.

[gunhell16]

Bitcoin or cryptocurrency are both created for all people who will choose to invest in here. Which means if the people is one of the bad guys He/She can use Bitcoin or cryptocurrency in illegal activities for sure. And this type of people is the scammers and hackers can do this 100%.

[MrSpasybo]

"The dark side of crypto - being abused by bad guys for bad intentions" - this topic is always hot, I have read everyone's opinion, and found that most of the time it is easy to accept that negative/dark side of crypto.
I never think that we need to accept any negative, we acknowledge their existence but need to fight to limit it to the maximum.
But when we find the solution to that problem of crypto, we put ourselves in the shoes of governments who feel that their power is threatened by crypto

As of now, we have not found a solution to this problem, and perhaps that is the biggest weakness exploited by the opponents of crypto. KYC on exchanges or platforms does not completely solve the problem, even is abused by hackers.

Perhaps we have to wait more time for advancements in legal technology to create the best solution, while ensuring anonymity and keeping crypto from being abused.
There are many people talking about CBDCs, but it's currencies controlled by governments, they're not 100% crypto.

[labonikhatun]

I agree with you that the dark side of cryptocurrency is the mismanagement of crypto these are usually hacked by scammers crypto cannot be eliminated this requires caution since crypto is not legally recognized no legal action can be taken. You need more than luck to succeed in affiliate business then it will be possible to keep some investment safe.

[H2O]

The most important thing in cryptocurrencies market that it is running in a illegal ways. Now a days most of the exchanges , projects new projects, are being seized by hackers. Another problems is that international smuggling, money transferring, laundering and casino.

[UNIVERSE]

The dark side like this is also in the real world. So, it will not end so easily because we cannot control the world. the only thing we can do is avoiding them as can as possible. Additionally, the way is by not involved in them and be one of the crypto holders that really support the crypto for sure.

[ayatoslaw]

The dark side like this is also in the real world. So, it will not end so easily because we cannot control the world. the only thing we can do is avoiding them as can as possible. Additionally, the way is by not involved in them and be one of the crypto holders that really support the crypto for sure.

Agree, the most important thing is we are not involved in it, at least we can tell the people around us not to do the same,
Using bitcoin for illegal transactions has been done for a long time, and it cannot be avoided because this is what decentralization is all about.

[Casual]

What kind of popularity has actually increased but a lot.  I think if there was no project scam, but the popularity of cryptocurrency would have increased. I have seen many people doing many projects but no love is due to the scam project.  Action must be taken against scammers so that they do not run any scam project.  Then I believe cryptocurrency will definitely go much further.

[ashraf786100]

Wrong people are everywhere Most hackers are using cryptocurrency and misusing funds because most cryptocurrency is decentralized and cannot be caught for people's stolen funds, so all hackers are using the Dark Web.

[Ace H Knows]

I think everything in this world has the dark side so the cryptocurrency space is not exempted? so for me, it's common and usual and there's nothing we can do about it.

[robert20]

The dark side and the reason for which most of the countries do not make crypto legal is the use of cypto in dark web and many corrupted people send money from one country to another which is illegal. This is the most important reason why many people think Bitcoin is a bad thing.

[wxxyrqa]

The dark side and the reason for which most of the countries do not make crypto legal is the use of cypto in dark web and many corrupted people send money from one country to another which is illegal. This is the most important reason why many people think Bitcoin is a bad thing.

You are absolutely right, and that is why we have a choice, or we will subject Bitcoin and our proceeds to verification by the state and relevant structures in order to fight crime, or we will leave Bitcoin in the shadows. Although, in fact, little depends on each of us, and all the work will be done by the legislators of one or another state.

[Altcoin1998$]

Cryptocurrencies are the most important and popular phenomena in whole world. But cryptocurrencies have both side positive and negative. Most of the criminal activities occurring by cryptocurrencies, international smuggling and killing missions occurring by cryptocurrencies payments. Money laundering and vat free transactions easily occurring by cryptocurrencies payments.

[GREENch85]

Yesterday, I saw a post on Twitter from Chainalysis that the revenue of Darknet markets in 2020 exceeded last year's figure, reaching a new high of over $1.5 billion. Do not forget that this does not include December. The amounts are certainly impressive, some countries have less GDP.

[Jaguar]

I think cryptocurrency couldn't stop the illegal activities in that particular dark side area where almost against the law are in there.

If that place is anonymous, then I assume even higher political persons are possible in there. Maybe they execute to judge criminals not base in the law but there law as in the dark. The hidden place where the players involve are unnamed. We called it for a layman term underground place.

I hope they will do good things than bad things.