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RE: Is Crypto a Secret Plot to Destroy Privacy?

in #threespeak5 years ago

One thing to add about Bitcoin and those committing illegal acts getting caught because of using it. An acquaintance of mine had another acquaintance who sold a lot drugs before he was caught and convicted a couple of years ago. The drug dealer is in IT. He sold the drugs on the dark net and imported them using his parents' sailboat without their knowledge. His customers used to pay for the drugs in Bitcoin. I met my acquaintance last spring and we discussed the case. According to him, his drug dealing acquaintance was caught because one of his customers had died which had triggered an immediate investigation. What led to the drug dealer's capture were his social connections. People had an idea who he had been buying drugs from. He wasn't caught because his Bitcoin transfers had been analysed leading to his identity being discovered. That said, Bitcoin is not a very good choice for a cryptocurrency to be used in anything illegal. I don't think without knowing exactly what one is doing any of them, not necessarily even the privacy coins, are foolproof.

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