What are cryptocurrencies and Bitcoin?

The network is a part of society and is shaped by society. Moreover, unless society becomes a crime-free zone, the Internet will not become a crime-free zone.

So what is cryptocurrency? Cryptocurrency is a decentralized payment system that basically allows people to send money to each other over the network without the need for trusted third parties such as banks or financial institutions. The transaction price is cheap, and in many cases it is free. Moreover, the payment is pseudo-anonymous.

In addition, its main feature is that it is completely decentralized, which means that there is no single central authority or similar authority. Everyone can do this by having a complete copy of all transactions that have ever happened in Bitcoin. This creates an incredibly resilient network, which means that no one can change or revoke or supervise any transaction.
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The high level of anonymity there means that it is difficult to track transactions. This is not completely impossible, but it is impractical in most cases. Therefore, use cryptocurrency to commit crimes-because you conduct fast, borderless transactions and have a high degree of anonymity, it theoretically creates a mature system that can be exploited. Therefore, in most cases, when using online payment systems to commit online crimes, they tend to go to the authorities, for example, we can hand over the payment information, or we can stop these transactions and cancel these transactions. Nothing can happen with Bitcoin, so theoretically, it matures criminals.
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In light of this, many different institutions are studying Bitcoin and studying Bitcoin, trying to understand how it works and what measures they can take to regulate it. It has appeared in the media several times, and the media as a media likes to pay attention to its disadvantages. Therefore, they attach great importance to the crimes related to it. Therefore, if something like theft or fraud occurs, they tend to blame Bitcoin and Bitcoin users.
Therefore, the most eye-catching is probably the Silk Road, which was recently demolished and paid for everything from drugs to guns to fighting humans through Bitcoin worth 1.2 billion US dollars. . Again, the media quickly blamed Bitcoin for this and said it was the fault of Bitcoin users.
But in fact there is little evidence of the scale of the cryptocurrency crime problem. We don’t know if there are many things, or we don’t know if there are many things. But despite this, people quickly marked it as a crime and forgot about legitimate uses such as fast payment.
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So some of the questions I am researching in this field are what is Bitcoin crime like? Therefore, many people would say that fraud and theft have existed for a long time. But the way they happen changes with technology. Therefore, what Victorian street crooks would actually do is very different from the 419 Nigerian prince crooks.
Therefore, the next issue I will study is the scale of the cryptocurrency crime problem. Therefore, by generating a log of known fraud and theft and similar situations, we can cross-reference it with the public transaction log of all transactions and see how many transactions are actually illegal and criminal. So my last question is, to what extent does the technology itself contribute to crime? By looking at the criminal record, we can understand what specific types of crimes have occurred, and whether this is actually a technical fault, or the same old crime as we studied before. Once these issues are considered, we can begin to consider possible solutions to the crime problem using Bitcoin.
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We can think that the only suitable solution is one that preserves the potential value of the technology itself, that is, privacy and decentralization. The focus of media attention is on crime. Moreover, they don’t bring enough value for legal use, because Bitcoin is a technology that enables fast payments, which is very useful for people who have ever paid for anything online.
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