All Facts and Figure of Cryptocurrency is Clear as Real
BY READERS DIGEST
22nd Jun 2020 Managing your Money
Many people look up to the bitcoins as a black currency or black market which is probably due to the lack of an understanding of the concept of it. The only market where the bitcoins are largely accepted with all dignity is the darknet. Here everything was available for sale and with complete anonymity.
Before we discuss further the facts of bitcoin, let us tell you that the Bitcoin lifestyle will give you some more details about bitcoins facts. While let us tell you what does dark web actually means and what is it famous amongst the users. The advantage of an anonymous web browser like the darknet will help you to hide your identity. Likewise, a bitcoin exchange in the darknet will also help you to keep your transaction history hidden among all.
Are All Bitcoin Activities Illegal?
Since there are masses of people who believe in the fact that bitcoin is illegal, it is very important to make them understand that the reality is different. While you may be sure that all bitcoins deal with illegal activities but here are some facts check for you.
It is not as much anonymous as much you think it to be, while darknet is much more anonymous, while bitcoin is nowhere near to what the darknet stands with respect to anonymity. Blockchain keeps the bitcoins safe and enclosed for use and saving.
There is no other physical record that would connect the people with their wallets apart from the blockchain. It only keeps the code of the sander’s address and the code of the receiver’s address in the blockchain. While blockchain keeps all identity of the coin holder as anonymous as possible and it never reveals the name of the coin holder. You must be aware that your address is only visible when the transaction on the bitcoins in and out happens.
However, the government and law of many countries have been able to trace this utility and the heads behind the anonymous darknet but since it is one of the largest platforms so filtering out everyone had not been possible. So many of the bitcoins from the darknet was seized and taken by the government and later on, they were auctioned and given to the bidders. While seizing the coins from the darknet and while tracking and tracing the address from which they were sent, it was found that the people who exchanged them were dealers in the darknet.
Is it Really Anonymous?
From whatever we have just told above, we hope that it is much clear that the darknet is not as anonymous as we consider it to be. It is possible to trace everything down only when exposed to highly expert professionals. You have very well understood that with extreme preciseness you will be able to trace down the anonymous users of the darknet. The addresses that are available in the darknet for the bitcoin transactions made have been dissected and found out that they are fake addresses used in the name of the FBI.
Conclusion
It is raw and wrong maybe but the reality is that the dark web net needs bitcoins to thrive and exist while the bitcoins need the dark web net to exist. They are mutually dependent on each other and this factor can’t be changed ever. Bitcoins are decentralized while the dark web can be anonymous but it is not easy to make it decentralized. A bitcoin loss can be treated as a total loss from the system but a fault in the dark web net can be stripped down and brought down to the minimum. To know more about cryptocurrency you can visit Bitcoin Loophole
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