Why do criminals still use Bitcoin when it can be traced?

6 answers

• Dec 16, 2021 · 3 years ago
  Well, criminals are always looking for ways to stay one step ahead of the law. While it's true that Bitcoin transactions can be traced, there are still ways for criminals to obfuscate their tracks. They can use mixing services or tumblers to make their transactions more difficult to trace. Additionally, they can use multiple wallets and addresses to further complicate the process. So, even though Bitcoin can be traced, it's not foolproof, and criminals are willing to take the risk.
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• Dec 16, 2021 · 3 years ago
  You know, criminals have been using cash for centuries, and it's not exactly untraceable either. Bitcoin offers some advantages over cash when it comes to anonymity. With cash, you have to physically hand it over, leaving behind potential evidence. With Bitcoin, you can make transactions online, which can be harder to track. Plus, Bitcoin can be used internationally, making it attractive for criminals involved in cross-border activities.
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• Dec 16, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that Bitcoin is not the only option for criminals. There are other cryptocurrencies that offer better privacy features, such as Monero or Zcash. However, Bitcoin is still the most widely accepted and recognized cryptocurrency, which makes it more convenient for criminals to use. It's like why some people still use outdated technology even though there are better alternatives available.
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• Dec 16, 2021 · 3 years ago
  Let's face it, criminals aren't always the brightest bunch. While Bitcoin transactions can be traced, many criminals simply don't have the technical knowledge or resources to effectively cover their tracks. They may not be aware of the tools and techniques available to them to enhance their privacy. So, it's not that criminals specifically choose Bitcoin because it can be traced, but rather because it's the most well-known and easily accessible cryptocurrency.
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• Dec 16, 2021 · 3 years ago
  While it's true that Bitcoin transactions are recorded on a public ledger called the blockchain, it doesn't necessarily mean that every transaction can be linked to a specific individual. Bitcoin addresses are pseudonymous, meaning they don't directly reveal the identity of the user. This makes it challenging for law enforcement agencies to connect Bitcoin transactions to real-world identities. So, criminals still use Bitcoin because they believe they can maintain a certain level of anonymity.
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• Dec 16, 2021 · 3 years ago
  As an industry insider, I can tell you that the majority of cryptocurrency transactions are legitimate and used for legal purposes. It's unfair to paint all Bitcoin users as criminals just because some choose to use it for illicit activities. The technology behind Bitcoin has the potential to revolutionize finance and empower individuals around the world. Let's focus on the positive aspects and continue to work towards creating a safe and secure cryptocurrency ecosystem.
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