Most people using bitcoins are law abiding citizens, but since bitcoin is deemed to allow its users to be anonymous, then there are certain bad guys who takes advantage.
It is exactly because of this which is why some people have concluded that the use of bitcoin is illegal, that the use of bitcoin leads to trouble. If you come to think about it. There are really loads of people who think that the whole bitcoin thing is a scam.
Satoshi Nakamoto created bitcoin for a good reason. He wanted to create an open financial system for anyone to access all around the world. He wanted to free the world from the holds of people who tends to monopolize money. He wanted a system where everyone rich or poor can benefit from money. He succeeded in his invention.
However, there were some people who took advantage of his technology. Ever since word came out that bitcoin allows people to make transactions privately, then people started getting the idea that they can use bitcoin for their evil activities.
So, Can People Really Get Away With Doing Illegal Activities Through Bitcoin?
Criminals cannot get away with their crimes through bitcoin. First of all, if bitcoin is really as private as people say it is then there will be no way for anyone to find out that someone has committed crypto criminalities.
The fact that you are here aware and cryptic about all the criminal activities that happens in the world of cryptocurrency is mere proof that bitcoin is not that private, and that it does not let other people from getting away with their crimes.
It’s true. When you transact through bitcoin or any other type of cryptocurrency, you don’t have to supply basic information such as your name, card number, and other stuff like that. However, the bitcoin database still has access to records of confirmed transactions. So, even though the database does not record the identities of the users, people can still track you if they want to. They can do that through the IP address that is now stored in the database the moment you confirmed the transaction.