Bitcoin: the future for personal finance or crime?

This statement flies in the face of conventional wisdom on cryptocurrencies. The blockchain, an online ledger for virtual currencies such as bitcoin (see graphic), has been at the centre of sensational headlines involving money launderers, illegal weapons sellers, drug dealers, paedophiles and criminal hackers.

These include the Silk Road online black market bazaar for drugs, weapons, stolen identity data and other illegal goods and the Liberty Reserve money laundering racket.

Rudolphi should know a thing or two about illicit financial flows. For the last few years his day job as an internet private detective has involved tracking down terrorists and other criminals through the Web. He is convinced that blockchain is more transparent, making it easier to track criminal activity than the traditional financial set-up.

“It’s true that there have been a couple of high profile cases,” he told “But could anyone tell me exactly who gave them the change that’s in in their pocket, who had it before

Read more ... source: TheBitcoinNews