Top Bitcoin Myths – #1: Bitcoin is a tool for criminals to purchase drugs, launder money, and finance terrorism
The following guest post is one of a series courtesy of Marco Streng, CEO and Co-founder of Genesis Mining.
Myth 1: Because Bitcoin is anonymous it is a tool for criminals to purchase drugs, launder money, and finance terrorism.
Since the first days of Bitcoin the press and other commentators (who should know better) have continually tied Bitcoin to criminal activities ranging from money laundering, to drug transactions to even terrorism. Yet for some reason buried deep in the criminal mind, criminals pounce of new technologies as tools for their nefarious activities faster than the general population. Consequently it should come as no surprise that criminals have been the first the exploit this novel technology. It has always been so.