YOU PSYCHOLOGICALLY MISS OUT, IF YOU THINK CRYPTO IS FOR CRIMINALS.
In my years of educating people on blockchain and cryptocurrencies, something stood out.
I am not saying this from a point of a few experiences.
I am talking from engagement with financial gurus and the locals on the street.
It will interest you that I led a group of young people in the street of Ikeja to onboard people to use bitcoin for transactions in their businesses in 2020 before Covid.
No doubt, Bitcoin is considered anonymous in nature by the average person.
Is this really the real situation of things?
My answer is a definite NO.
Funny how bad actors and some people think.
You can just download your wallet, send the money through it, and it cannot be tracked.
Like some will say, you can send to multiple wallets.
You can be tracked and arrested if you are a criminal.
In Bitcoin and other cryptocurrencies, there's something about its pseudonymous nature.
This could be explained like the superheroes we all know as Superman or Batman.
Yes, we know them by those names, but these names are disguises for their real names.
The personalities using the characters earlier mentioned have other names like every human does.
So, Bitcoin has its own names when it wants to do something.
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It uses a made-up name which is the public key to keep its identity secret.
This makes Bitcoin and other cryptocurrencies trackable by on-chain analytical companies like Chainalysis and others using software to know the movement of the assets and locations.
Illicit funds can be tracked.
About a day ago, the news of stablecoin issuer Tether freezing $225 million of illicit funds of USDT coin is in collaboration with OKX exchange and the DOJ.
The criminals are Southeast Asia syndicates responsible for a pig butchering scam.
This is one of the largest stablecoin freezes tracked by the US Department of Justice for months.
Exchange platforms that such funds must have gone through will have to report such accounts and give details to law enforcement agents.
I hope you now understand when I say crypto is not a tool used by criminals to hide their wealth.
I guess the narrative that crypto is for criminals is pure ignorance.
You can now understand when I say crypto can be tracked.
Good, good, good.
Talk to you later, but see you soon.
What do you think about this post?
#bitcoin #blockchain #cryptocurrency #web3 #market
Interesting read! Rume Ophi. The perception that crypto is solely for criminals is a common misconception. It's crucial to understand the broader implications of blockchain technology and its potential to revolutionize various industries. Thank you for sharing.
Co Founder at Back 2 Nature DW
1 年Hey Rume what's up. I read your article, it was very informative. Also people that say that Crypto is for criminals are biased against any new type of monetary system