The Bitcoin Value
Traditional currencies, such as the dollar or the euro, have value because they are backed by governments and the assets that a nation possesses. But beyond this money that they have forced us to use (we never had the opportunity to choose) there is supply and demand, an aspect that depends exclusively on people.
This implies that, the more people are willing to buy and / or sell "something" (such as Bitcoin), that "something" has an established value based on marketing volumes. The more people are interested in buying and the more scarce it is, the more value it will have.
Thanks to the fact that Bitcoin users are always buying and selling, then prices are always in green. In addition, Bitcoin has a certain number of units (21 million) to be issued, so it also has the quality of scarcity necessary to maintain a certain value as a currency.
Anonymous or Pseudonym?
Sometimes, Bitcoin is confused and described as anonymous, due to the fact that it is possible to send and receive bitcoins without giving personally identifiable information.
Bitcoin is a pseudonym, which implies that, instead of your name, your account is associated with a pseudonym; which, in this case, is an alphanumeric address.
Bitcoin addresses are "Nicknames"
No one will see your name in public. Those bitcoin addresses are not associated with a real name, email or physical address, but if they manage to associate your name with that particular address, then they will know your financial details. This means that, unless the user makes his identity public, the blockchain does not show who the accounts belong to.
Strictly speaking, Bitcoin is not anonymous, being possible at some point, to link a user's identity to a pseudonym.
This pseudonym is what is called your public key, that is, your Bitcoin address, an extensive chain of randomly generated numbers.
Bitcoin, currency for crime
Currently in my country Venezuela, is developing events that involve a modeling academy (Belankazar) with a supposed network of pedophilia.
Some pedophile networks sell pornography in exchange for bitcoin, using the privacy offered by this payment method against options such as Paypal. It is one of the many illegal uses that are given to cryptocurrencies and money in general.
This activity is staining the reputation of cryptocurrencies before public opinion and has served as a main argument to its detractors.
These despicable facts related to the Venezuelan modeling academy, where photos of girls on social networks have allegedly been sold in exchange for cryptocurrencies, again unleashed the controversy surrounding privacy or impunity granted by the use of cryptocurrencies such as Bitcoin.
Should the right to privacy be defended until the last instances or do we have to assume some responsibility for having it?
Most users find it impossible to place themselves fully on one side, since they enjoy the honeys of decentralization.
But, we must be aware of the power of pedophiles on the Internet and the harm they can do to a child.
In social networks, complaints proliferate with screenshots of Russian pages where the academy allegedly commercialized the photos. They also indicated inappropriate comments made by adult men to girls between the ages of 11 and 16 on the academy's Facebook.
Among the most controversial data, he highlighted the use of the Skrill, BTC, BCH, LTC and even ETH platform to process payments of videos and private photos.
Hope of Change
Cybersecurity startups like Chainalysis are dedicated to using blockchains like Bitcoin to prevent human trafficking or child abuse. The company, since 2016, has collaborated with foundations and government authorities to prevent criminals from covering up in Bitcoin. This is a use case that proves that the whereabouts of a content creator for pedophiles who accept payments in bitcoin can be found.
“Chainalysis Inc. became a member of the IWF on August 1, 2016. They support us in our goal of eliminating child sexual abuse online.”
Internet Watch Foundation (IWF)
According to this company, by July 2019, one billion dollars had already been used on the Deep Web to buy drugs, weapons or child pornography. The United Nations Organization (UN) also noted that the introduction of cryptocurrencies to the pedophilia market complicates police work. Bitcoin continues to offer more privacy for pedophile networks than bank transfers, Paypal or credit cards.
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