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Why Bitcoin Can Money Laundering (Why Bitcoin Can Make Money)

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Why Bitcoin can be laundered

Why Bitcoin can be laundered Editor’s note: This article is from Meng eyes Finance (ID: Meng eyes) and is authorized to be reprinted by Daily Planet Daily

Bitcoin has been one of the hottest technologies in the field of financial technology in the past decade. With more and more banks starting to use Cryptocurrency to launder money, this trend is accelerating. However, due to the anonymity of encryption technology and its decentralized nature, Bitcoin is still in a very early stage and has become an emerging industry. Why can Bitcoin launder money? Bitcoin eliminates fraudulent behavior by providing a transparent, secure, and traceable method of data; It also enables people to verify transactions and prove their true and effective sources, thus providing convenience for criminals – hence, Bitcoin is more likely to be used for money laundering as it is a fully legal and publicly visible network asset. Although there is no evidence to suggest the value of Bitcoin, most addresses on the Bitcoin network are controlled by individuals, making it difficult for them to determine their identity or access this information. Bitcoin differs from other digital payment methods in that they all have different characteristics and characteristics. Firstly, the information recorded on the blockchain is usually attached to a specific timestamp, which represents the ownership data of ownership transfer, rather than storing user data in a single ledger like traditional internet applications. Secondly, blockchain does not allow users to directly transmit information to third parties, nor does it accept messages sent to them by external institutions, and these processors often rely on the intervention of intermediaries. Finally, Bitcoin is a peer-to-peer Electronic cash system that can execute multiple transactions per second, rather than just receiving information from someone. In addition, everyone in the Bitcoin network can operate through smart contracts. However, some exchanges do not necessarily need to know what Bitcoin is, such as Coinbase, Coinsecurity and other platforms, but use similar tools so that customers can easily create, exchange and sell Cryptocurrency. In other words, when it comes to capital flow, only the trading parties can participate in this process. Bitcoin is not the main medium of illegal activities. In order to avoid hacker intrusion, many companies have been studying how to use various attack methods to protect their private keys from the use of malicious software. According to the research results of Chainalysis, more than 80% of criminals try to obtain Cryptocurrency as ransom, while only 10% want to buy and hold such tokens. Nevertheless, there are many things that are much more complex than this. For example, if someone steals one million BTCs, they may face danger. If this problem becomes more serious, then his Bitcoin will not be lost again. Once there are new threats and solutions, there will be many opportunities for theft, tax evasion, ransomware, and other types of attacks. The development history of Bitcoin technology tells us that Bitcoin has developed to a sufficiently high level, even far beyond the originally set security standards

Why can Bitcoin make money

According to CCN, can Bitcoin make money? The answer is yes. Because people became interested in the simplest things in the world and began to use them to earn money. If one day you have a dream of money, it is because you will believe that this technology can change our lives; If you have an idea and believe that you have mastered a large amount of wealth, then you should become a true investor, not a speculator. Why can Bitcoin still make money? Let’s take a look at the reasons why Bitcoin makes money.

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