Criminals are dropping bitcoin in favor of other digital currencies that are harder for law enforcement to use in tracking activities in an anonymous corner of the internet known as the dark web, analysts said.
Although hard numbers on criminal activity in digital currencies are difficult to pin down, Shone Anstey, co-founder and president of Blockchain Intelligence Group, estimates that illegal transactions in bitcoin have fallen from about half of total volume to about 20 percent last year.
"Now it's significantly less than that," he told CNBC earlier this month, noting that overall transaction volume has grown globally.
A U.S. Homeland Security official confirmed to CNBC in a phone interview on Thursday that criminals are "looking more closely at other currencies like monero and ethereum."
Full story at http://cnb.cx/2wJKKjp
Source: CNBC
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PIVX might become a favorite too
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Upvoted commented and followed! Bringing Drone Racing to Steemit! Check out the history of our events through race and crash videos! https://steemit.com/sports/@cbudd75/the-evolution-of-microfpv-racing-drone-racing-videos-day-1-till-now
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Interesting stats!
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PAY. Your. Extortion. Taxes.
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Resteemed
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Thanks for sharing!
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Have they figured out how to trace bitcoin now?
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Yes there are ways that bitcoins can be traced.
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GOOD!!!
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Very interesting article. So much for the MSM mantra that Bitcoin is for illegal activities and a haven for those who are committing crimes. Of course these people overlook the fact that more crimes have been committed using the USD than the entire market cap of cryptcurrencies.
What is also ironic is that bitcoin is actually something law enforcement can track.
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Criminals everywhere!
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Upvoted commented and followed! Bringing Drone Racing to Steemit! Check out the history of our events through race and crash videos! https://steemit.com/sports/@cbudd75/the-evolution-of-microfpv-racing-drone-racing-videos-day-1-till-now
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One way or another those wishing to twist the system will..
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Upvoted! :)
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Monero is booming and it is completely anonymous.
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The privacy coins will certainly profit from that, but not only criminals should watch for alternatives. Monero and others bring valuable benefits for everybody.
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governments and banks are the bigger criminals.. do something about how they keep increasing loan interest and lowering saving interest and needless to mention how they keep increasing tax and daily need utility such as water electricity gas petrol etc which everyone needs to survive..
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