The next article went on to state; “Tokyo-based Mt. Gox, after among the biggest exchanges of the bitcoin cybercurrency, ceased working Tuesday amid rumors that countless might have been stolen in the company and rising concerns regarding the long-term prospects to its unregulated digital money. Other bitcoin exchanges quickly moved to distance themselves in Mt. Gox and claim that they were still available for business. The worth of the currency itself fell sharply to just over $500 by mid-afternoon. It struck an all-time high of $1,100 in November.”
Although cryptocurrency wasn’t widely accepted, it slowly gained its momentum and today, a number of different businesses even accept it as a form of payment or exchange. The very same thing is slowly happening to new crypto currencies. Although the profits are not guaranteed and the applications running them is open minded, many still attempt to vie to obtain these currencies as a different means of investment.
Another article was written by Naette Byrnes the afternoon following those findings hit the newswires on February 25, 2014 “Bitcoin about the Hot Seat – A significant bitcoin exchange shuts down, raising questions regarding the cybercurrency.” Are you amazed? No, me either.
Now then, what’s the latest you inquire? Well, there are two articles I read not more than an hour after this meeting, because I was cruising through the advice, I had previously saved to compose on this subject later; Marginally Useful – Bitcoin itself may fail as a money, but the underlying technology is starting to suggest precious new applications,” by Paul Ford (February 18, 2014) and mind you this article was written just days ahead of the Bitcoin theft from one of their top exchanges.
The internet is part of society and is shaped by culture. And until society is a crime-free zone, the Internet won’t be a crime-free zone.
The high level of anonymity in there means that it’s very tough to trace transactions. It’s not totally impossible, but it’s impractical in most cases. So crime with cryptocurrency– since you have quick, borderless transactions, and you’ve got a high level of anonymity, it in theory produces a system that’s ripe for exploitation. In many cases when it’s a crime online with internet payment systems, then they are inclined to go to the authorities and, say, we can hand over this payment info or we can stop these transactions and undo them. And none of this can happen with Bitcoin, therefore it makes it ripe for criminals, in theory. As you can plainly see, what you will discover about http://criptorobot.mx is some points are far more important than others. Do take a close look at what you require, and then make a determination concerning how much different things apply to you. Of course there is quite a lot more to be learned. The balance of this read contains much more that will help your particular situation. We think you will find them highly relevant to your overall goals, plus there is even more.
So, it is a catch-22 for your government, authorities, and enforcement people, and they cannot look another way or deny that this trend any longer. Could it be time for regulations. Well, I personally hate regulation, but isn’t this how it usually starts. Once it is controlled credibility is given to the notion, but his electronic currency concept could also undermine the whole One World Currency plan or perhaps the US Dollar (Petro-Dollar) paradigm, and there could be hell to pay for that as well. Can the international economy handle that degree of disturbance? Stay tuned, I guess we will see.
Increasingly more people are opening their minds to the existence and stability of these platforms and many are craving to break away from the scrutinizing eyes of the governing bodies involved with the storage and exchange of their assets. The future might appear dim this day but as more creative minds work together to make more convenience in how fund and what monetary is handled. Who knows maybe one day even fiat money can disappear for good.
Let us say there was hanky-panky involved, let’s say someone hacked the system or stole the digital money. Right now, digital currency flies under the radar since it is not recognized even with all of the new Too Big To Fail regulations on banks, etc.. How can a digital money have worth? Hard to say, how can a fancily printed piece of paper marked $20 be worth anything, it’s not, but it’s worth what it represents if most of us agree to that and have trust in the currency. What’s the difference, it’s an issue of trust right?
So the next question that I’d like to investigate as well is looking at the scale of the issue of offense with cryptocurrency. Therefore by generating a log of known scams and thefts and things like that, we can then cross reference that with the people transaction log of all transactions and determine exactly how much of these transactions are actually criminal and illegal. So my final question would be, to what extent does the technology itself actually facilitate crime? By looking back in the crime logs, we can see which particular forms of offense happen, and if it’s actually the tech’s fault, or is that just the exact same old crimes that we have been looking at before. And once we have consider these things, we can start to consider possible solutions to the problem of crime with Bitcoin.
Cryptocurrencies and the application of blockchain technologies are still in the infant stages when considered in financial terms. More applications may emerge in the future as there is not any telling what else will be invented. The near future of transacting on shares, bonds and other types of financial assets might well be traded using the cryptocurrency and blockchain technology later on.