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#4 The dark side of crypto: Is crypto the currency of criminals?

#4 The dark side of crypto: Is crypto the currency of criminals?

Released Tuesday, 25th May 2021
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#4 The dark side of crypto: Is crypto the currency of criminals?

#4 The dark side of crypto: Is crypto the currency of criminals?

#4 The dark side of crypto: Is crypto the currency of criminals?

#4 The dark side of crypto: Is crypto the currency of criminals?

Tuesday, 25th May 2021
Good episode? Give it some love!
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Nam and Sean discuss briefly the history of Bitcoin, and how criminals are utilizing this technology to their advantage. Sean refers to the Conspiracy podcast about some of the incidents that happened in the past where bad guys hack the system and utilize crypto for untraceable ransom. Even though it's a bad reputation for the crypto community, Nam thinks that early adopters will most likely be people who try to break the law since early technology is hard to be regNam and Sean briefly discuss the history of Bitcoin and how cit was created to offer a decentralized currency but is also used by criminal organizations to move money without a trace. Sean talks about some specific incidents that occurred in the past such as the 2020 UCSF Hospital ransomware attack. Even though these events shed poor light on the crypto community, Nam thinks that early adopters will most likely be people who try to break the law since early stage technology is hard to regulate. However, in the long run, blockchain technology can reduce the chance of a hack occurring in the first place. What do you think? Will crypto be used safely by the mainstream or will it be the currency of criminals? Check it out in the podcast!ulated, however, in the long run, blockchain technology will be able to reduce the chance of a system to hack or manipulate by criminals in the first place. What do you think? will crypto be used by the mainstream or it will mainly be used by criminals? Check it out in the podcast.Link to the Conspiracy Theories podcast: https://open.spotify.com/episode/1Me3K41kmTyCMI15mVXf8H?si=yGQK5G0XSi2hkGgidDUpZQ&nd=1China has rate: https://www.statista.com/statistics/1200477/bitcoin-mining-by-country/

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