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Ransomware isn't the only illegal activity that's greatly enabled by bitcoin. For better or worse, it has enabled stable online marketplaces that allowed one to
by akiselev 5y ago
Ransomware isn't the only illegal activity that's greatly enabled by bitcoin. For better or worse, it has enabled stable online marketplaces that allowed one to buy safer/purer drugs, heavy weaponry, assassins, and false passports with less exposure and risk. That used to be the stuff of spy movies - now it's available to anyone who understands how to navigate the web enough to figure out onion addresses or FreeNet. IIUC it has even enabled new methods for money laundering with unique advantages and allowed nations to evade global sanctions with near impunity instead of having to rely on foreign powers to help.
I don't wish to speculate whether the effect on each of those niches is net positive or negative, but it's hard to argue that the real problem is cybersecurity when cryptocurrencies have had such significant effects on other fields for the same reasons that it's useful to ransomware operators. Yes, cybersecurity is a real problem, but that doesn't preclude cryptocurrencies from being a real problem either, nor does it preclude the former from sparking action against the latter - the world operates in parallel and we can tackle multiple problems (which means yes, cryptocurrencies will almost certainly be used as a distraction).