The Dark Side of Bitcoin: Illegal Activities, Fraud, and Bitcoin
In mid-May, countless people across the world were attacked by a malware program that locked their computers and demanded money to unlock, in an attack dubbed WannaCry. The attackers received thousands of dollars in the form of Bitcoin. Bitcoin is anonymous and easy, which means its a favorite among criminals. Just how is Bitcoin used by criminals, how can you protect yourself from some Bitcoin scammers, and should Bitcoin face higher regulation to prevent criminals from being able to use the cryptocurrency? This article shall delve into the dark side of Bitcoin, and look at some of the negative aspects that present themselves.
On May 12 the WannaCry attack started in Europe. Using a malware software that exploited flaws in Windows security that was leaked from the NSA, the malware spread like wildfire, especially on May 15. Soon after the large spread on the 15th, a web researcher was able to drastically slow the attacks by discovering a kill switch. The malware locked a user out of their computer and demanded money payable in Bitcoin in order to unlock. Despite the quickness in slowing the attack, the attackers received thousands of dollars in Bitcoin.
The attack sparked renewed media interest in Bitcoin, arguably which helped spark the massive increase in price as I outline in a previous article, but it also caused many to question whether Bitcoin is too easy for criminals to use to receive their ill-gotten gains. An example of this is a strongly worded letter in Financial Times. The author argues that states work hard to limit illegal activity with state backed money, such as the EU outlawing 500 Euro bills, but do nothing to stop Bitcoin. She argues that Bitcoin and other cryptocurrencies have only allowed crime to grow, and have produced nothing else productive.
GROWTH equals HAPPINESS & HAPPINESS equals GROWTH.
I heard a wise man say ITS OKAY TO WANT MORE.
It’s OK to not be satisfied or content. A lot of us grew up with family telling us, “Just be happy with what you have. You don’t need those things. Just be happy.” Why? Why is it a bad thing to go for more, more money, more experiences, a higher quality of life? 3% of the population own 98% of all the investments, property, & wealth.
The other 97% make up excuses and reasons (which are the same) to why they didn’t make it. Listen, if psychologically we as humans become happier when we’re growing then we need to constantly work on ourselves and get better.
The desire for more is a normal human experience and thought process, don’t let others try to suppress and bury it under the dirt. Just because other people in your environment are under achievers doesn’t mean you have to be. The twisted person who fell short on their goals reads this and says, “Mr Paul is all about the money. He’s materialistic, etc, etc.” The person going for it says, “HE IS RIGHT, this makes sense.” I’m not materialistic I just like nice things. And I work extra hard to get them.
People who make excuses and complain and think who’s in office is going to change their economic outcome will always point the finger to somebody or somewhere else.
Once you take personal responsibility for your life you’ll make decisions to change it.
WE are 100% responsible for our results through the constant manifestation of our thoughts, feelings, & actions. When we grow we are happy. When we are happy, we are growing. GROWTH is important to a high quality of life. World Class or nothing.