Avoid the Dark Side of Cryptocurrency
Somewhat anonymous cash that flows across national borders and outside global financial systems and accountability? What could go wrong! As you might imagine, a lot.
In this chapter, I explain three common risks you may face through normal use of cryptocurrency.
Lack of Anonymity
Bitcoin and other digital coinage shares the notion of anonymity with cold, hard cash—with the same actuality that transactions may be traceable. It’s more accurate to say that cryptocurrencies offer pseudonymity, or an obscured identity that’s consistent over transactions, than true anonymity, which would allow someone’s identity in each transaction to remain uncorrelated to another other transaction.
With physical cash, authorities ...
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