Bitcoin Is No Paradise for Criminals

This brief article helps to clear up a common misconception about Bitcoin. Bitcoin is frequently portrayed as the chosen currency of crooks. There is no doubt that criminal activity has been associated with the Bitcoin ecosystem, but I would argue that cash is still king in the underworld. Jason Bloomberg writes in his recent Forbes article [1]: “Professional criminals’ number one requirement is a secure, anonymous way to move and store money, and Bitcoin fits the bill perfectly.” There’s a really big problem with that statement: it is simply and provably not true. It displays ignorance in how Bitcoin really works. In fact, Bitcoin is a potential nightmare for criminals. If they want to minimize getting caught, they’ll stick with

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Ripple vs. Bitcoin (security and privacy)

by Albert Szmigielski Fairness Bitcoin’s public ledger, the blockchain, allows any entity to check the transactions in the system. Furthermore, as long as 66.7% of the miners are honest no entity can change the history of transactions. Both of those properties ensure fairness. However in light of recent research into attacks on the Bitcoin network, several double-spending attacks have been identified. Such attacks negate the fairness property. Ripple has not been studied as extensively as Bitcoin. Ripple relies on ledgers that can be inspected. However, Ripple’s validating nodes are currently run and therefore controlled by Ripple labs, it seems that there are not sufficient incentives to run a Ripple validating node. Double spending attacks have not been identified in Ripple

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