Bitcoin: Good or Evil? Who is to blame for the label?
It’s easy these days to categorise something as “bad”. Find some influencer to say “this is bad” and many people will follow them blindly. It’s human nature: “monkey see, monkey do”, or as others would say, people are “sheep”. Just because the leader goes in one direction is enough for the rest to follow mindlessly. In this article, we will share our opinion about whether bitcoin and cryptocurrencies are potentially evil, or not.
Many of the seven billion people on earth don’t know that bitcoin exists. The people who do know of its existence are generally scared of bitcoin. It is pigeonholed as a bad place where bad things happen.
The dark web is a part of the internet that is not visible to search engines like Google. Browsing on the dark web is used to cover up illicit activity.
Protected by this anonymity bad people have ordered other people’s murders and ordered illegal drugs – most notably on Silk Road.
Using the dark web makes it hard for law enforcement agencies to track illegal behaviours. It didn’t take long for dark web users to discover bitcoins’ properties allowing them to transfer money from one part of the world to another – in an anonymous way.
We believe that bitcoin is not evil because it is used on the dark web. We say the humans who are using bitcoin as a means of payment to murder, traffic humans or enslave are evil.
Think about it and leave your opinion below.
Kidnapping and Terrorism
The news has reported on a startling number of kidnappings that are asking for bitcoin as a ransom, rather than the US Dollar or another fiat currency. In South Africa an AK 47 weapon was ordered on the dark web and was investigated by the relevant authorities.
A host of people blame bitcoin for allowing kidnappers, gangsters and terrorists to escape without being punished. But again, it’s not the coin’s fault that a crime took place.
The good news is that often using bitcoin allows a kidnapper to be traced by using the properties of bitcoin transactions that show every transaction and its history.
The Other Side of the (Bit)Coin
Many charities now accept a variety of bitcoin and altcoins to gather money for good. Bitcoin has been used to raise money to combat poverty and deforestation. Efforts for raising funds for conservation, like helping animals and wildlife, have been part of the good news.
There are many different types of charities accepting cryptocurrencies. iCE3 has been a part of a charity effort more than once:
There is a capacity for good in our hearts. Believe in it, embrace bitcoin and use it for good!
Paying bills and Rent
Some people are making a living by mining cryptocurrencies. They have invested huge amounts of money in mining rigs to start making money by mining coins and selling them. There are now many goods and services (including rentals) that are accepting cryptocurrencies as a form of payment.
Is Crypto Bad or are Humans?
Since the beginning of humanity, people have been in a power struggle. There is a fight between good and evil. The most powerful forces end up on top.
Bitcoin and cryptocurrency frighten many people because it ushers in a new era. An era where the power is now in the hands of people.
How people use power depends on them. Cryptocurrencies can be used for good or bad.
The verdict: humans have the capability for good or evil. Bitcoin is a powerful technology that depends on the good of people.
These are our thoughts and beliefs. We do not say that you should agree or not. You have your own vision and opinion and we respect that.
However, we want to know what you think. Leave a comment below and let’s talk about it.