Why BitCoins are so popular in the Deep web?

Bitcoin Questions and AnswersCategory: General questionsWhy BitCoins are so popular in the Deep web?
Giorgio asked 3 months ago

Hello!

I never entered the Deep Web (since I don’t want to view the worst part of humanity), but I’ve seen a lot of charity stuff based on the blockchain and on cryptocurrencies.

So, seen that many of the transactions are publicly stored, how did that happen? Why bitcoins have faced the bad market of the Deep web?

Thank you in advance :)

1 Answers
Ofir Beigel Staff answered 3 months ago

Hey Giorgio,
the reason Bitcoin has gained so much popularity in the dark web is because of its pseudonymous¬†nature which makes transactions hard to track back to their owner. That’s why a lot of criminals prefer this form of currency. Of course anonymity is not the only trait of Bitcoin, that’s why a lot of legit users have adopted it as well.

Ofir Beigel Staff replied 3 months ago

I’ve heard about Monero although I didn’t do a complete drill down yet. I think Bitcoin has a 7 year track record that Monero will need to beat and that’ not easy. There have been so many hypes about different altcoins in the past years that I don’t pay attention that much whenever a new coins arrises until it gains significant market cap.
So while Monero can be a competitor at the moment it’s not in the same league.

Giorgio replied 3 months ago

Got it. And do you think that this will stop now that Monero is coming in the market?

Monero is anonymus and you can’t track the transactions. It’s already been used for drug dispatch and so on (well, that doesn’t surprise me at all).

Let me know!

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