Hacker News new | ask | show | jobs
by charlesetc 3422 days ago
> Using Bitcoin for cybercriminal activities is becoming increasingly commonplace, as tracing payments is much harder due to the way the cryptocurrency works

"Cryptocurrency" is a large set of currencies, each of which work differently. Also, Bitcoin is a public log. It's much easier to trace bitcoin than to trace cash.
2 comments
tom_mellior 3422 days ago
> "Cryptocurrency" is a large set of currencies, each of which work differently.

That's true, which is why the sentence you quoted said "the way THE cryptocurrency works", not "the way cryptocurrency works". The "the" is a back-reference to the particular cryptocurrency that is being discussed here (Bitcoin). This differentiates it from a general statement about all cryptocurrencies.

link
em3rgent0rdr 3422 days ago
>"[Bitcoin is] much easier to trace bitcoin than to trace cash."

not true if the traders are cautious with their IPs and use bitcoin laundering services so others can't infer from the transaction graph.

link