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Bitcoin, the world's first cryptocurrency, has grown in importance because of Silk Road, according to speculators and others in disagreement. A recent Chainbadysis study reveals that the daily transaction of Bitcoin on the darknet has increased significantly.
According to Chainbadysis reports, Bitcoin's transaction volume on the darknet was $ 700 million at the end of 2016 and fell to $ 700 in early 2018. The reduction in transaction volume is attributed closing large players. like AlphaBay and Hansa in mid-2017.
AlphaBay and Hansa were both darknet online markets operating on an on-line Tor network service. The two companies mentioned closed in July 2017.
In addition, Kim Grauer, senior economist at Chainbadysis, said the volume had begun to rise steadily after that. He also said:
"The reason for this decline is a greater enforcement activity," Grauer said. "It would be misleading to think that this year the volume will decrease."
Bitcoins are still used in darknet because the identity of their users remains anonymous. The volatility and price fluctuations of Bitcoin have deterred many users of the institutions from moving away from the situation.
In addition, Grauer continued:
"For someone who wants to buy something in a dark market, the fact that the price of bitcoin fluctuates does not really matter."
The report also states that darknet made $ 2 million worth of Bitcoin transactions a day, double the volume seen early in 2018.
In addition, 2019 could be a year in which the increase in darknet trading volume could decrease, according to Grauer, which could be due to the fact that regulators and law enforcement authorities are starting to the cryptocurrency market.
@RyanPafumi, a Twitter user, commented:
"Let's not forget that Chase paid $ 2 billion fine to settle the $ 76 billion laundered for Bernie Madoff.
A year later, the Deutsch Bank headquarters raided to strengthen money laundering in Panama and the Virgin Islands
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