The other side of the coin. Bitcoin was celebrated as a way to free consumers from greedy and corrupt Banksters. But Bitcoin is being used to pay for acts of evil against the innocent, and other illegal transactions.
DAILY MAIL - Disturbing new internet child abuse sees toddlers raped and burned live on webcam as paedophiles use Bitcoin to stop being traced, warns police chief.
He said: 'The level of depravity seems to be descending year on year, frankly, including what seems to be in vogue now, which is live webcam 'shows' of toddlers not just being raped but being burnt with cigarettes. Mr Wainwright warned that Bitcoin - a 'crypto-currency' based on mathematical formulae and independent of any government or central bank - is propping up a criminal black market.
Mr Wainwright warned that the principle that everyone's online activity should be anonymous by default needs to be challenged in order to police the internet effectively.
He criticised the sluggish response from the police, politicians and big businesses, saying that equivalent levels of crime in the physical world would be 'front page news.' He told The Times: 'It is frustrating that we are not getting the message out, at least not loud enough for legislators to hear it.'
The Internet Watch Foundation pressure group has recently claimed to have found evidence of an email scam directing people to underground websites where the sick 'shows' could be seen in exchange for Bitcoin.
Source
NOTE:
Mr Wainwright complains of the "sluggish response from the police, politicians and big businesses". Could it be that some people in power and their friends are making fortunes with this alternative currency and don't want to it to stop the flow of profits - regardless of its costs to human lives and society?
That's pretty much the same way why the ruling elite does not want to legalize street drugs. Banks are reaping a fortune from drug trade money laundering.
RELATED
ESQUIRE MAGAZINE - Bitcoin Wound Up Being Just As Broken as the Corrupt Banking System It Was Trying to Kill
March 2014 - Whistleblower threatens to expose corruption at Bitcoin Foundation.
Bitcoin is basically for criminals
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Who profits from the drug trade? The big banks.
Banks allow drug cartels to launder money, and help move huge amounts of money to terrorists
http://www.nytimes.com/2013/01/03/opinion/how-bankers-help-drug-traffickers-and-terrorists.html?_r=0
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