Headline, February 11 2019/ '' ' BITCOIN'S THRIVING BITUMEN ' ''



THE STUDENTS ECONOMY : And The World Students Society :

One of the most advance research in the world, on cryptocurrency, is the honor of Ziili, Juniper and  nine other global researchers. To freshen memories all, !WOW!'s crypto is named : ''LARKS LIGHT''.

BITCOIN AFICIONADOS NOW BELIEVE the cryptocurrency is more useful as a new kind of alternative asset, like Gold.

Many people on the Wall Street have bought into that idea, and the Chicago Mercantile Exchange and the owner of the New York Stock Exchange both allow traders to buy and sell derivatives based on Bitcoin, Trading, however has been tepid.

The last few months have not been good for Bitcoin. The value of the digital tokens has steadily dropped. Bitcoin trading on cryptocurrency exchanges has slowed. And using Bitcoin to buy legal items? That has also dropped.

''But one corner of the Bitcoin economy is still going strong : the sale of illegal drugs and other types of lawbreaking.''

The amount of cryptocurrency spent on so-called dark net markets, where stolen credit card information and a wide array of illegal drugs can be purchased with Bitcoin, rose 60 percent to reach a new high of $601 million in the last three months of 2019, according to data released last Tuesday by Chainalysis, a firm that tracks every Bitcoin transaction and serves as an adviser to government authorities.

The continuing growth of illegal transactions underscores the difficulties that Bitcoin has had moving past its reputation as a refuge for scoundrels, even as Wall Street institutions have begun buying and selling the digital tokens.

The enduring success of Bitcoin fueled illegal activity also points to the struggles that the authorities have faced in containing the new kinds of bad behaviour that cryptocurrencies have helped enable.

Bitcoin played a crucial role in the recent growth of so-called ransomware attacks, in which hackers steal or encrypt computer files and refuse to give them back unless a Bitcoin payment is made.

Bitcoin is still popular among currency regulators, and illicit activity accounts for only 1 percent of all Bitcoin transactions.
But that nearly doubled from the previous year, illegal activity appeared to be one of the few parts of the Bitcoin economy impervious to changes in price according to Chainalysis's new Crypto Crime Report.

Chainalysis's data is likely to understate the number of Bitcoin transactions going to illegal purposes because the company cannot identify some of the activity dedicated to ransomware, tax evasion and money laundering.

It is widely assumed that some of the people buying Bitcoin on legitimate trading exchanges are doing so to skirt national laws.

The rise in black market sales is particularly notable in 2019 because the global authorities took down two of the biggest illegal online markets. New markets quickly filled the void.

The illicit activity is ''pervasive'' on the dark net, said Calvin Shivers, the assistant director of the  F.B.I's  criminal investigative division, but he added that the F.B.I. remained  ''undeterred'  and was ''surging resources''  to tackle the problem.

In addition to the online black markets the, the authorities have been aggressively targeting cryptocurrency schemes. But the amount of going into fraudulent activity still hit a new high.

Fraudsters more than tripled their take from the year before, grabbing $ 3.5 billion from millions of victims in 2019, the Chainalysis data shows.

The Honor and Serving of the Latest Global Operational Research on Cryptocurrencies and the  Students Economy, continues. The World Students Society thanks author Nathaniel Popper.'

With respectful dedication to the Economists, Students, Professors and Teachers of world.

See Ya all prepare and register for Great Global Elections on The World Students Society : wssciw.blogspot.com and Twitter - !E-WOW! - The Ecosystem 2011:

''' Dark & Damp '''

Good Night and God Bless

SAM Daily Times - the Voice of the Voiceless


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