Cryptocurrency Q&A
Is Bitcoin's Price supported by illegal transactions?
Is Bitcoin's Price supported by illegal transactions?
SamuraiWarriorSoul
Wed Jul 10 2024
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5 answers
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Could you elaborate on the possible link between Bitcoin's price fluctuations and illegal transactions? Some argue that the rise of Bitcoin and other cryptocurrencies is fueled by illicit activities such as drug trafficking, money laundering, and tax evasion. What evidence is there to support or refute this claim? Is there a significant portion of Bitcoin's trading volume attributed to these illegal transactions, and if so, how might this impact the overall stability and credibility of the cryptocurrency market? Understanding the true nature of Bitcoin's price movements is crucial for investors and regulators alike.
5 answers
Tommaso
Fri Jul 12 2024
This revelation suggests that the vast majority of Bitcoin transactions are legitimate and unrelated to criminal activities.
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Ilaria
Fri Jul 12 2024
Nevertheless, Schoar acknowledges that the presence of any illegal activity, albeit minor, is still a concern.
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Valentino
Fri Jul 12 2024
He emphasizes that while the percentage is low, it does not negate the significance of addressing such issues within the cryptocurrency ecosystem.
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Chiara
Fri Jul 12 2024
Despite widespread concerns that Bitcoin's value is primarily sustained by illicit transactions, Schoar provides a reassuring perspective.
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AltcoinExplorer
Fri Jul 12 2024
According to Schoar's assessment, illegal activity within the Bitcoin blockchain comprises only a minor fraction, estimated to be approximately 3% of the total transactions.
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