The bitcoin Hodlers, ICO hustlers, and Lambo-owning crypto millionaires would love you to know that the cryptocurrency revolution is upon us. Earlier than lengthy you’ll be making breakfast on the blockchain! However because the trustless, decentralized world of digital tokens expands—and Fortune 500 corporations, banks, restaurant chains, and even international locations (ahem, Venezuela) cautiously wade in—a credibility drawback persists. Silk Highway and AlphaBay could also be gone, however that hasn’t stopped fraudsters, gamblers, intercourse staff, and drug sellers from cashing in.
Escorts, cam ladies, and different intercourse staff now converse fluent crypto. (See: r/GirlsGoneBitcoin.) At a membership in Las Vegas, strippers settle for suggestions in bitcoin, whereas PinkDate—the “Tinder of escorting”—claims it offered 40 million tokens in a latest coin providing.
Unlawful on-line betting is way simpler when cash transfers will be made swiftly and untraceably. (No extra payouts postmarked from shady banks in different international locations!) Besides now your crypto winnings may fluctuate together with the risky market.
Hashish startups comparable to Paragon and BudBo use blockchain tech to make it simpler and safer for suppliers to trace their shipments. In the meantime, on the darkish internet, traffickers of more durable medication are drawn to bitcoin’s perceived anonymity.
Anybody can hype the following bitcoin—together with pump-and-dump teams. Coordinating on non-public messaging companies, they choose a random token, promote the heck out of it anyplace they will, after which promote on the high, screwing gullible buyers.
In fact a northern Ohio fake-ID manufacturing ring working on Reddit would like to transact in bitcoin. Solely rubes use Venmo! The Feds seized $5.1 million value of the forex from the alleged masterminds, who have been indicted in February.
It’s arduous on the market for ostentatious bitcoin tycoons, what with crypto robbers kidnapping them and demanding—at gunpoint—entry to their digital wallets. Sure, this occurs, and it’s one purpose extra of them are hiring bodyguards.
This text seems within the June situation. Subscribe now.