Connect with us

Bitcoin

Bitcoin [BTC]’s blockchain is allegedly accused – links to child porno found!

Vinod KA

Published

on

Bitcoin [BTC]'s blockchain goes dirty - links to child porno found!
Source: Pixabay

Bitcoin has been allegedly accused of carrying out many illegal activities. It was notoriously used for money laundering during the time of demonetization in India. Many people converted their black money into Bitcoins. Now a new illegality has sprung up regarding Bitcoins blockchain. Apparently, it provides links to child pornography. Some of the German researchers are of the opinion that this can seriously deter the development of technology associated with Bitcoin.

Bitcoin is undoubtedly the biggest name among cryptocurrencies and it is so because of its immutable blockchain. But, apart from the ‘normal’ messages which might include comments about famous personalities, Bitcoin’s blockchain appears to be filled with illicit content like child pornography. People who download the blockchain are actually inadvertently downloading hundreds of links to child pornography as well.

Being a decentralized platform, it may become very rigorous to regulate the content that is present in their network. Usually, the blockchain includes information regarding transactions and serves as a ledger, it also allows certain ‘coded messages’ to be incorporated into it.

This trend was actually set in motion by the anonymous creator of Bitcoin, who is popularly known by the name Satoshi Nakamoto, when a cryptic message was left saying “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

Researchers conducted on this issue revealed that the blockchain contains a minimum of 8 files with sexual content out of which five are termed as mildly obscene whereas 3 have seriously objectionable content.

A research paper says:

“Two of them are backups of link lists to child pornography, containing 274 links to websites, 142 of which refer to Tor hidden services”.

The legal actions on this have not been confirmed as of now and the officials are reluctant to speak out on this issue. The researchers also brought out information pertaining to the news articles present on the blockchain which reports the pro-democracy demonstrations in Hong Kong in 2014.

A Twitterati comments:

“People like to mess around and this is such a bizarre thing to be doing on a multi-billion dollar platform. The people responsible are for no doubt complete wackos. Moreover who watches child porn? At least have some morality.”

Another user expressed his concerns by saying:

“Also, the preferable term is “child abuse images” or “non-consensual imagery”. The term “pornography” carries with it connotations of consent between those whose images are taken and the person publishing the imagery, which non-consensual imagery lacks”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Vinod KA is an intern at AMBCrypto who has been analyzing the cryptocurrency market trends for several months now. He joined the company out of sheer interest in the cryptocurrency world and is fascinated by its dominance in the financial world. He does not hold value in any cryptocurrencies as of now.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin

Bitcoin will likely be valued at $100,000 with a market cap of over $2 trillion before the end of 2021

Priya

Published

on

By

Bitcoin [BTC] will likely reach $100,000 with a market cap of over $2 trillion before the end of 2021
Source: Unsplash

The entire cryptocurrency market seems to be on the brighter side of the market since the beginning of the year. A majority of the coins have recorded significant recoveries from their 2018 slump, a period during which most coins lost over 90 percent of their value, when compared to their all-time highs. Among all the coins in the market, Bitcoin [BTC] aka the digital gold, was noted to be making a massive comeback as the coin breached the $11,000 mark after nearly 15 months. The coin however, soon retracted to settle below the $11,000 level.

According to CoinMarketCap, at press time, Bitcoin was trading at $10,887.27 with a market cap of $93.549 billion. The coin recorded a 24-hour trading volume of $20.757 billion for the past 24 hours and saw a massive rise of over 17 percent over the past seven days.

Anthony Pompliano, Co-founder of Morgan Creek Digital Assets, predicted that the largest digital currency could rise to reach $100,000, before the end of 2021. Pomp added that he was around 70-75 percent confident in this prediction. He stated,

“As I have previously said, making predictions is difficult […] Part of my process as a professional money manager is forming a thesis (price target), identifying a timeline (date), and establishing a confidence level. And then constantly re-evaluating those three aspects of my thought process as I receive new information.”

Pomp however, listed six pointers that have to be understood beforehand. First, this prediction is not an investment advice, and people should do their own research before investing in the digital currency. The second is with respect to Bitcoin’s volatility, with Pomp remarking that since it was a highly volatile market, the coin could witness a significant fall before being valued at $100,000. He stated,

“I anticipate that there will be numerous 20-30% drawdowns from new all-time highs as the asset continues to appreciate in value. These mini-boom/bust cycles should not cause panic, but rather need to be understood as natural market dynamics whenever an asset gains significant value in short periods of time.”

Further, the partner of the investment firm stated that the rise would be driven by several catalysts. This includes institutional adoption, exchange-traded funds and retail product approvals, global instability, governments all across the globe manipulating currencies, markets and economy. He went on to state,

“The market cap of Bitcoin will reach $2+ trillion when Bitcoin is worth $100,000. This is less than 1/3 the market cap of gold and less than 1/40 the global money supply.”





Subscribe to AMBCrypto’s Newsletter


Continue Reading