𝗜𝘁’𝘀 𝗙𝗨𝗗 𝗙𝗿𝗶𝗱𝗮𝘆!

Time to use all my training and knowledge to bust some more #Bitcoin FUD!

This week’s FUD:

“𝘽𝙞𝙩𝙘𝙤𝙞𝙣 𝙛𝙖𝙘𝙞𝙡𝙞𝙩𝙖𝙩𝙚𝙨 𝙞𝙡𝙡𝙚𝙜𝙖𝙡 𝙖𝙘𝙩𝙞𝙫𝙞𝙩𝙞𝙚𝙨.”

There has been a lot of this FUD going around in the news lately, so let’s crush it once and for all!

More below👇

A common misconception surrounding Bitcoin is its alleged facilitation of illegal activities. This narrative, while prevalent, 𝘭𝘢𝘤𝘬𝘴 𝘢 𝘯𝘶𝘢𝘯𝘤𝘦𝘥 𝘶𝘯𝘥𝘦𝘳𝘴𝘵𝘢𝘯𝘥𝘪𝘯𝘨 of Bitcoin's intrinsic properties, and 𝗶𝗴𝗻𝗼𝗿𝗲𝘀 𝘁𝗵𝗲 𝗯𝗿𝗼𝗮𝗱𝗲𝗿 𝗰𝗼𝗻𝘁𝗲𝘅𝘁 of financial crimes in the global economy.

Firstly, the transparent nature of Bitcoin's blockchain is often overlooked. Unlike traditional cash, every Bitcoin transaction is recorded on a public ledger, accessible to 𝘢𝘯𝘺𝘰𝘯𝘦. This level of transparency makes it an unfavorable tool for illicit activities.

Moreover, the argument that Bitcoin is predominantly used for illegal transactions is 𝘀𝘁𝗮𝘁𝗶𝘀𝘁𝗶𝗰𝗮𝗹𝗹𝘆 𝘂𝗻𝗳𝗼𝘂𝗻𝗱𝗲𝗱. Reports from leading blockchain analysis firms have consistently shown that illicit activities represent a 𝘮𝘪𝘯𝘶𝘴𝘤𝘶𝘭𝘦 𝘱𝘦𝘳𝘤𝘦𝘯𝘵𝘢𝘨𝘦 of overall Bitcoin transactions. In contrast, the scale of money laundering and other financial crimes through traditional banking systems 𝘥𝘸𝘢𝘳𝘧𝘴 any illicit use of Bitcoin.

It's crucial to distinguish the technology from its misuse. Just as the internet, despite its revolutionary benefits, can be used for nefarious purposes, Bitcoin's innovative technology 𝗶𝘀𝗻'𝘁 𝗶𝗻𝗵𝗲𝗿𝗲𝗻𝘁𝗹𝘆 𝗶𝗹𝗹𝗶𝗰𝗶𝘁. The focus should be on the 𝘱𝘦𝘳𝘱𝘦𝘵𝘳𝘢𝘵𝘰𝘳𝘴 of crimes, not the tools they occasionally misuse.

This is why Bitcoin is nowhere close to being a “haven” for illegal activities. Its open ledger makes it a poor choice for criminals, who use — and 𝘱𝘳𝘪𝘯𝘵 — US dollars for illicit activities far more often. Like cars and the internet, Bitcoin is just a tool, one that allows for a transparent, truthful, and efficient financial system.

Did I thoroughly bust that FUD?

Give this a 𝗟𝗶𝗸𝗲🤙

Know anyone who still says this?

𝗦𝗵𝗮𝗿𝗲🔄 this with them!

And 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this, so you can find it easily later.

Think you can write a better answer for this FUD?

Say it in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝟱𝟬𝟬𝟬 𝘀𝗮𝘁𝘀 𝘄𝗶𝗹𝗹 𝗴𝗼 𝘁𝗼 𝘄𝗵𝗼𝗲𝘃𝗲𝗿 𝘄𝗿𝗶𝘁𝗲𝘀 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 𝗿𝗲𝘀𝗽𝗼𝗻𝘀𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝟮𝟰 𝗵𝗼𝘂𝗿𝘀!