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TagGilad Edelman

Crypto currency and cryptocurrency questions and investing uncertainty as a virtual blockchain money investment risk with a golden coin representing bitcoin

The Great Paradox of Cryptocurrency: Is It Freer or Not?

Many insist it is freer but, as a new book reveals, that’s not clear

In a prepublication review of Tracers in the Dark: The Global Hunt for the Crime Lords of Cryptocurrency, Wired’s top editor Gideon Lichfield comments on the big crypto paradox: Its transactions are anonymous, but since every single one is public, stored on a blockchain that (by design) anyone can look at, they are like the broken stalks left by a thief fleeing through a wheat field—a bounty of data for experts in digital forensics, who can piece together identifying patterns. As Andy has previously written, this supposedly untraceable and secure form of money is in fact notoriously hard to launder and easy to steal, and the digital paper trails created by inexperienced criminals using it carelessly for more than a…