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Cryptocurrencies and how they are used for illegal actvities - Coggle…
Cryptocurrencies and how they are used for illegal actvities
Explain what cryptocurrencies are and how they work:
what crypto mining is and how it works
What type of people use them and why
What blockchains are
Introduce the illegal uses of cryptocurrencies and explain different ways of using it:
Use statics about what groups and ages use this side of cryptocurrencies
The drug market and how it is the largest use of illegal cryptocurrencies
How they are often used to fund terroism due to the intractability of them
Money laudnering
Human trafficking such as prosistuition etc.
and more but less detailed information about them:
Imposter websites
fake social media accounts
dating apps
fake mobile phone apps
Why governments do not commonly support them:
due to all the illegal activity
devalueing government issued currencies(FIAT money)
The lack of control over the regulation of it
How governments such as China where cryptocurrencies are banned might introduce government controlled cryptocurrencies
Environmental impacts from cryptocurrencies:
How bitcoin mining alone uses the same energy in a year as Argentina
65% of Bitcoin is mined in China which is the country that uses the most coal for energy
The bitcoin network also generates 11.5 kilotons of e-waste every year
How not all cryptocurrencies require mining and how using them can actually make improve the environment