Too Much Bitcoin Is Still Owned by Dark Market Players?

A recent report by Chainalysis says almost 1 million bitcoins are owned by hackers, scammers, and dark web buyers. Many media outlets say bitcoin will never become mainstream until it shakes this “dark side” of its reputation permanently.

Is this true though?

Criminals use all kinds of other financial tools, and it doesn't affect their reputation.

Cybercriminals attack Internet of Things devices over 5000 times a month. But your router and connected cameras, which account for 90% of this activity, aren’t having trouble with mainstream acceptance either.

And what is the definition of "mainstream adoption”, because this term seems to be a moving goal post.

I talk about the recent Microstrategy announcement, Grayscale report, and news from the OCC about bitcoin allowed in banking.

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Reports cited:

Illicit activity report:
https://markets.chainalysis.com/#risk-illicit-placement

Article referred to:
https://www.livebitcoinnews.com/chainalysis-too-much-btc-is-still-owned-by-dark-market-players/

Microstrategy announcement:
https://www.businesswire.com/news/home/20200811005331/en/MicroStrategy-Adopts-Bitcoin-Primary-Treasury-Reserve-Asset

Hacker stats:
https://www.consumeraffairs.com/finance/identity-theft-statistics.html

Here are a bunch of products I use and like: Using these links helps support the channel and future videos!

Permanent Record - Edward Snowden
https://amzn.to/305negc

What has the government done to our money - Rothbard
https://amzn.to/2KMzmcu

Naomi's Privacy Bag: some of my favorite products to help protect your privacy!

Use the Brave browser! https://brave.com/nao076

USB-C to ethernet adapter:
https://amzn.to/2lOVBoy

Lightening to ethernet adapter:
https://amzn.to/2nWyNns

Faraday bag wallet (signal stopping, to protect your fob, credit card, and phone)
https://amzn.to/2SUkPhu

Data Blocker (if you're charging your phone in an unknown port, use this so that no data is transferred)
https://amzn.to/2SVh0J2

Computer privacy screen (use your computer in public? Keep your information safe!)
https://amzn.to/2SXYHmf

Phone privacy screen (don't let people in public see your private data)
https://amzn.to/2YyJMnH

Camera cover (for computers and phones, so no one can access your camera without you knowing)
https://amzn.to/2Mt7Hic

Privacy Tip: Don't use wifi, and if you must, append the tag ‘_nomap’ or ‘_optout’ to your SSID to stop other websites tracking your location.