How Diddy's Arrest Shed Light on Bitcoin's Shady "Stepbrother" Darkcoin

Diddy’s arrest is the news. You can’t avoid it even if you want to. What was my initial reaction? Well…

Not worth my time. Thank you but no thank you, I don’t want to know more. I’m passing this one in a heartbeat.

Jaguar Wright CLAIMS Diddy is selling “TAPES” on the Dark Net to avoid Trial.

Look, I’m not living under a rock, but for some things, my answer is simple - block, period. All I needed and wanted to learn about the Dark Net was from watching the Silk Road movie. Informative. Entertaining. Enough. Case closed.

But then I heard about Darkcoin which was allegedly used as a currency for selling these freak-offs as “works of art.” I feel like people didn’t look at my story, Why Bitcoin is Not an "Ideal" Ransomware Currency, the right way.

All Bitcoin transactions are public, traceable, and permanently stored in the Bitcoin network. Bitcoin addresses are the only information used to define where bitcoins are allocated and where they are sent. Bitcoin is often perceived as an anonymous payment network. But in reality, Bitcoin is probably the most transparent payment network in the world. At the same time, Bitcoin can provide acceptable levels of privacy when used correctly.

You can trace Bitcoin transactions if you want to. My point is, if you’re up to doing something bad then Bitcoin isn’t a good choice.

Netherland-based Maastricht University (UM) is set to recover nearly €500,000 ($512,150) worth of Bitcoin (BTC) after the police authorities managed to solve the infamous ransomware attack in December 2019.

Darkcoins are Dark for Dark Reasons

It’s legit wanting to stay anonymous and protect your privacy. It’s also inappropriate to even ask why. But, if you want to go even deeper down the rabbit hole of “alleged anonymity” and “absolute privacy,” then I have to raise my eyebrows, at least.

Darkcoin offers far greater anonymity than bitcoin, mixing up users' transactions so that it's incredibly difficult to trace a payment to a person.

I don’t know about you, but for me, “mixing” rhymes with hiding and risking. Why would you want to use it, in the first place? I’m not interested in delving into the technicalities of mixing. I mean, the choice of terms is dark enough.

One of the major components of darkcoin is DarkSend, a peer-to-peer framework that bundles small transactions into larger anonymous ones.

Too dark for me, and it’s about to be pitch dark when I move forward. According to the unconfirmed and unreliable “sources,” these notorious tapes were sold for hundreds of millions of dollars. Understandably, Darkcoin was used and its price skyrocketed. I can only say, we live in a truly sad and dark world, if that was the case. So, I wanted to check what’s the current situation with the Darkcoin’s price.

The live DarkCoin price today is $0 USD with a 24-hour trading volume of $0 USD. We update our DARK to USD price in real-time.

This screenshot is the good news. The next one, I don’t know much about because I’m interested in becoming a member of this community, not so good.

I don’t want to see more. I don’t want to know more.

How About A Warning Instead of A Conclusion

The dark web AKA darknet is going nowhere. If you are a dissident or whistleblower then you have to browse in the dark for all the right reasons. The deeper you go, the uglier it gets. I don’t need evidence for this claim.

Is Darkcoin dead or just hibernating? I’m afraid it’s going to be like this until the next shocking discovery: