BITCOIN: Cryptocurrency is the avenue for criminals

... Credit :
Shadrach   in Crypto & Trading

Last updated: 09 January 2020, 04:17 GMT

Bjarne Stroustrup, the man who invented the world’s most popular computer programming language says he regrets that his work was used to build bitcoin, slamming the cryptocurrency as a tool that ‘mostly serves criminals’.

Danish computer scientist Bjarne Stroustrup invented the language C++ in 1985. And 34 years since it’s release, the language remains as one of the most commonly used codes woven into systems throughout the world. However, Stroustrup now says that his biggest regret over the last four decades is that his work went on to become the code upon which bitcoin is based. “When you build a tool, you do not know how it is going to be used,” he lamented.

 I’m very happy and proud of some of the things C++ is being used for and there are some other things I wish people wouldn’t do.” He stated. 

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“Bitcoin mining is my favourite example – it uses as much energy as Switzerland and mostly serves criminals.”

 The 68-year-old – a managing director at Morgan Stanley in New York – has spoken about his dislike of cryptocurrency before, but this is the first time he’s expressed remorse over his code being used in the creation of BTC.

 Speaking on the highly popular Lex Fridman podcast, the University of Cambridge graduate enthused over the great achievements made with computer science, but he turned his ire upon bitcoin when he discussed regrets, highlighting concern over environmental issues and criminality.

 Almost half of all bitcoin transactions have, according to some studies, connections to criminal activities. It has also been suggested that almost a quarter of BTC users are also involved in illegal activity to the tune of $72 billion a year.

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Bitcoin uses up to an astonishing seven gigawatts of electricity a year and accounting for 0.21 percent of the world’s supplies and because of this, it attracts criticism for its negative environmental impact. Coin Rivet is a website bringing news, information, analysis, opinion and insight from the fast-moving blockchain world.