However, this article would be biased if I didn't also point out that privacy coins also represent a desirable financial instrument for cybercriminals to conduct their nefarious activities.
True, but criminals always seem to find the best new way to do their dealings and then only everyone else catches on the trend. In fact, the first ever trade made online was a drug trade, I wrote about it a while ago: https://steemit.com/technology/@lets-tech/history-of-tech-the-first-product-sold-online
We can't blame privacy coins or ban them just because of criminals, we need to embrace it and perfect it, remember that bitcoin was also adopted by the criminal world. The technology is out there and criminals would always have it as an option.
Fantastic post as always @techblogger
Nice contribution! In regard to privacy coins we'll have to take the good with the bad eh?
@lets-tech I agree with you as well. Historically speaking, criminals have ALWAYS been part of the "early adopters" group for new technologies. They NEED innovative ways to evade the law.
Again, like you said, if we ban things that criminals use, we might as well ban EVERYTHING. Criminals use homes. Criminals sleep in beds. Criminals have bank accounts. Criminals get on planes. Should we ban those too?
I hear what you're saying in regards to criminals using cryptocurrencies, and not to be negative, but at the same time, criminals are using standard currencies now, they just incur some difficulties. My point is criminals will always find a way to do what they do.