The Dilemma of Bitcoin Security and User Anonymity

Because the ownership can be anonymous, bitcoin is even often used as a method of money laundering and various other criminal acts.

Bitcoins can also be transferred over the internet to anyone with a bitcoin wallet address.

Bitcoin's P2P topology and lack of a single administration make it extremely difficult to manipulate whether it's by any particular entity, be it a cybersecurity authority or any government.

So that the price of bitcoin is difficult to be influenced by inflation because it is difficult to produce bitcoins in very large quantities.

With bitcoin too, transactions between countries are very easy and private because bitcoin itself is not bound by any country, law or regulation.

Please note that every bitcoin transaction is recorded in public records but the names involved are never recorded and are always anonymous.

On the one hand, because it allows for illicit transactions, it is very difficult for the authorities to track down who is involved in various criminal acts.

Such criminal acts are, for example, financing terrorism, buying weapons, narcotics, and so on because of the extraordinary level of anonymity.