Bitcoin [BTC] fails in its logic if a part of it isn’t ‘dark,’ claims Giacomo Zucco

2019-6-6 17:30

When the idea of digital assets first surfaced back in 2009, a major point of reference towards it possibly replacing the present monetary system was that it was decentralized and transparent. Bitcoin [BTC] led the digital assets’ charge, gaining significant popularity over the years.

In the wake of the recent collective surge exhibited by Bitcoin and other crypto-assets, Tim Draper, a major Bitcoin Bull, took the opportunity to further appreciate the presence of Bitcoin in the financial market. He said,

“It is a better currency. It’s decentralized, open, it’s transparent. Everybody knows what happens on the blockchain.”

However, the thought shared by Draper was not entirely agreed to by many in the crypto-community.

Giacomo Zucco, CEO at BlockchainLabit, made waves after he suggested that the assumption wrapped around Bitcoin and its aspect of transparency, was far-fetched and “retarded beyond belief.”

Zucco opined that any kind of “hard” money would not work in general, if it could not be used as “dark money” for alleged “illegal” activities.

He stated,

“If the state wants to tax via inflation, it will ban “hard” alternative, just as with physical gold & e-gold. Bitcoin can be “hard” because it’s “dark”. If it wasn’t, it would be useless. Sentences like “cash fiat will be banned to protect negative interest rates, so you will not be able to buy bitcoin with cash”, overlook the fact that the SAME political agenda will push to ban bitcoin to protect negative interest rates.”

He further added that the potential of Bitcoin being used as “protection from inflation” arises only if the virtual asset withstands any legal bans.

He added,

“It’s ok to imagine that using Bitcoin anonymously “enough” (nothing is ever “perfect” in this regard) is too hard to be feasible, but then you have to logically conclude Bitcoin has failed.”

It can be argued that Zucco isn’t far from being correct, since Bitcoin has in the past been linked to Silk Road, the famous darknet marketplace where once, in 2013, over 90% of the transactions were taking place using Bitcoin. Silk Road was later closed down by the FBI and DEA.

The post Bitcoin [BTC] fails in its logic if a part of it isn’t ‘dark,’ claims Giacomo Zucco appeared first on AMBCrypto.

origin »

Bitcoin (BTC) на Currencies.ru

$ 104550.85 (+0.57%)
Объем 24H $40.578b
Изменеия 24h: 0.19 %, 7d: -3.47 %
Cегодня L: $103962.42 - H: $105218.85
Капитализация $2078.575b Rank 1
Цена в час новости $ 7996.49 (1207.46%)

bitcoin btc zucco giacomo digital assets fails

bitcoin btc → Результатов: 126


Strategy acquires another 10,100 BTC as Bitcoin shrugs the Israel-Iran conflict

Michael Saylor’s Strategy has once again made headlines with another bold Bitcoin (BTC) acquisition, even as global markets remain on edge over rising geopolitical tensions between Israel and Iran. The firm purchased 10,100 BTC, demonstrating unwavering confidence in Bitcoin’s long-term value, regardless of the surrounding instability in the Middle East. Bitcoin is holding firm amid […]

2025-6-16 17:23


Bitcoin (BTC) soars past $110K while RUVI AI’s (RUVI) phase 2 presale ignites with 14% sold and 1,200+ holders

Bitcoin (BTC), the world’s leading cryptocurrency, has reached to a new all-time high of $111,860, underscoring its continued dominance in the digital asset market.  With a current trading price of $110,720, Bitcoin’s impressive performance reflects rising investor confidence, driven by eased trade tensions and increased adoption by traditional financial firms. While the crypto community celebrates […]

2025-5-24 20:01


BTC rises by 6% in a week, but analysts predict Ruvi AI will deliver 20,000%

Bitcoin (BTC) has once again captured headlines, climbing to an impressive $103,271. 21, thanks to optimism surrounding global trade agreements and growing institutional investments. Bitcoin’s recovery from lows near $74,000 just last month demonstrates its unmatched ability to deliver substantial returns for those who seize opportunities early.

2025-5-15 04:02