Lately, the term Bitcoin has been in focus in most of the news outlets around the world for months. Maximum people have grasped the basics of Bitcoin when the price of the Cryptocurrency has raised a lot that has made it a rare commodity. Bitcoin has been regarded as the godfather of the Cryptocurrency in all the deep web markets. Since Bitcoin was started, it has enjoyed rise and downfall. It was regarded as the pyramid scheme by most people as it does not have any central regulatory body that controls and watches over it. This has made it free from the human corruption and error. What makes Bitcoin safer for use is the peer-to peer network used in the transactions that entitles trust to the system by the investors. All of these factors have made Bitcoin to rise suddenly in the world market since the last year.
It has been allegedly claimed that the dark web markets have significantly affected the performance of the Bitcoin. Almost all of the darknet markets have integrated Bitcoin as the primary mode of transaction including some of the now withdrawn markets like the AlphaBay and Hansa where the Cryptocurrency is used to buy and sell illegal products. The end users are attracted to the Cryptocurrency due to the only reason it provides that is maintaining the anonymity. Bitcoin mode of payment does not use a paper trail that maintains the anonymity of the users.
The Bitcoins are passed through the Blockchain are not used by the intended users simply due to the fact that there is no one to verify whether the Bitcoin a person possess is stolen or is his own. The current market price of the Cryptocurrency is almost crossing $ 17,000 that promotes the hacking by the hackers all over the world.