Abstract

ARMELLA GARZON, Carla Lorena; RETAMOZO GARECA, Ana María  and  CARDOZO ROMERO, Jaime Rodrigo. Bitcoin, to godsend for criminals?. cuad.adm. [online]. 2023, vol.39, n.76, e4012375.  Epub Sep 19, 2023. ISSN 0120-4645.  https://doi.org/10.25100/cdea.v39i76.12375.

Bitcoin is the most emblematic example of the benefits brought about by technological innovation in the financial field; its acceptance and popularity are due to the capitalization it has achieved throughout its history. However, there are those who associate Bitcoin with criminal activities that trigger theft. Based on the above, the objective of this study was to analyze the cryptography of the virtual currency Bitcoin to determine the risk of computer vulnerability in the investment. The research approach is qualitative, the longitudinal analytical method was used with a non-experimental design whose scope is exploratory and descriptive. For the purposes of data collection, use was made of: semi-structured interviews and documentary review; obtaining that to computerize the network, it is required that 51% of the entire block chain be rewritten, an impossible scenario thanks to the fact that the cryptography based on Blockchain technology makes transactions with Bitcoin computationally irreversible. Finally, it is proven that intimidation, fraud and scams are causes of rejection towards Bitcoin, but the risk of being a victim of this type of criminal activity in investment can be minimized through education.

Keywords : Bitcoin; Blockchain; Investment; Criminal activities; Computer vulnerability, Behavioral finance.

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