3 ms·
it's the ultimate irony. It feels like anonymity because you decouple the "get a bunch of BTC" from "cash out to USD", so it's the worst of both worlds. It's a
by rtpg 10y ago
it's the ultimate irony. It feels like anonymity because you decouple the "get a bunch of BTC" from "cash out to USD", so it's the worst of both worlds.
It's anonymous at first, so fraud can't easily be reversed. But it's "eventually completely public", so people who might want to use it for anonymity are sitting on a ticking time bomb. Eventually, their identities will be revealed.
- blunte 10y agoIndeed, but people just don't seem to get this. As long as people are converting fiat to crypto at the front end, and then crypto back to another fiat at the back end, then there is no anonymity. There may be a lot of obfuscation in the middle, but ultimately the guy who converts back to fiat will be asked the question by his government, "Where did this money come from?" Then he needs a provable paper trail. Maybe someday enough goods and services will be available to be purchased by cryptocurrency that fiat use will be diminished or eliminated. But at that point, the companies that are accepting cryptocurrency as payment for services will have to keep their own accounting in order to show their governments where their money is coming from. And then again the anonymity breaks down. The customer records, with email, ip, and shipping addresses are part of the audit trail.
- legohead 10y ago"I found a printout of the bitcoin key."