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> evasion of governmental restrictions ... core use case for Bitcoin I think you're absolutely right, with the caveat that... Yes, just because people are com
by yebyen 9y ago
> evasion of governmental restrictions ... core use case for Bitcoin
I think you're absolutely right, with the caveat that...
Yes, just because people are coming to Bitcoin with this in mind, does not mean that ultimately Bitcoin is successful at that use case.
Graphs like this coin flow graph[1] and the story[2] that goes with it, make claims that Bitcoin users can more successfully evade government restrictions, seem particularly dubious.
Coinbase, a licensed Money Service business, follows Know Your Customer and grows increasingly interested in their customers. I recently had to answer a follow-up survey about how I use Bitcoin and where my income is coming from, in order to withdraw less than $1000.
It would have been pretty easy to lie on this survey (and the questions were particularly non-invasive) but there's not really any doubt in my mind that Bitcoin is a platform where the users can be tracked.
We're running out of examples of major Bitcoin heists that went unsolved.
Bitcoin is absolutely more trackable than cash, and in a lot of cases (although maybe not so much for "tracking users" who are associated with governments, that already likely do have access to databases which the rest of us don't... but for the unprivileged anonymous internet users who are interested in tracking) Bitcoin is significantly more transparent and even more trackable than the banking system.
[1]: http://wizsec.jp/images/theft_flow.svg http://wizsec.jp/images/theft_flow.svg
[2]: http://blog.wizsec.jp/2017/07/breaking-open-mtgox-1.html http://blog.wizsec.jp/2017/07/breaking-open-mtgox-1.html