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This going to be interesting. They will ask all the US based exchanges - Coinbase, Circle etc for their trade and order data for analysis. Coinbase has already
by thisisit 8y ago
This going to be interesting. They will ask all the US based exchanges - Coinbase, Circle etc for their trade and order data for analysis. Coinbase has already fought and lost a case when it came to sharing the data for tax purposes. And one of the touted features of cryptocurrency has always been anonymity.
- krageon 8y agoBitcoin is traceable by nature. Anyone who makes claims of anonymity either doesn't understand how it works or has a system in place that provides uncertainty (ie tumbling).
- Cthulhu_ 8y agoTraceable yes, but also anonymous since a BTC address is just a number without any personally identifiable information attached to it. It's at the edges - e.g. exchanges - where it becomes traceable.
- celticninja 8y agoPseudonymus
- adrianN 8y agoGood luck using bitcoin in a way where you can't connect the BTC address to a real person after a small number of transactions. Anonymizing data is very hard, pseudonyms are almost never anonymous.
- dkersten 8y agoI know people who have exchanged bitcoins and cash anonymously on the street. Sounds pretty risky to me and I certainly don’t think it’s feasible for large volumes of either currency, but it’s possible and has happened, at least.
- ceejayoz 8y ago> I know people who have exchanged bitcoins and cash anonymously on the street. If I were a narcotics undercover agent, I'd be working to become The Guy locally to trade Bitcoins with in this manner. Have a partner snap a photo or follow them home to compile a list of people transacting like this. Chances are good this is already happening in some cities.
- dkersten 8y agoSure, as I said it sounds pretty risky (for many reasons), I’m just saying that it does happen and st least has a possibility of anonymity.
- briatx 8y agoAnd vendors. https://www.technologyreview.com/s/608716/bitcoin-transactions-arent-as-anonymous-as-everyone-hoped/ https://www.technologyreview.com/s/608716/bitcoin-transactio... And if your id is leaked in one transaction, it links your id to all other transactions done with that wallet.
- trumped 8y agoIf you buy them with cash and use them in a way that can't be traced back to you, you can stay fairly anonymous, but you still have to be very very careful.
- vkou 8y agoUnless your cash-bitcoin counterparty is the mole.
- cwkoss 8y agoTumbling is plagued by a horrible tragedy of the commons problem: the more tainted your coins are, the more you want to tumble them. People who legitimately acquired their bitcoins don't need to tumble them, so chances are you are just getting other tainted coins in return. People seem to think that coins are 'clean' after tumbling, but I think its much more likely that you'll get back more suspicious coins: superlatively, "Here's my personal-use drug bitcoin, give me coins that were earned by assassinating someone"
- manfredo 8y agoIsn't the whole goal of tumbling to provide plausible deniability? The goal is to avoid tying the coins earned or used in an illicit activity with the the people involved in those activities. If a drug dealer gets an assassin's coins and vice versa then the goal is still accomplished even though all the coins involved are tainted. The drug dealer's possession of the assassin's coins don't help in building a case against his or her drug dealing operation.
- cwkoss 8y agoTrue, but being in possession of coins tied to an assassination probably puts you at greater risk of being the subject of a federal investigation than being in possession of drug-related coins.