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It is imposible to anonymously buy or sell bitcoin now. If you buy Bitcoins and send them to "censored" people you will be caught immediately and possibly punis
by sprash 7y ago
It is imposible to anonymously buy or sell bitcoin now. If you buy Bitcoins and send them to "censored" people you will be caught immediately and possibly punished.
"Tainted" bitcoins will be traced and will be unusable in Germany.
This new law will also make sure that "censored" persons can not convert bitcoin to fiat. For them bitcoin will be worthless because they have to pay their taxes in fiat.
If this is a blueprint for what is coming in the rest of the world, bitcoin is over. It is now worth less than Gold, because Gold can not be traced.
- stale2002 7y ago> and send them to "censored" people you will be caught immediately and possibly punished. Nope! There are many people that are censored which have broken no laws, have not been charged with any crimes, and yet the banking system tries to block their payments anyway. By making the transaction on the blockchain, PayPal, who whoever, can't just decide, on a whim to block your transactions arbitrarily, even though no law has been broken. An example that comes to mind is WikiLeaks. There was a time when donations to WikiLeaks were blocked, through the credit card system, even though they were not charged with any crimes. Yet the Bitcoin transactions succeeded, and nobody was sent to jail for donating to WikiLeaks. Financial censorship is something that is often done even though people have broken no laws, and the act of the financial censorship itself is actually the illegal action. This has nothing to do with people breaking laws. The most common financial censorship is done, arbitrarily, to people who have not broken any laws, have not been charged with any crime, and who will never been able to defend themselves in a court. Stopping this kind of financial censorship, is extremely valuable.