Yes,Bitcoin is being used by criminals,hackers and scammers.
Yes,Bitcoin isn't fully anonymous and transactions can be tracked.
The "Twitter hackers" were pretty stupid for not hiding their tracks,so that's why they got caught.There are way smarter hackers and scammers that are going everything they can to hide their tracks and online blueprints,when dealing with Bitcoin.Such hackers are getting away with their crimes.
You can't prove a point here...
Topic: Crypto being way better when it comes to tracking - what we always said - page 2. (Read 308 times)
August 06, 2020, 12:14:30 AM
August 05, 2020, 11:00:58 PM
that is misleading because as far as i understood the situation these twitter hackers (or most of the other criminals that were caught in the past) weren't caught because they were using bitcoin and through bitcoin blockchain analysis. instead they were all caught because they were using some centralized service (Coinbase in this case and most cases!) and that service revealed their identity.
for example there was a hacker a while ago who sent the hacked bitcoins to his Coinbase account and was also buying stuff from iTunes and were caught that way. he might as well never used bitcoin and were using something like PayPal.
for example there was a hacker a while ago who sent the hacked bitcoins to his Coinbase account and was also buying stuff from iTunes and were caught that way. he might as well never used bitcoin and were using something like PayPal.
August 05, 2020, 10:07:28 PM
Some governments does have a different views and understanding about bitcoin thus making it to be illegal in their country.
But that doesn't mean all governments are not open minded about this new advanced technology. Even without bitcoin, fraudsters, scammers, illegal activities already been occured. It's just that nowadays, they've been using bitcoin making it to give bad reputations.
Anyway, we are in a new era now which cryptocurrency is being popular in different countries. We shall be optimistic about the good use and impact of it in different aspects.
But that doesn't mean all governments are not open minded about this new advanced technology. Even without bitcoin, fraudsters, scammers, illegal activities already been occured. It's just that nowadays, they've been using bitcoin making it to give bad reputations.
Anyway, we are in a new era now which cryptocurrency is being popular in different countries. We shall be optimistic about the good use and impact of it in different aspects.
August 05, 2020, 08:19:01 PM
Time and again there has been a feud between Bitcoins supporter and the Government . Government always said how cryptocurrencies are not a good option since they can be used for illegal purposes and therefore should be banned .
They're basically making excuses so that their illegal action themselves are unable to be noticed/tracked. It's actually a lot easier for them to be tracked when there's an officially recognized address for each government organization's wallet after all. Also, the twitter hack was quickly tracked because of the carelessness of the hackers themselves. They didn't send them all to mixers, cashed out a few which lead to them being tracked, as well as a few of their fellow hackers just plain up confessed everything when they were caught. Add that to their young age, it was quite natural that their inexperience led them to being caught. This is basically how past people were fearful of fire because it hurts them, when in reality if people actually bothered to learn about it, it'd be a pretty useful tool for our everyday lives.
August 05, 2020, 08:05:15 PM
Quote
Lana Schwartzmann, chief compliance officer for Paxful, said regarding the Twitter hack “It’s quite amazing how different this is from what we’d see in the traditional fiat world. You’d never have this resolved so quickly.”
This is only true because the Twitter hackers were especially careless. They were using their own KYC-verified Coinbase accounts to transact on a hacking forum, OGUsers -- while doing nothing to hide their IP addresses. Then they tried to broker access to hacked Twitter accounts through the same forum.
It took just one central point of failure -- the forum database, which had been previously hacked. Law enforcement acquired a copy of it, and the rest is history.
I thought this was an especially vomit-worthy response from Coinbase:
Quote
Also speaking about Twitter, Coinbase’s chief compliance officer Jeff Horowitz agreed that it was part of a shifting narrative around crypto: “The story quickly changed to ‘how is crypto partnering with law enforcement to track this issue?’”
August 05, 2020, 07:37:51 PM
People claim that BTC is not a good replacement because it can be used for money laundering and tax evasion clearly doesn't know, what the Blockchain ledger is.
In fact the technology behind Bitcoins fix other issues in your banking system such as fractional reserve banking and quantitative easing which devalues other supply in circulation.
In fact the technology behind Bitcoins fix other issues in your banking system such as fractional reserve banking and quantitative easing which devalues other supply in circulation.
August 05, 2020, 06:31:57 PM
- how Bitcoins needs to be recognized as a good thing by the government not a competition or be negatively associated.
They are starting to recognize it as they find the value of it growing back again. They will not ignore it as it's giving the attention of everyone who looks after the price but not what it is.Just like any other payment options that we have in our economy, bitcoin can be an alternative of it. They don't have to look at it as something negative which they can't benefit.
Looking like a high-end person will always see the negative side of Bitcoin. I see it for myself. Even today already some countries already use Bitcoin as an alternative currency and are very good in some areas of business as well. I hope it will happen in my country. And they don't look at the negative side of bitcoins.
Very soon, most countries will have the thought and eventually understand the concepts what bitcoin actually is.
August 05, 2020, 06:00:45 PM
Bitcoin always has pros and cons about the technology it uses which is integrated with the blockchain, so that any transactions carried out in bitcoin will be easily tracked by anyone, this is transparent. Not all governments think that bitcoin is only used as a criminal and illegal destination. Bitcoin also still has a positive side that will be useful. tracking people who hacked on twitter is certainly proof that bitcoin is very useful for tracking crimes committed.
But there are some transactions that will not be easily traced and require permission from third parties, such as if the transaction uses a coin mixer service to eliminate the origin of the coin, this is a level of privacy that is done to eliminate traces of the transaction.
But there are some transactions that will not be easily traced and require permission from third parties, such as if the transaction uses a coin mixer service to eliminate the origin of the coin, this is a level of privacy that is done to eliminate traces of the transaction.
August 05, 2020, 05:47:32 PM
- how Bitcoins needs to be recognized as a good thing by the government not a competition or be negatively associated.
They are starting to recognize it as they find the value of it growing back again. They will not ignore it as it's giving the attention of everyone who looks after the price but not what it is.Just like any other payment options that we have in our economy, bitcoin can be an alternative of it. They don't have to look at it as something negative which they can't benefit.
Looking like a high-end person will always see the negative side of Bitcoin. I see it for myself. Even today already some countries already use Bitcoin as an alternative currency and are very good in some areas of business as well. I hope it will happen in my country. And they don't look at the negative side of bitcoins.
August 05, 2020, 05:28:43 PM
- how Bitcoins needs to be recognized as a good thing by the government not a competition or be negatively associated.
They are starting to recognize it as they find the value of it growing back again. They will not ignore it as it's giving the attention of everyone who looks after the price but not what it is.Just like any other payment options that we have in our economy, bitcoin can be an alternative of it. They don't have to look at it as something negative which they can't benefit.
August 05, 2020, 03:13:31 PM
Scam has been existing before cryptocurrencies were created, in this modern time, people still mostly use fiats to scam, even if bitcoin and all other cryptocurrencies are banned, scammerw will still always make use of fiats to scam. There are many ways scammers o this successfully in a way they can even not be traceable. In some instances, bitcoin and other cryptocurrencies are traceable than fiats.
Fiat currencies are used for everything way more than Bitcoin, so it's really a non-statement to say that fiat is used more for scams, money laundering, etc. Just because this problem exists with fiat, doesn't mean that we should ignore it in Bitcoin. After all, we all dream about a world where Bitcoin is used for everything, so we need to be ready to solve those problems.
Traceability is only one part of it though, immutability is also playing the role here. I believe Bitcoin really did contribute to the growth of ransomware, because most ransoms require Bitcoin or other crypto, and this scheme wouldn't work well with any centralized payment system, as accounts would be very quickly shut down, and large sums of money are hard to move without KYC. This is the cost of having more freedom - some people will use it for bad things. But I believe that the good use cases are much more common than the bad ones.
August 05, 2020, 03:05:45 PM
This is likely one of the reasons why Bitcoin wasn't banned so far, if criminals make mistakes, it's really easy to catch them. If you ban Bitcoin and other crypto, criminals will have more reasons to move to Monero.
Scam has been existing before cryptocurrencies were created, in this modern time, people still mostly use fiats to scam, even if bitcoin and all other cryptocurrencies are banned, scammerw will still always make use of fiats to scam. There are many ways scammers o this successfully in a way they can even not be traceable. In some instances, bitcoin and other cryptocurrencies are traceable than fiats. August 05, 2020, 02:46:48 PM
Government always said how cryptocurrencies are not a good option since they can be used for illegal purposes and therefore should be banned .
This is not true, very few countries have banned Bitcoin, and even if you hear some criticism of Bitcoin from single government officials, it's not the same as the entire government wanting to ban Bitcoin. There's even examples of government officials supporting Bitcoin.
Twitter hack did steal a lot from people but at the same time the fact that the government was able to track down those people do prove that whatever claims they might make about cryptocurrencies being problematic and used for money laundering and other stuff , they are forgetting the fact that it's so transparent that it can destroy the whole corrupted body itself. Maybe this is the reason why they are scared of the Bitcoins.
This is likely one of the reasons why Bitcoin wasn't banned so far, if criminals make mistakes, it's really easy to catch them. If you ban Bitcoin and other crypto, criminals will have more reasons to move to Monero.
August 05, 2020, 01:14:18 PM
https://cointelegraph.com/news/twitter-hack-shows-that-crypto-is-easier-to-investigate-than-fiat-say-industry-law-experts
Time and again there has been a feud between Bitcoins supporter and the Government . Government always said how cryptocurrencies are not a good option since they can be used for illegal purposes and therefore should be banned .
Twitter hack did steal a lot from people but at the same time the fact that the government was able to track down those people do prove that whatever claims they might make about cryptocurrencies being problematic and used for money laundering and other stuff , they are forgetting the fact that it's so transparent that it can destroy the whole corrupted body itself. Maybe this is the reason why they are scared of the Bitcoins.
I do believe through this we learned a few lessons .
- how one should be there extra cautious online
- how Bitcoins needs to be recognized as a good thing by the government not a competition or be negatively associated.
Time and again there has been a feud between Bitcoins supporter and the Government . Government always said how cryptocurrencies are not a good option since they can be used for illegal purposes and therefore should be banned .
Twitter hack did steal a lot from people but at the same time the fact that the government was able to track down those people do prove that whatever claims they might make about cryptocurrencies being problematic and used for money laundering and other stuff , they are forgetting the fact that it's so transparent that it can destroy the whole corrupted body itself. Maybe this is the reason why they are scared of the Bitcoins.
I do believe through this we learned a few lessons .
- how one should be there extra cautious online
- how Bitcoins needs to be recognized as a good thing by the government not a competition or be negatively associated.
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