EU Plans To End Anonymity For Bitcoin And Prepaid Card Users

Amph

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Activity: 3248

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Quote from: redsn0w on February 28, 2016, 10:33:19 AM

Quote from: Amph on February 28, 2016, 09:47:12 AM

Quote from: redsn0w on February 28, 2016, 08:36:45 AM

Quote from: xuan87 on February 28, 2016, 08:35:15 AM

Its a bad news, i am using bitcoin because of the anonymous factor, if this really happen, i think i will try to look for other coin that can provides anonymity

bitcoin has never been so anonymous...it is/was rather pseudo-anonymous.

well it depend, there is a common mixconception here

bitcoin is actually fully anon if you only move your bitcoin from one place to another, unless you can telling me what was my lost coins that was moved from one address to another on the chain

instead if you associated a shipping address or you do it on a exchange with a bank account, i can agree that it's not anonymous anymore

This is why it should be considered pseudo-anonymous, it doesn't exist anything in this world that it can be considered 100% anonymous.

if you see the whole picture yes, you can said so, but you can choose to follow the total anonymous way with bitcoin, and be perfectly untraceable

Wilhelmus

newbie

Activity: 44

Merit: 0

Fighting the terrorism is just a pretext for all those bureaucrats who listen to the big banks to try to kill Bitcoin. The only thing they can do is to close bank accounts of the exchanges that don't want to cooperate. For the moment I only see Kraken. I'm not really an expert in exchanges, so there might be more. I hope that they will be smart enough and will go in a sympathic country that will let them do what they want.

redsn0w

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#Free market

Quote from: Amph on February 28, 2016, 09:47:12 AM

Quote from: redsn0w on February 28, 2016, 08:36:45 AM

Quote from: xuan87 on February 28, 2016, 08:35:15 AM

Its a bad news, i am using bitcoin because of the anonymous factor, if this really happen, i think i will try to look for other coin that can provides anonymity

bitcoin has never been so anonymous...it is/was rather pseudo-anonymous.

well it depend, there is a common mixconception here

bitcoin is actually fully anon if you only move your bitcoin from one place to another, unless you can telling me what was my lost coins that was moved from one address to another on the chain

instead if you associated a shipping address or you do it on a exchange with a bank account, i can agree that it's not anonymous anymore

This is why it should be considered pseudo-anonymous, it doesn't exist anything in this world that it can be considered 100% anonymous.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: redsn0w on February 28, 2016, 08:36:45 AM

Quote from: xuan87 on February 28, 2016, 08:35:15 AM

Its a bad news, i am using bitcoin because of the anonymous factor, if this really happen, i think i will try to look for other coin that can provides anonymity

bitcoin has never been so anonymous...it is/was rather pseudo-anonymous.

well it depend, there is a common mixconception here

bitcoin is actually fully anon if you only move your bitcoin from one place to another, unless you can telling me what was my lost coins that was moved from one address to another on the chain

instead if you associated a shipping address or you do it on a exchange with a bank account, i can agree that it's not anonymous anymore

Lauda

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Activity: 2674

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Terminated.

Quote from: phishead on February 28, 2016, 08:45:08 AM

Yeah, all mixing is going to do is possibly taint your coins even more with other coins that are there used for "criminal activities"... That's mainly why people mix Bitcoin's anyways. Then you could run into the problem of exchange sites not accepting your Bitcoin's if the amount of taint is too high. I know it's not so likely right now, but if all this government regulation comes about, they might force exchange sites to do this.

Unfortunately this is what a lot of people don't realize. The chances of getting 'tainted' coins when using a mixer are quite high IMO. This is why I avoid these methods and there are better ways of getting a different set of coins.

Quote from: phishead on February 28, 2016, 08:45:08 AM

This is one example of why fungibility is important.

Indeed.

Quote from: redsn0w on February 28, 2016, 08:36:45 AM

bitcoin has never been so anonymous...it is/was rather pseudo-anonymous.

Exactly. A lot of people seem to misunderstand this anonymity. There are better variants if you need more anonymity (e.g. Monero). I doubt that they'd legalize a completely anonymous coin though.

LoyceV

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Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: franky1 on February 28, 2016, 08:20:00 AM

you can mix coins all you like. but if your going to convert it back to FIAT.. you need to expect to be taxed

Central governments are desperately trying to maintain their power. This FIAT-exchange is just a temporary thing, the moment you can just pay with bitcoin, it won't be needed anymore.
Who needs a prepaid card if you can just pay by scanning a QR-code?

phishead

hero member

Activity: 1874

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Keep what's important, and know who's your friend

Quote from: franky1 on February 28, 2016, 08:20:00 AM

Quote from: n691309 on February 28, 2016, 08:18:06 AM

They want to control everything guys, because people through bitcoin will not pay taxes and other duties to the government. Will the mixers help people avoiding these taxes?

you can mix coins all you like. but if your going to convert it back to FIAT.. you need to expect to be taxed

Tax something they deem illegal and also supports "terrorism". Beautiful.

Yeah, all mixing is going to do is possibly taint your coins even more with other coins that are there used for "criminal activities"... That's mainly why people mix Bitcoin's anyways. Then you could run into the problem of exchange sites not accepting your Bitcoin's if the amount of taint is too high. I know it's not so likely right now, but if all this government regulation comes about, they might force exchange sites to do this.

This is one example of why fungibility is important.

NUFCrichard

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Activity: 1218

Merit: 1003

Quote from: xuan87 on February 28, 2016, 08:35:15 AM

Its a bad news, i am using bitcoin because of the anonymous factor, if this really happen, i think i will try to look for other coin that can provides anonymity

It is typical, they find that bitcoin isn't being used for terrorism, but they need to control it anyway.
I don't mind having a KYC for a reputable exchange, but when I spend my bitcoin at a bitcoin accepting establishment, there should be anonymity.

We don't have to show ID when we pay in cash, it should be the same for bitcoin

n691309

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Activity: 1526

Merit: 1001

Quote from: redsn0w on February 28, 2016, 08:32:21 AM

Quote from: n691309 on February 28, 2016, 08:23:28 AM

Quote from: franky1 on February 28, 2016, 08:20:00 AM

Quote from: n691309 on February 28, 2016, 08:18:06 AM

They want to control everything guys, because people through bitcoin will not pay taxes and other duties to the government. Will the mixers help people avoiding these taxes?

you can mix coins all you like. but if your going to convert it back to FIAT.. you need to expect to be taxed

I understand now, at the end point we need to expect to be taxed, maybe selling privately person to person would avoid taxes? I don't think we need to pay taxed for private deals.

Or you can use bitcoin directly to buy whatever you want Wink

without convert BTC to fiat.

Yes, this is the best case buying directly through bitcoins as some deals here in the Goods board.

Quote from: European Central Bank on February 28, 2016, 08:26:31 AM

If you're making profit then you're gonna be taxed. Avoid if you like but if you have a lot then take the hit and keep smiling. Sounds like a lot of work hiding big amounts of money.

What if i didn't made any profit, let's say that i lost 1% trading on exchanges and want to get out of the 'game', why should i pay taxes?

redsn0w

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Activity: 1778

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#Free market

Quote from: xuan87 on February 28, 2016, 08:35:15 AM

Its a bad news, i am using bitcoin because of the anonymous factor, if this really happen, i think i will try to look for other coin that can provides anonymity

bitcoin has never been so anonymous...it is/was rather pseudo-anonymous.

xuan87

legendary

Activity: 1666

Merit: 1001

Its a bad news, i am using bitcoin because of the anonymous factor, if this really happen, i think i will try to look for other coin that can provides anonymity

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

Quote from: n691309 on February 28, 2016, 08:23:28 AM

Quote from: franky1 on February 28, 2016, 08:20:00 AM

Quote from: n691309 on February 28, 2016, 08:18:06 AM

They want to control everything guys, because people through bitcoin will not pay taxes and other duties to the government. Will the mixers help people avoiding these taxes?

you can mix coins all you like. but if your going to convert it back to FIAT.. you need to expect to be taxed

I understand now, at the end point we need to expect to be taxed, maybe selling privately person to person would avoid taxes? I don't think we need to pay taxed for private deals.

Or you can use bitcoin directly to buy whatever you want Wink

without convert BTC to fiat.

European Central Bank

legendary

Activity: 1288

Merit: 1087

If you're making profit then you're gonna be taxed. Avoid if you like but if you have a lot then take the hit and keep smiling. Sounds like a lot of work hiding big amounts of money.

n691309

legendary

Activity: 1526

Merit: 1001

Quote from: franky1 on February 28, 2016, 08:20:00 AM

Quote from: n691309 on February 28, 2016, 08:18:06 AM

They want to control everything guys, because people through bitcoin will not pay taxes and other duties to the government. Will the mixers help people avoiding these taxes?

you can mix coins all you like. but if your going to convert it back to FIAT.. you need to expect to be taxed

I understand now, at the end point we need to expect to be taxed, maybe selling privately person to person would avoid taxes? I don't think we need to pay taxed for private deals.

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: n691309 on February 28, 2016, 08:18:06 AM

They want to control everything guys, because people through bitcoin will not pay taxes and other duties to the government. Will the mixers help people avoiding these taxes?

you can mix coins all you like. but if your going to convert it back to FIAT.. you need to expect to be taxed

Soros Shorts

donator

Activity: 1617

Merit: 1012

Quote from: DimensionZ on February 28, 2016, 07:56:44 AM

So now I need to give out my ID card to the kiosk guy I am buying a pre-paid card form?

Well in the US what they make you do is register your pre-paid card with the bank online before you can fully unlock it. You can still buy reloads from the kiosk anonymously but you usually can't use them to refill an unregistered card. It wasn't like this just a couple of years ago.

n691309

legendary

Activity: 1526

Merit: 1001

They want to control everything guys, because people through bitcoin will not pay taxes and other duties to the government. Will the mixers help people avoiding these taxes?

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: DimensionZ on February 28, 2016, 07:56:44 AM

Why are they targeting pre-paid cards too? I haven't heard of anyone laundering money through such cards and there are far better, more inconspicuous ways to transfer money than through pre-paid cards. So now I need to give out my ID card to the kiosk guy I am buying a pre-paid card form?

whats next... giftcards?

imagine getting a giftcard for someone, but being told you need to fill in a form, name, D.O.B, social security number, address. and then when you gift it to someone they too need to register their details.

and then bam.. arrested for laundering money because the recipient is not the same person as the gifter.

it makes me laugh but its all possible

DimensionZ

sr. member

Activity: 350

Merit: 251

Shit, did I leave the stove on?

Why are they targeting pre-paid cards too? I haven't heard of anyone laundering money through such cards and there are far better, more inconspicuous ways to transfer money than through pre-paid cards. So now I need to give out my ID card to the kiosk guy I am buying a pre-paid card form?

Lauda

legendary

Activity: 2674

Merit: 3000

Terminated.

Well this certainly was not proposed by someone smart. There is nothing really that they can do about it. This is a very foolish act when in fact only a small percentage of illicit actions are tied to digital currencies. I'd like to see how exactly they plan on doing this.

Quote from: SFR10 on February 28, 2016, 07:29:20 AM

What their trying to do is to take control and it has been like this forever.

Indeed. Just another attempt to take more of our privacy and control over more aspects of our lives.

Topic: EU Plans To End Anonymity For Bitcoin And Prepaid Card Users (Read 1097 times)