Other countries have regulations, not all countries apply the same law to Bitcoin.
So far there has been no violation of Bitcoin transactions that are burdensome to the government, essentially while you can invest in Bitcoin do it, complaining that the solution is not good,
the news circulated variously, the point: Bitcoin is still running today.
Topic: Government sanctions on Bitcoin - What impact will they have? - page 2. (Read 313 times)
Does that mean governments might start marking all dangerous addresses?
Nothing's stopping governments from doing this, but this should be fairly easy to bypass for the people involved as they can always generate new addresses. A marked address is essentially useless though, as authorities are likely willing to burn through resources to trace transactions with blockchain analysis.
How will BTC still be censorship resistant if govts would prosecute people for transacting with certain addresses?
It has always been bad practice to reuse addresses, so if you have reason to worry about this, you can simply use a different address for each transaction. It's very unlikely for them to tag addresses with very few transactions.
Bitcoin protocol is censorship proof - yet, no worries.
This has the effect that for people/companies that disclose bitcoin addresses, they may be subject to sanctions. But for undisclosed bitcoin addresses, underground transactions can’t be blocked.
Hey there, so i came across a report from a regtech company about the latest sanctions on 2 Iran-related addresses.
Does that mean governments might start marking all dangerous addresses? How will BTC still be censorship resistant if govts would prosecute people for transacting with certain addresses?
Does that mean governments might start marking all dangerous addresses? How will BTC still be censorship resistant if govts would prosecute people for transacting with certain addresses?
the protocol is still censorship resistant.
the U.S. government might be able to punish you after the fact for transacting with sanctioned persons, but they can't stop the transactions from occurring. that's what censorship resistance is about!
Does that mean governments might start marking all dangerous addresses? How will BTC still be censorship resistant if govts would prosecute people for transacting with certain addresses?
Illegal activities make law enforcement go after people doing illegal things.... go figure.
This is the third thread about this suggesting it means bitcoin has a problem.
People breaking the law and getting chased by authorities isn't a flaw in bitcoins protocol.
this seems to me like more of a drama and a political move rather than being an actual thing. and the reason for it is most probably due to the fact that usage of bitcoin has been growing in Iran despite this country being under heavy sanctions.
I seriously doubt that US government is dumb enough to think listing 2 bitcoin addresses as "sanctioned" can change anything or even prevent these 2 users from continuing their usage of bitcoin.
I seriously doubt that US government is dumb enough to think listing 2 bitcoin addresses as "sanctioned" can change anything or even prevent these 2 users from continuing their usage of bitcoin.
This is only applicable on the US though, and other countries don't necessarily need to comply with the US sanctions as they have their own say and entirely different jurisdiction for the said matter. This just goes to show how bully the US can be on anything that they think they can get their hands on, and bitcoin is no exception. They can mark any potential 'dangerous' addresses there are but it will make no difference given that at a certain point, the sphere of addresses that can transact with the marked address will only grow, and that might cause problems for people who aren't involved in the case.
Hey there, so i came across a report from a regtech company about the latest sanctions on 2 Iran-related addresses.
Does that mean governments might start marking all dangerous addresses? How will BTC still be censorship resistant if govts would prosecute people for transacting with certain addresses?
I know there can be a lot of addresses, that's not the point. If blockchain analysis keep on improving, this might be a big threat.
UST press release: https://home.treasury.gov/news/press-releases/sm556
My source: https://www.coinfirm.com/blog/iran-sanctions-more-in-high-risk-addresses-of-the-month-series-by-amlt
Does that mean governments might start marking all dangerous addresses? How will BTC still be censorship resistant if govts would prosecute people for transacting with certain addresses?
I know there can be a lot of addresses, that's not the point. If blockchain analysis keep on improving, this might be a big threat.
UST press release: https://home.treasury.gov/news/press-releases/sm556
My source: https://www.coinfirm.com/blog/iran-sanctions-more-in-high-risk-addresses-of-the-month-series-by-amlt
Jump to: