How can a goverment trace you have BTC? - page 13.

forestharvest

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Quote from: fernandoaleixo on May 14, 2018, 04:05:17 PM

How can the government discover I own BTC, let's say I'm from Venezuela where crypto is banned, what they can do to discover and arrest me?

From what i know KYC is the only method that is available for third party including government ti know whether are you holding any coins and even bitcoins. I does not think the government is able to track if you have any bitcoin. What the government can do is block the websites to trading of cryptos so as to stop crypto trading in the country, or tracking of IP address might be another method.

gabmen

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Quote from: fordrenok on July 21, 2018, 07:46:15 AM

Yes, there is some way that bitcoin transaction being tracked back. Everyone can see the transaction, after all. That's why what so-called "privacy coin" exist. They provide better transaction system that untraceable, for example, is monero.moreover this is digital currencies which the wallet aren't written any name that belongs to you so they can't trace it.

They probably won't since your wallet is anonymous. That is if you're keeping your btcs in your personal wallet. Exchanges i think can be tracked already with more of them now requiring kyc verification.

fordrenok

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Yes, there is some way that bitcoin transaction being tracked back. Everyone can see the transaction, after all. That's why what so-called "privacy coin" exist. They provide better transaction system that untraceable, for example, is monero.moreover this is digital currencies which the wallet aren't written any name that belongs to you so they can't trace it.

Bondho Kompeni

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The most important feature that people love is anonymous, with anonymous then making anyone can never be traced, this is what makes many governments afraid to legalize bitcoin for fear of being used to avoid taxes.

kingofworld92

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The government will not easily track you. The government can not track anyone with bitcoin as long as you put your bitcoin in a secured electronic wallet without your identity. That is the advantage of electronic money especially if you have a lot of bitcoin or other altcoin that costs a lot of money or money.

interestinglie

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The government does not have the means to track your use of the BTC unless you sign up for a platform with KYC because to use that platform you will need to send the identifier and pass KYC. It uses blockchain and so it will not be possible that the government will discover you as a user. Just be careful and just keep it for yourself that you use bitcoin.

sri.bima

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The ownership of Bitcoin in my opinion can not be a proof of someone's arrest if it is not against the norms of life around the world or unfavorable transactions such as drug trafficking, trafficking and other illegal transactions. they must know anyone who was directly buoyed with Cryptocurrency as long as there is no problem they are silent not disputed .

lobster88

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I don't think that the government will be able to trace us that we are the Bitcoin users because we all know and aware that the Bitcoin is a decentralized cypto currency that let's our identities all anonymous.

abiola4real

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Its will be EASY for them to trace those holding bitcoin through exchange sire because when registering on exchange we fill most of our details and send i d verification documents.

adejoke444

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The reason they will be unable to track it is because bitcoin and most other altcoin are created for decentralized purpose where it wont be easy to access someone identity.

LeonJayden.

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It is impossible because btc acts in deep web, and it is anonymous

mathew232

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Quote from: fernandoaleixo on May 14, 2018, 04:05:17 PM

How can the government discover I own BTC, let's say I'm from Venezuela where crypto is banned, what they can do to discover and arrest me?

I think it is not that simple to track that you own bitcoin unless you reveal or identity or use any document for the kyc in airdrop or ICO.

elpape225

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rickyNmorty

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Quote from: fernandoaleixo on May 14, 2018, 04:05:17 PM

How can the government discover I own BTC, let's say I'm from Venezuela where crypto is banned, what they can do to discover and arrest me?

As far as i know, the government can know your identity if you put you name, or such other personal information in your wallet. It is safer to use anonymous if you are about to enter in it especially if your country bans it. But as a user you might consider asking the government what are there factors in banning bitcoin at the same time you can encourage them to let bitcoin enter to your country. Bitcoin is a huge help.

James Fleming

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You cannot find this user’s identity. Let’s see how Bitcoin system works;

No one knows who holds a particular bitcoin address. It’s like having a clear plastic wallet with no visible owner. Everyone can look inside it, but no one knows whose it is. However, it’s worth pointing out that people who use bitcoin unwisely (such as always using the same bitcoin address, or combining coins from multiple addresses into a single address) risk making it easier to identify them online. You can have the same wallet but you can use a lot of addresses. Most digital wallets make a new bitcoin address for you every time you make a transaction. But if you use a public address (for example if you post your address on your e-shop) then it’s easy to find how many bitcoins are stored in this address. Not your wallet. So, practically, it’s very difficult to identify a bitcoin user nowadays.

Sydney Chapman

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A lot of people are spreading information that is wrong. The truth is though bitcoin addresses are anonymous, a few different companies exist that specialize in analyzing the blockchain and given enough time will figure out who owns what and where funds came from.

For example, lets say your friends signs up with coinbase and buys Bitcoin. He uses his Email address to sign-up, he then sends you Bitcoin, you then send Bitcoin to another registered user. Given enough of these types of transactions a company that specializes in block analysis could potentially figure out who you are and where the funds come from and where and who you have sent them too.

Though you might not be able to trace the person, there are companies that you can hire to do this and the government definitely can.

The only way to stay 100% anonymous is to use a privacy coin like Monero and an anonymous browser when logging into exchanges and paying for things with those privacy coins.

trangprooss1

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I do not think they have any rules that allow them to do that. Bitcoin is a hierarchy. Also, the username is anonymous. Although, it might be possible if you traded in a system that needed your information or paid or exchanged through fiat, then they could locate you.

jelbert1351

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Yeah in the first place. I really can't fathom it how can they trace how much crypto do we have when bitcoins can be anonymous not unless you have the public address, but ofcourse address could be unlimited.

Marjo04

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Government cant trace bitcoin users.but same here in our country we have wallet/exchanger that need to do kyc and put information about us.so maybe theres a possibility that they can trace us through that wallet.

swabelang

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Well, government cant trace that you have BTC unless your account is not private and you show your identity, btc is anonymous. so, government didn't waste their time by tracing your btc because they have many things to do in their country as well.

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