Topic: How can a goverment trace you have BTC? - page 16. (Read 4077 times)
It is difficult for Government or anyone to track your wallet because it is anonymous. But because you need to convert your cryptocurrencies to fiat currency, it may therefore be possible for the government to trace your transactions on the exchanges to your wallet because the agencies often do KYC for all their customers since they are regulated.
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?
It it not possible to the government to trace that you are a bitcoin users. There is a lot of software they can used to do it. Well, It depends on your case if they will arrest you and punish you to prison. It depends on what law covered this kind of activity. But I am hoping that it could not happen so we are free to work on bitcoin.
I think all the data about bitcoin holders is in the blockchain ledger, in fact I've read an article that says that if you commit a violation such as money laundering or financing terrorism via bitcoin will be easily tracked by the police, the police can easily track the location of time and transaction data others related to blockchain technology, so in conclusion even though we do not reveal the original identity as bitcoin holders, we must remain cautious in the transaction and never commit a crime.
It is possible to track bitcoin wallet during registration
with genuine personal data, real email address.Sometimes you are asked to provide photos and passport details, respectively, to identify the person will be very easy.
with genuine personal data, real email address.Sometimes you are asked to provide photos and passport details, respectively, to identify the person will be very easy.
Creating a personal wallet, the user does not need to check the passport data, or somehow confirm his identity somehow, so it's impossible to track who made the transaction.
You can lose anonymity only if you withdraw funds from the crypto exchange into offline.
You can lose anonymity only if you withdraw funds from the crypto exchange into offline.
The real issue is do they need to? Whenever you log on to the internet you leave a digital signature, if they think you are doing something illegal or a threat to the state they will find out about your transactions. If you are not a drug/arms dealer, master criminal or terrorist and you keep a low profile then most likely you will be ok.
You could set up an arms length structure to hold and trade your crypto, out of range and site of your government.
You could set up an arms length structure to hold and trade your crypto, out of range and site of your government.
It is possible that some transfers from certain Wallets have been tracked and each bank transfer has a certain list, to specify the name already listed in the government agency. Most importantly the government is not so stupid as to allow its people to act unlawfully
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 actually had a flash thought about this today; about locating/tracing someone who might have transfered bitcoin from a wallet to another. I do think that if you transfer from a registered wallet with a bank it becomes more easy for the government or anyone to have you traced.
Bitcoin transaction is anonymous so you won't get caught, just dont let them know your bitcoin address or anything just deny the fact that you're into cryptocurrency then you're good to go.
Bitcoin - relatively anonymous cryptocurrency transactions do not disclose the names of owners. At the same time, information on ongoing transactions is available to everyone, cuz records about them are stored in the public registry. Due to this, it is possible to trace and compare the identity of the owner with the bitcoin operations. There are many cases where criminals were tracked
An attempt to convert the crypto currency through the exchange into fiat money (dollars, euros, and other "traditional" currencies) is the moment at which the identity of the wallet owner can be identified.
But there are "Bitcoin mixer" or "Bitcoin tumbler" services. With this procedure, the user can transfer the crypto currency into a system that distributes money between hundreds of thousands of wallets inside it. After that, the bitcoins fall into the correct repository. But thanks to the distribution of funds through different wallets, it is impossible to establish a connection between the sender and the recipient. Such procedure costs 0.5-3% of the amount transferred.
An attempt to convert the crypto currency through the exchange into fiat money (dollars, euros, and other "traditional" currencies) is the moment at which the identity of the wallet owner can be identified.
But there are "Bitcoin mixer" or "Bitcoin tumbler" services. With this procedure, the user can transfer the crypto currency into a system that distributes money between hundreds of thousands of wallets inside it. After that, the bitcoins fall into the correct repository. But thanks to the distribution of funds through different wallets, it is impossible to establish a connection between the sender and the recipient. Such procedure costs 0.5-3% of the amount transferred.
Bitcoin transaction is untraceable movement, which can be liable of the user to let people know, which is not good to been announced for security, therefore government can not know, accept, it was expose by someone else, more over bitcoin is not a criminal business.
The government will not be able to track btc's existence, but it may be possible if the government allows banks to use btc as their means of transactions may the government will be able to track the existence of btc
I dont really know how you are going to be traced unless that you have someone close to you who has the idea of you engaging yourself in btc and then reports you to the authorities.
Same here, I don’t really know if government could trace if someone has a bitcoin; but in my guess, I think they cannot trace it, some of people are having an offline wallet so it is impossible to trace it at all.
Bitcoin, the Internet global currency using by the computer scientists, libertarians, and criminals, is no longer invulnerable. Although bitcoin designed to protect privacy. It nonetheless generates abundant public data.FBI Investigators try to connect the transactions publicly recorded in the bitcoin blockchain but they didn't connect where FBI didn't trace them so that government can't trace them.
I think it won't be easy because to track you cause it's anonymous and won't have record at all. if it's just banned then it's fine i think it's only ban for using in payment or buying goods
With the little knowledge I have I can say that there cant be anyway though but it depends on where you exchange it and how you do it. Those involved are the ones that can tell people what you are doing in the btc world.
I dont really know how you are going to be traced unless that you have someone close to you who has the idea of you engaging yourself in btc and then reports you to the authorities.
It will be difficult for any government to to that but with the aid of your bank where you do the transfer of your coin to it can be traced
We do not need government to trace our transactions because we have etherscan now that we can use
to see each transaction and we also have a history of seeing and withdrawing bitcoins.
Government can trace you have Bitcoin if you you publish your name and Bitcoin address online.
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