Topic: How can a goverment trace you have BTC? - page 27. (Read 4077 times)
The government can trace you that you have bitcoin holding if you let them know that you have it, no one know that you have it if you don't speak with them, the word of mouth can spread so fast especially to your friend so be careful sometimes, kyc is the thing i'm afraid also that could leak my personal info to the government.
From what I understand, the government will be able to trace the transaction with BTC that you made when you cashout it on a payment processing establishment/company in your country. They'll be able to do that because most of these companies require you to provide KYC documents before letting you cashout your money from them. This will be the only thing that I can think of where they'll be able to link your name to any BTC transaction.
This is very true mate. What about you sending your details to a trusted relative, let's say a direct brother living in another country to carry out the transactions when issues of KYC pops up. Can the Government still track you?
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?
Owning and holding bitcoin is still not a crime and is not banned anywhere, those countries who has banned crypto, bans only the use of crypto from their domestic exchanges only, they have no right to ban from owning the bitcoin because bitcoin is itself a decentralised crypto currency and no one can arrest you by owning and banning of bitcoins because in my country India too, bitcoin is banned but still I can own bitcoins.
It will be hard to tract someone with Bitcoin unless you reveal to them your wallet address. with so much population with Bitcoin all over the world, they will not pinpoint someone specifically where they are and the exact address where they live. so very hard to trace.
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?
They cannot trace you. First, where did you get your bitcoin ? If you buy it from exchange, there will be a detail about your identity if you
used your money to buy bitcoin. The government just need to see your data identity in the exchange where you buy it.
I think it will happen if they keep track of your Bank account, transactions in the Bank account, if your account back in touch with bitcoin and exchanger government can track you with your transaction only speculation me, track activity bitcoin useless for would be very difficult for them
If you trade your bitcoin with local currency. you will definitely receive some money when withdraw into local currency. if your assets get bigger there will be a question from the government. from where did you get the money and how much your income. if the government in your country have the rules about tax crypto. you are very likely taxable for it.
its from my experience from the past. luckily my goverment not have any tax for crypto.
its from my experience from the past. luckily my goverment not have any tax for crypto.
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?
the government can track you with the identity you use to create a personal wallet in the market, where the bank receives Bitcoin and becomes a small market in your country.
actually bitcoin is easy to track if you find out about bitcoin and ask people who use bitcoin and they can get into your wallet. And it would be easy for the government to track bitcoin.
It is not easy and the Government can not track the owner of bitcoin because it is untraceable and only the number of bitcoins can be seen. The cause of bitcoin is difficult to track, because bitcoin has blockchain technology it has a decentralized system.
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?
The only way anyone to know if you have Bitcoin is to look at your wallets. But they can not do it without the evidence. So do not be afraid of it. All you have to do is do not tell anyone that you have bitcoins and if you can sell it abroad where bitcoins are legal.
I don't know how the government find you or know you if you have bitcoin. Because it's hard to know i think because the only way to know if the givernment see your IP. I hope the scammer and the hacker will trace so they go to jail. But it's totally hard for sure.
If your walllet doesnt use SSL then your ISP knows it's yours and thus can inform your government.
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?
They will know you have bitcoin if you buy bitcoin from the exchange that required your identity to buy.
Many exchanges will require KYC before you can buy cryptocurrency with your fiat money. This is the way they can trace you.
If the government discover my own BTC, I say cryptocurrency is banned.
Government can't trace the owner of bitcoin as this is untraceable and only just the amount of bitcoin can be seen. Just read the whitepaper and you'll see that bitcoin is decentralized and no one have a full control to it. Nothing to be broad about.
The government can only track you if your buy or selling your coins with exchangers that requires kyc or identification. It actually depends on you if you want them to trace you and get you caught for disobeying their rules and regulations.
Bitcoin is not traced because its users can make it without giving their real name, so I do not think you can catch them how they know you have btc while BTC does not mention the name of the BTC owner.
Then you should think about transactions, addresses, access to the internet, and other minor details. In some countries, the Internet is devoted to greater security and services can make such things happen. So you can not get caught on hot.
They do have a lot of ways in order to track if the person has a btc. Hacking, and also tracking. I believe there were certain softwares for tracking.
when any exchange use KYC - that means that user is open to any government tracking.
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