Topic: How can a goverment trace you have BTC? - page 37. (Read 4077 times)
Nah, It's quite impossible especially that the system is decentralized. No one can ever know your identity nor trace you not unless you blatantly disclosed your identity to others in which they could use as "probable cause" or an evidence against you whenever your transacting party tagged you as a scammer or a thief. That's the only thing I think that your government can track and arrest you. But technologically speaking they can't as there are tons or millions of transactions are made every second.
There is no way the government can trace you have btc. Unless, the exchange discloses your identity to the government. bitcoin is created for anonymity if the government requires the user information then that's how they can trace you have a bitcoin
That's right governments connot trace our BTC, how it could be? It is impossible, bitcoin is very secure. Government connot trace you, because doing bitcoin is everywhere it is decentralized. Every where you go, you can manage to use bitcoin, how can government trace it. Bitcoin is very secure nothing to worry.
All you have to understand is that you are free to have the bitcoin of the country you live in prohibiting the use of bitcoins. But the problem is when a country prohibits the use of bitcoin for a means of payment and you violate it and this is called illegal, the government will find you in their own way. One of them with local exchange, the government will find your identity if you have bitcoin and make transactions using local exchange.
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 the government can do, and that's the way I'm not sure yet, because there are many options which can be followed and even you can't protect yourself, you can certainly try skritt that either.
Why should government arrest you? It's not illegal. Moreover, government cannot trace your account. RBI has only told to use it with caution.
There is no way the government can trace you have btc. Unless, the exchange discloses your identity to the government. bitcoin is created for anonymity if the government requires the user information then that's how they can trace you have a bitcoin
Absolutely have some ways to field search bitcoin users and got them.buy sell tracker in your country.2FA verification of your NIC card. exchange KYC verification. If you do not do transaction activity in Online Shop, or other official store, I think you will be safe.
I agree. Yes bitcoin is decentralized and we can say that the government cant trace who the bitcoin users are. But in my opinion, if our government would really want to know who we really are, of course they can, using the latest technology and the best intel they can have, I think they really can trace us, that is, if they really want to know. But I think they won't do it.
Government in different countries are mostly against bitcoin, because it far higher than the country currency and also far better than, because is a digital money that can be moved to next person, with out third party approval.
Well, as far as I know given my not so wide knowledge here in the crypto currency community, there no way that the government will be able to trace a certain people if he or she is having a Bitcoin. Because first and foremost, the Bitcoin is a decentralize which also has a peer to peer transactions. Unless you say it yourself to the crowd that you are a Bitcoin user.
Absolutely have some ways to field search bitcoin users and got them.buy sell tracker in your country.2FA verification of your NIC card. exchange KYC verification. If you do not do transaction activity in Online Shop, or other official store, I think you will be safe.
Theres no way the government will have ways to determine if someone has a bitcoin because it is decentralize and has a peer to peer transaction. However, if you will make a public announcement that you are a bitcoin holder and/or you have made a transaction to person whom you cannot trust, then there is a possibilities that you're governed will know your a bitcoin holder.
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 they can't trace us that we have a bitcoin because bitcoin is decentralized and no one can control even the government. It is difficult for the government to track our btc.
I do not think you are right.Government is smart enough to trace whenever you have something or not, they can trace you no matter what, maybe you see government as just facilitator oa a country but if you really look into it , how are they able to track scammers criminals or other bad people around them if they dont know how?,government has an extensive power, here in our country the cryptocurrency is observed by the government , how? that is one thing government can only know
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 dont know because I have never encounter something like this but we all know that every device that we use have an ip address so they know where you at and if that country is prohibiting the uses of bitcoins maybe they qill not allow bitcoins. Like for example you country will not allow you to browse those kind of website because they are banned. There are some sites that are block at the government so maybe that will hapoen to you no matter how you search it they will not appear.
Ever heard of VPNs or Virtual Private Network? In China, there's this great firewall of China (that's what they call it) and they can't even access social media sites that we can access without any hassle at all. Their government is really good at tracking down people and people are so scared of them. They don't wanna bad mouth the government on the Internet because they do know that the government will always find out that it was them who was talking badly of the government. Besides the IP address, the government can trace that you have bitcoins when you have an account to an exchange that required a KYC or an ID verification in order for you to cash out your bitcoins into money.
It is a tedious task for the government to find BTC information in the blockchain! The blockchain is a huge database, and every transaction information of the blockchain cannot be modified or deleted. You can find transaction records in the blockchain!
If you don't name your BTC, no one knows that this BTC belongs to you!
If you don't name your BTC, no one knows that this BTC belongs to you!
I mean, that sure is true but that's not going to be the way the government is going to find out about you because it doesn't necessarily directly link to you. The government controls the local exchange that you have. Let's face it, the government already has our information.
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 dont know because I have never encounter something like this but we all know that every device that we use have an ip address so they know where you at and if that country is prohibiting the uses of bitcoins maybe they qill not allow bitcoins. Like for example you country will not allow you to browse those kind of website because they are banned. There are some sites that are block at the government so maybe that will hapoen to you no matter how you search it they will not appear.
It is possible thru exchanges and KYCs. If you do exploit your identity or should I say some of your information, then don't be surprised that they are tracking you now and then. Be wary of clicking and trusting everything on the internet.
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 they can't trace us that we have a bitcoin because bitcoin is decentralized and no one can control even the government. It is difficult for the government to track our btc.
don't forget that your wallet needs to be registered on first place, and then that's how they trace 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?
I think they can't trace us that we have a bitcoin because bitcoin is decentralized and no one can control even the government. It is difficult for the government to track our btc.
No they can't trace an individual having a bitcoin or holding of any crypto. But the government can impose some fee on the transaction like additional fee when you go to an exchange. It is really possible like here in the Philippines that the exchange like coins.ph have been regulated by the government agency and the Bangko Sentral ng Pilipinas that gives coins.ph a license to operate. In this way coins.ph could be directed to get an additional fee for the government fundings in every exchange or transactions to be done.
Yeah right, this is maybe the reasons why the transactions fees keeps increasing, anyway, I also believe that tracking bitcoin holder is not possible most specially if their technology is not as high as other countries.
Prevent selling your Bitcoins locally (Inside your country), and use anonymous exchangers to sell them.
If you need Cash, you have to exchange to another online currency so you can sell it locally if you want, or using MoneyGram etc.
If you need Cash, you have to exchange to another online currency so you can sell it locally if you want, or using MoneyGram etc.
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