Topic: How can a goverment trace you have BTC? - page 8. (Read 4077 times)
If Venezuela bans bitcoin then most probably you won't get tracked at least easily. Only thing to track us easily is when we exchange our bitcoin to fiat on a local exchange where KYC is for sure necessary.
There are few ways through which government can easily track that you have bitcoin and other cryptos. First is the data from exchanges which is readily available to governments and second is kyc data.
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?
no, they can't
even though they can see a list of transactions for a bitcoin address
but still they do not know who owns the bitcoin address
so it's better to keep quiet and not say anything about your bitcoin assets and not tell anyone your bitcoin address
Maybe by tracking the wallet that is used as a transaction tool every time so the government has someone's data when registering an account as an intermediary to find the income and they become unable to do what they want when the government in a country starts to ban the existence of bitcoin.
i think they can guess you have BTC by trace your IP, MAC address , although BTC wallet is anonymous but still leave signal and IT expert can trace.
If you follow KYC then you are already known by the government indirectly the government knows you are a Bitcoin user, the Government can find you with an exchange of money. The government can track with your registered KYC. It is very unlikely that we cannot be traced by the government if we still always receive money from exchanges every day or month.
The account address in the Bitcoin network is anonymous and cannot be associated with a specific individual from the transaction information, but it also means that it is difficult to track!
But as long as you have some information, you can track the status of the BTC through the transaction information on the blockchain!
But as long as you have some information, you can track the status of the BTC through the transaction information on the blockchain!
no they can't all transaction are anonymous that's why it's a good thing to be decentralized. the only way they can track you is if you put your information in any site like using kyc. But i think banned means it's only prohibited to use it not to hold or have any of crypto
Even if you have to pass KYC, there is no problem. You can generate a new address and you will become anonymous again.
If your neighbors suspected you trading bitcoin then there's a chance they will report you and the police will come to inspect if it's true and you know that they will find that out easily unless you throw all your cellphones and pc/laptop and get it destroyed permanently. But I don't think your country would really exert so much effort just to trace it citizens they have btc because it is not a strict very law.
Well it is more than easy if you have already provided your KYC to an ICO or something related to that (as an example, an exchange, or any other entity) so that is the main reason
there are lots of possibilities of tracing i mean also there are lots of programs that government can trace you only by knowing your name and thats it.
It is very difficult to trace it unless there are new regulations that requires us to submit some documents and fill up some forms before we cam cash out our funds
I agree, government can track us if we have btc by submitting our wallet wherein they can locate our btc. This is the way they can trace our btc and by doing kyc could help them trace our transactions daily. 
Usually it's easy to track cryptocurrency transaction but hard to relate that transaction to a specific person. They need a starting point connected to you, such as a exchange that has your personal info. If you only buy and sell cryptos than it's almost impossible to prove you own a wallet.
It is very difficult to trace your BTC account.
The only way to trace that you have BTC is when you convert your BTC to cash. Unless, you just need your BTC and not cash. No problem with you.
The only way to trace that you have BTC is when you convert your BTC to cash. Unless, you just need your BTC and not cash. No problem with you.
It is very difficult to trace it unless there are new regulations that requires us to submit some documents and fill up some forms before we cam cash out our funds
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 you will not be tracked. Because bitcoin is anonymous. so the government will not be able to track you even if you use bitcoin. You must keep yourself from others. I think you will stay safe. And use bitcoin carefully. You will not be tracked by your government.
It decentralized nature won't makes it easy for them, but they can regulate a centralized to do kyc for users with registered wallet, with that they can trace the address and match with the photo
You have no right to be punished, if you are punished because you have bitcoin, then you should ask them, "If I have bitcoin, what is the negative impact on this country (venezuela)?
surely they will be confused. Is the bitcoin in venezuela banned 100% (although only have it)
Defense your self cause you are not criminal you are only bitcoin user .There's no right to punished you. I think your fellow mens are not open minded in this kind of business. surely they will be confused. Is the bitcoin in venezuela banned 100% (although only have it)
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?
Hodler to f bitcoin can't trace by the government there's only the platform exchange can know the identity of the hodler's of bitcoin, because the exchange are requiring to validate the users submitted to vaid identification for money laundering purposes.
no they can't all transaction are anonymous that's why it's a good thing to be decentralized. the only way they can track you is if you put your information in any site like using kyc. But i think banned means it's only prohibited to use it not to hold or have any of crypto
Even if you have to pass KYC, there is no problem. You can generate a new address and you will become anonymous again.
Jump to: