Topic: How can some fraudulent people be discouraged from using cryptocurrency ? - page 3. (Read 326 times)
March 18, 2019, 12:09:22 AM
It's quite hard and goes against the basic purpose of cryptos which is privacy, cash is regulated but it's still used for money laundering, right?
March 14, 2019, 12:31:00 PM
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
As regards this main concern of yours, it is actually one of the setbacks we presently have in they crypto space.I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
The only way or means it can be easily traced, which we have for now, is through cryptocurrency exchange and that is of such exchange is ready to cooperate with those investigating, to apprehend the person or persons.
We all know that some exchanges demand for kyc to be completed before certain amount of withdrawal or before the use of their exchange sites. So that in itself is a means.
March 14, 2019, 12:15:45 PM
Technically it is possible. There are probably programs that track the transaction chain, so even the mixer can be tracked. Thus, if it is known that a user is related to at least one address, everything is possible.
Blockchain is not created for anonymity.
Unfortunately, scammers can take this into account and use fake people or something like that.
Blockchain is not created for anonymity.
Unfortunately, scammers can take this into account and use fake people or something like that.
March 14, 2019, 11:55:00 AM
Before I joined crypto space, I used to watch some series where cryptocurrency is used as a payment for business there.
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
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