Topic: Indirectly bitcoin is not illegal in india,i think. (Read 1115 times)

Quote from: btvGainer on April 30, 2016, 05:17:07 PM

Quote from: btvGainer on May 06, 2016, 04:58:45 PM

Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India.
However, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P.
Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily.

Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be traced

It's really easy, yes it's really easy.
I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily.

I also said that it can be traced if it is converted into fiat.What if it is kept in online wallet?
What if someone uses mixer,will it still be that easy?

You can keep it in your wallet as long as it is mixed enough.
I usually due to paranoia mix my coins using Joinmarket for about.... 32 times..
If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity.

to be honest i don't know all about mixing coin.i heard about this many times but didn't got what is this. i also know bitmixer.io but why people use it and how to use.will i be anonymous by using mixing coin?can you please clear my doubts?

Correction: You will not be anonymous, you will be PSEUDONYMOUS if you properly mix it.

Quote from: mynameisdon on May 06, 2016, 11:05:12 AM

Quote from: btvGainer on April 30, 2016, 05:17:07 PM

Quote from: mynameisdon on May 06, 2016, 11:05:12 AM

Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India.
However, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P.
Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily.

Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be traced

It's really easy, yes it's really easy.
I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily.

I also said that it can be traced if it is converted into fiat.What if it is kept in online wallet?
What if someone uses mixer,will it still be that easy?

You can keep it in your wallet as long as it is mixed enough.
I usually due to paranoia mix my coins using Joinmarket for about.... 32 times..
If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity.

to be honest i don't know all about mixing coin.i heard about this many times but didn't got what is this. i also know bitmixer.io but why people use it and how to use.will i be anonymous by using mixing coin?can you please clear my doubts?

A simple Google search could have helped you.
"... When mixing
bitcoins, you send
your money to an
anonymous service
and, if they are
well-intentioned,
they will send you
someone else's
tainted coins. So,
now, whatever
those coins were
used for may now
be traceable back
to you..."
Read the whole article here https://en.bitcoin.it/wiki/Mixing_service

There the problem lies, if you trust a centralized mixing service, you are bringing your own fate closer.
If you don't want to trust a mixing service, use JOINMARKET instead!

btvGainer

legendary

Activity: 854

Merit: 1000

Quote from: btvGainer on April 30, 2016, 05:17:07 PM

Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India.
However, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P.
Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily.

Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be traced

It's really easy, yes it's really easy.
I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily.

I also said that it can be traced if it is converted into fiat.What if it is kept in online wallet?
What if someone uses mixer,will it still be that easy?

You can keep it in your wallet as long as it is mixed enough.
I usually due to paranoia mix my coins using Joinmarket for about.... 32 times..
If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity.

to be honest i don't know all about mixing coin.i heard about this many times but didn't got what is this. i also know bitmixer.io but why people use it and how to use.will i be anonymous by using mixing coin?can you please clear my doubts?

A simple Google search could have helped you.
"... When mixing
bitcoins, you send
your money to an
anonymous service
and, if they are
well-intentioned,
they will send you
someone else's
tainted coins. So,
now, whatever
those coins were
used for may now
be traceable back
to you..."
Read the whole article here https://en.bitcoin.it/wiki/Mixing_service

mynameisdon

sr. member

Activity: 322

Merit: 250

i am don(ripper's big daddy).i clean scammers.

Quote from: btvGainer on April 30, 2016, 05:17:07 PM

Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India.
However, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P.
Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily.

Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be traced

It's really easy, yes it's really easy.
I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily.

I also said that it can be traced if it is converted into fiat.What if it is kept in online wallet?
What if someone uses mixer,will it still be that easy?

You can keep it in your wallet as long as it is mixed enough.
I usually due to paranoia mix my coins using Joinmarket for about.... 32 times..
If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity.

to be honest i don't know all about mixing coin.i heard about this many times but didn't got what is this. i also know bitmixer.io but why people use it and how to use.will i be anonymous by using mixing coin?can you please clear my doubts?

btvGainer

legendary

Activity: 854

Merit: 1000

Quote from: btvGainer on April 30, 2016, 05:17:07 PM

Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India.
However, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P.
Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily.

Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be traced

It's really easy, yes it's really easy.
I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily.

I also said that it can be traced if it is converted into fiat.What if it is kept in online wallet?
What if someone uses mixer,will it still be that easy?

You can keep it in your wallet as long as it is mixed enough.
I usually due to paranoia mix my coins using Joinmarket for about.... 32 times..
If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity.

Thanks for the advice.I dont have lots of coins so I dont think I need to go through all this

Pkzone

full member

Activity: 154

Merit: 100

I2VPN Lead developer.Antidote to 3-letter agencies

Quote from: btvGainer on April 30, 2016, 05:17:07 PM

Quote from: polynesia on May 02, 2016, 07:51:59 PM

Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India.
However, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P.
Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily.

Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be traced

It's really easy, yes it's really easy.
I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily.

I also said that it can be traced if it is converted into fiat.What if it is kept in online wallet?
What if someone uses mixer,will it still be that easy?

You can keep it in your wallet as long as it is mixed enough.
I usually due to paranoia mix my coins using Joinmarket for about.... 32 times..
If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity.

cryptoheadd

hero member

Activity: 1036

Merit: 501

Quote from: btvGainer on April 29, 2016, 06:10:15 AM

Quote from: bitcoinisfurture on April 29, 2016, 12:16:51 AM

I think policy makers are trying to understand how much can it be useful and its sustainability and stability in the future. In short term they can't decide and then take a u-turn suddenly if they are not comfortable. Also due to misuse of bitcoin is also one of the biggest factor that they will be worrying about.

Given the Indian politicians attitude,I can assure you we would be the last nation to regulate bitcoin.
Bitcoin is a currency and like fiat it can be used for good or bad purpose.It doesn't make bitcoin bad itself

If politicians see the benefits of bitcoin, they will just let it stay unregulated.
Bribe taking will move from cash to bitcoins. Wink

True.
But then, eventually, this would be the reason for regulation or maybe even banning of Bitcoin. Grin

btvGainer

legendary

Activity: 854

Merit: 1000

Quote from: btvGainer on April 30, 2016, 05:17:07 PM

Quote from: btvGainer on April 29, 2016, 06:10:15 AM

Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India.
However, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P.
Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily.

Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be traced

It's really easy, yes it's really easy.
I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily.

I also said that it can be traced if it is converted into fiat.What if it is kept in online wallet?
What if someone uses mixer,will it still be that easy?

polynesia

legendary

Activity: 1358

Merit: 1000

Quote from: bitcoinisfurture on April 29, 2016, 12:16:51 AM

I think policy makers are trying to understand how much can it be useful and its sustainability and stability in the future. In short term they can't decide and then take a u-turn suddenly if they are not comfortable. Also due to misuse of bitcoin is also one of the biggest factor that they will be worrying about.

Given the Indian politicians attitude,I can assure you we would be the last nation to regulate bitcoin.
Bitcoin is a currency and like fiat it can be used for good or bad purpose.It doesn't make bitcoin bad itself

If politicians see the benefits of bitcoin, they will just let it stay unregulated.
Bribe taking will move from cash to bitcoins. Wink

Pkzone

full member

Activity: 154

Merit: 100

I2VPN Lead developer.Antidote to 3-letter agencies

Quote from: btvGainer on April 30, 2016, 05:17:07 PM

Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India.
However, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P.
Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily.

Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be traced

It's really easy, yes it's really easy.
I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily.

btvGainer

legendary

Activity: 854

Merit: 1000