Is bitcoin's anonymity really a problem for the governments and regulations? - page 3.

CoinBateman

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Quote from: Small on November 23, 2015, 10:04:03 PM

It is hard for government to track the coins as addresses are pseudonymous means that they can't identity illegal fundings and money laundering. It is a slight problem since places like localbitcoins doesn't require ID and does not need to comply with the local policies. Even with regulated exchanges, people can still do trades underground and thus pose a problem for money laundering concerns.

Its not hard. They can do it very well actually.

croato

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I bet their real problem with Bitcoin is not anonymity. Their real problem is that they dont control it, cant reverse transactions and cant print more when they need more money.

dothebeats

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Lol at the fears on anonymity. Only those who wanted control fear it e.g. the government. For us who wanted more freedom on our money and our spending, it is nit a problem, really. If the governments are really sincere on taking care of people's interest, they should focus more on their problems and care less on bitcoin's pseudo-anonymous nature. Money laundering and illegal fundings might be an issue, but do governments know that only a tiny--microscopic--portion of that funds came from bitcoin and the rest are on fiat?

owm123

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Quote from: Small on November 23, 2015, 10:04:03 PM

It is hard for government to track the coins as addresses are pseudonymous means that they can't identity illegal fundings and money laundering. It is a slight problem since places like localbitcoins doesn't require ID and does not need to comply with the local policies. Even with regulated exchanges, people can still do trades underground and thus pose a problem for money laundering concerns.

So should CT or zerocoin be added to bitcoin, to make it even more anonymous? If governments worry about bitcoin pseudo-anonymity now, what will they say when it will be fully anonymous?

klf

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Quote from: Small on November 23, 2015, 10:04:03 PM

It is hard for government to track the coins as addresses are pseudonymous means that they can't identity illegal fundings and money laundering. It is a slight problem since places like localbitcoins doesn't require ID and does not need to comply with the local policies. Even with regulated exchanges, people can still do trades underground and thus pose a problem for money laundering concerns.

Yes it is correct. Because of this anonymity many governments are not ready to accept/support bitcoin as a payment processor officially. If one really want to hide their transaction then no one can find who has send that money so many governments worry. There are many options for you to buy bitcoins without any ID proofs not only localbitcoins.

Small

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Grow SMALL amount of BTC by earning it

It is hard for government to track the coins as addresses are pseudonymous means that they can't identity illegal fundings and money laundering. It is a slight problem since places like localbitcoins doesn't require ID and does not need to comply with the local policies. Even with regulated exchanges, people can still do trades underground and thus pose a problem for money laundering concerns.

owm123

sr. member

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Merit: 250

I was just reading this article:
Anonymity Recognized as Serious Problem with Bitcoin
https://coinreport.net/anonymity-recognized-serious-problem-bitcoin/

It says, among other things:

Quote

some fear anonymity might be the issue that truly threatens bitcoin’s future

Quote

Regarding anonymity, Bernanke explained it’s a “bug” in that it allows bitcoin to be the vehicle for illicit transactions. He suspects government oversight will be a result of this, and could reduce the appeal of bitcoin and other cryptocurrencies.

I wonder why so many people worry about this? It is rather known fact that bitcoin is not anonymous, but only pseudo-anonymous (http://www.bitcoinisnotanonymous.com/). And what will happen with Bitcoin if CT or Zerocoin or some other technology will be incorporated to bitcoin, to make it truly anonymous?

Topic: Is bitcoin's anonymity really a problem for the governments and regulations? - page 3. (Read 2136 times)