Topic: Visibilities of decentralized BTC and the anonymous Fiats system (Read 171 times)

On the other hand, centralized fiat currencies usually don’t have this kind of transparency due to not disclosing the total amount of money in circulation, the amount being printed or where all the money is disappearing. The problem comes when people start questioning its accountability since it becomes difficult for the public to comprehend their financial matters fully.

But we already know that fiat is an enemy of decentralization which is targeted at controlling the financial life of a set of people. It is easier to carry out fraudulent transactions using fiat. Some of these politicians simply use cash for their criminal activities because physical fiat cannot be traced. Sometimes we hear news of money missing in the government treasury. In order to hide this looting of funds, they can set government offices on fire and claim that all the documents or files needed to investigate these frauds were destroyed by fire. They will not support or integrate Bitcoin into the national financial system because they know that all transactions are recorded in the Blockchain which everyone can access.

BTC is indeed secure but there are still threats from the wallets or exchanges that we are using if we are not knowledgeable enough to pick the trustworthy one. Also, there are evil people that we might came across with when making a transaction and they can be a reason for us to lose our Bitcoins.

Yeah, BTC is like a financial revolution but unlike any other revolution, its adoption can be complicated because its features are obviously against the government's currency. Even not the governments, BTC is also a bit complex. This is another hindrance to its adoption. BTC is decentralized and this is why it symbolizes freedom. We should not only use centralized services of course, as they also exist here in the BTC world.

Bitcoin is made available for everyone who will be interested in making an investment in it or accept it as a medium of payment or unit of an account for their financial system, all these were possible because has come in with diverse solution to peoples challengs in their financial economy.


I don't think we need to know about this, because even the majority of these coins were held down by the government in which there is no account made on them.


They wont reveal the deep secret of fiat financial currency to us, because they will always want to make use of such as to have control over us for using their monetary system.

You're absolutely correct, the Government hides under the constitution and perpetuate evil, they inflates contracts and get kickback's from the contractors. Imagine if bitcoin is the Government authorised legal tender in most countries of the world today, it will be easy to trace all governments expenditures for every fiscal year. in so doing, it will reduce official corruption to the lowest minimum. Here we are talking about hackers been traced and the coins retrieved, but in the government case, you will see a situation where the national budget will be padded so as the politicians will get their own cut of the national cake without any trace or anybody being held accountable.

The government hates whatever they cannot control because they love to manipulate whatever is under their control. Bitcoin makes it difficult for them and that is why they always criticize bitcoin whenever criminals uses it for their illicit activities, whereas fiat is used for various illicit activities daily but will they criticize their own.

Majority of people in the government are criminals and they look for every means to steal and oppress people legally because they are in power. If not why will coins be seized from bad actors or from scammers and the government will put in their portfolio. No matter what the government says about bitcoin, soon the majority of people will know that bitcoin is better than fiat because it is a currency and an asset, they can't stop bitcoin.

Bitcoin is different from the fiat currency given to us by the government. You won't find any backdoor dealings with its blockchain-backed spine and transparent ledger. Total bitcoins are 21 million. It's not a limitless resource. This empowers the individual and protects against inflation. The financial revolution, bro. The cryptocurrency Bitcoin symbolizes freedom. Say "no" to the rigged game, take back control of our money, and embrace a transparent, decentralized, and democratic system. A wake-up call to break away from traditional finance and embrace financial sovereignty

Unfortunately there is no centralized technology by which the government could recover those coins from the hacker as the coins are on the decentralized blockchains and not centralized under the custodian of the government but once the exchange has thrives to the successful recovery of those coins, the governments U-turns in claim of the money belongs to them and then, not even a proper accountability to how the public benefit from it as a public fund it may be.

By right since the coins are decentralized technology currencies, it was supposed to return back to the exchanges under the custodial of a decentralized technology to balance the potentialities of the coins decentralizations.

Sometimes it's not even under the control of government, Central banks are not entitled with the government who are the one is capable of printing as much as money they want. I am sure it's not happening without the knowledge of people who is ruling the government but sometimes they can't even stop the process or they will be executed like JF. Kennedy.

After all government is nothing created by government so if people doesn't realise how this shit hole works then no matter whether it's Bitcoin or any decentralised monetary system can't help them.

If this was true, then why the Mt.Gox investors are getting their coins back? There's also a chance for the FTX investors could get their funds back(at least a part of their funds). The governments aren't always stealing all seized coins from crypto exchanges, that went bankrupt.
Anyway, OP made a forum thread about a different topic. I don't think that the fiat system is completely anonymous and there are no researches and analysis about the amount of fiat money circulating in the criminal economy. There is plenty of info about this topic, but I can assume that OP haven't found anything.

Bitcoin is transparent in the sense that all on-chain transactions are public and open to anyone who might want to investigate them. But it's still very difficult to estimate how much BTC is used for money laundering because that's not something obvious from the transactions themselves.
As for fiat, there are estimates of how much gets laundered annually, but again, catching every single money laundering activity is very complicated.
So while sometimes some resourceful people do try to cover financial crimes, it is also objectively not an easy task to fight money laundering both when it comes to fiat and Bitcoin.

The pipeline looks like this:

Innocent people --> Hackers/Scammers --> The government () -->  Exchanges

The government's will always sell the stolen / seized crypto to the exchanges, and normal users will never see their money's worth again. The only exception is if the victim is a very rich person or exchange (Ha!) then they will pursue legal action to get their money returned to them.

And sadly even the coins have been retrieved from the hackers, the coins didn't back to the exchanges, but the government will claim the coins belongs to them.

Government is the only criminal that can act anything they want without receive any punishment, if the other organization did same, the government will say that organization is a criminal because they don't want to lose their money.

Bitcoin as a genuine digital currency being unbiased and transparent not just to its users but to the global public entirely.

Historically and present there had been scammers, robbers and politicians looting and doing money laundries but at no point has the government been transparent to analyse and give public accounts or updates on total funds looted, scammed or missed in specific period either annual or in any period of time neither had they explained to the public on the total amount of money printed is speculated or even the totality of the implemented amount of money to be printed as a public valuable commodity.

There was a rumour confirmed that the central bank governor in my country being printed money for the presidency which definitely is not in account to the national budget but for just them the presidency which brought a pointing hand of being responsible for the devaluing of our currency.

So comparing this Centralized Fiats system to Bitcoin a decentralized digital currency, Bitcoin is being over ahead and transparent of how many Bitcoin created which is 21M and how many mined which is about 19M of Bitcoin in the current time right from 2009 when Bitcoin began to be mined.
It is also made transparent that the remaining unmined Bitcoin is stipulated to be mine probably in dozens of decades ahead until the total of 21M Bitcoin is completely mined.
And the reason why Bitcoin has a total created amount is basically for the hedge of values Such as economy inflations and evaluation of financial devaluation.

Interestingly, showcasing how Bitcoin financial technology system has been a democratic currency for the people, by the people and of the people with its transparencies.

Here is an update of the total number of Bitcoin being stolen by hackers in some specific periods of time https://nairametrics.com/2024/07/07/hackers-steal-cryptos-worth-1-4-billion-globally-in-six-months-report/
But when has the government under the charge of centralized currencies ever come with such analysis or being transparent as Bitcoin like this? I guess non and it is simply because, they are the professional looters and they are also responsible for the devaluing of the fiats due to its excessive printed monies just to feed fat their pockets.

The government does not want us to know about the centralized fiat system that is why they would always keep us blind to those facts we needed to know unlike Bitcoin being an opens source in a transparent blockchain.