What is the fate of Scammers if bitcoin later becomes a traceable Currency. - page 3.

JC btc

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Quote from: Peashooter on January 07, 2020, 11:39:38 PM

Quote from: Yourhomeboy on December 05, 2019, 11:37:20 AM

Bitcoin as a currency that is decentralized, they is no Headquarters for Bitcoin and it has no Central office where they distribute information concerning Bitcoin, Like illicit transactions that money was lost but recovered after some investigations through the distributed information.

like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.

Share your thoughts.

I think this is a great idea so we can lessen the numerous counts of illegal doing herr in Bitcoin of course give some fear for those people who will come up to the idea of hacking. I think this is one of the reason why Bitcoin is still unacceptable by most of the people since the fear of losing all of your assets are present without any assurance to have it back and think this idea will showcase how well Bitcoin could be if accepted.

I hope that some will have the ability to trace especially our government as Bitcoin is widely using by terrorist for illegal activities and not only them but a lot of founders using crypto to scam people. Hope that the government will really have the chance to sue and punished those scammers too apart from those terrorist so that many investors will attract and gain trust again to crypto.

Peashooter

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Quote from: Yourhomeboy on December 05, 2019, 11:37:20 AM

Bitcoin as a currency that is decentralized, they is no Headquarters for Bitcoin and it has no Central office where they distribute information concerning Bitcoin, Like illicit transactions that money was lost but recovered after some investigations through the distributed information.

like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.

Share your thoughts.

I think this is a great idea so we can lessen the numerous counts of illegal doing herr in Bitcoin of course give some fear for those people who will come up to the idea of hacking. I think this is one of the reason why Bitcoin is still unacceptable by most of the people since the fear of losing all of your assets are present without any assurance to have it back and think this idea will showcase how well Bitcoin could be if accepted.

wxa7115

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Quote from: Bitcoin ShitList on January 03, 2020, 02:47:53 PM

Of course there will always be hackers around ,hope bitcoin transactions is traceable anyway,would be good to nail those guys

Most of the time the scammers that you see which are prosecuted are those that have stolen millions of dollars, if a scammer steals an amount of money that is significant to you but that is really small then most likely nothing is going to happen.

Prosecuting someone has a cost and most authorities do not have the resources to dedicate to a case like that and the few that do will most likely do nothing if the loss you suffered was small, after all if you were a member of a security agency and you had limited time which case would you try to solve, a high profile case in which millions are involved or a case with a only a few hundreds of dollars?

joinfree

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1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

Lol, i guess you really need ti go back and consider the whole technology behind bitcoin and its features as well. Bitcoin was created for the sake of financial privacy and so this assumption can't never happen hence not necessary to discuss it further or even consider the odds.

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Quote from: leetcoiner on January 03, 2020, 02:59:47 PM

Quote from: Bitcoin ShitList on January 03, 2020, 02:47:53 PM

Of course there will always be hackers around ,hope bitcoin transactions is traceable anyway,would be good to nail those guys

If Bitcoin, and in general crypto, is tracked, there will be much fewer frauds, and fraudsters will be searched and punished. At this point, that's very much lacking.

Just because bitcoin is hard to be traced more people prefer to use bitcoin. Even when bitcoin is used for right things government consider it a crime. This is the major reason why the traceable feature is much welcomed by cryptocurrency users. Same time this feature is taken as an advantage by the scammers and hackers to trap common people in a much simple way. Fraudulent activities with cryptocurrencies have decreased compared to the past as people have known its importance as a currency and investment.

Sebas.tian

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Have you forget that; fiats can be traceable? If yes, why are many scammers still found their self scamming with the sane fiats which can be traceable to them. Also, remember the; Bitcoin is traceable because its was built on the Blockchain which is the most transparent process these days. Scammers are not worried or worry over their identities if found. What happened most to these scammers is that; they used mixers....

betty11

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Bitcoin is traceable, just that many times you really don't know how to defend a stolen bitcoin that it's yours. Sometimes, a stolen bitcoin is made to untraceable by using some level of encryption like a mixer. If a scammer deposits a stolen bitcoin in a centralized exchange, and this has been resorted and been monitored, the exchange management can freeze such account.

leetcoiner

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Quote from: Bitcoin ShitList on January 03, 2020, 02:47:53 PM

Of course there will always be hackers around ,hope bitcoin transactions is traceable anyway,would be good to nail those guys

If Bitcoin, and in general crypto, is tracked, there will be much fewer frauds, and fraudsters will be searched and punished. At this point, that's very much lacking.

Bitcoin ShitList

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Of course there will always be hackers around ,hope bitcoin transactions is traceable anyway,would be good to nail those guys

wxa7115

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Quote from: julius caesar on December 25, 2019, 02:49:42 AM

Actually almost all of your transaction is traceable in bitcoin. The only thing that they cannot do is to retrieve their lost coin if someone scam them using beautiful words. That is the only problem if the currency that you have is decentralized. No government is involved and you cannot complain if something happens to your money whether it is stolen or sent to the wrong address.

You can actually complain to the authorities if your bitcoin is stolen from you, but in many countries many do not even know what is bitcoin and how valuable it is, second most police departments do not have the tools to deal with crimes over the Internet that can be difficult to track, third the people that steal cryptocurrencies probably have experience trying to hide their tracks so it will be difficult to identify them, fourth and even if you can follow how those coins move most likely they will use a bitcoin mixer and you will lose their track.

And finally those hackers can be everywhere around the world, so if you only lost a small amount the authorities may not even investigate the case as it is not worth the effort for them.

thesmallgod

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well tracing bitcoin transaction to a real identity is possible as you know there are centralized exchange platforms, but the real problem is that most people that use bitcoin for dirty things most time do that on decentralized platforms. In order to make bitcoin to be totally traceable then platforms holding bitcoin transactions will be completely centralized. However, this does mean scammers may reduce and also the general acceptance will increase but there are still many challenges facing crypto aside traceability that make people not accept it. One of it is the issue of volatility.

Latviand

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Quote from: BlackFor3st on January 02, 2020, 03:41:00 AM

Quote from: Yourhomeboy on December 05, 2019, 11:37:20 AM

Bitcoin as a currency that is decentralized, they is no Headquarters for Bitcoin and it has no Central office where they distribute information concerning Bitcoin, Like illicit transactions that money was lost but recovered after some investigations through the distributed information.

like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.

Share your thoughts.

There is always a ways, like in fiat almost all the transactions are traceable but the hackers still find a ways on how they can outdo the traceable transactions.

Therefore there is no 100% guarantee that there will be no hackers in crypto once the transactions will become traceable. What I can say is that, it can lower the hacking rate but it will not eliminate the hackers.

Because of the generation or era now which is technology is getting bigger and getting more advanced also the hackers have more power over the cyber world and yes even a decentralized and secured bitcoin cant be safe to hackers but also hackers cant fully grasp the bitcoin or fully penetrate it and in fact internet world or cyber world is not a safe place at first place. So if bitcoin will become tracesble the hackers will have more power and victims will become higher and also governments will overtake the bitcoin which is why we trust bitcoin because it is not traceable and don't have tax, but if this case happens then maybe, lots will lose trust and interest in bitcoin.

BlackFor3st

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Quote from: Yourhomeboy on December 05, 2019, 11:37:20 AM

Bitcoin as a currency that is decentralized, they is no Headquarters for Bitcoin and it has no Central office where they distribute information concerning Bitcoin, Like illicit transactions that money was lost but recovered after some investigations through the distributed information.

like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.

Share your thoughts.

There is always a ways, like in fiat almost all the transactions are traceable but the hackers still find a ways on how they can outdo the traceable transactions.

Therefore there is no 100% guarantee that there will be no hackers in crypto once the transactions will become traceable. What I can say is that, it can lower the hacking rate but it will not eliminate the hackers.

bangjoe

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tracking will still end in a deadlock because the government will not be able to do anything if the mixing flow remains unconnected with fiat transactions, scammers can also hold it for a long time to ensure a very clean washing, the government has no regulations to accuse someone with using dozens of intricately connected addresses as criminal evidence.

Boov

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Quote from: julius caesar on December 25, 2019, 02:49:42 AM

Quote from: Yourhomeboy on December 05, 2019, 11:37:20 AM

Bitcoin as a currency that is decentralized, they is no Headquarters for Bitcoin and it has no Central office where they distribute information concerning Bitcoin, Like illicit transactions that money was lost but recovered after some investigations through the distributed information.

like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.

Share your thoughts.

Actually almost all of your transaction is traceable in bitcoin. The only thing that they cannot do is to retrieve their lost coin if someone scam them using beautiful words. That is the only problem if the currency that you have is decentralized. No government is involved and you cannot complain if something happens to your money whether it is stolen or sent to the wrong address.

I am agree with you pal. So all we have to di is to be careful and smart thinker. We halve to think land check twice or even trice if we sent our money into the right account. Because here in crypto world you cannot retrieve your money from the wrong transaction so be careful and reread the details before sending your btc.

sovie

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Fiat is traceable, are all scams in fiat traced or there are zero scam/fraud with fiat? My friend scammers do proper work before committing a scam. Right now nobody can trace who owns a specific address but if that become possible then scammers will move to some new strategy.

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Quote from: salty on December 26, 2019, 02:59:02 AM

Quote from: mk4 on December 05, 2019, 11:48:12 AM

"if bitcoin later becomes a traceable Currency"

Well, bitcoin is already traceable. In fact, you can look at the transactions being made right now through block explorer sites like Blockchain.com[1]. Hence why you mostly see funds stolen by hackers being stationary, as they definitely wouldn't want to be sending the funds on exchanges as this would most definitely expose who they are.

[1] https://www.blockchain.com/btc/unconfirmed-transactions

That's right. If someone steals bitcoin, it will be sent to at least some mixer.And from there it will easily go to the exchange.

mixers have the purpose of preserving the privacy of individual. the reason why they are being closely monitored by authorities. so once those scammers made their transactions safe via this mixer, they can easily transfer it to addresses where they can convert it to fiat currency. of course, they will not withdraw large amounts of money.
btc txs are already traceable but we still dont know the name attached to it, only the addresses involved.

Voland.V

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Quote from: Eugenar on December 26, 2019, 05:53:05 AM

Quote from: julius caesar on December 25, 2019, 02:49:42 AM

Actually almost all of your transaction is traceable in bitcoin. The only thing that they cannot do is to retrieve their lost coin if someone scam them using beautiful words. That is the only problem if the currency that you have is decentralized. No government is involved and you cannot complain if something happens to your money whether it is stolen or sent to the wrong address.

Yes that is quite correct but still, we could not trace the actual identity of the scammers because what we could just trace is the transactions that they made. Basically they will not submit a true KYC knowing that they aim to scam people out. So, it will be a big problem for us so we need bitcoin to become a traceable currency and at the same time, deep inside of us don't want it either. Because one thing we are here now is because of the characteristics bitcoin has, and being anonymous fascinated us.

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Anonymity of any user on the Internet is a myth, and the further the Internet becomes more transparent, but only for specially trained people.
Anonymity in cryptov currencies is, but also has its own price, has its own technology of access to information.

If you own 500 bitcoins, nobody will be interested in you, too small, if you have 10 000 - you are on the hook, no matter what you want.
And what's between those limits - I don't know, anything can be found if they really want it.

The TOR network - has lost its anonymity, this year tracking technologies appeared (to be more exact, this year they wrote about it, and when this technology appeared - I do not know).

VPN - became transparent for owners of certain technologies, this was recently reported in the press, moreover, with the loss of anonymity there was a loss of traffic privacy.

Anonymity is a myth that has its price.

Eugenar

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Quote from: julius caesar on December 25, 2019, 02:49:42 AM

Actually almost all of your transaction is traceable in bitcoin. The only thing that they cannot do is to retrieve their lost coin if someone scam them using beautiful words. That is the only problem if the currency that you have is decentralized. No government is involved and you cannot complain if something happens to your money whether it is stolen or sent to the wrong address.

Yes that is quite correct but still, we could not trace the actual identity of the scammers because what we could just trace is the transactions that they made. Basically they will not submit a true KYC knowing that they aim to scam people out. So, it will be a big problem for us so we need bitcoin to become a traceable currency and at the same time, deep inside of us don't want it either. Because one thing we are here now is because of the characteristics bitcoin has, and being anonymous fascinated us.

salty

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Quote from: mk4 on December 05, 2019, 11:48:12 AM

"if bitcoin later becomes a traceable Currency"

Well, bitcoin is already traceable. In fact, you can look at the transactions being made right now through block explorer sites like Blockchain.com[1]. Hence why you mostly see funds stolen by hackers being stationary, as they definitely wouldn't want to be sending the funds on exchanges as this would most definitely expose who they are.

[1] https://www.blockchain.com/btc/unconfirmed-transactions

That's right. If someone steals bitcoin, it will be sent to at least some mixer.And from there it will easily go to the exchange.

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