if it is already traceable I think it is not bitcoin at all, the main feature of bitcoin is you can transact anonymously, so if it will happen , many scammers will be afraid and they can be lessen, but the traders and users of bitcoin will be lessen too, this is my few cent, I dont have any problem if it will be traceable but it could be bad for some other people.
Actually bitcoin is already traceable and the simplest thing you need to know is who the holder of the address and if revealed you can see where they are sending their bitcoin into, even most of popular exchange address nowadays have a label name which make it even simpler. There are also tools to trace what address connected to each other so yeah it's traceable and transparent even surpass banking transaction. The fact that it needs to know the ID of address holder even before we can trace I think is enough to not harm people's privacy. 
Topic: What is the fate of Scammers if bitcoin later becomes a traceable Currency. - page 4. (Read 2195 times)
December 25, 2019, 05:30:31 PM
December 25, 2019, 04:54:33 PM
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.
like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.
Share your thoughts.
Although, bitcoin transactions can not be reversed or refunded back. But, bitcoin transactions can be tracked or traced. You can even traced the address you sent bitcoin. Still, scam scheme never ceased, Scam schemes ranging from clicking of fake links sent to you through emails to ghost or fake exchanges. The best to do is to know the ways they are scamming so that we would not be their victims. One of the things that could reduce scam is KYC but all these can only reduce it but can not end it.
December 25, 2019, 03:56:33 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.
if it is already traceable I think it is not bitcoin at all, the main feature of bitcoin is you can transact anonymously, so if it will happen , many scammers will be afraid and they can be lessen, but the traders and users of bitcoin will be lessen too, this is my few cent, I dont have any problem if it will be traceable but it could be bad for some other people. like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.
Share your thoughts.
December 25, 2019, 03:21:23 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.like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.
Share your thoughts.
Sad truth, but, there are countries who are focusing on cyber crime too but there are countries who has very less succeed win case with cyber crime such as Japan, so, be careful if the founder came from Japan and he's not Japanese, as I know someone who has been a founder of crypto exchange but he run away and he's from Japan, and although there are lots of police report already, he knows they can't sue him, he's really very clever.
December 25, 2019, 02:49:42 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. like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.
Share your thoughts.
December 25, 2019, 01:43:16 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.
Its already traceable yet every transaction made is visible on public.The difference here is that no one ever knows on whose the owner on such address like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.
Share your thoughts.
and those things will only be identified if those scammers tend to cash out those hacked coins into a certain exchange.So most probably the scenario here
is that those smart thieves will surely scramble or mixed up those coins for it hard to be traced and this is where mixers and other service do comes in.
December 24, 2019, 04:45:20 PM
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.
Its already traceable yet every transaction made is visible on public.The difference here is that no one ever knows on whose the owner on such address like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.
Share your thoughts.
and those things will only be identified if those scammers tend to cash out those hacked coins into a certain exchange.So most probably the scenario here
is that those smart thieves will surely scramble or mixed up those coins for it hard to be traced and this is where mixers and other service do comes in.
December 24, 2019, 04:26:08 PM
The further technology develops, the less privacy becomes for both a decent user and a cheater.
Not so long ago, the VPN was anonymous.
Not anymore today.
Not so long ago, the TOR network was anonymous.
Not anymore.
There are strong players on the Internet, they can do anything.
The usual users are left - they can keep their anonymity less and less. We need to be more and more careful when we use the network.
And this process is developing.
We lose our anonymity and security.
Others are gaining unlimited power.
Why is this happening?
What's wrong with the basics of modern security systems?
Not so long ago, the VPN was anonymous.
Not anymore today.
Not so long ago, the TOR network was anonymous.
Not anymore.
There are strong players on the Internet, they can do anything.
The usual users are left - they can keep their anonymity less and less. We need to be more and more careful when we use the network.
And this process is developing.
We lose our anonymity and security.
Others are gaining unlimited power.
Why is this happening?
What's wrong with the basics of modern security systems?
December 22, 2019, 09:13:23 PM
The truth is that Bitcoin is a trackable cryptocurrency and its blockchain can be analyzed, however, what some scammers do in which little by little they are finding ways to filter accounts and disperse the illicit and thus even somehow lose traces, but Computer experts are able to detect all these movements, I think you will always be exposed to hackers, it is best to take good care of private passwords and not manage large funds in the Exchanges, because they are the most vulnerable.
December 22, 2019, 02:12:13 PM
Fiat currency is traceable. Still, scammers and other bad guys are doing their business quite easily using fiat currency without getting traced. Scammers along with other legitimate crypto users will find another way of doing business in this domain. There is no way we can block them.
its a common misconception that bitcoin and other pseudo-anonymous crypto is untraceable
you are right , you have much better chances to go unnoticed stealing cash , bitcoin has been long ago traced by the likes of Chainalysis , Elliptic or Cipher trace
they are working with the authorities and ISP and VPN must give them info they request , do not be fooled by the "totally anonymous " and no logs claims by the way
scammer will always be present , it is the humans nature - where there is money there will be people who want to take them from you
sometimes I am amazed by the amount of attention this aspect of the cryptocurrencies is getting , as if there is nothing else to be discussing about it
fiat related crimes happen million times more often , yet every single incident with bitcoin is somehow news worthy
December 22, 2019, 10:59:18 AM
Fiat currency is traceable. Still, scammers and other bad guys are doing their business quite easily using fiat currency without getting traced. Scammers along with other legitimate crypto users will find another way of doing business in this domain. There is no way we can block them.
December 22, 2019, 10:29:52 AM
The thing is even if it becomes totally traceable to the exact location of the persons involved in the transaction, I don't think it would yield any positive result because the crypto transactions are totally irreversible and knowing about the transactions won't help to recover.
December 22, 2019, 09:33:23 AM
I don't know what will I do if that happens. I mean I am with you if you want to expose scammers and maybe also hackers and criminals but bitcoin being traceable as a whole will be the worst for me since I will be having second thoughts on using it. Since to be honest you can follow transactions of your friends just by knowing its address but if you know who can recieve it and things like that, that is a different thing.
December 22, 2019, 09:11:05 AM
Bitcoin is already traceable. Now fraudsters can opt for more confidential subcoins. In addition, the system is open to fraud in all circumstances. I don't think it's a bitcoin or a dollar or euro. People need to be conscious. Don't confuse hackers with scammers.
December 22, 2019, 08:33:44 AM
Well the thing is bitcoins itself is not a currency which is too hard to trace , it can be done easily if everything is reversed by someone who knows all about it , it is actually very very open and people can easily fall into the hands of governmental bodies , the scammers might easily be tracked if the government employees people who are very efficient in this .
It is trackable.
You need KYC almost everywhere now .
It is trackable.
You need KYC almost everywhere now .
December 22, 2019, 07:45:35 AM
I think Bitcoin and other cryptocurrencies transactions are already traceable but not entirely because if you look on the transaction made upon Blockchain you could the address of the reciever which only imply that you coule really trace it. In addition, even if it is traceable we cannot remove these scammers because like in fiat where it is fully regulated there are still some cases of scam. Therefore, scammers are inevitable they could adapt to the system and find other way to do their scheme.
Yes it is traceable and blockchain cannot lie, but we can't really trace who is the owner unless the exchange will disclose it but I don't think if it is a legal thing, but maybe in legal matters and if the government will request to a exchange then for sure the exchange is oblige to disclose who is the owner of this address, so scammers has a less number of days.
December 22, 2019, 07:19:11 AM
but I think fraudsters must have looked for other ways to manipulate transactions. but if it can happen I am sure that fraud can be reduced, because the way to stop them might close some of their access to where they commit fraud. Although I'm sure that not all fraud will disappear, I think it can be reduced
Definitely, but what you are pertaining to the ways to stop them is quite hard. We need a system that is regulated to be implemented in a space where everything is decentralized and that is too hard because of the features that cryptocurrency has compared to fiats that is already regulated. With this, other ways of restricting fraudsters to access the market is needed rather the traditional way. I hope soon there will be systems that will implement this but right now, what we can just do is to become personally responsible to our actions for us to avoid getting our funds compromised.
when bitcoin becomes traceable that simply means that its already regulated . scammers will be reduced drastically but like you guys said there are other scammers that will try to cope up with the new system so that is why that we must not be confident even if btc is traceable already but we shall double our safety measure's because scammers becames stronger on that moment . however i dont think that some will like the idea of a traceable crypto
December 22, 2019, 05:25:59 AM
Bitcoin is already traceable. We don't know who sent it for Bitcoin. We don't know who's the buyer. But we can follow the journey of bitcoin. IDs will appear if shooting in a Kyc Exchange. There's not that much privacy in real life.
Unless you use a mixer....
That way nobody will be able to reproduce such mentioned steps thus making it impossible for tracing them.
There should be a rule for such cases where mixers would be forbidden which will deny every sorce of hiding traceable data from such scammers.
or even better , introduce the mixers that are working in conjuction with the agencies and the law enforcement
advertise them , make them popular and just sit and wait for the "dirty" coins to appear
this way you will have all the history and can trace the coins
I'm sure this is what being done , since it is a very easy solution and none can guarantee that our favorite mixers are not doing it right now
do not overestimate your anonymity on internet , it is not what you think it is
December 22, 2019, 01:08:04 AM
but I think fraudsters must have looked for other ways to manipulate transactions. but if it can happen I am sure that fraud can be reduced, because the way to stop them might close some of their access to where they commit fraud. Although I'm sure that not all fraud will disappear, I think it can be reduced
Definitely, but what you are pertaining to the ways to stop them is quite hard. We need a system that is regulated to be implemented in a space where everything is decentralized and that is too hard because of the features that cryptocurrency has compared to fiats that is already regulated. With this, other ways of restricting fraudsters to access the market is needed rather the traditional way. I hope soon there will be systems that will implement this but right now, what we can just do is to become personally responsible to our actions for us to avoid getting our funds compromised.
when bitcoin becomes traceable that simply means that its already regulated . scammers will be reduced drastically but like you guys said there are other scammers that will try to cope up with the new system so that is why that we must not be confident even if btc is traceable already but we shall double our safety measure's because scammers becames stronger on that moment . however i dont think that some will like the idea of a traceable crypto
December 22, 2019, 12:58:59 AM
but I think fraudsters must have looked for other ways to manipulate transactions. but if it can happen I am sure that fraud can be reduced, because the way to stop them might close some of their access to where they commit fraud. Although I'm sure that not all fraud will disappear, I think it can be reduced
Definitely, but what you are pertaining to the ways to stop them is quite hard. We need a system that is regulated to be implemented in a space where everything is decentralized and that is too hard because of the features that cryptocurrency has compared to fiats that is already regulated. With this, other ways of restricting fraudsters to access the market is needed rather the traditional way. I hope soon there will be systems that will implement this but right now, what we can just do is to become personally responsible to our actions for us to avoid getting our funds compromised.
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