What is the fate of Scammers if bitcoin later becomes a traceable Currency. - page 6.

sana54210

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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.

Bitcoin can already be traced, there is nothing anonymous about it. Do you ever follow up with recent scam stories? Most of them these days makes use of coin mixers to confuse your search; when they steal Bitcoin they quickly send it to coin mixers and that way you wouldn't be able to trace it anymore (one of the reasons why a lot of people are against Coin Mixers these days, because scammers are using them.).

So Bitcoin is not anonymous, if someone scam you they can easily be traced on the Blockchain. You can trace the addresses and the exchanges that the coin is being sent to, and there is nothing hidden about it. If the scammer is a novice, you will easily get them.

BartS

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Quote from: veleten on December 14, 2019, 04:12:36 AM

Quote from: X-ray on December 13, 2019, 05:16:57 PM

Quote from: pixie85 on December 13, 2019, 04:50:42 PM

Quote from: rafajunior99 on December 13, 2019, 10:55:42 AM

Many say here that Bitcoin can indeed be tracked for transactions, but it's better if there is a more sophisticated system to find people who commit fraud or take our Bitcoin secretly, for example, their data can be seen or their faces recorded with sensors that are has been prepared with a tool that has been designed. That's just my imagination. Grin

It can be but for now it's not worth it. Teams that do it like for the FBI are spending a lot of time and human resources to track people and they're interested in big fish like that guy owner of BTC-e that was laundering money. So if you're a big scammer who took millions you have reasons to worry but then you can probably run to a country with no extradition Cheesy

It's called KYC and there's no way we could get that kind of information or data if they didn't submit it themselves but most of the scammers know well that doing so will only expose their identites so they choose not to do that. However, if the whole crypto enable a further tracing then we will lost our freedom aswell and it's not really decentralized. The transparent transaction is enough.

I firmly believe KYC is not something that is deterring scammers
this is a known tool of some shady casinos to not pay winnings , for example and it is nothing good for a legitimate user
the anti-scam and AML and such is just a pretext to collect your personal data
I'm equally cautious about revealing it , especially in the age of the big data we live in
Facebook and Instagram etc. know about you more than your wife/husband does and its the sad truth
bitcoin is designed to be partially anonymous and let it stay this way , if I want to be fully transparent , I can use VISA or any other money

KYC was never about catching scammers, scammers are criminals so they're going to do everything they can to hide their identity so those policies do not really bothers them, those policies were put in place to try to tell who was holding huge amounts of bitcoin and then to try to tax them.

But obviously those that are holding huge amounts of bitcoin are not going to reveal their identities just so they have to pay huge amounts of money to the government that did nothing to deserve or earn that money.

tianglistrik

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Quote from: Aying on December 14, 2019, 09:54:55 AM

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

What is the fate of Scammers if bitcoin later becomes a traceable Currency

May they have luck when bitcoin is traceable? totally traceable that they are identified if they withdraw it in to fiat and being captured. but in this days scammers are not afraid, some of projects now that have active ceo are still scamming investors and run and not being captured even they are traceable. why? because scammers are have their own improvements too, they are now transparent with flowery words. so now, just don't be victimize if you don't want your money will scam by those trickster.

we really can't trust fully about security by third parties in crypto, so it's better we just secure our own funds rather than having to rely on people out there so therefore in crypto knowledge becomes important

Aying

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

What is the fate of Scammers if bitcoin later becomes a traceable Currency

May they have luck when bitcoin is traceable? totally traceable that they are identified if they withdraw it in to fiat and being captured. but in this days scammers are not afraid, some of projects now that have active ceo are still scamming investors and run and not being captured even they are traceable. why? because scammers are have their own improvements too, they are now transparent with flowery words. so now, just don't be victimize if you don't want your money will scam by those trickster.

plvbob0070

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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.

Some said that the Bitcoins is traceable now that is new knowledge for me. In my perspective even the source of income is traceable, scammers may have an alternative move to avoid detection because scammers is scammers. But I don't know if that happens or more implemented it can become a feature to avoid future problems.

ntsdm1

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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.

In fact, to implement this you need to fully control the network.To realize the refund you still need to prove that money are really Yours.It's a complicated mechanism.

LogitechMouse

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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.

For your information, bitcoin transactions are already traceable thru blockchain.info website. The only problem is they can't trace who really is the owner of the addresses.

If you will see in the past years, there are some scammers who are getting arrested but there are more scammers who aren't arrested because they are intelligent enough to both hide themselves and to market. So in short, Bitcoin is a traceable currency already but it isn't that easy to trace because of the pseudo-anonymous feature of Bitcoin itself.

TitanGEL

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Quote from: sapnu on December 13, 2019, 04:30:18 PM

Quote from: finaleshot2016 on December 13, 2019, 01:57:44 PM

Quote from: rafajunior99 on December 13, 2019, 10:55:42 AM

Many say here that Bitcoin can indeed be tracked for transactions, but it's better if there is a more sophisticated system to find people who commit fraud or take our Bitcoin secretly, for example, their data can be seen or their faces recorded with sensors that are has been prepared with a tool that has been designed. That's just my imagination. Grin

Actually it's possible if you're a pro computer specialist, it's easy for you to trace in the chain network (if it's not designed as decentralized) and breach the computer used for scamming and get the actual photo of that scammer.

Soon, it will be more advanced since cybercrime now is very often and the internet is getting more dangerous than the usual days of browsing.

There will be a time that scammers will be easily tracked once a user reported a case of scam and can be traced quickly to locate the scammer. Technology is getting more development and one of its features in the future will be its tracking system. Grin

They can be trace actually, because as far as I know if you reported that particular scammer and proved it to the moderator they can actually ban the account of that particular scammer and they can also give negative trust if the crime is not that big deal but still you scam other people. I can say that they can innovate that kind of technology and can trace any malicious threat in which your money is at stake and can be scam by other people, the only lesson in here is that you should be active or informed in every decision you make before taking any step for you to secure your money.

Who said that scammers are not traceable? The governement are continuing to strengthen their systems in order to trace the scammers. There are now many scammers that are been arrested because of our technology and also because of the blockchain. People thought that we cannot trace scammers if they using bitcoin but it is a misleading information and the truth is they can trace using blockchain.

veleten

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Quote from: X-ray on December 13, 2019, 05:16:57 PM

Quote from: pixie85 on December 13, 2019, 04:50:42 PM

Quote from: rafajunior99 on December 13, 2019, 10:55:42 AM

Many say here that Bitcoin can indeed be tracked for transactions, but it's better if there is a more sophisticated system to find people who commit fraud or take our Bitcoin secretly, for example, their data can be seen or their faces recorded with sensors that are has been prepared with a tool that has been designed. That's just my imagination. Grin

It can be but for now it's not worth it. Teams that do it like for the FBI are spending a lot of time and human resources to track people and they're interested in big fish like that guy owner of BTC-e that was laundering money. So if you're a big scammer who took millions you have reasons to worry but then you can probably run to a country with no extradition Cheesy

It's called KYC and there's no way we could get that kind of information or data if they didn't submit it themselves but most of the scammers know well that doing so will only expose their identites so they choose not to do that. However, if the whole crypto enable a further tracing then we will lost our freedom aswell and it's not really decentralized. The transparent transaction is enough.

I firmly believe KYC is not something that is deterring scammers
this is a known tool of some shady casinos to not pay winnings , for example and it is nothing good for a legitimate user
the anti-scam and AML and such is just a pretext to collect your personal data
I'm equally cautious about revealing it , especially in the age of the big data we live in
Facebook and Instagram etc. know about you more than your wife/husband does and its the sad truth
bitcoin is designed to be partially anonymous and let it stay this way , if I want to be fully transparent , I can use VISA or any other money

X-ray

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Quote from: pixie85 on December 13, 2019, 04:50:42 PM

Quote from: rafajunior99 on December 13, 2019, 10:55:42 AM

Many say here that Bitcoin can indeed be tracked for transactions, but it's better if there is a more sophisticated system to find people who commit fraud or take our Bitcoin secretly, for example, their data can be seen or their faces recorded with sensors that are has been prepared with a tool that has been designed. That's just my imagination. Grin

It can be but for now it's not worth it. Teams that do it like for the FBI are spending a lot of time and human resources to track people and they're interested in big fish like that guy owner of BTC-e that was laundering money. So if you're a big scammer who took millions you have reasons to worry but then you can probably run to a country with no extradition Cheesy

It's called KYC and there's no way we could get that kind of information or data if they didn't submit it themselves but most of the scammers know well that doing so will only expose their identites so they choose not to do that. However, if the whole crypto enable a further tracing then we will lost our freedom aswell and it's not really decentralized. The transparent transaction is enough.

pixie85

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Quote from: rafajunior99 on December 13, 2019, 10:55:42 AM

Many say here that Bitcoin can indeed be tracked for transactions, but it's better if there is a more sophisticated system to find people who commit fraud or take our Bitcoin secretly, for example, their data can be seen or their faces recorded with sensors that are has been prepared with a tool that has been designed. That's just my imagination. Grin

It can be but for now it's not worth it. Teams that do it like for the FBI are spending a lot of time and human resources to track people and they're interested in big fish like that guy owner of BTC-e that was laundering money. So if you're a big scammer who took millions you have reasons to worry but then you can probably run to a country with no extradition Cheesy

sapnu

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Quote from: finaleshot2016 on December 13, 2019, 01:57:44 PM

Quote from: rafajunior99 on December 13, 2019, 10:55:42 AM

Many say here that Bitcoin can indeed be tracked for transactions, but it's better if there is a more sophisticated system to find people who commit fraud or take our Bitcoin secretly, for example, their data can be seen or their faces recorded with sensors that are has been prepared with a tool that has been designed. That's just my imagination. Grin

Actually it's possible if you're a pro computer specialist, it's easy for you to trace in the chain network (if it's not designed as decentralized) and breach the computer used for scamming and get the actual photo of that scammer.

Soon, it will be more advanced since cybercrime now is very often and the internet is getting more dangerous than the usual days of browsing.

There will be a time that scammers will be easily tracked once a user reported a case of scam and can be traced quickly to locate the scammer. Technology is getting more development and one of its features in the future will be its tracking system. Grin

They can be trace actually, because as far as I know if you reported that particular scammer and proved it to the moderator they can actually ban the account of that particular scammer and they can also give negative trust if the crime is not that big deal but still you scam other people. I can say that they can innovate that kind of technology and can trace any malicious threat in which your money is at stake and can be scam by other people, the only lesson in here is that you should be active or informed in every decision you make before taking any step for you to secure your money.

finaleshot2016

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Quote from: rafajunior99 on December 13, 2019, 10:55:42 AM

Many say here that Bitcoin can indeed be tracked for transactions, but it's better if there is a more sophisticated system to find people who commit fraud or take our Bitcoin secretly, for example, their data can be seen or their faces recorded with sensors that are has been prepared with a tool that has been designed. That's just my imagination. Grin

Actually it's possible if you're a pro computer specialist, it's easy for you to trace in the chain network (if it's not designed as decentralized) and breach the computer used for scamming and get the actual photo of that scammer.

Soon, it will be more advanced since cybercrime now is very often and the internet is getting more dangerous than the usual days of browsing.

There will be a time that scammers will be easily tracked once a user reported a case of scam and can be traced quickly to locate the scammer. Technology is getting more development and one of its features in the future will be its tracking system. Grin

veleten

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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.

whoever says it has no idea about what blockchain is
bitcoin is more traceable than fiat transfers, it is pseudoanonymous , not anonymous
the main problem that it can be traced allright, but it cannot be traced to you , so to say
the transactions are public , the addresses are public , where did the money go is well known , but they can't link it to a certain person ( if he doesn't want to and is clever enough not to leave traces behind )

if you think there will be no scammers if it becomes totally centralized , god forbid , look no further - fiat money scamming and illicit usage dwarfes any of cryptocurrencies or other assets combined

rafajunior99

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Many say here that Bitcoin can indeed be tracked for transactions, but it's better if there is a more sophisticated system to find people who commit fraud or take our Bitcoin secretly, for example, their data can be seen or their faces recorded with sensors that are has been prepared with a tool that has been designed. That's just my imagination. Grin

imstillthebest

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no they arent . there were also people loves btc to become partially anonymous and this was the main idea of its creator so why revise it ?

btc will only loose some avid costumers and they could be switching on other cryptos that are still anonymous . scammers can still be avoided if people will only become wiser and smarter but let say if btc and cryptos are fully traceable , scammers will think twice before doing such act and the scammer will also be reduce dramatically .

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Quote from: Palider on December 12, 2019, 11:46:37 AM

In fact bitcoin is no longer safe to be anonymous, especially since our transactions such as exchanging fiat currency have fallen into the 3rd party or legal way, as in my country the local wallet here is licensed by BSP (Bank of the Phillipines) so when you cash out your money it is straight into bank accounts and if it is suspicious then your money can be held by the bank and you must provide documents that prove it is the safe legal way you earn.

You think it's not safe because you're using it the wrong way. Smart bitcoiners buy and sell bitcoin for cash or sell for merchandise. If they really want to convert they do it on exchanges that allow you to withdraw through ATMs or gift cards. Smart bitcoiners don't use exchanges with KYC and those who really have to, buy pictures of IDs on the dark web and sent those, instead of their real ones.

DreamStage

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Quote from: ?? on ??

Bitcoin is made for transparency as well and you can easily know where your bitcoin is but of course you need to put more effort on that, and the hard thing here is that no one knows the real owner of that wallet because of being decentralized. If bitcoin regulated by the government then people have to state their bitcoin address and by this, scammers will think for other way to continue scamming people.

And that is exactly why we should go for having such implementation.
Regarding scammers being one of the reasons why bitcoin is so hard to legalize. There should be a system implementing such thing.

Whereas even decentralized government could get our addresses from for example an exchanger linked to your personal real life Identification.
That way you would not need to wait for their confirmation for you to use your addresses and it will be immediatly updated on their database.

Voland.V

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Quote from: doomistake on December 12, 2019, 11:43:17 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

Correct, it is traceable but we can't yet track the whole thing and give an accurate result of who is the hacker, something like that, where he live, how old is he, so on and so forth, maybe that was OP wanted to say, to have a more advance tracing process.

All that we could track also as of now is the IP address (hoping the hacker or scammer is not using a VPN), that uses different IPs whenever they want to.

---------------------
Sorry for the clarification, but VPN had not been traced before, like the TOR.

It was yesterday.

Now both technologies are traceable, you just need to have a tool. Moreover, it turned out that these technologies supporting anonymity on the network - have huge vulnerabilities that allow smart people to exploit your entire device. And even determine which keys you press on the keyboard or on the screen.

This is today.

Palider

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In fact bitcoin is no longer safe to be anonymous, especially since our transactions such as exchanging fiat currency have fallen into the 3rd party or legal way, as in my country the local wallet here is licensed by BSP (Bank of the Phillipines) so when you cash out your money it is straight into bank accounts and if it is suspicious then your money can be held by the bank and you must provide documents that prove it is the safe legal way you earn.

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