What is the fate of Scammers if bitcoin later becomes a traceable Currency. - page 9.

perla

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Quote from: Baby Dragon on December 08, 2019, 02:41:30 AM

Quote from: Kupid002 on December 06, 2019, 04:58:10 AM

Quote from: nicecrypto on December 05, 2019, 10:29:37 PM

How many scammers who scam people with fiat have been caught? Not all of them because majority don't use real identity, same applies to scammers of btc or crypto most of them don't use their real identity to scam online, peop6 use fake id on exchange, even if btc becomes traceable someday i doubt the authorities will going after each scammers online, it will be a huge workload,
Hackers are more clever than use their real identity to hack unfortunately, those are the big fish that needs the attention of the authorities.

They will always find ways to make scam even using crypto or fiat money . Even the bitcoin is tracesable they will also find many ways to make the money more clean before getting it as fiat currency . They can only trace the address but they will never who own that address and that was the hard part.

I agree with you that it will be difficult for them to find it out but anything is possible when it comes to money so what can we expect? it's absolutely true that they are going to do anything just to get what they wanted, they will always figure out how they can deceive and take advantage of you. Scammers are getting wiser these days and it is the reason why we need to be more aware of our surroundings and be cautious in every decision we make.

Scammers will have more than 1000 ways to scam people either with fiat or crypto like what you all said. Maybe it is right, better to save ourself and make us understand how they are work so we can avoid it. I think it is better to do first and then we can try to make people know how scammer works so they are not trapped.

Baby Dragon

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OWNR - Store all crypto in one app.

Quote from: Kupid002 on December 06, 2019, 04:58:10 AM

Quote from: nicecrypto on December 05, 2019, 10:29:37 PM

How many scammers who scam people with fiat have been caught? Not all of them because majority don't use real identity, same applies to scammers of btc or crypto most of them don't use their real identity to scam online, peop6 use fake id on exchange, even if btc becomes traceable someday i doubt the authorities will going after each scammers online, it will be a huge workload,
Hackers are more clever than use their real identity to hack unfortunately, those are the big fish that needs the attention of the authorities.

They will always find ways to make scam even using crypto or fiat money . Even the bitcoin is tracesable they will also find many ways to make the money more clean before getting it as fiat currency . They can only trace the address but they will never who own that address and that was the hard part.

I agree with you that it will be difficult for them to find it out but anything is possible when it comes to money so what can we expect? it's absolutely true that they are going to do anything just to get what they wanted, they will always figure out how they can deceive and take advantage of you. Scammers are getting wiser these days and it is the reason why we need to be more aware of our surroundings and be cautious in every decision we make.

BeManga

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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 is not really untraceable you can use explorer to see where the bitcoin will go
you can check in wallet explorer if there is other address connected in the user bitcoin address
its not really impossible but it is hard and takes a lot of time to trace user

Asmonist

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I think technically its really traceable. It just need experts to do a thorough research and tracing for cases like that. Basically, bitcoin is created in a virtual way and those people creating are experts and they can really dig into it if needed. Maybe for some unsecure processes or sites might as well scammers will take advantage. Hopefully we can have a particular go to site whenever we experience that situation.

Voland.V

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The network is not and cannot be anonymity. This is an axiom and principle of work. All maneuvers, with TOR or VPN - only complicate the task until the software is written.

Here is a fresh fact (another one this year):

[06.12.2019] University of New Mexico specialists released information on a vulnerability affecting Ubuntu, Fedora, Debian, FreeBSD, OpenBSD, macOS, iOS, Android, and other Unix-based operating systems. The problem allows you to listen and intercept VPN connections, as well as inject arbitrary data into IPv4 and IPv6 TCP streams.

The vulnerability that received the identifier CVE-2019-14899 is associated with the network stacks of Unix-based operating systems, in particular, with the way the OS react to unexpected network packets.

https://seclists.org/oss-sec/2019/q4/122

Kupid002

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Quote from: maxreish on December 07, 2019, 09:55:06 AM

Actually, bitcoin transactions can be traced. Unless used bitcoin mixers to mislead the btc address. Transactions can be seen and IP address are possible to check. Haven't you heard that some criminals were being caught even if they are transacting using btc? Like this one.

There are already tons of advance software now that can track down transactions like btc.

Yes its possible to trace it but the problem how will you know if that persons is the real owner of the said address. Unless they can find the key of the address use to for illigal . If its only for wallet transfer they are chances that the man they caught is not the same person who make the illegal activity .

Edraket31

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Quote from: maxreish on December 07, 2019, 09:55:06 AM

Actually, bitcoin transactions can be traced. Unless used bitcoin mixers to mislead the btc address. Transactions can be seen and IP address are possible to check. Haven't you heard that some criminals were being caught even if they are transacting using btc? Like this one.

There are already tons of advance software now that can track down transactions like btc.

With the help of experts and the government everything is traceable now, there is no impossible if we will just give time. Anyway, so far now, we knew a lot of scammers but it's very hard to caught them, there are even founders who were known in the public and that they are not hiding in the public but still turned out to be scammer, so it would be really not easy to sue them for now.

maxreish

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Actually, bitcoin transactions can be traced. Unless used bitcoin mixers to mislead the btc address. Transactions can be seen and IP address are possible to check. Haven't you heard that some criminals were being caught even if they are transacting using btc? Like this one.

There are already tons of advance software now that can track down transactions like btc.

CookieGums

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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.

When i start bitcoin almost 3 years ago. This is traceable already. But there is no office that can give penalty to scammers and no office and recovery that can help you with scammer. You must fully aware by yourself like me before transacting.

But i think i would be a good thing if there is recovery. The bitcoin will become more centralize. And many more people in the country will enjoy using the bitcoin. I am looking forward to this in future. And seeing bitcoin as the currency in every country

inanilujimi

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Quote from: bitmover on December 05, 2019, 12:13:13 PM

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.

Excatly. People have the wrong idea that bitcoin is anonymous, but only if used with that specfic objective and cautious.

Blockchain is an open book. More open and more traceable than fiat transactions. You just need to know how to look.

There are many services like walletexplorer which also allows any user to connect different public addresses.
So, if scammers are dumb they can be easily be traced.

Is there a deterrent effect so that the scammers no longer do crypto space?
Like for example in prison or what compensation have they taken?
I have never seen such a thing in my country.

mk4

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Quote from: Asuspawer09 on December 06, 2019, 06:26:49 PM

it was kinda traceable since every transaction was recorded in the blockchain or in the etheirscan.io,
but it is impossible to trace the sender of the transaction as a decentralized currency if bitcoin was by a hacker and send the funds to his account there is no way you could get information to his identify you are only going to know the address and trace the transaction of the hacker, also no way to get your money back if it was hack.

It's difficult to track and to affiliate to a person, but it's definitely NOT impossible. A certain person's identity can be easily affiliated with a certain address if that certain person is not careful enough. That's why chain analysis exists. Because sending funds to a wallet address of a centralized platform can affiliate the sender address to your identity.

gentlemand

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I often wonder about this.

As has been repeatedly stated it has always been traceable. What will change is the software that sifts through it. No way will we be told what The Man has already let alone what'll come in the future.

There may come a time where all the tax man has to do is press one button and out spews millions of retrospective tax bills.

Asuspawer09

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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

it was kinda traceable since every transaction was recorded in the blockchain or in the etheirscan.io,
but it is impossible to trace the sender of the transaction as a decentralized currency if bitcoin was by a hacker and send the funds to his account there is no way you could get information to his identify you are only going to know the address and trace the transaction of the hacker, also no way to get your money back if it was hack.

romero121

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Bitcoin transactions were traceable, for the same we've got different websites. If the end users or if particular wallet belongs to a person is known then it is completely transparent. As end users or wallet holding data weren't known bitcoin transaction is termed anonymous, but bitcoin is pseudonymous.

Already its traceable, but without the knowledge of the wallet owner it is impossible to send or receive funds, only the wallet will be visible with clear description of wallet balance and transactions.

xiboothrezi

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Is not every bitcoin transaction and another cryptocurrency can be tracked easily? what is not easy is to get the identity of the wallet owner, if the scammer is stupid and sends the stolen directly to the wallet exchange, it will be very easy to find his identity if it is officially reported as fraud.
Fraudsters are cunning, they will do everything and cover up their bad things well, so we must always be careful.

agentx44

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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 don't it would actually be a good idea to make bitcoin a traceable currency. We are all aiming to be anonymous here so that we can make private transactions since the value of our holdings is very high. I think we should aid scammers through other means like making a system that tracks down scammers and accepts complain from investors. It may seem too hard to achieve but that would definitely be a great help for all of us since scammers are consuming much of our money and our time and they need to be caught and punished.

Eugenar

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What particular traceability are you specifically saying? Because for me, bitcoin is already traceable, and wallet address could be known because of the open transaction or public ledger. And if we are to make bitcoin resistant to scammers, it is quite impossible to track people that are using it. My idea is to send the GPS location of a particular person based on their wallet address where they make transaction. And I think that is impossible because it will disregard the rights of the person having that wallet address interms of privacy.

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Quote from: Yourhomeboy on December 05, 2019, 12:41:48 PM

Quote

There are many services like wallet explorer which also allows any user to connect different public addresses.
So, if scammers are dumb they can be easily be traced.

With wallet explorers what happens to the recovered money.

In addition to the information which you have been provided.
Wallet explorer is a ledger where you can get every information about the in and out transaction list of a bitcoin wallet address. Besides, you can also use it to find out if a certain wallet address is an exchange wallet with the inclusion of the name of the exchange site where the wallet belongs to and this is the reason why @bitmover said

Quote

if scammers are dumb they can be easily be traced.

Leonardo7

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Viewing bitcoin transactions on the explorer will review that bitcoin transactions can be traced to a final destination as it's been moved from wallet to wallet without been tempered with another technology or encryption. Most times people don't really want to trace it because hackers most times will never deposit the bitcoin on an exchange that has their KYC, which could easily lead to accurate tracing and blocking their transactions with enough evidence of course.

Yourhomeboy

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Quote from: stompix on December 05, 2019, 06:53:49 PM

What is the faith of scammers....
I was really curious to hear about although my bet would have been on the majority being atheist.
Fate not faith!!!!!!

You can check my thread topic again, thanks for the knowledge.

Topic: What is the fate of Scammers if bitcoin later becomes a traceable Currency. - page 9. (Read 2195 times)