Bitcoin has been a global currency since it was released, you could always send and receive it regardless of where are you from. Your proposal of tying Bitcoin wallets to id would never come to reality, Bitcoin was created to be not like banks with their KYC and middlemen, and yet you want to turn Bitcoin into a payment company that is not different from them - Bitcoin community will never accept it.
Topic: Why bitcoin can not become a global currency - page 11. (Read 1932 times)
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
I think the main reason is not related to money laundering. Because it can done with any currency digital or not. In my opinion, the main reason can be Bitcoin's volatile and decentralized structure.
I think anonymity is a quality of bitcoin and Cryptocurrencies which is the reason why they are so popular however complete anonymity is more or less a myth because we already have kyc for a lot of things. However attaching a unique id for every address would definitely kill the very main quality of bitcoin. It would hamper it's growth in long term and yes money laundering through btc will also stop. Moreover such an id would mean that there will be a central authority keeping record of such thing and therefore it would more or less kill bitcoin.
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
Tracking wallet transactions from a scammers wallet is just a piece of cake. Some people can easily track someones transaction, as long as you have the main suspects wallet address it would be so easy.I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
Money laundering incidents happens more on fiat currencies day by day money laundering transaction happens even more than the bitcoin money laundering count in each day.
I think you are talking about KYC/AMLC documents per bitcoin users. Actually there are movement that requires all bitcoin transactions to include sending of person KYC in that transactions. I forgot what agency is that set the guidelines. If I remember well I have read it yesterday and many companies are already lining up to bring solution to make transactions sent together with KYC. But let us get to the point that removing privacy and increasing security will increase the number of bitcoin users. Syndicates will not use authorized exchanges when sending bitcoins they will just use qt wallets or electrum wallets to send bitcoins to the other party without having to comply with the KYC. Removing the privacy to bitcoins to make it a global currency is not the real solution, the real solution is the adoption and legalization of bitcoin in the global arena.
Money laundering are also happening with the fiat money yet they can’t prevent it and they can’t track the whole amount of money well its just the same with bitcoin. This is a decentralized market and currency, with bitcoin it will be more secured and efficient and I don’t see any reason to track bitcoin wallet, we need privacy and we need to control our own money.
Many side blame bitcoin about the problem of money laundering, even though money laundering was there before bitcoin was created.
There are still many ways to deal with money laundering, no need to track all cryptocurrency wallet. that's is silly act. the question
why bitcoin cannot become a global currency, the answer is simple because bitcoin is decentralized and nobody can control bitcoin.
Because of that many banks and governments can not accepting bitcoin as a global currency.
There are still many ways to deal with money laundering, no need to track all cryptocurrency wallet. that's is silly act. the question
why bitcoin cannot become a global currency, the answer is simple because bitcoin is decentralized and nobody can control bitcoin.
Because of that many banks and governments can not accepting bitcoin as a global currency.
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
You should understand that money laundering can not be the reason why Bitcoin can't become a global currency. Money laundering existed way back before bitcoin was even conceived.
The main reason stopping Bitcoin from becoming a global currency is the low level of adoption, inadequate knowledge, and understanding of how bitcoin works and lack of resources to promote easier use and access to bitcoin.
Money laundering has nothing to do with the low adoption rate of Bitcoin by the general public and can't be the reason why bitcoin can't be a global currency.
Lack of knowedge and being uncautious in such things are the reason why they cant accept bitcoin.
Having an identity for every wallet will just bypass the true purpose of bitcoin/crypto which is giving us anonymity to do any transactions.
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
I think no need for tracking in bitcoin wallet much better for our wallet are only as can know and no need ids for our safe also. Theres a lot of hacker much better to keep secret your personal information so that they don't know who you are. I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
No bitcoin can not become a global currency the governments around the world would never agree to it. For there to be one currency there must be unity all around like the European Union but there is no such thing in case of whole word and nor it is possible in future to have one world without countries.
Have you read franky1 reply? Bitcoin being on the internet automatically make it a global currency, the only problem that lies is the question, will government acknowledge it? Well, some did some did not and majority are on stand by waiting for development country to deal with cryptocurrency and will follow their lead.
I think being global currency does not mean dominating the world and be the only currency used by all. See USD, it is a global currency and yet there are still many other currency existing in the world.
The main reason is all bankers are against bitcoin due to decentralized system.
Not all bankers are against Bitcoin, look at Japan, since the government are into cryptocurrency, banks in Japan welcome it with open arms, Some of the banks here in the Philippines are crypto friendly too.
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
You should understand that money laundering can not be the reason why Bitcoin can't become a global currency. Money laundering existed way back before bitcoin was even conceived.
The main reason stopping Bitcoin from becoming a global currency is the low level of adoption, inadequate knowledge, and understanding of how bitcoin works and lack of resources to promote easier use and access to bitcoin.
Money laundering has nothing to do with the low adoption rate of Bitcoin by the general public and can't be the reason why bitcoin can't be a global currency.
Your description is wrong. It's the not reason why bitcoin still not turn into global money. The main reason is all bankers are against bitcoin due to decentralized system. You can trace bitcoin if you know address won by who. Money laundering doesn't matter in my opinion. You know why? Most of money laundering, crime happening by real money, not by bitcoin. But the only matter is decentralized system, there is not controller that would control bitcoin. If you won bitcoin that means you are the owner of it. No organization there to control your bitcoin. That's why bitcoin still not yet turn onto global money.
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
Since Bitcoin is now primarily controlled by banks, I think it's going to stick around for a while.
However, over the long term, it is certainly not sustainable with its current PoW consensus model.
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
basically, bitcoin has the possibility to become a global currency, but right now, if we wanted an identity in bitcoin transaction, we will take away the essence of bitcoin being a decentralized crypto. Why can't we use bitcoin for transaction using applications that can distinguish user? In such a case that we can still verify the person but not directly changing the bitcoin blockchain structure.
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
You talk about that Bitcoin can always be used for money laundering. But there is a point that you should know. Money laundering is not just possible with Bitcoin. It also can be done by fiat money too. So, I don't agree with you about the reason could be this.
It is not possible for bitcoin to be implemented. An altcoin can be created to follow the procedures but it seems it is too late for bitcoin I believe. We are fanatics of bitcoin but we should always consider that bitcoin is not invincible. https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef
If people want to kill bitcoin, it can be figured out eventually. Bitcoin is not the revolution here. It is the idea that come so far. Cryptocurrency is a revolution and it will bring many new features for banking and payment systems. But, bitcoin will not be able to secure it's place.
If people want to kill bitcoin, it can be figured out eventually. Bitcoin is not the revolution here. It is the idea that come so far. Cryptocurrency is a revolution and it will bring many new features for banking and payment systems. But, bitcoin will not be able to secure it's place.
No bitcoin can not become a global currency the governments around the world would never agree to it.
if all of the governments never agree with it then why do you think bitcoin is still acceptable on most countries these days ? thats only a reason that most of them will agree to use bitcoin but some that bans bitcoin dont agree that bitcoin can become a global currency .why bitcoin can not become a global currency ? because bitcoin is still not yet accepted globally . soon if other countries accept btc , i think its possible fo btc to become a global currency
Ofcourse bitcoin will not become a global currency since its totally unusable bubble. Bitcoin was created as payment system based on blockchain and nothing more. People will use USD as global currency why they should change it on bitcoin? Only criminals using bitcoin as global payment currency since its not monitored by governments.
No bitcoin can not become a global currency the governments around the world would never agree to it. For there to be one currency there must be unity all around like the European Union but there is no such thing in case of whole word and nor it is possible in future to have one world without countries.
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
How can that be possible when you can create an unlimited wallet, Bitcoin was created to be decentralized and to create as many wallets as you want, who will manage to give us ID and how can we monitor each ID, we cannot apply something that we have in a centralized system to a decentralized system, it will be to much work to much time and so many funds just to implement this.
Jump to: