Europe wants end to anonymous Bitcoin transactions

[onlinedragon]

I think Europe has more important problems than Bitcoin.
Immigration second wave is going to begin.
Political instability.
Terrorism.
US with much stronger centralized government didn't try to ban bitcoin..

When they link Bitcoin with Terrorism you can expect they will try atleast.

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[Cuidler]

Bitcoin transactions are public, Blockchain transactions you can see very easy. So everything is very clear - BTC anonymity do not exist. 

Thats why Bitcoin is called pseudo anonymous. As long as you dont reveal identity, your transactions are anonymous.

[bitgolden]

This is quite funny in my opinion because this is like if a person is doing murder with knife , you put a ban on selling of knives.
When they can't stop the criminals and terrorism why do they think they can stop Bitcoins ? I think its funny if hackers and terrorists start using USD , they will demand USD ban too.

[bargainbin]

This is quite funny in my opinion because this is like if a person is doing murder with knife , you put a ban on selling of knives.
When they can't stop the criminals and terrorism why do they think they can stop Bitcoins ? I think its funny if hackers and terrorists start using USD , they will demand USD ban too.

No one is banning Bitcoin. They're not letting you sell it, for their filthy fiat, anonymously. Or, rather, they're not letting exchanges facilitate such transactions.

[SFR10]

Majority of users are against this and I do understand them but the problem here is, them trying to find a way to improve security of everyone and therefor are limiting ways that criminals could fund each other and by doing those, criminals won't be tempted to use it since if they do, then chances of them being caught will be high (not that this alone will solve the problem). I'm in a country that is considered a restricted country and We even have a harder situation on this matter but looking how secure this country is as compared to all the neighboring countries in the region, I could say it's only because of those restricted rules that help so far to have a safe environment around here.

[Kprawn]

everyone CHILL OUT

its not about bitcoin.
its about unregulated exchanges that handle FIAT

they are not going after bitcoin-core to start demanding users hand over ID, its purely exchanges that handle FIAT unregulated.

so chill out, its not an attack on bitcoin

Today it is unregulated FIAT exchanges and tomorrow they decide to close down regulated exchanges that allows for Bitcoin trading. We will have to

find a way for these services to survive, no matter what these organizations decide to do. Let's say, they want to advance their own Blockchain

technology and then regulate these exchanges to deny Bitcoin... It can happen, and it will happen as soon as their technology are completed.

[n2004al]

Europe wants end to anonymous Bitcoin transactions

Money-laundering powers seen as crimp on terror funds if virtual currencies offer (unlikely) help
3 Feb 2016 at 07:18, Simon Sharwood

http://www.theregister.co.uk/2016/02/03/ec_virtual_currency_regulation_suggestion/

Seems normal to me this point of view having in mind their aim in asking this kind of action regarding virtual currencies. According to me if this mean regulation and full legalization of bitcoin and the other digital currencies and the give of those the full status of a legal currency, this can be named a important achievement of bitcoin and the other cryptos in their road to be more strong and more widespread. But there is something very important that must be clarified clearly by the regulation and the legalization acts. Cannot be touched the privacy of everyone. It is one thing the anonymity and a totally other thing the privacy. The anonymity have to do with the criminals while the privacy have to do with the right that have every normal person to make its life like he do and the right (only by him) to make known to the others that he want from this life. This second thing cannot be touched. Otherwise we can tell with full mouth: we are at the beginning of an hidden dictatorship.

[bargainbin]

everyone CHILL OUT

its not about bitcoin.
its about unregulated exchanges that handle FIAT

they are not going after bitcoin-core to start demanding users hand over ID, its purely exchanges that handle FIAT unregulated.

so chill out, its not an attack on bitcoin

Today it is unregulated FIAT exchanges and tomorrow they decide to close down regulated exchanges that allows for Bitcoin trading. We will have to

find a way for these services to survive, no matter what these organizations decide to do. Let's say, they want to advance their own Blockchain

technology and then regulate these exchanges to deny Bitcoin... It can happen, and it will happen as soon as their technology are completed.

I'm afraid the day of reckoning is upon you, criminal.
Turn yourself in to your local authorities, and try to show some remorse for what you've done..

[vrm86]

i think that they are not understanding that you can not stop a decentalized system

old generation is still not well aware how a decentralization work, yes they can hinder adoption, but adoption currently it's a joke anyway, only geek people are using bitcoin basically...

But they could try to control fiat-BTC exchanges - it would be not that hard and quite effective from the EU point of view. Ironically it could help BTC to become payment mean, not speculation asset, as spme people could feel discouraged to convert BTC to fiat and conversely.

[mayax]

i think that they are not understanding that you can not stop a decentalized system

old generation is still not well aware how a decentralization work, yes they can hinder adoption, but adoption currently it's a joke anyway, only geek people are using bitcoin basically...

But they could try to control fiat-BTC exchanges - it would be not that hard and quite effective from the EU point of view. Ironically it could help BTC to become payment mean, not speculation asset, as spme people could feel discouraged to convert BTC to fiat and conversely.

regulation = end of Bitcoin.
BTC was not created to have regulated exchangers.  BTC market is 90% black market and the people who are using it, are not interested in a regulated e-currency which brings STRONG AML, KYC and so on.It's like they will use their own bank accounts.

The black market will create or move to other e-currency like they did it in the past. I.e: E-gold or LibertyReserve.

[neonshium]

You shouldn't worry about this. How are they going to end the pseudo-anonymity of something that they don't even understand? Besides, the most that they can do is request more information from companies.

Europe ending the use of bitcoin is not an easy thing to do. Bitcoin is anonymous, they know nothing about it, surely they won’t know how bitcoin works, this is just a total waste of time for them. How do they think it’s possible to prevent the world from the use of Bitcoin?.

[Rescue Squad]

Europe is scared of more terrorists pouring in among the immigrants carrying invisible money with them. Why the need for a bank account if you can cash out your coins and buy some stuff on the black market?

[7788bitcoin]

Just like my old house with water leakage- when you try to seal the leak, the water will find another crack/gap to leak out.

No matter how hard you try, bitcoin will find the way to penetrate...

[Amph]

i think that they are not understanding that you can not stop a decentalized system

old generation is still not well aware how a decentralization work, yes they can hinder adoption, but adoption currently it's a joke anyway, only geek people are using bitcoin basically...

But they could try to control fiat-BTC exchanges - it would be not that hard and quite effective from the EU point of view. Ironically it could help BTC to become payment mean, not speculation asset, as spme people could feel discouraged to convert BTC to fiat and conversely.

regulation = end of Bitcoin.
BTC was not created to have regulated exchangers.  BTC market is 90% black market and the people who are using it, are not interested in a regulated e-currency which brings STRONG AML, KYC and so on.It's like they will use their own bank accounts.

The black market will create or move to other e-currency like they did it in the past. I.e: E-gold or LibertyReserve.

but the people who are still not interested in bitcoin, are more interested in regulation, the so called average joe

so regulating it, may kill the small user base a little, but it may help the adoption of another type of user base

[partysaurus]

just one question is this realy such a big deal? i mean i have a coinbase acount and they know i own it i had to verify my identity , so is it not easy to find out what person send what money? most people that use bitcoins have to have some kind of online wallet i guess. right me if im wrong.

[MedaR]

People will just adapt to all new regulations and will continue to use BTC!
And once bitcoin go mainstream will be adopted widely in every possible business on internet..
Every scenario for btc is good right now!

[Denker]

What The EC said : "wants to end anonymous trading in virtual currencies in order to help track terror groups's funding"
What The EC will do : "wants to end anonymous trading in virtual currencies in order to help track terror groups's funding every bitcoiner so they can use data to gain something good for them"

Even they can't control bitcoin, they'll regulate bitcoin exchange and company, track bitcoiner & might prevent them use bitcoin as currency.
Maybe it's time to use 1 time address & bitcoin mixer to keep our privacy

Most of the exchanges are already taking IDs from it's customers.Don't see the big difference here.
Furthermore I will still have the option to buy local if I want.
And how they wanna track someones transactions and it's value when you use CoinJoin/other mixers and hopefully sooner than later confidential transactions is implemented?!

[blunderer]

You shouldn't worry about this. How are they going to end the pseudo-anonymity of something that they don't even understand? Besides, the most that they can do is request more information from companies.

Europe ending the use of bitcoin is not an easy thing to do. Bitcoin is anonymous, they know nothing about it, surely they won’t know how bitcoin works, this is just a total waste of time for them. How do they think it’s possible to prevent the world from the use of Bitcoin?.

Lauda simply likes to emphatically state opinions on shit he simply doesn't understand. For instance:

>pseudo-anonymity of something that they don't even understand
It's pseudonymity, Lauda.  Pseudonymity != pseudo-anonymity.

"Pseudonymity, a word derived from pseudonym, meaning 'false name', is a state of disguised identity. The pseudonym identifies a holder, that is, one or more human beings who possess but do not disclose their true names (that is, legal identities)." --Wikipedia

[pawel7777]

everyone CHILL OUT

its not about bitcoin.
its about unregulated exchanges that handle FIAT

they are not going after bitcoin-core to start demanding users hand over ID, its purely exchanges that handle FIAT unregulated.

so chill out, its not an attack on bitcoin

Today it is unregulated FIAT exchanges and tomorrow they decide to close down regulated exchanges that allows for Bitcoin trading. We will have to

find a way for these services to survive, no matter what these organizations decide to do. Let's say, they want to advance their own Blockchain

technology and then regulate these exchanges to deny Bitcoin... It can happen, and it will happen as soon as their technology are completed.

I think franky1 is too optimistic and you're too pessimistic.

If their goal was to delegalize Bitcoin, this EC proposal would be the stupid thing to start with. Because once there's no anonymity they'll have no good reason to ban Bitcoin.

[Kprawn]

everyone CHILL OUT

its not about bitcoin.
its about unregulated exchanges that handle FIAT

they are not going after bitcoin-core to start demanding users hand over ID, its purely exchanges that handle FIAT unregulated.

so chill out, its not an attack on bitcoin

Today it is unregulated FIAT exchanges and tomorrow they decide to close down regulated exchanges that allows for Bitcoin trading. We will have to

find a way for these services to survive, no matter what these organizations decide to do. Let's say, they want to advance their own Blockchain

technology and then regulate these exchanges to deny Bitcoin... It can happen, and it will happen as soon as their technology are completed.

I think franky1 is too optimistic and you're too pessimistic.

If their goal was to delegalize Bitcoin, this EC proposal would be the stupid thing to start with. Because once there's no anonymity they'll have no good reason to ban Bitcoin.

The main reason behind this is not to eliminate anonymity, it is to eliminate the competition. They will come up with some sort of excuse to just ban

Bitcoin and not other Crypto currencies that adhere to their criteria. The government backed Crypto currencies will get the edge and they would get

a good advantage. The reason why they stalling with regulation is, because the currencies they want to support are not fully developed yet. Once these

"private ledgers" are ready, you can bet your bottom dollar, they will try to ban all the other Crypto currencies that does not adhere to their

requirements.