Europe wants end to anonymous Bitcoin transactions

[NeuroticFish]

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/

Well, nothing to do there.
Bitcoin transactions are not (fully) anonymous.

[bearex]

aww shit:D But nonetheless, i like Bitcoin even if it wouldnt offer anonymity. It is just easy to pay with low fees.

[Carlsen]

I think the average transaction will stay as it is, just if you sell your coins, they want to have some ID system.
Probably tax related.

[pawel7777]

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.  

But that's my point, if there's no annonymity (and you can't use BTC for anything illegal + you pay taxes on trading etc) there's no excuses left to ban BTC. Therefore, if that was the goal - they'd be trying to ban it now alltogether, rather than just trying to take out the annynimity.

There will be no 'government backed cryptos' (in the form as we know it). No government would voluntarily restrict itself from being able to create money at will. It would require changing the current financial/money issuance system. The best/worst you can expect is governments using private, closed "blockchains" for managing and distribution fiat money. But that's far from 'government cryptocurrencies'.

[tbterryboy]

Europe to end bitcoin? I think that is highly impossible, since the introduction of bitcoin, it has been under Governments surveillance. But bitcoin grow in it's own way. Many European countries have already approved Bitcoin with Asset status. So, there wont be any problem I believe.

[lixer]

Europe to end bitcoin? I think that is highly impossible, since the introduction of bitcoin, it has been under Governments surveillance. But bitcoin grow in it's own way. Many European countries have already approved Bitcoin with Asset status. So, there wont be any problem I believe.

I too don’t believe that Europe can stop the use of bitcoin, no matter what, they just have to learn to live with it.
Bitcoin has come into existence, and there is no going back for it. Bitcoin will continue to exist, trying to end it, is just a impossible task for them......

[elvizzzzzzz]

When they talk about banning banks I'll start to believe.

All wars are banksters wars, and in times of peace there's always fraud, money laundering,
and corruption.

[DimensionZ]

It's not a bad thing because all the Bitcoin scammers rampaging around now will be hit the hardest and they won't be able to hide behind the anonymity any more.

[Cuidler]

When they talk about banning banks I'll start to believe.

All wars are banksters wars, and in times of peace there's always fraud, money laundering,
and corruption.

We seen many times Banks just pay fines when getting caught with money laundering or finnancing terrorism themselves. Try this yourselves and let see if you get just fine  Obviously there is something rotten here when all are not treated equeally...

[blunderer]

...
We seen many times Banks just pay fines when getting caught with money laundering or finnancing terrorism themselves. ...

And the money they use to pay those fines? They either steal it from us, or print it out of thin air!
This is SO UNFAIR!

[Capitascism]

I dont see how Bitcoin ruins integrity of Eu?
Why they even bother with this minor thing, when they have immigration catastrophe.

[Amph]

I dont see how Bitcoin ruins integrity of Eu?
Why they even bother with this minor thing, when they have immigration catastrophe.

because they can not deal with immigration, problem but they can problably deal with this

they are avoiding on purpose big problem, but remember that this is not for private user, private user can sell how many coins they want with another private, no one will ever know about it

[Betwrong]

I dont see how Bitcoin ruins integrity of Eu?
Why they even bother with this minor thing, when they have immigration catastrophe.

because they can not deal with immigration, problem but they can problably deal with this

they are avoiding on purpose big problem, but remember that this is not for private user, private user can sell how many coins they want with another private, no one will ever know about it

Yes, I agree. As long as we are not going to transfer millions dollars' worth in Bitcoin we shouldn't worry about their intentions. Wait ... Actually we shouldn't worry in any case because there is always a way to do something if you have brains ... and money.

[calkob]

good luck trying to enforce that one you pack of tyrants.......

[OSAC5CO]

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. 

Who is going to want govt crytpo? its CENTRALIZED! Same as fiat.

[PakistanHockeyfan]

Most people want an end to anonymous Bitcoin transactions, but Bitcoin is all about anonymity so that is just impossible.

[owm123]

Most people want an end to anonymous Bitcoin transactions, but Bitcoin is all about anonymity so that is just impossible.

I think you have it backwards. Bitcoin is not anonymous (http://www.bitcoinisnotanonymous.com/), it is pseudo-anonymous. For many, this is a problem, as it leads to issues with bitcoin tracking, blacklists, weak fungibility, etc. Thus, many would like to see this problem solved, or at least minimized, for example with confidential transactions added to bitcoin.

[randchingo]

Today's world is very much against anonymous transactions and everyone is against it at least countries view, I don't think they will be able to though.

[elizabethqueen]

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/

not impossible,but also not eaasy as long there was many people who use bitcoin for illegl thing,i guess Europe will against some people who dont want this happen,they must regulate some exchange and wallet about personal identification.

[designerusa]

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/

stupid eu .. they are falling out with each other over refrugee crisis ..they are attacking bitcoin for hiding this.. but they wont succeed in this.. bitcoin is unstoppable..