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Author Topic: EU to create database linking ID to cryptowallets  (Read 1618 times)
fred21
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January 13, 2017, 12:31:34 AM
 #1

https://coinidol.com/eu-planning-a-database-to-link-user-ids-to-cryptocurrency-wallets/

Is this simply possible to make?

I know that anybody can create his own wallet with his own application on desktop. How can EU collect all those information. This simply seems impossible to put into action.

What do you think?
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January 13, 2017, 12:53:58 AM
 #2

Are you kidding?  FBI has been doing it for a long time now.  Very easy to do.  Very hard to undo.

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January 13, 2017, 01:09:00 AM
 #3

Is this simply possible to make?
Yes it is, and correct me if I'm wrong coinbase already did this.
How can EU collect all those information. This simply seems impossible to put into action.
Simple, if some big companies or exchanging sites will have a deal or working together with EU regarding to this then they can have personal information gave by users of particular exchange.
What do you think?
This will be good to government side to monitor and to determine those who do illegal doings with bitcoin, and to take tax for this. But for those people who have privacy issues then its very difficult to them.

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January 13, 2017, 01:25:26 AM
 #4

It won't be too difficult if they have access to Exchange databases with user information.



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January 13, 2017, 01:51:03 AM
 #5

This will only work as long as people will keep linking their bank accounts to their coins. It's not that easy to link a person's name to an address, let's not forget that one person can switch between multiple wallets in a matter of seconds and own hundreds of addresses and to make an address one needs literally a second. What if people start buying stuff in stores with bitcoin? Will the shop owners start asking for your ID?
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January 13, 2017, 01:53:30 AM
 #6

Are you kidding?  FBI has been doing it for a long time now.  Very easy to do.  Very hard to undo.
How do you know this? Do you have any source confirming that revelation? I am not saying that this is bs. I am very much inclined to believe that they are doing something like this.
After all people were kept in the dark about global surveillance programs PRISM, Echelon, Tempora, Dishfire, SORM and many more.
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January 13, 2017, 05:35:50 AM
 #7

https://coinidol.com/eu-planning-a-database-to-link-user-ids-to-cryptocurrency-wallets/

Is this simply possible to make?

I know that anybody can create his own wallet with his own application on desktop. How can EU collect all those information. This simply seems impossible to put into action.

What do you think?

We anticipated this. We are making Monero.

Okay. The old man told me to take any rug in the house.
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January 13, 2017, 06:21:03 AM
 #8

This is blatant abuse of our privacy how can they even do this. So I read in one reply if you link your bank account only then they can get tour details. So mine isn't linked so does that mean my address is safe. But what could the possible outcome if they actually have our details. Why would the exchanges give them, isn't it a violation of our privacy? 

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January 13, 2017, 06:39:20 AM
 #9

This is blatant abuse of our privacy how can they even do this. So I read in one reply if you link your bank account only then they can get tour details. So mine isn't linked so does that mean my address is safe. But what could the possible outcome if they actually have our details. Why would the exchanges give them, isn't it a violation of our privacy? 

I do agree but information about our cryptowallets and usernames are on the internet already. It seems they are only compiling the data and put it in internet. I think our privacy is compromise but data are also elsewhere on the net, how much more if your name is after your wallet address posted on net.

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January 13, 2017, 07:26:11 AM
 #10

It won't be too difficult if they have access to Exchange databases with user information.

They already have or can have whenever they want. If this will stop the dirty immigrants turned into terrorist pigs from invading Europe it's actually a very good thing. Privacy is just a myth anyways. Big Brother is always watching  Grin
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January 13, 2017, 07:30:10 AM
 #11

I think that the only solution would be that there would be a fork on bitcoin that added chance for more private transactions, im not sure if the current algorhytm (SHA-256) allows to do that.
That is the reason why mixing your bitcoins is always a good choice, the fees are not that bad to pay for privacy. And also when they do this, they are driving us into more secure solutions, i think that it's no one's business what i do with my coins.
Cheerios, Onni

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January 13, 2017, 07:39:29 AM
 #12

As Bitcoin isn't anonymous, they can always follow the blockchain from the points of access and exit from Fiat.
It doesn't sound to me like it would be too difficult to do, I think a program could follow the bitcoins very easily.

You would be able to get around it if you so chose, make a fresh address and mix the coins or trade through Alts like Monero or Dash, then back into Bitcoin, then you should be anonymous again.

Important for me is that they can't close my account, like they could with a bank account. They can look but they can't touch!
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January 13, 2017, 07:45:00 AM
 #13

It won't be too difficult if they have access to Exchange databases with user information.

which mean that it would be difficult because not everyone is exchanging on a exchange with his ID, many are exchanging in real life or simply avoid those exchange that require sensible datas

it would be a cuncomplete database at best, also it's not like terrorist are so stupid to use an exchange with their ID come on...
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January 13, 2017, 07:47:23 AM
 #14

Would a tumbler not instantly fix any problems your having with your details getting linked? or is it still possible for them to track you down after a good mixing?

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January 13, 2017, 09:32:48 AM
 #15

Are you kidding?  FBI has been doing it for a long time now.  Very easy to do.  Very hard to undo.

If a user have bitcoin on wallet on which his ID is not linked to. Then this is impossible for authority to do that and place his information into a database.

There are millions of wallets. How many of them are linked to ids?Huh
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January 13, 2017, 09:43:02 AM
 #16

What do you think?

It depends on how much correctness is needed.
Clearly, they need "specialists" that understand how to read the transactions (FBI may have more than enough of those).
Then the database will have to tell how likely is that some addresses are yours.
Of course, my list will contain the Poloniex deposit address as mine, for example and may not be certain if my paper wallet is really mine.
It all depends on how many and how complicated your transactions are.

And the fact there are altcoins, many and more of them, makes the job even more complicated in some cases.

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January 13, 2017, 09:49:27 AM
Last edit: May 13, 2019, 02:41:02 PM by LeGaulois
 #17


...and since it is for the sake of Fourth Money Laundering Directive... If the initiative gets support crypto will be recognized as a currency,

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January 13, 2017, 09:59:37 AM
 #18

I think thats possible. Some exchange are requiring personal informations including your picture. This is a way to collect informations of bitcoin users. For that. It wont be harder for them to identify person which is doing shady activities. Its hard to avoid this because you need to give your personal informations to exchange your btc into. Me, i usually convert my btc into cash and it needed id to get it.
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January 13, 2017, 10:13:44 AM
 #19

Would a tumbler not instantly fix any problems your having with your details getting linked? or is it still possible for them to track you down after a good mixing?

I think that if we go with the paranoid method, running something like tails and mixing the bitcoins through some high volume service would do it.
I think that via this way they cannot really be linked to you, Wallet -> Tor mixing service (of course you would need to run tor) -> Tails electrum with persistent storage (runs on tor by default).
That of course would be really viable method, if you did do a bitcoin -> monero -> bitcoin exchange that would be really secure too.
Cheerios, Onni

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January 13, 2017, 10:18:04 AM
Last edit: January 13, 2017, 10:39:49 AM by franky1
 #20


OP post and linked article is another FUD topic made to scare people.

what the actual EU stuff concerns is EU FIAT handling exchanges.. <-read 3 times, have a coffee, read three times again until it sinks in

Euro handling exchanges, which need to be regulated anyway, need to follow regulations(logic.. touch their money follow their rules).

this is the same for any money business.

it is not something about european bitcoin users(that dont handle fiat for business use).
it is not something about european developers making fullnodes
it is not something about european developers making non fiat touching webwallets.

it is about EXCHANGES.


coin idol did not factually talk much about the EU statement and instead made a article where they just talk to other bitcoiners about their opinions.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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