Reminder: EVERY transaction is visible on the blockchain

[hollandvan]

"The guy was busted because he had 5 big packets all labelled to be sent to him, when the police searched his place they found a USB key that had an unencrypted word document containing his bitcoin address, recovery seed and his private key. He pretty much went full retard in regards to security. They shouldn't give the Danish government too much praise."

IMO, if he deals drug business, he should use a more secure way to protect himself, if i were a criminal, I will use brain wallet. Not a simple way he did.

[Finestream]

Thanks for reminding, but that does not require a certain degree of knowledge to know that. By knowing what is bitcoin and its basics, we already have the idea that we have a public ledger which is very transparent and can be access 24 hours/7 days. Anyway, hope this helps to the newbie who thinks bitcoin is anonymous and does not fully study bitcoin and just listen to what other's opinion for their knowledge.

[LuanX3]

Well that is true that it is public, but we can always use methods that would hide our activities so that we cannot be traced. First is always use a freshly generated address to received the bitcoins then use a mixer to send it to elsewhere. That will make it look clean. The problem though, is cashing it out. Laundering is not easy as just mixing coins.

[stadus]

Well that is true that it is public, but we can always use methods that would hide our activities so that we cannot be traced. First is always use a freshly generated address to received the bitcoins then use a mixer to send it to elsewhere. That will make it look clean. The problem though, is cashing it out. Laundering is not easy as just mixing coins.

Hiding is hard when we know the government will always intervene in bitcoin, with the use of bitcoin mixer they say it is possible to hide our transactions but I have not tried it once since I do not do shady things. Maybe if gambling will be declared illegal in our country I'll try it since I know the penalty is not that serious though.

[squatz1]

Some people in this community really go ahead and think that bitcoin is anonymous on its nature and no one will be able to know who made a transaction, in all honesty it's pretty simple to find out what you're doing with your bitcoin through probably around 10 mins of searching through google and here (if a member of course)

people still believe bitcoin is anonymous?

Blockchain is transparent, but u are safe. No one ask your info for creating wallet. No one know your profile seeing address.

that's just half true.
if you use, even if just one time, this address to send/receive bitcoin from some place where they know you, it maybe be enough to track you down.
remember silk road? search a little about how the owner were tracked and you will see.

The media made this false narrative when it came to Silk Road in saying that Bitcoin was this "big bad online anonymous drug currency" which led people to believe this, so I think that's where the false narrative came from.

[yellow1]

Its not anonymous, but pseudo-anonymous. So its easy to anyone to search and find out what's is the activity on one's address. Exchanges requires you to give them your information for KYC and AML complaint. I also did my own investigation once on my cousin's wallet and found out where his putting his bitcoin.