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Author Topic: Is bitcoin really anonymous?  (Read 1714 times)
ProofOfLambo
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January 14, 2018, 01:23:07 AM
 #1

My questions is not on the technical side, since obviously you can create an address in a very much anonymous way. However, when it comes to spending it or convert it into fiat or even when spending it on a legit shop online you have to leave an identity trace.

I know that with small transactions is fine, under the radar basically, but what happens with significant ammounts?

I am asking this because I intend to become rich in 4 or 5 weeks Grin Grin
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Fantastic33
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January 14, 2018, 01:47:07 AM
 #2

Its not completely anonymous, but pseudoanonymous one.. every transactions on bitcoin is registered on a ledger called the blockchain. On blockchain, only the bitcoin address and amount of bitcoin that was received or sent can been seen, but not the personal information of the sender or receiver (such as name, age, etc). However, every transactions made are publicized to the entire bitcoin network.
Flexibit
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January 14, 2018, 02:09:58 AM
 #3

Bitcoin is not anonymous, but, rather, pseudo-anonymous. By now, most Bitcoin veterans know this. Bitcoin is not really anonymous by default. There are generally reasons why bitcoin is sometimes regarded as anonymous: First, unlike bank accounts and most other payment systems, Bitcoin addresses are not tied to the identity of users on a protocol level. Second, transactions are not tied to the identity of users either. As such, anyone can effectively transfer bitcoin from any address to which it controls the (private) keys, to any other address, with no need to reveal any personal information at all. Like physical cash, not even the receiver needs to know the identity of the sender.
Koro-Sensei
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January 14, 2018, 02:20:20 AM
 #4

My questions is not on the technical side, since obviously you can create an address in a very much anonymous way. However, when it comes to spending it or convert it into fiat or even when spending it on a legit shop online you have to leave an identity trace.

I know that with small transactions is fine, under the radar basically, but what happens with significant ammounts?

I am asking this because I intend to become rich in 4 or 5 weeks Grin Grin
Not entirely anonymous but they cant track your location or the wallet even if youre using it. They can track your wallet address and your wallet address alone Exploits than can track every one that you transacted with. But only the wallet addresses.
Fluffinfinity
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January 14, 2018, 02:25:07 AM
 #5

Yes! Bitcoin is really anonymous. There are some says that Bitcoin should spread and become well-known. But there are also some who wants to hide bitcoins identity since there are dangers when it became popular.

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marilyngroom
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January 14, 2018, 02:25:29 AM
 #6

You can say that real money is not really anonymous, unless you're strictly dealing with money in your hands. So once you convert it into money, then it's not Bitcoin anymore.

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Nhor1011
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January 14, 2018, 02:39:28 AM
 #7

    Bitcoin is not really anonymous because others can see the wallet address when send and receive bitcoin but they can't see your identity,password and private key.

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January 14, 2018, 03:14:39 AM
 #8

My questions is not on the technical side, since obviously you can create an address in a very much anonymous way. However, when it comes to spending it or convert it into fiat or even when spending it on a legit shop online you have to leave an identity trace.

I know that with small transactions is fine, under the radar basically, but what happens with significant ammounts?

I am asking this because I intend to become rich in 4 or 5 weeks Grin Grin

If you spend Bitcoins at an online store and had to create an account with your name, that address can be linked to you along with transactions to and from that address. The same is true when you buy Bitcoins or sell Bitcoins on a site like Coinbase. It is really hard to be anonymous if you do transactions. Your country’s government will be able to trace many of these transactions and the transaction history.
ju5510993
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January 14, 2018, 03:31:28 AM
 #9

COINS the user can open multiple COINS addresses, and address with his true identity in real life, does not have any contact, thus has a certain anonymity, is widely used in money laundering and illegal trade items, but this feature is "anonymous", the currency trading is still can be traced back to the traders themselves. Currency trading history is completely open, everyone can through your wallet address in block chain query your wallet cash inflows and outflows, and ultimate origin can be traced back to these COINS up, that is, from block generated late-development sent to the address. This poses a huge threat to privacy.
isaac_clarke22
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January 14, 2018, 03:41:06 AM
 #10

The economy of Bitcoin is sort of anonymous in the way that you don't know the real person behind those transaction. All sorts of personal information is hidden in the transaction that's why many cyber criminals take advantage to it, but it doesn't mean that it isn't anonymous makes everyone to send illegal transactions without getting caught. The transaction is still registered to the blockchain and there are specified id in every transactions and that is what we call TXID. It is all visible in the blockchain, so it is not really that 100% anonymous. A bitcoin transaction might not be fully anonymous, if it is done in common enterprises or businesses outside because there will be contracts and legal statements needed to be signed to validate a business. Remittance of bitcoin is one of the few examples of transaction where you might not be fully anonymous as you need to state the name of the sender and the recipient.

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January 14, 2018, 03:47:16 AM
 #11

It is because there are unsolved crimes that involves bitcoin that has not solved yet. For instance, a kidnap for ransom case has government left puzzled since they are only left with anonymous cryptographic btc address that is very anonymous in the sense that the transaction has no personal information of the receiver on it.

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youdacapt
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January 14, 2018, 03:57:45 AM
 #12

anonymus is only limited to the non-transparent main identity in all active transactions, the transaction will be seen if the user will withdraw crypto currency to fiat. this should be an important point where kyc can start to be applied, bitcoin is more transparent because anyone can keep track of transactions without being closed by certain parties, Our privacy is clearly more visible and active.

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JinCrypts
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January 14, 2018, 04:06:09 AM
 #13

Bitcoin is not that anonymous, but pseudo-anonymous one at the current time. If you do transactions only your address and how much bitcoin you use will be seen in all bitcoin network, but your personal info such as number, address and etc will not be seen by others for safety privacy.

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January 14, 2018, 04:33:39 AM
 #14

bitcoin is not anonymous the user is , for example i have a transaction of 1btc you will see my address but you will not know who is the owner of that , that is why here in my country they were not recognized bitcoin , banks here would not allow you to open an acct if your funds are come from bitcoin.

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January 14, 2018, 04:57:44 AM
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Bitcoin isn't anonymous. That's just a fact. If you want something anonymous just use a coin that's anonymous like Monero or Dash or the other 100 shitcoin options that are out there. Just be prepared to hope back over to Bitcoin when anonymous transactions come to fruition in the future.
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January 14, 2018, 05:06:07 AM
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I think the bitcoin is anonymous becouse bitcoin is spreading fast on other country and no one knows ho decide the value of bitcoin

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January 14, 2018, 05:25:41 AM
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Bitcoin as a part of economy is still completely anonymous itself unless you don't convert it into fiat, it doesn't leave any records on public ledger by which a user can be traced. There are exchanges which mostly ask for identity verification before trade but of course when you transact, your identity doesn't go along with transaction id. I am sure there is no way to trace someone by btc address or transaction id
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January 14, 2018, 05:31:31 AM
 #18

In some ways bitcoin can be said as anonymous since transaction don't require any information from its users. But the addresses are publicly broadcasted for confirmation.
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January 14, 2018, 05:42:05 AM
 #19

However, when it comes to spending it or convert it into fiat or even when spending it on a legit shop online you have to leave an identity trace.

Thats were the anonymity wont come into place, if you convert it into fiat you obviously go to your local exchange and before you can withdraw a certain amount you have to give requirements of identification to that company so you can convert your bitcoin to fiat.

If you want to be anonymous while converting your bitcoin to fiat find a person who is willingly want to exchange your bitcoin to cash on the spot, of course depending on the amount you want to exchange there might be some condition before you and the other person can continue with the trade.

I know that with small transactions is fine, under the radar basically, but what happens with significant amounts?

You cant go anonymous if you are dealing with big amount of bitcoin with the purpose of withdrawing of buying stuff online, you need a 3rd persons help so you can do all the things that you want like withdrawing bitcoin to cash.

I know there are some people who are ok with trading bitcoin to pure cash depending on where you live is the problem, you can try to post on your localboard here and see if anyone is willing to do that.


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January 14, 2018, 10:22:19 AM
 #20

My questions is not on the technical side, since obviously you can create an address in a very much anonymous way. However, when it comes to spending it or convert it into fiat or even when spending it on a legit shop online you have to leave an identity trace.

I know that with small transactions is fine, under the radar basically, but what happens with significant ammounts?

I am asking this because I intend to become rich in 4 or 5 weeks Grin Grin

Well it depends entirely on how you intend to handle said amounts. If you decide to deposit it to your bank account in one go, you're likely going to sound alarm bells. It depends on your jurisdiction, but in the US, any  transaction amounting to $10,000 or above would cause your bank to file a currency transaction report -- that doesn't mean anything by itself, but you may find yourself being questioned. Breaking it into small amounts won't do either, because it's called structuring, and it's a crime. You can probably get away with transferring a few hundred dollars a month without raising suspicion, but depending on how much you're planning to cash out, it might take ages.

The most 'anonymous' way would probably to find a third party buyer, but that could also prove challenging because he would need enough cash (if he wires you the money then you basically have the same problem lol), and he would know your identity anyway.

All things considered, if you plan on getting rich in a few days, the most convenient way would probably be to declare it and pay the proper taxes.

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