Cryptocurrencies aren't anonymous anymore

[farhaan]

Bitcoin is just pseudo anonymous.Even if some countries force strictly to follow KYC, I still hope that there are more other options for bitcoin holders to cash out their coins behind the scenes unknown to the government authorities.

If still,any one wants to use bitcoin unknown to any one,then he could use mixer services to make their bitcoin transactions unknown to any one.

The government could not identify any bitcoin holder unless he sells his bitcoins for cash.It could still be sent to abroad P2P unknown to any one.

Monero and zcash were earlier welcomed much for their anonymity but they failed to get popular.

[1713304021]

1713304021

[budz0425]

What happened in South Korea is good for as long as they gave chance for their people, what they were just protecting is also their government as they don't want to to tolerate people for avoiding tax. It would be still anonymous as the transactions would be for bank to investor and investor to government only so other people still won't know who you are. But, the worst part is you cannot avoid tax anymore.

[jimrome]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

Bitcoin is not anonymous from the start and the white paper did not tell that it would be anonymous as it is a public ledger ,with the new regulations coming up none of the coins will be anonymous anymore because all the exchanges will be having your identification details.

[The_Dark_Knight]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

South Korea today, however, is increasing regulation on all cryptocurrency exchanges as reported by https://revoltmedia.org/south-korean-new-rules-on-cryptocurrency/.

South Korean laws passed this morning are now only letting South Korean exchanges accept users if the user has real-name bank accounts connected.

Regulations like this are the first of many soon to come that will try to take anonymity from cryptocurrency.

The South Korean government reasoning was to prevent money laundering and other illegal activities.

Bitcoin and many other currencies were never meant to be anonymous that was a misunderstanding of the technology, you are as anonymous with bitcoin as with your email, no matter what you do you are going to leave a trail, with time coins that had anonymity at their core appeared, most notably monero and dash, but it is obvious such coins are the ones that are going to receive the most attention in order to avoid criminal activity in them.

[Agaton]

For me, even someone saying about bitcoin as being anonymous cryptocurrency, all I can say is more on positive result of bitcoin on which highly contibutes additional income worldwide to the people. Many years already passed by, but still bitcoin standing with a good condition on which many bitcoiners developed their living status, so, even bitcoin is anonymous but the total effects are highly good, so for me, bitcoin is the number one in my heart. Let's go and support bitcoin.

[Quonelet]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

South Korea today, however, is increasing regulation on all cryptocurrency exchanges as reported by https://revoltmedia.org/south-korean-new-rules-on-cryptocurrency/.

South Korean laws passed this morning are now only letting South Korean exchanges accept users if the user has real-name bank accounts connected.

Regulations like this are the first of many soon to come that will try to take anonymity from cryptocurrency.

The South Korean government reasoning was to prevent money laundering and other illegal activities.

I think it became famous and well known that the price went up too many times to make the world known. And all crypto is not exactly what it says it is no longer something anonymous except that its owner is unknown.

[BossMacko]

Cryptocurrencies like Bitcoin is anonymous because you can create lots of accounts in a gambling site without them knowing you, atleast that is where i think you can become anonymous. Unlike in other online gambling site you need to verify your identity before you'll be able to withdraw or register.

[Yakamoto]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

South Korea today, however, is increasing regulation on all cryptocurrency exchanges as reported by https://revoltmedia.org/south-korean-new-rules-on-cryptocurrency/.

South Korean laws passed this morning are now only letting South Korean exchanges accept users if the user has real-name bank accounts connected.

Regulations like this are the first of many soon to come that will try to take anonymity from cryptocurrency.

The South Korean government reasoning was to prevent money laundering and other illegal activities.

Well they can sure as hell try to go after exchanges and force them to add individual's identities, all it will do is encourage the creation of the peer-to-peer exchange networks. It's a never-ending game at this point, they'll try their hardest to enforce some of these rules and it is just going to muck up the little control that they have already. It makes sense as to why SK is taking actions about this, though, since there is a chance that NK is using agents within the South to send money they might earn from cryptos back into their country. But that's just a conspiracy theory of mine.

[BillCoin]

Bitcoin has never claimed no be anonymous, and I think it's for good, as it is much easier to regulate something that is not anonymous.

Darknet usage rate in bitcoin is really low, darknet has moved to Monero and Dash, those coins are a good replace for bitcoin at the anonymous section, they are much more anonymous and untrackable.
Bitcoin offers variety of other things such as very strong network, anonymous is not one of them.

[xfaqs01]

not anonymous but pseudonymous, unless if you are reffering to privacy type of cryptocurrencies specially those that are TOR integrated platforms for complete anonymity like verge, onion etc.

[jaredl]

bitcoin has never been anonymous and has never hide your  transactions on the blockchain. If you had purchased bitcoin from any exchange that accepts fiat from your
bank account, then your identity is not anonymous. It will be easy to link your transactions on the blockchain back to your bank account.

This has been the spirit of bitcoin ever since the start. The only way to be anonymous with Btc is to buy your btc with cash and via peer to peer such as localbitcoin.
At this moment, to be anonymous you will have to use coins like Xspec, Monero etc.

With the growing regulations such as in SK, it will be even less anonymous.

i think there is a business case for privacy coins like monero and xspec..

[Rhaizan]

It's true, but with a little attention, you can keep your anonymity.
Of course, if you make just one single mistake you are done.
So, be careful...

For me keeping our info is good, because this is crypto currency as long as we don't do anything wrong we stay connected in bitcoin, and we  can earn bitcoin without knowing our personality because our info is too personal.

[Anteros]

The bitcoin has never been anonymous, like other crypto currency all this is a myth, somehow you exchange it for fiat and thus you open your personality. The whole issue is that it's harder to track down no more.

[NicG13]

This was always going to happen with increased adoption. But if anonymity is what you're after there are options out there. Have a look at DeepOnion.

[just_Alice]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

When was the time that bitcoin was completely anonymous? You have an exact address and yes, nobody knows who does it belong to, but it's no secret that transactions aren't anonymous, so every address can be tracked and if you link it to something else - you're not anonymous anymore. As it was planned - for each transaction you should use new address, this would enhance your anonymity, but even such transactions can be tracked.

Then I suggest you using any service like the Chipmixer or the bitblender. They are quite effective in breaking the trail of the bitcoin transactions and increase your anonymity.

Yes, that seems like a good decision. But how do you know you can trust them? In my understanding of how it works you kind of send your money and the address, where you want your money to be delivered and then website workers do that for you? How do you know they won't mistake, or just take your money. Or, in case it isn't done manually, there's still another problem: how can you be sure that you transaction story isn't kept? I know I'm being paranoid, but seriously, how do they prove it?

[tweetbit]

I’m good with it, regulation is necessary to strengthen bitcoin and giving the government a hand on controlling the illegal activities that’s is hiding beyond this anonymity. And I do agree they South Korea is making a big move for the security of investors money. It will also be a good indications from other business owners who value legality’s before adaptation.

[agentx44]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

South Korea today, however, is increasing regulation on all cryptocurrency exchanges as reported by https://revoltmedia.org/south-korean-new-rules-on-cryptocurrency/.

South Korean laws passed this morning are now only letting South Korean exchanges accept users if the user has real-name bank accounts connected.

Regulations like this are the first of many soon to come that will try to take anonymity from cryptocurrency.

The South Korean government reasoning was to prevent money laundering and other illegal activities.

The reason why cryptocurrencies are not anonymous anymore because there are so many people are posting in social media's like Twitter, Facebook, YouTube and etc. Telling that you can earn by sitting infront of your desktop and some news tells that bitcoin and cryptocurrencies are just scams and you cannot earn with it that is why many countries banned bitcoin.

[NeuroticFish]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Nothing have left Bitcoin. Bitcoin was never anonymous. Pseudo-anonymous means not really anonymous.
Only the ones too new in this could be surprised, really. And I bet you are not that new.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

US Dollar, the bill as anonymous as Monero, is even more used in illegal activities, however, you don't "advertise" that. And I can bet that gold is in the same situation too.


Now my question: who pays you to share this bad advertising (FUD) against cryptocurrencies?

[G2z_Riya]

Most of the cryptocurrencies were anonymous in nature, but these days the governments try to evade into the community and try to keep each and every activity related to cryptocurrency under their control. This is hard to regulate and if this gets effective the people won't feel bitcoin to be a better thing.

[boyshx]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

South Korea today, however, is increasing regulation on all cryptocurrency exchanges as reported by https://revoltmedia.org/south-korean-new-rules-on-cryptocurrency/.

South Korean laws passed this morning are now only letting South Korean exchanges accept users if the user has real-name bank accounts connected.

Regulations like this are the first of many soon to come that will try to take anonymity from cryptocurrency.

The South Korean government reasoning was to prevent money laundering and other illegal activities.

I don't think that the title is valid at all. Crypto currencies are anyway not anonymous because this is what bitcoin.org says here :

All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address.

(Referred & copied from bitcoin.org)

With that said, I'm pretty sure same principle is followed by the different alt coins too. I can just easily scan the ETH address on the etherscan.io and checkout the balance, history of transaction and much more. So thats not anonymous at all.

The South Korean government reasoning was to prevent money laundering and other illegal activities.

That may or may not be true but that doesn't change the facts of cryptocurrency principles like its anonymous, it can't be used for money laundering etc.