Crypto Mark
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June 15, 2018, 10:00:22 AM |
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It's a bit hard for the government to do tracking for two things. First, bitcoin is pseudonymous. The government does not know who the owner of the Bitcoin address is unless you tell it. Secondly, Bitcoin uses Blockchain database that is not controlled by any party.
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bitcoinman93
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June 15, 2018, 10:02:15 AM |
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How can the government discover I own BTC, let's say I'm from Venezuela where crypto is banned, what they can do to discover and arrest me?
Bitcoin transactions are anonymous. As long as you don't reveal your identity, no one know you are a bitcoin holder. For this purpose you have to buy bitcoin peer to peer from a person you trust. Never use exchanges that force you to verify your identity. sir very well explained but i just want to know 1)through wallet address can government identity the person 2) if someone trying to exchange his crypto currencies into fiat , is government can know about this? Government can know about it if they receive the data from exchange or payment processor. If you're buying the bitcoin with bank transfer for example, it's easy to trace the transaction from your bank account |
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crystalworld
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June 15, 2018, 10:07:20 AM |
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No, not possible since its transactions are anonymous. Expect you exchange for flat money, paid into the bank and the narration is bitcoin payment  . Your exposed to the bank |
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kucritt
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June 15, 2018, 10:13:10 AM |
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for tracking without anything i think it impossible because we can see that bitcoin is the one that has the anonymously transaction its mean that no owner record and no receiver record of the transaction, the only ways is from the market and KYC from that market or exchanger of your country
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jaocoincrypto18
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June 15, 2018, 10:14:34 AM |
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How can the government discover I own BTC, let's say I'm from Venezuela where crypto is banned, what they can do to discover and arrest me?
The only chance that the government can tract your Bitcoin ownership and transactions are thru your local exchanges in which we are required to submit legal documents and government ID's but outside local exchanges it will be impossible for our government to identify the Bitcoin ownership because Bitcoin is decentralize and anonymous in which tracking Bitcoin owners is very impossible. |
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Menawikitajodohkok
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June 15, 2018, 10:18:11 AM |
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the government is very easy to find it at the time of transaction or exchange of money, what else is now more sophisticated era every year, then the government more find .
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cryptokingdom
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June 15, 2018, 10:27:19 AM |
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You can be trace if you sell to an unknown person, you may not know if the person is a government official that is trying to spot out bitcoin owners. If bitcoin is ban in your country it will be very difficult to exchange your bitcoin to fiat because no bank will pay.
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Zeronic
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June 15, 2018, 12:29:06 PM |
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How can the government discover I own BTC, let's say I'm from Venezuela where crypto is banned, what they can do to discover and arrest me?
Easy, the government can trace your address maybe in your exchange address. usually the exchange may required KYC so you can trading on that exchange. |
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RXKING
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June 28, 2018, 05:42:44 AM |
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No they can't trace an individual having a bitcoin or holding of any crypto. But the government can impose some fee on the transaction like additional fee when you go to an exchange. It is really possible like here in the Philippines that the exchange like coins.ph have been regulated by the government agency and the Bangko Sentral ng Pilipinas that gives coins.ph a license to operate. In this way coins.ph could be directed to get an additional fee for the government fundings in every exchange or transactions to be done.It is not possible for the your government to detect if you have Bitcoin. This is because the transactions on the Blockchain cannot be intercepted by any other person or unit. However the only way is for the government to spy on its citizens for the websites or web portals that they normally visit.
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crypto1010
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June 28, 2018, 05:51:34 AM |
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How can the government discover I own BTC, let's say I'm from Venezuela where crypto is banned, what they can do to discover and arrest me?
The process of tracking bitcoins would require a lot of resources to establish a money trail.... First off if a bitcoin address is used several times its almost certain that anybody can track you that's why tumblers and a new bitcoin address should be used to avoid such from happening. And as far as I know no government is willing to dedicate so much resources towards this cause. |
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target
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June 28, 2018, 06:13:46 AM |
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If BTC is bann in your country, does it mean illegal?
I'm from a country where the government does mind what cryptocurrency or bitcoin is, probably not for now. But if they bann BTC and consider it illegal, I'm gonna be doomed. Because I have registered to a 3rd party to cash out bitcoins. This company asked my IDs so I can cash out from banks. That's how they can track me now. I bought a car but not registered to my name, wanting to buy a house but its just not that ideal for the situation.
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muhuhun
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June 28, 2018, 06:22:12 AM |
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I am Japanese and I live in Japan. The number of people who gained over 100 million yen (about 0.9 million US$) in BTC last year was announced to about 330 people.
It is said that it is only by personal tax return. In the end, I think the government (at least Jpn) can only grasp the extent of information replaced by cash via exchanges.
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CurtisEvans
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June 28, 2018, 08:58:10 AM |
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Bitcoin is anonymous, so the government can't trace you, if you don't do silly things. As long as your Bitcoin wallet doesn't have links to your bank accounts or any other personal identity of you, then you are safe.
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teterinal
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June 30, 2018, 01:46:05 PM |
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the government has no chance of tracing you. that's why bitcoin has anonimity.
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V1saya
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June 30, 2018, 02:18:04 PM |
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The government can track your bitcoin if you are making cashouts through a registered fiat exchange. Unless you are making cashouts thru peer to peer transaction.
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Verde_Mantis
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June 30, 2018, 02:47:51 PM |
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How can the government discover I own BTC, let's say I'm from Venezuela where crypto is banned, what they can do to discover and arrest me?
The problem is the beginning, because to buy bitcoin you need fiat, so you should open an account on some exchange that doesn't required the KYC and is some way transfer some fiat or other crypto, it's risky but you could buy them paying cash. |
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playtipus111
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June 30, 2018, 02:56:41 PM |
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Yes, there is some way that bitcoin transaction being tracked back. Everyone can see the transaction, after all. That's why what so-called "privacy coin" exist. They provide better transaction system that untraceable, for example, is monero. You can break the chain of bitcoin transaction to monero and back to bitcoin. You can use Shapeshift. If you do it, there is no chance that government know that you have bitcoin.
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@oweljayr
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June 30, 2018, 03:01:47 PM |
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Bitcoin or any other cryptocurrencies are online, even wallets are. No one even the government would know about your account unless you reveal it. So it is better to take good care of your accounts to protect it.
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drm
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June 30, 2018, 03:04:52 PM |
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If you want to stay anonymous watch out linking wallet addresses to accounts where you have real info stored.
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rodskee
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★Bitvest.io★ Play Plinko or Invest!
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June 30, 2018, 03:05:37 PM |
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How can the government discover I own BTC, let's say I'm from Venezuela where crypto is banned, what they can do to discover and arrest me?
Bitcoin transactions are anonymous. As long as you don't reveal your identity, no one know you are a bitcoin holder. For this purpose you have to buy bitcoin peer to peer from a person you trust. Never use exchanges that force you to verify your identity. Yeah i agree bitcoin holders are hard to trace of the government authorities because or their anonymous currency, di not use exchange asking kyc, kyc is tracing the involvement of cryptocurrency holders to protect about anti money laundering law. |
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