LogitechMouse
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May 15, 2018, 10:18:17 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?
Since bitcoin is anonymous, there is no way they can know that you are holding money if you are from Venezuela. The only thing they can know that if you are holding BTC or any other coins is if you given your KYC into an exchange. |
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KrishaBitcoin
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W12 – Blockchain protocol
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May 15, 2018, 10:30:28 AM
Last edit: May 15, 2018, 02:01:52 PM by KrishaBitcoin |
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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?
For your information Bitcoin is not banned in Venezuela in fact the president of this country created their own version of Crypto currency name Petro coin. Your Bitcoin will not be discover by the government because it is decentralize that is why other nation is against of Bitcoin existence but still your transaction will be trace every time you will convert your Bitcoin to fiat in your local exchanges as per government regulation policy but that if Bitcoin is legal in your country but if Bitcoin is illegal in your country then it is very impossible for you to join this investment to earn. |
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gesdan
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May 15, 2018, 10:34:47 AM |
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i think the government can't trace it from the address because the address is to universal to anyone in the world, but maybe it can trace by the history of your surfing on internet, if you visit the website that related in bitcoin network maybe government can know about this information from the internet services providers
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timerland
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May 15, 2018, 10:52:10 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?
In reality, these laws are extremely hard to enforce. First of all, it's not actually illegal to have or use bitcoin in Venezuela. In fact, mining is actually completely legal as well, which is better than some countries even. The government has its own crypto as well, so it would make no sense to ban BTC which is the major crypto. A government can pretty much only trace you down with leads from third party exchanges, etc.. However, even then it'll be hard to actually see for a government whether you hold any BTC and how much BTC you're holding. Practically speaking, it's simply not worthwhile for them on a effort and money basis to enforce these regulations if you're just an average Joe using bitcoin. Again, it's the beauty of decentralization. Governments can't just say one day that they want to shut BTC down and do so, since it's decentarlized. |
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johnwest
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May 15, 2018, 10:55:05 AM |
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Bitcoin is pseudo-anonymous. If it is a surprise to you then you are welcome.
Nowadays, exchanges won't let you buy/sell cryptocurrencies without KYC, if the govts build a team to track the transactions from your information given to the exchanges then I think they can ask for you with your tax information.
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UmerIdrees
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May 15, 2018, 10:55:20 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?
I think Government cannot control or ban crypto. Even if they ban in your local country you can still buy/sell or trade on international websites. |
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Skyshark
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May 15, 2018, 11:22:17 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?
One of Bitcoin's most important features—and perhaps its true core innovation—is its decentralized structure. By being decentralized, bitcoin transaction no middle-man is required, and they can’t be linked to owners who don’t want to be identified. Your government or any government so to speak will most assuredly have a hard time tracking down certain bitcoin individuals. Therefore nothing they can do to discover you my friend. Be at peace. |
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basyang
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May 15, 2018, 12:27:01 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?
Well for me the government will discover bitcoin unless their is an investor who report it to the police. And it will trace it because of the information they gave. Government can not control to banned bitcoin from the users. Especially if it gave a big profit to the users. Just like what @gesdan say Bitcoin can not be trace because it is universal. And it can only trace through the history of your web. And unless you give your bitcoin information online or posting in social media because it can attract to the people who will read it. And the government did not do any actions if you did not break the laws that covers the cyber crime law. |
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12tribes
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May 15, 2018, 12:31:40 PM |
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Every country has an IP address. Using the IP address of your country can make you vulnerable. While they may not be able to pinpoint the exact location, the may be to detect up to a radius of 50km,who is using what and when. It can be traced.
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Ridwan Fauzi
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May 15, 2018, 01:21:38 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?
If you have assets on local exchange and often exchange money from local exchange to paper money, the government will easily know you have bitcoins. Keep in mind, when verifying accounts on local exchange you need to include your identity card, this will make it easier for the government to track users of cryptocurrency. Because I know, a local exchange will run if it is approved by the government. |
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Man From The Future
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May 15, 2018, 11:50:49 PM |
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Government is very difficult to track bitcoin users, because the government can not regulate bitcoin (its decentralized). The government can only track through our bank account statements at the time of money disbursement transactions, but the government can not confront us as bitcoin users. It is likely that the government can track bitcoin users through forms that use KYC or identity.
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Fire316
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May 15, 2018, 11:57:12 PM |
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In my knowledge bitcoin is anonymous ,meaning nobody can trace your transactions even your wallet as long as you didn't give you identity or enter it when you make a transactions. bitcoin is decentralized that no single authority controlled it even the government that's why it is difficult for them to trace your bitcoin without showing your real identity.
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dimastegar
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Small Trader
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May 15, 2018, 11:58:39 PM |
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Perhaps the government can take our data through some local exchanger that exist in their own country. Because the government has special rights and special regulations to do so. And I think the exchanger can not refuse it.
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macchiato
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May 16, 2018, 12:17:54 AM |
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They won't be able to find you unless you have signed up for some exchanges that requires personal info or in a KYC. Bitcoin is from a decentralized system so unless you spoonfed the internet with your personal info in connection to your addresses, you will be safe from being tracked down. That is why you should be careful on the things you participate especially because you live in a country where bitcoin is banned.
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Hairpin
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May 16, 2018, 12:25:06 AM |
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Bitcoin's has its share of privacy shortcomings. So perhaps during a trade, it can be traced. But the demand for financial privacy won’t disappear, and new systems are already emerging.
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Mia Wallace
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May 16, 2018, 02:21:11 AM |
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No, it is not possible for any government to trace the Bitcoin user because it is decentralized in nature and no inter mediator. It is anonymous only the buyer and seller deals without a third party. The transactions are are recorded in an electronic ledger which is controlled by the blockchain technology. The Bitcoin can be operated through out the world electronically. This is a modern form of economic transition for the benefit of the humanity which will be a contradiction to current concepts for the modern era.
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Lamisa asfiya
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May 16, 2018, 08:27:24 PM |
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Goverment can trace if you have your own bitcoin wallet like coins base. Goverment can track if you register your account while entering. If you register with your photo and NID card, you can easily track.
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castellodocet
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May 16, 2018, 08:37:46 PM |
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I think it's possible for them to know if you have bitcoins if you have sensitive data linked to your wallet address on the internet
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edjames
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May 16, 2018, 08:47:54 PM |
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If you're not using a VPN they could see that you are visiting exchanges or wallet site such as MEW
Obviously, this doesn't prove you hold any crypto but it will probably get your name on a list. if they really wanted, they could get the ISP to "man in the middle you" and decrypt the https to confirm you are making transactions, but this is probably targeted to really serious criminals.
Don't forget it's a public ledger and so any transaction you make could be potentially be anonymised (you buy it with dollars from a bank account in your name), or buying stuff with it that is delivered to your address, etc.
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jak3
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May 16, 2018, 08:52:45 PM |
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No matter What you do you will be tracked one day and the main cause of it will be when you are going to transfer your Bitcoin into Real world money. As long as you are inside the Bitcoin system yourself and anonymous. Although we are still trackable just like FBI did. The track down the owner of deep web shop and arrested them even though they're using Bitcoin payments this still got succeeded in tracking him.
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