SB16
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August 20, 2018, 03:33:01 PM |
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The government simply track our bitcoin wallet and if we register our account when entering or verifying with our original address and photo because bitcoin with Blockchain technology has a decentralized system. there is a lot of ways that they can track especially if you put your address or your profile, just hide your identity bitcoin is decentralized so they can't track your transactions.
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Fatanut
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August 20, 2018, 03:40:41 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?
Government can trace your bitcoin if you had submitted your personal details to the government and stating that you owned bitcoin. With that declaration the government may impose taxes for every transactions that we are about to make. I think government can't trace you, because it is a digital currency. That's why many bad people used in eligal transaction, it is an anonymous. It is difficult to trace that you have a bitcoin. Unless government can discover or make a machine than can detect bitcoin or bitcoin detector. Your transactions are only "anonymous" when you're using dummy bitcoin addresses. But at the end of the day, you're going to put your bitcoins in your local exchange account in order to cash out your bitcoins. This is the time that you're no longer anonymous and it's the time that the government has learned that you have bitcoins. This is why you're not really "anonymous" in the bitcoin world unless you do extra steps to do so. No matter how many times you put your bitcoins in a mixer, you're still going to need a local exchange site to cash out your bitcoins. And for all I know, local exchange sites need to have a license and all. Basically the government can access their records if they wanted to. They never promised that you're going to be anonymous with them, did they?  This is why bitcoin isn't exactly "decentralized" unless these companies are gone. We are in need of them, at the moment. For us to be actually "anonymous", there are only two ways. One is to have a new website where people just do P2P transactions that has a large community and scams are being moderated. Second, commodities are finally being sold in exchange of bitcoins so you don't have to exchange your bitcoins into fiat before you can use it. |
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damrianto
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August 20, 2018, 04:01:49 PM |
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actually who is trading with bitcoin can be known only with a set of computer equipment and software, they can also be traced whether they are carrying out joint transactions or individual transactions, including whether using a pseudonym or real name.
The bitcoin system is not managed by the central government, but can be tracked by the government who participates in transactions in bitcoin.
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BTCballa
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August 20, 2018, 07:42:12 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 first thing that came up to my mind is when government will accept Bitcoin for every person would be dedicated some kind of Bitcoin wallet personal, and everybody will know that this wallet is yours. |
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gamechangers
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August 20, 2018, 10:45:50 PM |
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I don't think these will be possible with your cryptocurrency wallet since you did not submit any identification while you created it but the use of cryptocurrency exchanges can make this possible because so many of the exchanges require you to fulfill KYC before you can use them.
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MahalQu2612
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August 20, 2018, 10:50:42 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?
There is a possibility that government can trace your BTC if ever they will enter your wallet. But I do not think it will happen because if they make that, they violate your rights to property. However, I don't think they can trace your BTC because transaction in a blockchain is anonymous and no one can detect where your transaction goes on. |
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fishxrboi
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August 20, 2018, 11:09:16 PM |
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It will be difficult to trace that you have bitcoin because there is no identity of the owner of the bitcoin address. and that is why the government is against bitcoin because of its anonimyty
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harimauagam
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August 20, 2018, 11:24:56 PM |
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the government will not be able to track it because it has been properly stored using a wallet made by famous people and the government can only trace the smallest part of this we must be careful.
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dimastegar
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Small Trader
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August 20, 2018, 11:29:35 PM |
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Maybe the government can request data from local crypto Exchangers in their country. Of course, the government must have the right to access it.
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zhelis74
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August 20, 2018, 11:41:41 PM |
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Maybe the government can request data from local crypto Exchangers in their country. Of course, the government must have the right to access it.
Even though bitcoin is a decentralized system but still at this time holders are traceable if they will convert their bitcoin into fiat since the wallet like coins.ph in the Philippines is authenticated and have standard KYC but if only there are lot of establishment accept bitcoin then I think there is no need to convert bitcoin and directly use it and in that way government can't trace that we have bitcoin. |
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ntodntodan69
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August 20, 2018, 11:48:29 PM |
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bitcoin is a crypto currency, so even if your country prohibits crypto, I'm sure your country won't be able to catch you, because you won't know you have crypto at this time. so just relax don't be afraid!
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Pan Troglodytes
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August 21, 2018, 11:18:11 AM |
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bitcoin is a crypto currency, so even if your country prohibits crypto, I'm sure your country won't be able to catch you, because you won't know you have crypto at this time. so just relax don't be afraid!
It really does not matter if he has or has not crypto at any particular moment. If the use of crypto is prohibited and they have the CCTV footage or IP addresses linking him to a transaction or possessing of crypto at any particular time, he may be subjected to those unfair laws anyway. So it is better to be safe than sorry. Be careful man. |
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efxtrader
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GoMeat - Digitalizing Meat Stores - ICO
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August 21, 2018, 12:02:00 PM |
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the government will not be able to track it because it has been properly stored using a wallet made by famous people and the government can only trace the smallest part of this we must be careful.
Government can track our ownership on exchanger. Most exchanger right now want to KYC every their customer when register or withdraw in large amount. I think government will collecting taxes from exchanger transaction |
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tamradhwaj
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August 21, 2018, 12:55:02 PM |
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i think without kyc it is impossible to trace that you are a bitcoin holder. crypto transactions are anonymous. Unless you say it yourself to the crowd that you are a Bitcoin user. but the only way they need to do that you are bitcoiners is when you withdraw with the local exchange which is need your bank account to do the transaction, so they will trace your bank account to arrest you.
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Delinquency
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August 21, 2018, 01:01:00 PM |
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It depends how you get bitcoin. If you are using a wallet which wants you to be registered they can find you easily. If you use an exchange to trade (which they want personal information from you) you'll be caughted.
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Alex_Kidd
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August 21, 2018, 03:08:16 PM |
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At the moment I think that the only way for them to trace you, it's to make a connection between your wallet and the exchange, an exchange where you've been verified of course. I don't see other possibilities.
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Pan Troglodytes
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August 23, 2018, 11:36:47 AM |
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At the moment I think that the only way for them to trace you, it's to make a connection between your wallet and the exchange, an exchange where you've been verified of course. I don't see other possibilities.
Oh there are plenty: the IP address of your computer, the CCTV footage of you in an Internet cafe when the transaction has been broadcasted, the CCTV footage of you entering the bitcoin dealer's office. Possibilities are endless, mate |
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KseniaLard
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August 27, 2018, 03:04:11 PM |
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Yes, guys, the government will be able to track transactions with BTC that you do when you cash it in processing payments in your country. They will be able to do this because most of these companies require that you be the data file itself before allowing you to withdraw your money from them. This is one of Bitkoin's good characteristics - his decentralization.
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jeromix
Copper Member
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Ako Bayot!
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August 27, 2018, 03:06:43 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. Well here in our country we use the local exchange for the safety of our fiat money to exchange to crypto so we have to identify ourselves and in return there are market transaction fee being deducted if our fiat money will be exchange and this is where the government could identify us that we are holding bitcoin or any other crypto and could apply tax on it in the form of transaction fee every time that trading happen. |
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OrangeII
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August 27, 2018, 03:08:37 PM |
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It depends how you get bitcoin. If you are using a wallet which wants you to be registered they can find you easily. If you use an exchange to trade (which they want personal information from you) you'll be caughted.
if you track it from each shipment, of course it's often done. yeah, and that's really helpful. track it from address to address, to an exchanger. it's just that it might require special expertise from the government team to get the transaction quickly. |
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