Anonymity VS tracing transactions.

[kryptqnick]

Whenever bitcoin transactions anonymity is discussed, there are two groups of people. The first group think of privacy of users and the second group think of those bitcoins have been stolen or have been used for illegal transactions.
We cannot have both anonymity and possibility of returning stolen bitcoin to their real owners.
Which one do you choose if you have to choose only of them?
If you choose the second option, please answer the question below.
Now, what's the difference between bitcoin and fiat?

Well, I don't see how these topics are related. If there's one wallet with the money that belongs to the owner of this wallet, and then there's another wallet of the person who decides to steal the money, then the money from the second wallet can be returned to the first wallet without any identification required. I am not sure if reversing transactions is even theoretically possible, but I am sure that the majority won't approve of it. It's not about anonymity, it's about decentralization. Sure, it's sad when the money is stolen, but if the mechanism that allows freezing the money in certain wallets or reversing some transactions is introduced, there will be room for abuse of this system, and Bitcoin won't be much different from fiat indeed.

[Kez1817]

Whenever bitcoin transactions anonymity is discussed, there are two groups of people. The first group think of privacy of users and the second group think of those bitcoins have been stolen or have been used for illegal transactions.
We cannot have both anonymity and possibility of returning stolen bitcoin to their real owners.
Which one do you choose if you have to choose only of them?
If you choose the second option, please answer the question below.
Now, what's the difference between bitcoin and fiat?

I will choose anonymity because nobody knows if who is the person behind those transaction made in the blockchain,it means the privacy. The difference between bitcoin and fiat is very clear. Fiat is regulated by the government issued by the banks and it was centralized while bitcoin is Decentralized digital currency used freely by the people through internet and online currency.

[yoseph]

When I read Bitcoin white paper in 2015 I am happy for us to have a system that the transactions cannot be traced by tax official who is bend to collect tax and embezzled the same funds without taking care of the social amenities that will help the entire populace and as such I am in favor of anonymous or privacy. We should be able to transact with one another without governments involvement or bank involvement. However, criminal and criminality are hiding under this Anonymous to commit a crime against the populace that it should protect and as such government has to come in to secure people investments in crypto currency.

Tax evasion is one of the main reason why these governments don't trust bitcoins and cryptos in the first, Whatever they wiil have to do to collect taxes, they are going to do it. I am not one of the people who who likes bitcoins because of it's anonymity because it's not as anonyomus as we thought it was.

[suzanne5223]

I have one thought with Bitcoin being used for illegal transactions
in my opinion the difference is very clear that fiat uses a centralized system so that it is regulated by printing fiat etc. so that it can be populated by certain groups different from bitcoin which is not regulated by anyone

The decentralized in nature of bitcoin is the only method which will make bitcoin achieve the purpose of its creation or else the voice of the masses won't be count and about the illegal transaction. The institutions are just using that as an excuse cause illegal transaction has been in existence before the creation of bitcoin.

I wish that your thoughts could be resolved. As we all know, sending on the blockchain cannot come back. And if you can come back, guess what the problem is? Trust and safety are not taken first. But for companies or their own platform, for example, Binance, you can ask for assistance to get your money back.

Transaction sent on the blockchain can cancel buddy. If make another transaction with the same input to another address which was control by you and broadcast it. For information read through this thread to understand how to go about it.

[akeegan]

I think we can have privacy focused companies like Ciphertrace who help track large amounts of suspicious activity. They're working with major exchanges but believe in crypto ethos 

[cabron]

I can tell this OP must have lost some BTC in the the past and was never returned. BTC was created the way, this isn't paypal where you can dispute a transaction which made it easy for scammers instead. The option is just not acceptable here because even if BTC isn't a privacy coin, your BTC will still not be returned to anyone who lost it. If you lose your private keys, stolen or scammed your coins are gone.

[BitValve]

Well Bitcoin (and thus its blockchain) is not really anonymous since everything is being publicly recorded and validated in the blockchain. Many people seem to forget that, unfortunately.

[kaya11]

Whenever bitcoin transactions anonymity is discussed, there are two groups of people. The first group think of privacy of users and the second group think of those bitcoins have been stolen or have been used for illegal transactions.
We cannot have both anonymity and possibility of returning stolen bitcoin to their real owners.
Which one do you choose if you have to choose only of them?
If you choose the second option, please answer the question below.
Now, what's the difference between bitcoin and fiat?

You know what, when I was new here and no knowledge about countering any forms of hijacking me, I have no one, I did not even get help when my 1K USD forms of crypto was stolen, I did not beg for it to return. All I Did was sob for a little while and get back on my feet even though it hurts a bit. Now I have learned my lessons, even if the same thing happens, I will still do the same thing and move on, but that's if they manage to hack my account again. Anonymity is my weapon, a countermeasure for any hackers out there, better be unknown and that's what keeps me safe here until now.

[FlightyPouch]

Bitcoin is not entirely anonymous but I would choose it over traced tramsactions. The freedom of spending your cryptos in a way that the government don't know where you are spending them is great. Another thing is that people don't know what is happening since they didn't know I hold bitcoin and at the same time where I am spending it. You have privacy on these cryptos.

[salty]

For me, the important factor is still confidentiality.And it doesn't mean that I'm afraid of anything,just anonymity gives the right to feel independent of anyone.

[mohdk52]

You have privacy on these cryptos.

Privacy is still there, but soon apparently it will only be a false sense of security.

[Ucy]

Whenever bitcoin transactions anonymity is discussed, there are two groups of people. The first group think of privacy of users and the second group think of those bitcoins have been stolen or have been used for illegal transactions.
We cannot have both anonymity and possibility of returning stolen bitcoin to their real owners.
Which one do you choose if you have to choose only of them?
If you choose the second option, please answer the question below.
Now, what's the difference between bitcoin and fiat?

If you choose the second option, please answer the question below.
Now, what's the difference between bitcoin and fiat?

Fiat currencies or cash are quite anonymous... probably more anonymous than Bitcoin. The only point when fiat becomes less anonymous is in its virtual or cashless state. So, fiat has always been very anonymous except that it totally controlled by governments.

[bitbunnny]

Don't have illusion that Bitcoin transactions are anonimous. That was before, at the very begininig but now you can trace almost everything and users often forget that. If you want stay anonimous use cash and not Bitcoin.
We are value our privacy but having in mind all threats in crypto world we have to find the right balance between privacy and security and protection.

[yazher]

Almost everyone, including me, will choose anonymity
One of the most reasons we are here, supporting cryptos, is because we like to have control of our money, and even if BTC is not totally anonymous, we don't like the idea of people tracing us

I'll admit that using cryptocurrencies will improve our privacy. because while using it they have a hard time tracing our real total assets and if we know how to live in a simple way they may not know that we have some big cash with us.

That's why we need to support this kind of anonymity because this is for our own good for our own protection. if we let them trace our tracsaction then this whole thing will make no sense at all.

[rahmatullah9305]

Bitcoin transactions can be traced returned to your IP address. The records of all transactions can be analyzed for spatial and temporal correlations. If one tackle can be linked to a person, then related transactions can be identified. I would say that bitcoin offers a diploma of privateness now not offered through other ability of on-line payment, however for a sufficiently motivated entity, it is possible to reconstruct a person's bitcoin transaction activity. you have to understand what you are doing to use it in whole anonymity. I would now not advocate the usage of bitcoin if you are looking for whole anonymity.

[Hypnosis00]

Both of them have an advantage and disadvantage.
People will prefer to keep anonymous in all transactions cause they'll hiding something either bad or good intentions, it will be their decision.
And I'll keep to preferred of being traceable. Well, I'd never hide something to make me worried nor I have illegalities. The good thing to be traceable is that just in case we lose our money due to the wrong address, we can easily trace and recovered our money.

[mos20]

imo, just because the current monetary system relies on a lack of privacy and giving excessive controll to a small group to protect it's users from theft and fraud doesn't mean that it's not worth while to explore a more preventive approach to these matters that stops the problem from occurring in the first place rather than trying to clean up the mess after the fact and ,as a result, making a whole new set of issues.

[BestBitcoinBuyers]

Anonymity with bitcoin is the only way, we cover how to do it in our thread on this

https://bitcointalk.org/index.php?topic=5178330.0

You can't have some people get anonymous transactions and others want everyone's ID in a centralized database.

Especially with a currency war right now, holding USD, Yuan, Euro, GBP all seem like a bad idea.

Those were once the "good" currencies!!

[audaciousbeing]

Whenever bitcoin transactions anonymity is discussed, there are two groups of people. The first group think of privacy of users and the second group think of those bitcoins have been stolen or have been used for illegal transactions.
We cannot have both anonymity and possibility of returning stolen bitcoin to their real owners.
Which one do you choose if you have to choose only of them?
If you choose the second option, please answer the question below.
Now, what's the difference between bitcoin and fiat?

For me the tracing of transactions is something I would adopt and in extreme situations should be able to know the person behind those transactions. One issue I have about bitcoin is that security part of things. Using fiat, should someone manage to transfer money from my account to another, I only need to complaint and get it reversed. On the other hand the person can even be located because of the information provided but all that is not possible in bitcoin the moment your fund is taken, its lost forever and this has been responsible for series of set back in the fight against crime.

[maianh09]

If you are a user of high-security options, then everything will be safe. For users who don't care about their account security, they run the risk of being hacked and having their money stolen at any time. Use popular wallet platforms to store Bitcoin and turn on all the provided security layers. Everything will always be safe. 2fa is still the most reliable security option for you and me.