Anonymity VS tracing transactions.

[gabbie2010]

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 believed the anonymity feature of bitcoin transactions is most important and that particular feature endears it to more users, in recent times people are more concerned with protecting their identities of course their privacy is paramount to them while trying to do away with a third party eg banks which in most cases demands for identities in the name of KYC while the other aspect is the most unfortunate aspect of transacting bitcoin using anonymity to for illegal transactions which is absolutely a bad precedence and a major concern for more adoption of bitcoin.

[thesmallgod]

I think there is a little missed up here. When we talk about anonymity, it means the transaction can not be traced to a real identity. The fact that a coin is stolen and retrieved that doesn't mean it can not be returned because bitcoin is anonymous. It can be returned because everyone that the coin is stolen from have an address which can be verified through the blockchain. So if you want to send back stolen fund then you send to those addresses that the coin was initially stolen from. Therefore anonymity in crypto is defined within identity context

[1Referee]

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.

As long as you keep buying your coins from a centralized exchange, governments very likely will find out how many coins you bought and roughly still have, and based on that make a calculation as to how much tax you owe them. Every centralized service that you have used throughout the years keeps a record of your purchases, trades, withdrawals, deposits, etc.

Governments are like hyenas, they smell a prey from a far distance and will do everything they can to use all your past crypto activities against you. They know much more about you than you think.

[javadsalehi]

I think there is a little missed up here. When we talk about anonymity, it means the transaction can not be traced to a real identity. The fact that a coin is stolen and retrieved that doesn't mean it can not be returned because bitcoin is anonymous. It can be returned because everyone that the coin is stolen from have an address which can be verified through the blockchain. So if you want to send back stolen fund then you send to those addresses that the coin was initially stolen from. Therefore anonymity in crypto is defined within identity context

A person who steal some bitcoins, won't return those bitcoins to the real owner unless the identity is revealed and he/she is forced to return the bitcoins.
I know returning if bitcoins to the real owner is theoretically possible. I meant, if transactions are anonymous returning of bitcoins is impossible. Because a person who steal the bitcoins, won't return them without any force.

[rodel caling]

what's the difference between bitcoin and fiat?
[/quote]


The difference of the bitcoin between fiat is.
Firstly bitcoin is digital crypto currency(digital money) stored at the smart or online wallet and can use it anywhere sending funds to the loves.
But holding of bitcoin is very risky because bitcoin is volatile currency they move without controling by any body they moves itself depends on the demands in the market unlike fiat is control by the government their value in the market depends on theneed of the country to be printed. Unlike bitcoin need to mining.

[FlightyPouch]

The difference of the bitcoin between fiat is.
Firstly bitcoin is digital crypto currency(digital money) stored at the smart or online wallet and can use it anywhere sending funds to the loves.
But holding of bitcoin is very risky because bitcoin is volatile currency they move without controling by any body they moves itself depends on the demands in the market unlike fiat is control by the government their value in the market depends on theneed of the country to be printed. Unlike bitcoin need to mining.

Obviously, the quicky way to differentiate bitcoin from fiat is that fiat is backed up and controlled by the government while bitcoin on the other hand is not backed up or controlled by any government, it is decentralized. Government will be able to track your fiat transactions while in bitcoin, they will be having a hard time doing that.

[Ausgewielt]

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 we compare anonimity of bitcoin and fiat then it is certainly different. In term of the concept of transactions of both currency, anonimity of bitcoin looks better because botcoin transaction do not use third parties (bank and etc.) which means that we do not need to give our identities to third party and do not need to go through other complicated and long-winded process. But on the other hand blockchain which is a technology that empower bitcoin is a large database chain that records all bitcoin transaction. Law enforcement can still carry out their duties to track people even though the currency that be used by those people is bitcoin.

[jostorres]

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.

Exactly. But, unfortunately, every year, the cryptocurrency is becoming less anonymous

The main reason why most of us embrace crypto technology is because of the anonymity of it, but then we have already lost it because many of our transactions can now be opened to the government through the many KYC that we have submitted into several exchanges and projects that has forced us to do it.

I will say that we have already been stripped off of the anonymity and there is no point holding on to it right now, so I would rather go for traced transaction and be in a system where it would be peaceful for me to transact without thinking that someone will come and still my money away, at least if our transaction is able to be traced using some information’s with people. Then scammers will no longer have any single chance.

[Ozero]

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?

The issue of anonymity in cryptocurrency will be under the close attention of states and the public for a long time to come. This is a very sensitive issue and it requires a balanced decision. Here you need to work out the average optimal solution. Anonymity will in any case remain in transactions between people. The states here simply cannot do anything. In other cases, in my opinion, anonymity should be with small amounts of transactions, and transactions with large amounts should have a different degree of deprivation of this anonymity. A good decision was made in this regard in the FATF recommendations of June 21 this year. They propose that persons sending transactions in excess of one thousand euros undergo KYC checks, and transactions in the amount of over 15,000 euros are reported to the relevant state authorities for control by the exchange. States must introduce such rules throughout the year in their domestic law.

[Wexnident]

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 would naturally choose anonymity. However, because of constant improvement, anonymity wont really cover all the tracks of trading and one way or another, people could find transactions and can be tracked to the said owners. In the end, innovation of the current system would someway or another lead to loss of the anonymity of exchanges.

Now the difference between bitcoin and fiat.
Bitcoin is a coin made by computers and codes and is a digital way of exchange. Fiat on the other hand is controlled and produced by the government and is a physical way of exchange. Bitcoin is very volatile and changes depending on the amount of coins in the market while fiat changes based on the supply and demand of the world.

[Kyraishi]

Anoymity any day - people who get hacked/bitcoins stolen off them can easily avoid this by being smarter with their money, you don't need to be a genius to not send money to scammers, most of it happens when people are way to greedy.

Even if your funds are stolen in fiat (which I'm assuming is your comparision for this thread, it'll still be pretty hard to get the money back, scammers usually are pretty smart with this and won't allow transactions to get reverted).

[agentx44]

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?

The anonymity is way better than other things such as getting back the bitcoin stolen from the real owner. You should take great precaution on your transactions, if bitcoin does not grant us anonymity, then plenty of the users will be in trouble for sure. It is used in some illegal activities and I think that is inevitable but for some who just use it as an investment, it is better if we stay unharmed.

[Shenzou]

For me the whole reason why i like bitcoin is because of the anonymity, to be able to do whatever you want with your money without having the government  set you how much and how you spend it or some bank blocking your account for no reason is what make bitcoin so good and it is why it was met by a lot of support from a lot of people, and if you think that tracing you transaction is a good thing than why are you using bitcoin while you can just use paypal or regular cc.

[blckhawk]

All things comes with risks or drawbacks. It's true that having anonimity would also mean easier grounds for illegal activities to happen. One must be sacrificed to gain another.

I would choose anonimity over tracing transactions because that's the main idea that started Bitcoin and other cryptocurrencies, to have a transparent, anonymous way of handling transactions. That's also what makes cryptocurrency unique to fiat. There is no governing bodies, no regulations, no restrictions and manipulation.

[XCANA]

The problem shouldn't be that; bitcoin cannot be trace and its been used by criminally minded individuals to carryout their hilarious act. Those who have these opinion against bitcoin forget that, even the fiats are the most used  currency when it come to criminality. The anonymity provided by bitcoin to it holders causes the government a sleepless night and they tend to frustrate the entire process with their regulations.

[aces777]

It is funny how so many people their to highlight that the anonymity of bitcoin transactions promotes terrorism and criminality when these have been ongoing even before the existence of cryptocurrencies. The government just wants to be in control of these transactions, and the fact that they can not regulate crypto transactions gets them on their feet, otherwise, I do not see why this is a major issue.

[jarhed]

It is funny how so many people their to highlight that the anonymity of bitcoin transactions promotes terrorism and criminality when these have been ongoing even before the existence of cryptocurrencies. The government just wants to be in control of these transactions, and the fact that they can not regulate crypto transactions gets them on their feet, otherwise, I do not see why this is a major issue.

There is no anonymity in cryptocurrencies, all this is an illusion for most users in this market. No more than 2% of all transactions have an anonymous structure. Most of these transactions are cryptocurrency theft.

[teosanru]

I think anonymity in the lives of human being is a myth altogether. We don't have any anonymity in our lives and we won't even have it anywhere in the near future. Since forever governments are tracing us maybe for the good. I mean I am not against Bitcoin but think of it practically if there is a big nuclear blast deal which takes place in Bitcoin as a means of payment. Such a thing  can be untraceable for authorities therefore if over looked can be executed which poses a serious threat to national security. I think if there is complete anonymity every psycho fanatic would be doing whatever he likes with the world which is not only weird but also too dangerous.

[kayvie]

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?

The anonymity is way better than other things such as getting back the bitcoin stolen from the real owner. You should take great precaution on your transactions, if bitcoin does not grant us anonymity, then plenty of the users will be in trouble for sure. It is used in some illegal activities and I think that is inevitable but for some who just use it as an investment, it is better if we stay unharmed.

Anonymity in the sense of cryptocurrency gives us protection and let us to do things at our own will such as gambling, including this is the illegal activities.
Most cases here is hacking or scam, which is the risk of being anonymous, tracking them will be impossible.
Being responsible will avoid this risk which will leave us only the anonymity of crypto.

[minersday]

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.

People always make allegations and accusations regarding the use of Bitcoin for illegal transactions with no evidence to back them. Bitcoin is not all that anonymous like people really think it is. Once all the transactions made on the blockchain network can be traced,  it is not anonymous. Users on the bitcoin network do not really have privacy.