Crypto being way better when it comes to tracking - what we always said

[ChiBitCTy]

I don't think that it's so transparent that the elite are scared of it becoming so big it'll eventually expose them but I do believe they fear it's rise to prominence bothers them as they want to control the countries fiat and bitcoin challenges it.

[yazher]

I have a bad feeling about the hacking event which was happened not too long ago where they managed to steal some big amount of money from the people who take their bait on the twitter page of the known personals. I mean this thing could be just some propaganda to make Bitcoin look bad to the people. As you can see they used BTC as their tools to promote their fraudulent acts which involve the BTC way of investing. They used BTC as props to let the people think BTC was not good after all except for those who really knew BTC. they are the one who is exempted with this accusations. We really need to bury this kind of incident because its not sound so good to the BTC market especially in the place where the people are about to invest on BTC for the first time.

[kryptqnick]

https://cointelegraph.com/news/twitter-hack-shows-that-crypto-is-easier-to-investigate-than-fiat-say-industry-law-experts

Time and again there has been a feud between Bitcoins supporter and the Government . Government always said how cryptocurrencies are not a good option since they can be used for illegal purposes and therefore should be banned .

Twitter hack did steal a lot from people but at the same time the fact that the government was able to track down those people do prove that whatever claims they might make about cryptocurrencies being problematic and used for money laundering and other stuff , they are forgetting the fact that it's so transparent that it can destroy the whole corrupted body itself. Maybe this is the reason why they are scared of the Bitcoins.

I do believe through this we learned a few lessons .

- how one should be there extra cautious online
- how Bitcoins needs to be recognized as a good thing by the government not a competition or be negatively associated.

To be honest, I think these arguments are weak. For instance, if people were transferring money via their banking accounts, there would be a good chance of the possibility to reverse the transactions and get the money back because banks usually transfer money in about 24 hours from the time the payment was made, so the money technically remains on one's bank account and via contacting support it's possible not to send it. Secondly, if the scammers gave a bank account number or something like that, would not banks be able to identify the people, like, very fast? Instead, while Bitcoin transaction history is public, many scammers get away with their deeds because it's not that easy to identify the owners of the addresses.

[BrewMaster]

I have a bad feeling about the hacking event which was happened not too long ago where they managed to steal some big amount of money from the people who take their bait on the twitter page of the known personals. I mean this thing could be just some propaganda to make Bitcoin look bad to the people. As you can see they used BTC as their tools to promote their fraudulent acts which involve the BTC way of investing. They used BTC as props to let the people think BTC was not good after all except for those who really knew BTC. they are the one who is exempted with this accusations. We really need to bury this kind of incident because its not sound so good to the BTC market especially in the place where the people are about to invest on BTC for the first time.

FUD like this and even worse than this have always been around. whether this was the FUD itself or unrelated but used as FUD doesn't matter. in the end they keep spreading negative information about bitcoin which is why the adoption has been this little and price is still this low instead of being hundreds of thousands already.
but the good news is that in the long run, the effects of FUD shrinks as people see more bitcoin usage in real life and that is clearing a lot of things up for them.

[20kevin20]

I have a bad feeling about the hacking event which was happened not too long ago where they managed to steal some big amount of money from the people who take their bait on the twitter page of the known personals. I mean this thing could be just some propaganda to make Bitcoin look bad to the people. As you can see they used BTC as their tools to promote their fraudulent acts which involve the BTC way of investing. They used BTC as props to let the people think BTC was not good after all except for those who really knew BTC. they are the one who is exempted with this accusations. We really need to bury this kind of incident because its not sound so good to the BTC market especially in the place where the people are about to invest on BTC for the first time.

Oh come on, don't be silly. Imagine how many fiat thefts and frauds happen every day - do they ever make fiat seem bad? They don't. If there's anything to blame, it's the guys who've hacked.

People took their bait a decade ago when Windows ransomeware requesting USD and impersonating FBI was a thing. If someone decides whether Bitcoin is good or not based solely on events of cybercrimes, that's just a silly way of thinking from start to end tbh.

Possibly part of the reasons. A truely corrupt and "powerful" person will really be very scared of technology like Bitcoin and its very important features. I also think some dislike the technology due to ignorance and misinformation.
If a cryptocurrency/currency is not as transparent as Bitcoin or even more transparent, it can be easily abused. All sort of evil could pass through it without most people knowing. True decentralization makes Proper Transparency possible. This's part of the reasons centralization of crypto must be avoided. People or/and Network/system handling lots of money need to very transparent and accountable.

I don't think anyone is scared of BTC at the moment, honestly. We've reached the point where we're losing ground in front of authorities. The ball is now in their hands and they play well enough to turn BTC for most people into the best surveillance tool.

Less transparent coins like Monero exist. While I haven't really heard much of thefts or crimes done using it, it's slowly getting pushed back while BTC gets "adopted". Wonder why.

[Kez1817]

I have a bad feeling about the hacking event which was happened not too long ago where they managed to steal some big amount of money from the people who take their bait on the twitter page of the known personals. I mean this thing could be just some propaganda to make Bitcoin look bad to the people. As you can see they used BTC as their tools to promote their fraudulent acts which involve the BTC way of investing. They used BTC as props to let the people think BTC was not good after all except for those who really knew BTC. they are the one who is exempted with this accusations. We really need to bury this kind of incident because its not sound so good to the BTC market especially in the place where the people are about to invest on BTC for the first time.

Not the bitcoin was not good but the scammers that scammed people. Bitcoin will never be bad even it will be use in a bad deeds instead the person that used it is a bad. Anyway,there are many scams have happened involving bitcoin but you can see that until now the demand for bitcoin continues to increase which has led to its ever-increasing value.

[AakZaki]

I don't think that it's so transparent that the elite are scared of it becoming so big it'll eventually expose them but I do believe they fear it's rise to prominence bothers them as they want to control the countries fiat and bitcoin challenges it.

The government elites certainly stay away from the transparency provided by blockchain technology. They don't want to be too exposed to what they are doing. actually crypto transaction traces can be removed by using a coin mixer service and this can be an alternative to eliminating traces of transactions made by anyone. But there is no denying that crypto is the technology of the future with good tracking without anyone being able to erase it.

[Finestream]

I don't think that it's so transparent that the elite are scared of it becoming so big it'll eventually expose them but I do believe they fear it's rise to prominence bothers them as they want to control the countries fiat and bitcoin challenges it.

The government elites certainly stay away from the transparency provided by blockchain technology. They don't want to be too exposed to what they are doing. actually crypto transaction traces can be removed by using a coin mixer service and this can be an alternative to eliminating traces of transactions made by anyone.

I don't know but I read somewhere that everything in the blockchain can be trace even if it goes through mixers, it only make transactions difficult to trace but it's not untraceable, that's why I like about blockchain as it cannot be tampered unlike the centralized system, and if this will be implemented, it will be good for humanity as we will see if our government is transparent to us or not.

But there is no denying that crypto is the technology of the future with good tracking without anyone being able to erase it.

Indeed, transactions will remain online forever, that's how sophisticated the blockchain is.

[tbterryboy]

That cryptocurrency is not anonymous or is pseudonymous as they say, is something that has been known for a very long time now, and has been pointed out by so many people a lot of times. I think these hackers and scammers deserves what they are getting, they deserved to be caught since they have chosen to do what’s wrong because they need money, instead of looking for legit means to earn that money, despite that things might be difficult, but they still have to, because that can’t be an excuse.

And OP, you did make a good point there, maybe the government are scared of cryptocurrency because they know for sure that it’s going to tackle corruption. If the world should start making use of cryptocurrency, that means that it will be easy to trace everything that they are doing, and this way they wouldn’t be able to carry out their corruptions, because the public will always see it. I can’t tell about this for sure, but let’s hope that someday we get to find out why they don’t want to adopt cryptocurrency, because if it’s based on money laundering, that’s not an excuse.

[Findingnemo]

Bitcoin transactions can be tracked because the traces can never be erased on blockchin but if they are smart enough they can break the trails of their transaction but its still possible to trace back them if there is enough pressure from the government on the service where hackers used to break its trails.The government never wanted to give complete transparency is one reason other reason is most of the government officials doesn't understand the crypto related things.

[thesmallgod]

Government should consider the way to make bitcoin better and forget about this conspiracy. Everyone know fiat too is been used for illicit things and it is also guilty of laundering. So just because it is used for all this bad thing, shall will now say they should ban fiat. You look for a better approach to reduce the extent of wrongly use of a technology for bad things while you improve the important aspect of the crypto

[AakZaki]

I don't think that it's so transparent that the elite are scared of it becoming so big it'll eventually expose them but I do believe they fear it's rise to prominence bothers them as they want to control the countries fiat and bitcoin challenges it.

The government elites certainly stay away from the transparency provided by blockchain technology. They don't want to be too exposed to what they are doing. actually crypto transaction traces can be removed by using a coin mixer service and this can be an alternative to eliminating traces of transactions made by anyone.

I don't know but I read somewhere that everything in the blockchain can be trace even if it goes through mixers, it only make transactions difficult to trace but it's not untraceable, that's why I like about blockchain as it cannot be tampered unlike the centralized system, and if this will be implemented, it will be good for humanity as we will see if our government is transparent to us or not.

But there is no denying that crypto is the technology of the future with good tracking without anyone being able to erase it.

Indeed, transactions will remain online forever, that's how sophisticated the blockchain is.

There is a lot of controversy about the application of blockchain technology to government. because no matter how small the transaction is, it can be easily traced without being able to delete it. If some elements intend to corrupt it will be easily discovered. This system could be a threat to political elites who are naughty. It still takes time to apply this advanced technology.

[Shasha80]

Actually people who say Bitcoin is widely used for fraud are people who are less knowledgeable, actually if they study Bitcoin properly they
will understand that Bitcoin is transparent and easy to trace. Unlike the fiat which has been used for a long time for fraud and more difficult
to trace. As proof, the twitter hack is easier to track and eventually the perpetrator can be caught immediately.