Argoo
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#SWGT PRE-SALE IS LIVE
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April 24, 2022, 03:21:05 PM |
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Depressingly as bitcoin adoption increases so will the loss of anonymity. As bitcoin associated organisations/companies/businesses grow they will be more and more prominent. With this rise in recognition comes a rise in regulation as governments don’t want to lose out an any tax income. With government envolvement comes AML and KYC. Unfortunately, I believe it’s inevitable - it’s just a matter of time
Absolutely right. Over time, anonymity in cryptocurrency will fall. Cryptocurrency is decentralized, but the rules for its circulation on the territory of states are established by these states. Anonymity, no doubt, can be maintained until the cryptocurrency enters the exchanges and exchangers. And there are more and more rules that are established by states. If legal entities participate in the cryptocurrency market, then it is even easier for states to control them. |
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Wimex
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April 24, 2022, 04:48:49 PM |
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Can the governments of the world let bitcoin become fully in use in their respective countries without pushing for lesser anonymity and a way for them to monitor the system? Bitcoin is a highly independent currency, it was created with the intention of carrying out transactions quickly and safely, without the need to be approved by third parties, which means that no government or banking authority had dominion over it. Currently, many leaders have noticed the great power and value that this asset has achieved and continues to acquire, so they were forced to accept it or completely exclude it from their country; those who decided to approve the BTC took their own measures to try to maintain some control and of course acquire profits, if they do not take these restrictions they will not obtain a benefit, so their only option is to violate the privacy of their users. |
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wiss19
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April 25, 2022, 04:49:06 PM |
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Does the cryptocurrency community itself want anonymity? These days if we should look into it you would see that most people don’t really care about privacy anymore, all they care is that cryptocurrency should continue to gain more adoption so that the value would increase and make them profit. Most of the people here just care about profit and nothing much.
Assuming that the community were really interested in anonymity, then they wouldn’t really be bothering much about adoption, because much adoption for sure means that the government would like to get Into the circle. These days nobody is now choosing Bitcoin for transaction, they just want it as an investment. I also fear that very soon Bitcoin wouldn’t be anonymous any longer, because of the type of regulation and tactics that the government are trying to start using now.
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Vaculin
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April 25, 2022, 09:56:55 PM |
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The biggest issue limiting most government consider and majorly the reason why bitcoins adoption has been slow is in my opinion the anonymity involved and the inability for government to directly be a party to your transaction.
If there were no such issues, gaining widespread adoption will not even be a topic for discussion as it would have happened already or almost done being adopted I think.
Can the governments of the world let bitcoin become fully in use in their respective countries without pushing for lesser anonymity and a way for them to monitor the system?
No government will approve that they can't get to control or at least regulate it. Everything will have an eye from the government, so most likely its anonymity will be lessen eventually. As from being decentralized going into being centralized, that will always be the case just like those decentralized exchanges that are forced to ask for KYC, otherwise they will not permitted to operate. Same thing with bitcoin, if it aims for its widespread adoption, then the government should always take part on it. |
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YinShuiSiYuan
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April 25, 2022, 10:06:18 PM |
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The biggest issue limiting most government consider and majorly the reason why bitcoins adoption has been slow is in my opinion the anonymity involved and the inability for government to directly be a party to your transaction.
If there were no such issues, gaining widespread adoption will not even be a topic for discussion as it would have happened already or almost done being adopted I think.
Can the governments of the world let bitcoin become fully in use in their respective countries without pushing for lesser anonymity and a way for them to monitor the system?
Of course, anonymity is what governments don't like most. Anonymity makes them lose control, and this is the most important tool for them to hold power. The integration of the world of cryptocurrencies and the one regulated by governments is slowly happening and it will certainly increase. This is simply because companies that want to operate in an official, regulated market must register and from then on are subject to the laws of the country in which they operate. However, some services or companies that will only operate on the cryptocurrency market will remain on the market and these will remain anonymous. In answering your question directly, I see no possibility that any government would agree to make any activity completely anonymous. |
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carlfebz2
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April 25, 2022, 10:41:39 PM |
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The biggest issue limiting most government consider and majorly the reason why bitcoins adoption has been slow is in my opinion the anonymity involved and the inability for government to directly be a party to your transaction.
If there were no such issues, gaining widespread adoption will not even be a topic for discussion as it would have happened already or almost done being adopted I think.
Can the governments of the world let bitcoin become fully in use in their respective countries without pushing for lesser anonymity and a way for them to monitor the system?
No government will approve that they can't get to control or at least regulate it. Everything will have an eye from the government, so most likely its anonymity will be lessen eventually. As from being decentralized going into being centralized, that will always be the case just like those decentralized exchanges that are forced to ask for KYC, otherwise they will not permitted to operate. Same thing with bitcoin, if it aims for its widespread adoption, then the government should always take part on it. We would really be going into that path considering that crypto is really getting some attention now then government would really be targeting platforms or services which are engaged nor get involved with crypto since this is the only way that they could really be able to deal with and not totally able to touch up literally or technically so they wont really be having any options which would be ending up to this. Lets just accept that fate because we are really heading that way and its something that cant be stopped. |
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CaVO32
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April 25, 2022, 10:57:13 PM
Last edit: April 25, 2022, 11:44:37 PM by CaVO32 |
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The biggest issue limiting most government consider and majorly the reason why bitcoins adoption has been slow is in my opinion the anonymity involved and the inability for government to directly be a party to your transaction.
If there were no such issues, gaining widespread adoption will not even be a topic for discussion as it would have happened already or almost done being adopted I think.
Can the governments of the world let bitcoin become fully in use in their respective countries without pushing for lesser anonymity and a way for them to monitor the system?
Of course, anonymity is what governments don't like most. Anonymity makes them lose control, and this is the most important tool for them to hold power. The integration of the world of cryptocurrencies and the one regulated by governments is slowly happening and it will certainly increase. This is simply because companies that want to operate in an official, regulated market must register and from then on are subject to the laws of the country in which they operate. However, some services or companies that will only operate on the cryptocurrency market will remain on the market and these will remain anonymous. In answering your question directly, I see no possibility that any government would agree to make any activity completely anonymous. Sadly, that's where we are heading. If we want more adoption, we need to accept that anonymity will be compromised in some way. Because people want assurance in this market, so the legal businesses want to know their customer themselves as per mandate of their respective government. This will also lessen scammers, like it or not. But if you want to maintain your anonymity as much as possible, then, better be cautious where you submit your KYC docs. |
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YinShuiSiYuan
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April 25, 2022, 11:05:19 PM |
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The biggest issue limiting most government consider and majorly the reason why bitcoins adoption has been slow is in my opinion the anonymity involved and the inability for government to directly be a party to your transaction.
If there were no such issues, gaining widespread adoption will not even be a topic for discussion as it would have happened already or almost done being adopted I think.
Can the governments of the world let bitcoin become fully in use in their respective countries without pushing for lesser anonymity and a way for them to monitor the system?
Of course, anonymity is what governments don't like most. Anonymity makes them lose control, and this is the most important tool for them to hold power. The integration of the world of cryptocurrencies and the one regulated by governments is slowly happening and it will certainly increase. This is simply because companies that want to operate in an official, regulated market must register and from then on are subject to the laws of the country in which they operate. However, some services or companies that will only operate on the cryptocurrency market will remain on the market and these will remain anonymous. In answering your question directly, I see no possibility that any government would agree to make any activity completely anonymous. Sadly, that's where we are heading. If we want more adoption, we need to accept that anonymity will be compromised in some way. Because people want assurance in this market, so the legal businesses want to know their customer themselves. This will also lessen scammers, like it or not. You know, everyone who works in the cryptocurrency market has a choice. He can remain anonymous on it and count on the fact that as the popularity of crypto grows, the number of his clients will increase, or he can connect to the regulated maistream market and the number of his clients will immediately double or triple. Unfortunately, in this case just money talks. |
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Finestream
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April 25, 2022, 11:48:14 PM |
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The biggest issue limiting most government consider and majorly the reason why bitcoins adoption has been slow is in my opinion the anonymity involved and the inability for government to directly be a party to your transaction.
If there were no such issues, gaining widespread adoption will not even be a topic for discussion as it would have happened already or almost done being adopted I think.
Can the governments of the world let bitcoin become fully in use in their respective countries without pushing for lesser anonymity and a way for them to monitor the system?
Bitcoin will really come to its stage where we can use it freely, an alternative to fiat, but for sure it will always be monitored by the government, thus losing the essence of anonymity. Expect that the government will make it centralized in the future, from totally decentralized taking its slowly to become centralized in the future. That is the consequence once it will be free of use and be accepted the government, everything comes highly regulated because its the least they can do knowing they can't totally stop its existence. |
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Fundamentals Of
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April 26, 2022, 01:36:50 AM |
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I don't agree. I think the reason why governments have reservations in approving and fully supporting Bitcoin is not its anonymity. After all Bitcoin is not really that anonymous. It has been proven a number of times that Bitcoin's limited anonymity could be broken. I think the real reason why governments won't completely support Bitcoin's adoption is decentralization. It would be next to impossible for governments to attack or shut down Bitcoin when the time calls for it. That definitely caused a chilling effect to them. That means they're deprived of control. That's unimaginable to them.
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