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Author Topic: Seizing Bitcoins Despite Having your Own Private Key. How this Work?  (Read 286 times)
darkv0rt3x
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May 21, 2023, 12:58:54 PM
 #21

I think we have multiple levels/scenarios for censorship resistance.

In an extreme situation, yes, Bitcoin is 100% censorship resistant because if you refuse to hand your PKs to someone, even under a head pointed gun threat, you may die, but the agressor won't take your Bitcoins (not while you're alive, let alone if they kill you). I'm assuming you have your PKs in your head only. We are talking on the premesis of an extreme scenario. But as been said, you're "agreeing" with the consequences (the event of being killed).

However, if you have your PKs saved somewhere, or if your OpSec was not prepared to such scenarios, then, you may or may not say that Bitcoin is 100% censorship resistant and it may also depend on the acceptance of the consequences you are willing to take!

Then, there is another scenario and here, I also have my own questions. In previous situations where Bitcoins were used for illegal actions, it's said that those Bitcoines were marked and that if those Bitcoins are moved again, thhey can be traced back to whhoever is moving them. This usually happens in hacks from exchanges so that authorities can eventually come to the perpetrator! I have no idea how these Bitcoins "are marked" but it kinda contradicts the censorship resistance that is inherent to Bitcoin!

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May 21, 2023, 08:45:08 PM
 #22

-snip-
Then, there is another scenario and here, I also have my own questions. In previous situations where Bitcoins were used for illegal actions, it's said that those Bitcoines were marked and that if those Bitcoins are moved again, thhey can be traced back to whhoever is moving them. This usually happens in hacks from exchanges so that authorities can eventually come to the perpetrator! I have no idea how these Bitcoins "are marked" but it kinda contradicts the censorship resistance that is inherent to Bitcoin!
For every illegal transaction that occurs and it is worth millions of dollars, the government will mark and continue to monitor the movement of the wallet.
When a wallet has been marked he will not move freely. wherever the last stop of the Bitcoin asset will certainly be known.

But usually, they (the scammers) use Mixer services to censor the transactions they make, but the government certainly has strong authority to be able to find out who is behind the illegal transaction.

Many perpetrators have been arrested related to hacking Bitcoin on the Exchange or other places.
Blockchain provides all data and is transparent, all traces will be recorded, and there is no hiding place for criminal acts.

And no one will be able to seize your Bitcoin if you don't expose your Bitcoin ownership publicly.
It can still be anonymous but it won't fully work.
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