And one last point for you brain box, if it is so so easy to track these people, then why is there endless darknet marketplaces selling guns, drugs and childporn with bitcoins? Surely, you could just track them or reconstruct every possible transaction and figure out their location with their IP address, right sir?
Who do you think the biggest suppliers of guns and drugs are? You answered your own question!
The thing is, the problem isn't actually with bitcoin itself...rather, it's actually to do with external services being attached to bitcoin accounts.
Bitcoin itself is secure, as there is no way to tell who owns a specific wallet. The problem comes when you add in your ip address to an external withdrawal service and don't funnel transactions properly to hide your identifying information. These are external services that have nothing to do with bitcoin itself. You as an individual are responsible for controlling your third party services. This literally has nothing to do with bitcoin itself though.
Yes, the problem is with BTC itself. Bitcoin uses the internet for transactions and the internet is NOT anonymous. The only people that can stay truly anonymous in the internet have knowledge about computer networks that you would only ever dream of - yes, hackers. Not you, not some random citizen, not some wanna-be hacker who thinks he is anonymous because he is using proxies, not 99.999% of the world. So, it follows that since the internet is not anonymous, as in you need to
identify yourself before you access the network, then BTC is not anonymous as well. It never was, it never was created to be and it never will be. The concept of a private key protecting your public key (cryptography) is old, it's not new, it certainly wasn't invented in 2009. It's also certainly not used only in BTC, it's used in the very moment when you open any secure web page. That concept works to protect your wallet from outsiders, not from the government.
It reduces fraud, makes transactions faster (5-10 min instead of 5-10 days), makes them cheaper by saving banks billions in printing money, storing data & making transfers, makes the currency 100x easier to track than paper money, etc... How is this any benefit for the people LOL? That's the complete opposite, people are just too stupid to see it because they don't understand the technology and the whole game behind BTC. And of course you have religious followers of BTC that can barely use a computer tell you how awesome the underlying technology is and how anonymous when they don't understand shit how computer networks work or the blockchain for that matter.
The JP Morgan guy said Bitcoin was a fraud, and then hours later when price fell, there were heavy Bitcoin purchases from JP Morgan. The guy is going to face legal issues for doing this.
As much as he faced when he did what he did in the 2008 crisis. No, he will not face anything - his "clients" made the purchases, not him. It's all legally shiny in court...
