BitFury De-Anonymizes 16% of Bitcoin

The ability to analyze and link Bitcoin transactions is something many governments and regulators hope to do more of moving forward. A lot of officials still think Bitcoin is anonymous, even though that is far from the case. BitFury Group recently demonstrated their latest analysis tool by de-anonymizing several million Bitcoin transactions. It’s an interesting turn of events, even though Bitcoin was never designed to be used in an anonymous capacity whatsoever.

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For those who believed "CryptoCurrencies" was a way to avoid detection and more importantly "TAXES" you were all wrong.

@Sophie
The Tax man always gets his due.

The blockchain model itself makes being anonym - without efforts to scramble transactions - impossible by design . Its more a "feeling" of being anonym Weak spots are as always enter and exit (can be compared with tor) .

agreed. Anything that says it is completely <insert_attribute>, is inviting others to poke holes. Governments heard that crypto was anonymous and de-centralized. So now it's saying, "Here, hold my beer/soju/vodka/tea/coffee"

I dont understand the logic behind the ' tax evaders ' at all. Sooner rather than later they will have to cash out to FIAT, that is exactly when uncle Sam raids their mom's basements if they think they can get away with it

You cannot always have your funds in crypto unless you really believe this is going to overthrow the current monetary system....

Jack@ said:

I dont understand the logic behind the ' tax evaders ' at all

Click to expand...

It works for profits under 10.000$ monthly easily (bitcoin ATM limits) . But beyond that (serious IMing) its almost impossible without hurting the cashflow (makes it harder to re-invest) .

Time to load up on moneros