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Cryptocurrencies aren't anonymous anymore

Discussion in 'CryptoCurrency' started by Doozle22, Jan 30, 2018.

  1. Doozle22

    Doozle22 Junior Member

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    It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

    Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

    South Korea today, however, is increasing regulation on all cryptocurrency exchanges.

    South Korean laws passed this morning are now only letting South Korean exchanges accept users if the user has real-name bank accounts connected.

    Regulations like this are the first of many soon to come that will try to take anonymity from cryptocurrency.

    The South Korean government reasoning was to prevent money laundering and other illegal activities.

    Mod edit: link removed.
     
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    Last edited by a moderator: Jan 30, 2018
  2. eelajt

    eelajt Jr. VIP Jr. VIP

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    Bitcoin has never been more than pseudo-anonymous. On the other hand, people will ALWAYS find a way to circumvent whatever actions nations take trying to control any form of technology.
     
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  3. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    I can buy a bag of coke more anonymously with a 50 note.
     
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  4. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP

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    Well that's a really tiny bag afterall ain't it?
     
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  5. Blain Cooper

    Blain Cooper Jr. VIP Jr. VIP

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    No credit card? No receipt?? You live dangerously sir.
     
  6. cnick79

    cnick79 Senior Member

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    The regulation on crypto currencies needs to be on these exchanges, coins, and ICOs more so than anonymous transactions. I understand governments want to be able to stop money laundering AND to tax it, but how about cleaning out these garbage coins?
     
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  7. Xisparr

    Xisparr Newbie

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    There's many ways of hiding your ass.

    Just look it up. (Perhaps not over youtube). Use dtube or something to source something illicit.
     
  8. br4sco

    br4sco Regular Member

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    For sure you can - that is also why cash is becoming more and more replaced by digital currency from many governments. They don't want you to hold untraceable value you can use.

    The blockchain never was anonymous - only the fact that you could buy in without any identification made it semi-anonymous. The big benefit of the Blockchain is that every transaction is traceable through the Blockchain itself... That's why Banks are eager to join in on the party. I have been to regulatory meetings in Switzerland. Regulators propagate Bitcoin and Ether as the Future, due to its fully transparent transactions... bye bye money laundering if set up correctly.
     
  9. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    But in reality it's not though is it? I mean we can pretend it's replacing fiat if we want, but in reality it isn't, no matter how hard we pretend.

    In fact, it is merely used as a gimmick, in very few and far between places.
     
  10. Alexpaberla

    Alexpaberla Junior Member

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    And ... Who say Bitcoin is anonymous ? you can track the transaction but no one know who is in back of the transaction ( NO ID NO PHOTO NO IP ) also ... bitcoin is used for drugs, guns , and another ilegal stuff ( Black Market accept bitcoin as payment )

    And yes , Monero is very good for anonymous but there are many crypto like that offer 100% anonymous like Verge who use Fake ip for transactions
    Top anonymous cryptocurrency
    -Verge
    -Monero
     
  11. br4sco

    br4sco Regular Member

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    Well, what I meant was book money (digital) but in FIAT currency. That's where they have a grip on it. Just look at Cyprus what they did a few years back. They seized all assets from private individuals booked on banks above 100k. If you where the poor SOB that saved all your money they royally gave it up your ass. Hard Cash on hand is what they don't like, even if its FIAT. Enter crypto - they are even more afraid of this, but in reality, it's probably the worst technology to have within a digital currency. Every transaction recorded on the Blockchain itself and traceable. The only fact that its unregulated as of now provides the grounds for the modern day gold rush. I don't buy it though. Too many shady brokers and marketplaces, wallets that can get lost etc. I am not touching Crypto with a flagpole, even though I have a good friend who claims he made over half a mill with Ethers. Making book profits is not hard. But realizing the gains and cashing out seems difficult. Coinbase only allows for certain retraction amounts per week. Funny, I can make millions in FIAT but accessing the money will be near impossible with low retraction possibilities. It's all a sham...
     
  12. blogzandstuff

    blogzandstuff Elite Member

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    even better when it's a fake £50 note, you'd get it for nothing then
     
  13. akacash

    akacash Jr. VIP Jr. VIP

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    You should change the title to this thread, it has nothing to do with crypto currencies being anonymous at all. You're talking about regulations on the exchanges, not the coins, and some regulations on them, as much as the pure crypto head hates the, is what's actually needed if people ever want the real money to start flowing in.
     
  14. Blain Cooper

    Blain Cooper Jr. VIP Jr. VIP

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    I once bought a bag of baking powder with a fake £50. Nothing for nothing.

    Edit: I forgot I baked a cake, and I ate it too.
     
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  15. blogzandstuff

    blogzandstuff Elite Member

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    I was offered fake £50 for £10 each and £1 for 1p each, I declined the offer, prison is not for me lol!
     
  16. Snoop Dawg

    Snoop Dawg BANNED BANNED

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    So unless you're korean it is still anonymous.

    thanks
     
  17. Adextrem

    Adextrem Registered Member

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    Nothing changed buddy, it has always been like this
     
  18. I-marketer

    I-marketer Power Member

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    I laughed today reading how real estate companies sell houses in Miami for btc.
    Buyers are mostly foreigners from Venezuela, Colombia ... I need to move and sell bags of coke as well.
     
  19. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    I liked the way when Bicoin was 20k people were selling their houses for bitcoin. Now they are sat on less than half their house's value. That's what happens when you jump on the latest gimmick.
     
  20. tarapara

    tarapara Junior Member

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    soon people will sell house for ethereum too.