Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

reACTIONary

(5,749 posts)
11. It is more transparent than cash at a garage sale...
Sat Apr 27, 2013, 07:23 PM
Apr 2013

... each transaction is recorded on-line, publicly, and can be viewed at any time, by anyone, anywhere in the world. The transactors are identified by identification numbers. If the "owner" of the identifier is publicly known, for instance, from emails or web sites where the number has been communicated, then it is easy to track every exchange that person has made, from day one.

This sort of discovery can be done through passive investigation. An active approach can be taken where an investigator engages in a few transactions just to gain information. That can then be used to unravel further transactions in the public record.

Currency's currency. (nt) Posteritatis Apr 2013 #1
How will they know? Ruby the Liberal Apr 2013 #2
Exactly. DeSwiss Apr 2013 #3
I am not promoting not paying taxes Ruby the Liberal Apr 2013 #4
It is more transparent than cash at a garage sale... reACTIONary Apr 2013 #11
Okay, so if this is the holy grail of the conspiracy and privacy loons Ruby the Liberal Apr 2013 #16
Conspiracy and privacy loons get a kick... reACTIONary Apr 2013 #22
.... DeSwiss Apr 2013 #25
You got to turn them into cash somehow. joshcryer Apr 2013 #5
I don't even know how you buy them Ruby the Liberal Apr 2013 #6
Yeah, I mean, you have a point, of course. joshcryer Apr 2013 #7
How does the cash get to the seller? Ruby the Liberal Apr 2013 #8
They would cash out using an exchange. joshcryer Apr 2013 #13
Bitcoins are no more anonymous than is ... reACTIONary Apr 2013 #9
Er, seriously? Ruby the Liberal Apr 2013 #10
Yes, seriously... reACTIONary Apr 2013 #12
That sets up an identity and yes you can trace it. joshcryer Apr 2013 #15
Until a G-man shows up with a subpoena. (NT) reACTIONary Apr 2013 #19
It seems easier to buy a money order from the 711 Ruby the Liberal Apr 2013 #18
Yep, agreed. AND... reACTIONary Apr 2013 #21
The wallet hash is completely random. joshcryer Apr 2013 #14
It is only anonomous if you take precautions... reACTIONary Apr 2013 #17
Absolutely true. joshcryer Apr 2013 #23
You are right. It isn't bitcoin... reACTIONary Apr 2013 #24
This is true in the US as well Sgent Apr 2013 #20
prices in bitcoin... are higher or lower than cash quadrature Apr 2013 #26
Latest Discussions»Latest Breaking News»Revenue Canada says BitCo...»Reply #11