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/biz/ - Business & Finance

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21030999 No.21030999 [Reply] [Original]

"Bitcoin can be easily traced"

Really? How exactly would someone tie my bitcoin address to my personal identity? Assume that I've never transacted with anyone who knows my true identity.

>> No.21031046

>>21030999
holy shit! really?

>> No.21031072

because at some point you had to buy or sell the BTC with real money, which means you had to link your bank account/credit card/etc to that exchange, so that exchange has your information

>> No.21031080

>>21030999
Wasabi with a VPN/Tor should be enough to throw off even the brightest of glow niggers.

>> No.21031106

>>21031072
but after I send the Bitcoin from the on ramp (eg. Coinbase) there's no way to prove the wallet I sent it to is one that I control

>> No.21031112

>>21030999
>Assume that I've never transacted with anyone who knows my true identity.

Bitcoin is psuedo-anonymous. The best way they have of finding you is guessing. They can still look at everything you've purchased, and every wallet you've ever sent something to. If lambo money goes missing from your wallet, and you buy a lambo the next day...

>> No.21031177

>>21031072
>withdraw cash
>insert at btc machine

>> No.21031186

>>21031106
>prove
thieves don't care. we're all getting our doors kicked down by gangsters/junkies when our details are leaked - nobody told you?

>> No.21031191

>>21030999
>My bitcoin address
>Only having one bitcoin address.
ngmi.

>> No.21031225

>>21031191
I was just using the "worst case scenario", obviously having many wallets/addresses would make it even harder to trace

>> No.21031236

If you committed a crime and they have "probable cause", they can confiscate your computer and search your house as well, just on the "hunch" that Anon has the Bitcorns

This is the mai usecase for Monero

>> No.21031263

>>21030999
The only way you could be totally anonymous is if you were given or airdropped tokens that appreciated in value to a private wallet, then used that stack to trade around. Even then you would have had to only bought things using crypto

>> No.21031352

>>21031263
I actually have an ethereum wallet like this that I'm keeping "clean" in case that ever becomes important

>> No.21031354

You can break the chain of evidence by converting to a privacycoin like XMR and then back again. Of course if you do this in a very large amount, it'll still be easy to deduce which BTC-to-XMR transaction aligns with the XMR-to-BTC transaction. But if you split up the transactions it should be essentially foolproof AFAIK

Alternatively, couldn't you just move your coins on and off multiple different exchanges back to back? It'd be similar to TOR where you'd need every single exchange to work together to backtrace the chain of transactions back to where you first purchased the BTC with KYC.

>> No.21031654

>>21031354
What if you had 2 accounts on one exchange and immediately bought your own sell orders haha

>> No.21031738

>>21031177
>bitcoin machine machine

>> No.21031758
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21031758

>>21031738
>wat

>> No.21031793

>>21031106
its fine til you want to cash out. or spend it on real life items especially over 10k.

>> No.21031942

>>21031654
lol

>> No.21031978

>>21031186
>we're all getting our doors kicked down by gangsters/junkies when our deta-
BANGBANGBANGBANG

>> No.21032263

>>21030999
you have to wrap it with monero

>> No.21032329

>>21030999
it's like your IP address. nobody can prove you're the one using it, but you're the one likely using it and that's good enough for the feds to lock you up

>> No.21032466

>>21030999
if you understand public/private keys then this concept is not complicated

>> No.21032836

>>21030999
because internet
even if you bought with cash unless you constantly change your ip a 'questionable' transaction can be traced to the node that signed on it, it gets confiscated by feds and they pull an ip list and find out which wallet the transaction came from

they then have an ip attached to the wallet and track all traffic coming from that ip until some identifying information shows up from that ip (login credentials, online shopping, email, etc.)

>> No.21033346

>>21031106
with new legislation coming you will have to know who you're sending funds to.

>> No.21033450
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21033450

>>21030999
>>21031106
This is the kind of retards institutions are trading against...

>> No.21033498

>>21033450
do you really have no refutation to my simple point?

>> No.21033543

>>21033450
here's my bitcoin address, dox me:

bc1qsh53lp5d5n86mmuczfpy09zeaqc0v4z5gtefu9

>> No.21033697

>>21031738
>Haha I totally got this idiot with his typo. This will go great on reddit. wait...

>> No.21033724

>>21031978
silly anon, you can't shoot the fed.

>> No.21033764

>>21030999
If you use a bank at all it's all traceable.. They see it went to this exchange, then this wallet, then they know what you're wallet is and can see EVERYTHING. I mean who thought this shit was anonymous ever.

>> No.21033796

https://www.youtube.com/watch?v=AJGLhaUV8QM

this is all you need to know

>> No.21033803

>>21030999
You are safe unless you looked up your bitcoin address on a blockchain explorer... you didn’t actually tie your IP to your bitcoin address did you anon??

>> No.21033829

>>21031072
You can buy straight from another person, no? Give cash face to face to a stranger, watch stranger send btc to your address. Requires more work and some blind trust, but doable regardless.

>> No.21033841

>>21030999
>sell btc to individual (slight discount)
>transaction seen as transfer (tax write off)
enjoy buying shit with your cash

>> No.21033875

>>21033764
This is what bugs me with all the privacy coins. How exactly do they work? Haven't bothered to DMOR because haven't bought any, but the thought springs to mind every now and then.

>> No.21033877

>>21033829
do it in a public place. bring protection/a buddy

>> No.21033966

>>21033877
Still requires some trust, depending on the amount being bought, but good point.

>> No.21034824

>>21031758
>>21033697
Just memeing