The Crypto Conundrum

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JonOlson
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Re: The Crypto Conundrum

Post by JonOlson » Sat Dec 02, 2017 11:40 pm

That's a good point. And heaven knows, it takes a lot of energy to run this miner LOLOL
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rockyjohnson
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Re: The Crypto Conundrum

Post by rockyjohnson » Wed Dec 06, 2017 11:30 am

Bitcoins are here to stay, but don't think it will become too mainstream or will not be allowed to become mainstream by all the Governments. How will any Govt allow the citizens to trade money without them even knowing about it, and no tracing of transactions?
Many hackers have started accepting payments in bitcoins only because of non tracing off transactions, like a recent worldwide hack.
If bitcoins start to gain steam and become more popular, Govt's will struck it down.

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Re: The Crypto Conundrum

Post by kurosivo » Wed Dec 06, 2017 1:00 pm

rockyjohnson wrote:
Wed Dec 06, 2017 11:30 am
...

How will any Govt allow the citizens to trade money without them even knowing about it, and no tracing of transactions?
...
If that is really the case, the real question is then how are the governments going to restrict something they cannot trace?

But my opinion is that Bitcoin nowadays is more or less traceable.
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Re: The Crypto Conundrum

Post by rockyjohnson » Wed Dec 06, 2017 2:01 pm

Sir, I politely disagree.
If tracing was possible, then in the recent 'Wannacry' hacking of systems all over the world asking for $300 ransom in bitcoins, was any of the hackers tracked down who was paid money in bitcoins?
Most of the Govt's have no clue how to deal with them, as the value is limited they are not serious, when the amounts are in substantial numbers it would be blocked or made illegal to trade in. Govt's can pass any law and can make anything illegal anytime.
kurosivo wrote:
Wed Dec 06, 2017 1:00 pm
rockyjohnson wrote:
Wed Dec 06, 2017 11:30 am
...

How will any Govt allow the citizens to trade money without them even knowing about it, and no tracing of transactions?
...
If that is really the case, the real question is then how are the governments going to restrict something they cannot trace?

But my opinion is that Bitcoin nowadays is more or less traceable.

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kurosivo
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Re: The Crypto Conundrum

Post by kurosivo » Wed Dec 06, 2017 3:19 pm

rockyjohnson wrote:
Wed Dec 06, 2017 2:01 pm
Sir, I politely disagree.
If tracing was possible, then in the recent 'Wannacry' hacking of systems all over the world asking for $300 ransom in bitcoins, was any of the hackers tracked down who was paid money in bitcoins?
Most of the Govt's have no clue how to deal with them, as the value is limited they are not serious, when the amounts are in substantial numbers it would be blocked or made illegal to trade in. Govt's can pass any law and can make anything illegal anytime.
kurosivo wrote:
Wed Dec 06, 2017 1:00 pm
rockyjohnson wrote:
Wed Dec 06, 2017 11:30 am
...

How will any Govt allow the citizens to trade money without them even knowing about it, and no tracing of transactions?
...
If that is really the case, the real question is then how are the governments going to restrict something they cannot trace?

But my opinion is that Bitcoin nowadays is more or less traceable.
Please call me Christos. :)

I just tried to point out that you cannot restrict something you cannot trace...it was more of a wise- guy, pun type of comment! :)

..about the question, if Bitcoin transactions are traceable, I am certainly not an expert, but from the little I've read, Bitcoin is not considered the most anonymous cryptocurrency in existence. Can somebody hide some money with it? I am sure that for the knowing there are ways..as there are ways to hide dollars, euros etc. Tha's just my 2 cents! :)

EDITED TO ADD THIS RELEVANT LINK

http://trackr.leadsleap.com/Is-Bitcoin-Anonymous
Christos Apostolides

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JonOlson
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Re: The Crypto Conundrum

Post by JonOlson » Wed Dec 06, 2017 7:29 pm

Yeah there are plenty of alt coins that talk about being 100% private and anonymous

They seem to be doing well during the bull rush too LOL
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