I honestly think that you are right here.People who want to do black market stuff / buy drugs / sell drugs / order crimes they don't care how much it is gonna cost to do it with a mixer so they remain anonymous. They will pay regardless the price.Monero seems like too good to be true.. I think governments gonna hunt it down since the idea behind is being 100% anonymous . I highly doubt that it can be 100% anonymous.. Anything can be tracked on the internet .governments started to regulate bitcoin due to its price (chance to get undeclared profit) and due to such "underground" websites + online scams.
What people didnt knew at that time when they purchased and sold illegal things for bitcoin on such websites is that bitcoin is not 100% anonymous. Experts from government institutions can track transactions if the transaction was not "scrambled" by mixers. Mixers are the websites which generates bitcoin addresses to split a transaction into 4 and then those 4 transactions can be splitted again and in the end those last 4 transaction are sending the money to the last and needed address . Nothing unusual here so far but the problem is those 4+4 generated addresses (website' wallets) are volatile, meaning after 24 hours will be deleted from the mixer's database. Its like someone is showing you a suspended bridge to cross to the other mountain but after you reached the 2nd mountain the bridge is blown away. I don't know exactly how mixers are working because i havent used such websites but i can say that the prices to hide transaction's tracks are very high. Meaning only those who are sending big amounts can use it and for example to send 5 BTC to an address ,the mixer will charge you with 0.5 BTC or maybe more. If sender A will send 5 BTC to receiver B with a normal transaction then i think the fees would be much lower than 0.5 BTC but the sender A and receiver B can be tracked by a legal authority. I don't know exactly how but ive read on internet that it is possible.
One of the biggest mixer on the internet has recently shut down and the admin declared that he did it by his own for the sake (image ) of the bitcoin. I doubt that and i think he was constrained by a legal authority but that's my only opinion.
So mixers are encouraging illegal activities and if such websites will be banned then the bitcoin will have a better image.
In the meantime since bitcoin has been launched, a new crypto currency apperead which is known to be 100% anonymous and its called Monero.
If Monero is 100% anonymous and more criminals would be aware of this cryptocurrency then the monero could go up to $ 2000 per 1 unit before gets banned in most countries. I see a shiny future in the Monero price but i don't think this crypto will last forever. Right now governments are distracted by bitcoin which is increasing in popularity
As I know most of the sites guarantee the anonymous status of Bitcoin transactions...In reality,I don't know if all the transactions are anonymous...Only the site's owner know that fact...We all know what happened to some websites where people used to spend bitcoins for black market. People started buying and selling there only to remain anonymous..
The real question is : How anonymous are the transactions regardless if they are for white market or black market ?
I highly doubt something can be anonymous done online.. I think everything can be tracked but I do agree with you that its more likely you will stay hidden or anonymous if you make transactions with cryptocurrency than the ones with real paper money.Everywhere online you can read that the Bitcoin transactions are anonymous...I think that it will remain that way...Although I think where is about a huge amount of Bitcoin,there the things are different...
Are you sure that china banned bitcoin? I'm not sure about this info that's why I'm asking. Bitcoin is now popular here though I never tried this.Yes,with real money the things are completely different.I think that China banned Bitcoin,because he couldn't control it...It is just an opinion...I am wondering if China is going to ban other cryptocurrency too,that could affect this market?
china didn't banned bitcoin 100% . So it is not illegal like in Ecuador or Bolivia. If you live in China you still can use bitcoin ,you still can trade/exchange it, you still can buy it or sell it, you still can mine it. Crypto currency exchangers and ICOs are banned . If you are chinese you can move to another online exchanger websites .Are you sure that china banned bitcoin? I'm not sure about this info that's why I'm asking. Bitcoin is now popular here though I never tried this.
,because he couldn't control it...
Other cryptocurrencies markets are to small, insignificant , therefore criminal activities or tax evasion is to small,and it not worth it to waste time and resources to start a hunt targeted for altcoins. But remember bitcoin is not banned in china only exchanger websites, owning bitcoin in china is still legal.I am wondering if China is going to ban other cryptocurrency too,that could affect this market?
You can't be 100% anonymous in my opinion.There has to be a way for a certain transaction to be tracked but it is extremely hard if you use mixers.Thats why bitcoin is being exploited too much .. Is bitcoin more anonymous than paper money transactions .. of course it is.As I know most of the sites guarantee the anonymous status of Bitcoin transactions...In reality,I don't know if all the transactions are anonymous...Only the site's owner know that fact...
Yes,I have read on more sites this info.I was too surprised when I read here on the forum.I simply didn't understand why would China ban Bitcoin?I was thinking about this could affect the price of Bitcoin.Are you sure that china banned bitcoin? I'm not sure about this info that's why I'm asking. Bitcoin is now popular here though I never tried this.
Thank you for your post.I have heard about monero,and I have seen on some sites,where I was active,but I never took it seriously.Now,I am thinking what you have wrote in your post.Monero can become a stronger cryptocurrency than Bitcoin...I have to do some research about monero and maybe to start earning some of it...Thanks for the tipI think monero seems to have more future than the bitcoin. If it's 100% anonymous then imagine the things you can do. you can exchange it for some other currency in short bursts. and this can make you some good money. and nobody can track you. and the best part there is a lot of income to be made from the existing monero. so I am thinking that people should be thinking about converting into monero and holding it off till it reached 5K. Thne sell it if possible.
Yes,with real money the things are completely different.I think that China banned Bitcoin,because he couldn't control it...It is just an opinion...I am wondering if China is going to ban other cryptocurrency too,that could affect this market?
I think,that not all the transactions with cryptocurrencies are so anonymous,as we actually think.I have read,that every step,that we make can be tracked down online.I have read this stuff online,though I hope,that some way or somehow that the Bitcoin transactions remain anonymous.I believe Bitcoin can be anonymously transacted without been able to tracked the holder of such address and this addresses changes all the time.There are some sites that just need one inputting Bitcoin address and claiming satoshi,no registering so nobody knows anybody.
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