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[AudraMiller]

And the one thing that drew a lot of people to cryptocurrency is the fact that it cannot be traced and whilst this is true to a large extent this can also be a disadvantage. If cryptocurrency had to be implemented within a country under a government structure then it is likely that the fact that cryptocurrency is unable to get traced could result in more corruption at the higher levels within government. Do you think that this is a concern when it comes to cryptocurrency adoption? This however is not true of all countries and it is just a general question.

 

[Enackoma]

Some countries do not recognize cryptocurrency

And the one thing that drew a lot of people to cryptocurrency is the fact that it cannot be traced and whilst this is true to a large extent this can also be a disadvantage. If cryptocurrency had to be implemented within a country under a government structure then it is likely that the fact that cryptocurrency is unable to get traced could result in more corruption at the higher levels within government. Do you think that this is a concern when it comes to cryptocurrency adoption? This however is not true of all countries and it is just a general question.

Some countries do not recognize cryptocurrency

 

[Wisdom01]

Crypto currency won't increase corruption rate and level, because even with the normal flat currency , corruption have been in existence from the beginning

 

[Niftyicon]

Corruption takes place with or without Cryptocurrencies. However, I think that it may be more difficult to curb it where Crypto is involved..

 

[anil02]

And the one thing that drew a lot of people to cryptocurrency is the fact that it cannot be traced and whilst this is true to a large extent this can also be a disadvantage. If cryptocurrency had to be implemented within a country under a government structure then it is likely that the fact that cryptocurrency is unable to get traced could result in more corruption at the higher levels within government. Do you think that this is a concern when it comes to cryptocurrency adoption? This however is not true of all countries and it is just a general question.

It is right that hiding money in crypto is easy than other currencies. Like it paying bribe is also easy in crypto. India is known as corrupt most countries , so it is in benefit of corrupt peoples

 

[Wisdom01]

Corruption takes place with or without Cryptocurrencies. However, I think that it may be more difficult to curb it where Crypto is involved..

I think now countries are setting up organizations to monitor crypto transaction involving high volume ,so they could be able to stop money laundering

 

[Wisdom01]

Scammers and embezzlers may take advantage of the anonymousity of cryptocurrency to store funds which may be untraceable

In some countries they could be tracked ,because of the technology involved and in use could help track crypto currency transaction , remember the twitter bitcoin scam

 

[Razor1911]

In some countries they could be tracked ,because of the technology involved and in use could help track crypto currency transaction , remember the twitter bitcoin scam

But how can anyone track. Bitcoin transaction remain anonymous. Even when I created the wallet in my app, it didn't ask for my data or identify verification. I wonder on what basis anyone could find my identify.

 

[Niftyicon]

I think now countries are setting up organizations to monitor crypto transaction involving high volume ,so they could be able to stop money laundering

That is one of the good if not the main reason I wouldn't be against intervention of government in the crypto space with the necessary regulations in place. How thorough it would be still remains to be seen.

 

[Razor1911]

I think now countries are setting up organizations to monitor crypto transaction involving high volume ,so they could be able to stop money laundering

That's a good step. In place of banning thr crypto currency, it is better that govt should try to find a better alternative. Setting up a regulatory body which will monitor the cash in flow and outflow in the bitcoin will certainly do the work.

 

[Wisdom01]

That's a good step. In place of banning thr crypto currency, it is better that govt should try to find a better alternative. Setting up a regulatory body which will monitor the cash in flow and outflow in the bitcoin will certainly do the work.

Its really a good initial when they set up body to check mate the crime or fraud that might want to take place through bitcoin operation

 

[anil02]

I think now countries are setting up organizations to monitor crypto transaction involving high volume ,so they could be able to stop money laundering

Later or sooner most of countries will do it. it is notpossible to stop dealing in crypto so it is better for countries to regulate it an earn with imposing taxes of crypto transactions .

 

[Wisdom01]

But how can anyone track. Bitcoin transaction remain anonymous. Even when I created the wallet in my app, it didn't ask for my data or identify verification. I wonder on what basis anyone could find my identify.

They could find your identity through your ip adress even if you dobt register with your id card and many other required infornation by them i think

 

[Razor1911]

They could find your identity through your ip adress even if you dobt register with your id card and many other required infornation by them i think

I installed the atomic wallet. Ans it did not asked me for any proof. Just simple login with email and 2Fa and I ready to go. Though I think they have my IP adrees with which they can track me down.

 

[AudraMiller]

They could find your identity through your ip adress even if you dobt register with your id card and many other required infornation by them i think

I agree with you here. There are many websites that prevent you from signing up in any way if you are using a vpn and as a result your correct ip address is shown and this can be used to trace back to your location and this can be a good way to regulate and ensure crypto is used in accordance with the law.

 

[Razor1911]

I agree with you here. There are many websites that prevent you from signing up in any way if you are using a vpn and as a result your correct ip address is shown and this can be used to trace back to your location and this can be a good way to regulate and ensure crypto is used in accordance with the law.

Using VPN is not allowee if you want to create a wallet. I am using both atomic and trust wallet and both had written in their terms and conditions that any kind of use of proxies or VPN is strictly not allowed

 

[AudraMiller]

Using VPN is not allowee if you want to create a wallet. I am using both atomic and trust wallet and both had written in their terms and conditions that any kind of use of proxies or VPN is strictly not allowed

This is a very good thing to strictly prohibit the use of VPN because this can be the start of illegal operations. I think that many of the cryptocurrency sites, such as faucets and even forums such as this one have the same rules as well when it comes to VPNs.

 

[Wisdom01]

I installed the atomic wallet. Ans it did not asked me for any proof. Just simple login with email and 2Fa and I ready to go. Though I think they have my IP adrees with which they can track me down.

They dont need those logins and others ,your ip address is already enough for them to track you ,so you cant manipulate the system like that it can still be tracked