Re:Bitcoin surpasses $50K as major companies jump into crypto
by trident5000 on Tuesday February 16, 2021 @07:05PM
(#26160656)
"though that'll probably land you on some FBI watch list." I have no idea why you would think this.
Re:Bitcoin surpasses $50K as major companies jump into crypto
by Imnimo on Tuesday February 16, 2021 @07:45PM
(#26161076)
In a way, putting your transactions on a public ledger is like voluntarily adding yourself to a watch list. The government (and everyone else) can then come and inspect your financial history at their leisure in the future.
Re:Bitcoin surpasses $50K as major companies jump into crypto
by trident5000 on Tuesday February 16, 2021 @07:57PM
(#26161191)
Its a settlement layer. Who cares. And you think they already cant access your transactions through the traditional system? Thats how they catch criminals every year.
Re:Bitcoin surpasses $50K as major companies jump into crypto
by Imnimo on Tuesday February 16, 2021 @08:18PM
(#26161365)
Accessing transactions in the traditional system ostensibly requires a subpoena, and is limited by jurisdiction.
Re:Bitcoin surpasses $50K as major companies jump into crypto
by trident5000 on Tuesday February 16, 2021 @08:55PM
(#26161653)
You would need the same to identify a fiat gateway with btc. You cant link a person to an account without that.
Re:Bitcoin surpasses $50K as major companies jump into crypto
by Imnimo on Tuesday February 16, 2021 @09:01PM
(#26161698)
I'm skeptical that you couldn't. Anonymous data is often not quite as anonymous as we think, and identities can be deanonymized by cross-referencing with other public info. If even one of your on-chain transactions leaks identity, your entire history with that wallet is compromised.
Re:Bitcoin surpasses $50K as major companies jump into crypto
by ralusek on Tuesday February 16, 2021 @10:44PM
(#26162388)
It's just a public/private key generated. How would they ever find out who you are?
Re:Bitcoin surpasses $50K as major companies jump into crypto
by selestify on Wednesday February 17, 2021 @12:41AM
(#26163119)
Many/most people go through online exchanges to buy their bitcoin instead of meeting with people locally. These online exchanges perform KYC and will readily provide the government with which addresses you sent your bitcoin to.
Even if the government didn't have that, they might still be able to deanonymize you via your transactions. Pseudonymity is not anonymity. If a single merchant identifies you as the buyer in a transaction, the government might be able to figure out the rest of your transactions in that chain.
Re:Bitcoin surpasses $50K as major companies jump into crypto
by tuesdayrain on Tuesday February 16, 2021 @08:35PM
(#26161521)
It's amusing to see people on "Hacker" News afraid of the spooky tech that is Bitcoin :)
Re:Bitcoin surpasses $50K as major companies jump into crypto
by ineedasername on Tuesday February 16, 2021 @10:57PM
(#26162471)
You are confusing skepticism with fear.
Re:Bitcoin surpasses $50K as major companies jump into crypto
by tuesdayrain on Sunday February 21, 2021 @03:41PM
(#26216960)
Thinking that merely using BTC is "like voluntarily adding yourself to a watch list" sounds more like fear than reasonable skepticism to me.
If you buy an option for a barrel of oil, Robinhood doesn't even deliver it to you. Same for wheat and gold. What a scam!
In all seriousness, if you want to speculate on the price of Bitcoin, Robinhood may be better than using some of these more sketchy exchanges that offer decent amounts of leverage.
If you want to actually purchase Bitcoin, there's regulated exchanges where you can do so, though that'll probably land you on some FBI watch list.