Post
Topic
Board Bitcoin Discussion
Re: Criminality and Bitcoin
by
abhishek_bittu
on 05/03/2018, 05:55:22 UTC
Bitcoin transactions are psuedonymous, but not actually anonymous. Essentially, your account has a number instead of a name (which, as you probably know, is also how bank accounts work in Switzerland).

There’s not any way to stop a bitcoin transaction (unless everyone in the world with powerful computers teamed up and agreed). If you tried to wire money to a hitman, the bank would tell the government and the government would tell the bank not to hand over the money. With Bitcoin, you could send money to anyone and no one can stop it.

However, if the government figures out which numbers/wallets belong to you, they could still trace the evidence that it was you who sent (or received) the money. Everything can be traced! There are other cryptocurrencies that don’t have a public ledger, however.