Reply to post: Re: Oh, the irony

Cryptocurrencies to end in tears, says investor wizard Warren Buffett

Chris 155

Re: Oh, the irony

Bitcoin is "safe" only because the government doesn't (didn't) have a decent enough set of mappings between wallets and real people. This is changing very quickly and may possibly already have changed.

Once the government has that set, working out where money is going and where it has come from is simply a matter of data analysis, the block chain literally gives you the entire history of that coin and every other coin in existence.

Creating extra wallets is completely and utterly pointless and even coin laundering services are only a data problem.

To repeat, if you're using bitcoin to escape the US government you're a fool. It's not anonymous, it just doesn't have real names.

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