Very interesting. So would someone who made a lot of bitcoin doing something illegal have a hard time spending that money without creating a link between his black market self and white market self?
It’s pretty simple to move illicitly acquired coins from one account to another, until the chain of possession is questionable. I’ve heard of investigators finding patterns as to where black market Bitcoin ends up, but that would only be due to the money launderers laziness.
I’m not by any means an expert. I did some work for a Bitcoin company a couple years ago and was given a whole lot of information.
Isn’t this what things like mixers and tumblers purport to handle for you?
Ok but since the blockchain can evidently be hacked to steal wallets and such, does that mean I can hack the blockchain to put all my drug buys on you, and maybe connect it to a video of you doing drugs about the same time (this sounds so old-fashioned, everyone uses pedophilia for smear jobs these days)
Everyone knows which wallets the bitcoins travelled through, but you don’t necessarily know who own what wallets.
Trouble is, people aren’t very good at keeping their wallets secret.
You can’t really hack the blockchain (not easily anyway) but you can steal someone’s wallet by hacking their computer.
Of course, if you hacked their computer then you might as well just steal their bitcoins and then download a bunch of kiddie porn and send a tip to the cops.
We have a proverb around here: Bargeld lacht.
If you paid cash for your BTC and never used those BTC for anything tied to your identity, you’re fine. I mean, is this really such a crazy concept?
It’s been known for quite a while that you can unmask people, here’s just one random paper I pulled from a conference 5 years ago:
Why would the chain be questionable just because it’s long?
Are BTC like physical money in that if you break it down (ex: change a twenty into four 5s) that you can no longer track the coins?
(Similar to how if you know a bill was stolen from a bank you can alert people to be on the lookout for those serial numbers, but if they break the bill they’re home free)
Read an article about how difficult it is to track mafia money.
bing
Blockchain immediately solves it. We will move to virtual currencies, there can be no doubt.
Criminals will need to be paid in bacon or suchlike.
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