The Information that X amount changed hands from wallet to wallet is not on the blockchain. The blockchain records amounts moving from address to address which is a very big difference. But that shows you do not really understand how bitcoin works.
anybody making the statement that a blockchain entry of just an amount makes it completely and entirely trackable and identifiable just shows that they are completely out of touch with reality.
I am not going to hold my breath waiting for you to cite an actual courtcase when the US Government used a blockchain entry for an amount as evidence in a "passed" court case, as you claim.
That bitcointalk thread of someone saying "Hey you know if you give your personal info to an exchange and have them do bitcoin transactions for you then they can track what you are doing" is funny as hell.
At least the light bulb is starting to flicker for some people. But that does not have anything to do with the bitcoin protocol.
There are over 240,000 bitcoin transactions done everyday, many of them according to the original protocol, quickly and anonymously without exchanges involved.
Its just an entry in a database but the net effect is moving bitcoin from one side of the world to the other side instantly.
And really if for some reason someone wants to convert bitcoin to dollars a smart contract is easily set up easily to do it automatically. A certain amount of bitcoin can be transferred from address A to Address B, while at the same time a certain amount if dollars can be transferred from one bank account to another and no government would be able to link the two events at all.
You must not be from the United States you still.have that serf owned by someone mentality.
We had a revolution in this country that established a mindset that the government serves us,it works for us not vice versa. The idea that we have to constantly ask government's permission and report everything we do is not part of that all.
The Information that X amount changed hands from wallet to wallet is not on the blockchain. The blockchain records amounts moving from address to address which is a very big difference. But that shows you do not really understand how bitcoin works.
anybody making the statement that a blockchain entry of just an amount makes it completely and entirely trackable and identifiable just shows that they are completely out of touch with reality. I am not going to hold my breath waiting for you to cite an actual courtcase when the US Government used a blockchain entry for an amount as evidence in a "passed" court case, as you claim.
That bitcointalk thread of someone saying "Hey you know if you give your personal info to an exchange and have them do bitcoin transactions for you then they can track what you are doing" is funny as hell. At least the light bulb is starting to flicker for some people. But that does not have anything to do with the bitcoin protocol.
There are over 240,000 bitcoin transactions done everyday, many of them according to the original protocol, quickly and anonymously without exchanges involved. Its just an entry in a database but the net effect is moving bitcoin from one side of the world to the other side instantly.
And really if for some reason someone wants to convert bitcoin to dollars a smart contract is easily set up easily to do it automatically. A certain amount of bitcoin can be transferred from address A to Address B, while at the same time a certain amount if dollars can be transferred from one bank account to another and no government would be able to link the two events at all.
You must not be from the United States you still.have that serf owned by someone mentality. We had a revolution in this country that established a mindset that the government serves us,it works for us not vice versa. The idea that we have to constantly ask government's permission and report everything we do is not part of that all.