Bitcoin is not anonymous

Transparent digital money such as bitcoin is good for the rulers, because it allows them to control all the people who use it. In this case it doesn't matter what the beginnings of bitcoin were. The most important thing is that it is now official and therefore could be controlled by the banks.

We know where the BTC is

Many people think that bitcoin is anonymous, because it can be transferred immediately, in any way, wherever the Internet is. Unfortunately, the truth is a bit different. We must not confuse the freedom to send money via bitcoin with its anonymity. In fact, each transaction has its own unique number, which everyone can check at any time on a special website. In this way we can check between which digital wallets bitcoin has been sent. I understand your sadness, because you were counting on this way to hide your hard-hitting savings from the tax authorities. Instead, I propose to invest in a good tax advisor.

Who cares about it

Contrary to popular opinions of fans, this feature of bitcoin is its advantage. Thanks to the fact that it is possible to check the way travelled by bitcoins, it makes it an attractive means of payment, which can be accepted by banks and governments. We have to remember that rulers like to know exactly where and how much money you spend. We do not believe in these fairy tales about terrorists, because the truth is much more mundane. Governments want to know what financial operations are carried out by citizens in order to tax them. Sad but true.

We do not know who they belong to

There are several ways to hide transactions with BTC. You can use a VPN that hides your IP address (the unique number of your computer). You can use special digital wallets that mix transactions in such a way that you don’t know where the transfers were from. You can also use a protected secret TOR network. Unfortunately, these methods are difficult for the average user to use. A simpler way is to generate a new BTC address for each transaction and to use different digital wallets. Do you already feel this voltage? Do you have something to hide? Someone is spying on you? I hope that this is not the case, because these ways will not help you to hide BTC if someone seriously starts looking for them.

The owner of BTC you are looking for

If you are guilty and some terrible police or government institution is looking for you, it will surely find you. After all, you had to buy cryptocurrencies  using classic currencies such as USD or EUR. When buying BTC on the stock exchange you have to enter your personal data. Additionally, you transfer classic money from your own bank account to the stock exchange. Do you feel it? Well, that’s it. This data is recorded. Do you pay by credit card for cryptocurrencies? Your data is registered immediately. I think that if you have nothing to hide and you only invest your financial surpluses, there is nothing to worry about. If it’s different and the institution will find you, it’s after you. Tracking bank transfers and browsing transaction numbers in blockchain BTC it will be easy to determine who converts millions of illegal dollars into BTC. So it’s time to work legally 🙂 

Acceptance raises the price

I think it’s better to pay a reasonable tax on your property located in the bitcoins and sail calmly around the Caribbean Islands with your yacht. All the signs in the sky and on the Internet indicate that BTC will finally be officially recognized by the biggest financial institutions. Imagine that in your internet bank there is an account on which you have coded BTC next to your fiat currency accounts. If it happens that bitcoin will be the official means of payment, its value will increase several dozen times. It always happens as the popularity of an asset grows. Of course, the price of BTC will change a lot in the future, because it is exposed to speculative attacks of financial sharks. On the other hand, will it matter to you whether the current bitcoin price is 450,000 USD or 520,000 USD?

Divination from the grounds

Finally, I must warn you that these are my private thoughts and I may be wrong. I try to determine with as much probability as possible what will happen in the future. Before writing this and other articles, I conducted an in-depth analysis of how large financial institutions work. On this basis I try to determine how big players will behave. I believe that there is a good chance that they will behave as usual with a bigger and stronger opponent. This is because he has to accept the fact that the rules have changed and a new and dangerous player has emerged. Banks and rulers can fight and lose to the BTC or simply absorb it, adjust it and make it their tool to supervise people. I think that this will happen. However, there is a chance that the big player will take advantage of the popularity of the cryptocurrency  and create their world currency. It will be controlled by an international monetary fund or another institution of this kind. However, it is certainly worth taking a reasonable investment position in bitcoin.

We are facing very interesting events in the world of digital currencies. Stay vigilant!

 

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Marcin Jagodzinski

Marcin Jagodzinski

Author and originator of the Wealthy Pensioner website, medical practitioner, author of articles on economic issues, enthusiast of modern technologies, fan of Brazilian culture and a man fascinated by blockchain technology.




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