You don't think they haven't already?
NSA Utah Data Center:
Posted on 05/22/2021 7:32:37 AM PDT by DUMBGRUNT
(IRS-CI) agents arrested the alleged operator behind crypto mixing service Bitcoin Fog. An attached “Statement of Facts” helpfully explains how the feds tracked the operator down, but raises new questions about how exactly they uncovered this information.
...Not only does this action reinforce the idea that crypto exchange users give up much of their privacy when signing up, but it emphasizes the feds might hold onto that data for years.
“While the identity of a Bitcoin address owner is generally anonymous (unless the owner opts to make the information publicly available), law enforcement can often identify the owner of a particular Bitcoin address by analyzing the blockchain,”
Under the Privacy Act of 1974 (h/t Andrew Hinkes), a federal agency cannot provide records to another agency without the permission of any individual mentioned in those records. (It’s unclear whether this happened here.)
(Excerpt) Read more at coindesk.com ...
DAO (decentralized autonomous organization) is a myth to provide an illusion of anonymity.
That said, the blockchain is an elegant thing of beauty, but not a store of value.
If this is not some sort of high-level troll by the US on Russia and China, then technology exists which is beyond the current understanding of the general public.
Whether this technology was developed here on Earth by humans or somewhere else, it exists and is much more sophisticated than any encryption algorithm that blockchain enthusiasts can come up with.
Everything that can be known will be known if the government needs to know it.
If the government goes too far in debt and needs to tax BitCoin then they will break the blockchain.
Seems this would be the key to tracking/finding the actors of ransomewear attacks.
It appears also that the IRS follows these exchange services to find those concealing monies.
You don't think they haven't already?
NSA Utah Data Center:
I would not expect privacy using crypto, only exposure. However, I would still use crypto for economic reasons.
Anyone who thinks cryptos are anonymous are just not understanding the meaning of a public ledger. Nor are they aware that the IRS is watching every on and off ramp.
There is so much ignorance around this topic it is scary.
I cannot wait until next April when all of the Dogecoin morons get their tax bills.
The block chain is public. There is no need to “break it.”
Do you guys have any idea how this works?
The IRS has already served “John Doe” subpoenas on the major exchanges seeking user identities. They have a series of letters ready to send to them and heaven help you if you answered the question wrong on your latest tax return. Talk about your perjury trap!
You can read about this at IRS.gov
I essentially concur.
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