I.R.S. Bitcoin Tracing Tools; Track & Identify Transactions via Chainalysis

in #cryptocurrency4 years ago (edited)

As we mentioned in yesterdays video, Bitcoin is not 100% anonymous; is only pseudo-anonymous, and while some of your privacy may be leaking online, analytics companies like "Chainalysis" are sifting-up the details and placing tags on a whopping 25%-plus, of all Bitcoin addresses!

And now, we find out that U.S. Iternal Revenue Service (yes, the beloved IRS) is using this Bitcoin Tracing software (from the startup "Chainalysis") to monitor as many Bitcoin transaction as possible.

So, if you pay your taxes and have no secrets, then do you have anything to worry about? Should we be upset that exchanges like Coinbase are allegedly storing wallets in such a way that an analytics company like Chainalysis or BitSeer can identify individual users?

And what does it mean that the owners of Coinbase have an ownership stake in the startup Chainalysis?

=== Show Links ===

http://coinmarketcap.com/
https://www.coindesk.com/irs-using-bitcoin-tracking-software-since-2015/
http://fortune.com/2017/08/22/irs-tax-cheats-bitcoin-chainalysis/
https://www.reddit.com/r/Bitcoin/comments/6vbhcv/good_morning/
https://cointelegraph.com/news/hodlers-beware-hackers-persuade-phone-companies-to-hand-over-numbers
https://cointelegraph.com/news/each-bitcoin-could-be-worth-619047-in-10-years-forbes-contributor

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