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RE: Russia To Launch Their Own National Cryptocurrency & Allow Bitcoin Trading Again 🇷🇺
This is the future of crypto, unfortunately. Invest in Monero, or whatever coin has the best privacy features. Eventually they will all be outlawed, so only the coins that keep you and your transactions a secret are future-proof. There will be an "approved" national cryptocurrency and everything else will be seen as a tax evasion mechanism.
Governments have to realize that when blockchain is done, income tax will be too. They will have to go back to taxing property and tangible luxury assets heavily like they should have been doing since the beginning, instead of targeting their massive tax books at the little people and allowing the ultra rich to jump through all of the loop holes they've built in to it.
Public blockchains do not reveal who owns a wallet. As long as you don't reveal your identity knobody can know. All chains are safe for ever and can never be controlled.
There will be publically approved whitelisted wallets that will be associated with individuals. Transactions conducted from unassociated/blacklisted addresses will be investigated. The forensic tools for hunting through the blockchain are becoming sophisticated. If you think the intelligence and policing communities aren't spending tens of billions of dollars developing technology to monitor blockchains you are living in la-la land.
Please explain to me how unassociated/blacklisted addresses can be traced to a person?? it exists only in cyberspace
Unless you bought bitcoin through localbitcoins.com, you bought them with a credit card or some other means that can be traced back to the hash that was generated and associated with your credit card at that time. You can tumble all you want, but the blockchain is a TRANSPARENT ledger that records all activity. You could swap between cryptos and all that to hide your trail, but to do that you're going to be using exchanges, which generally verify some information for you to gain access to higher tiers and features. Cashing out from crypto into fiat especially requires you to go through quite painful identification processes.
A country could simply packet-sniff and block all traffic that looks like whatever crypto they want to ban and force you to use the national crypto. They do this in China to block Tor users, so they have to use bridge nodes in order to escape the great firewall. Not without its risks.