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RE: Greece as an Example for the Power of BitCoin
You deserve more upvotes!
Also fitting that the EU officials passed legislation to make money freezing easier. They know the writing on the wall already.
But BitCoin is not as anonymous as you may think, and governments can trace it, although it is difficult to do so.
They sure can trace the BitCoins, but they can't trace them back to the person, as long as the person doesn't want to be traced.
Of course, most people buy and keep their BitCoins on some exchange, which makes them traceable to the person.
But as soon as they dive into Cryptoland, there's no reasonable way anyone can pinpoint the owner. But, yes, they can see every transaction.
Well, they can, yes, but then again, if one takes the precautions - like for example using cold wallets instead of transferring from one exchange to the other, the chances of the government succeeding are zero. They might catch some Dude who wants to buy a shitload of weapons-grade plutonium, but I doubt that they have the resources to trace the little guys that like to buy some pot now and then. And the biggest problem for governments and banks isn't even some dude buying plutonium. It's that if crypto currencies keep growing at that pace, they will make their fiat money worthless.