Is Bitcoin really untraceable?

22-07-2020, 01:18 PM

Humanplus Wrote: Nobody ever said that crypto is untraceable.

Know what? It is so easy to trace it, easier than to buy something with money.

Crypto is "numbers" and "math" = everything is logical and the crypto has to know where it may go and which way to go to reach someones wallet.

Crypto is easy to trace.

well it is news to me, i always thought it was untraceable, reading your post i have to do some research on this

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18-07-2020, 04:13 PM

Iroh Wrote: Does it really matter if it is traceable? Even if they find out who did it, they can order that person to pay back the people they stole from, however there is no way they can actually force them to give the bitcoin back. Bitcoin isn't like a bank account where the government can just withdraw funds if they shouldn't be yours.

To answer the question of whether it's traceable - you can trace the the wallet(s) the bitcoins were sent to and then any bitcoins these wallets sends to other wallets. So then it depends where thief's wallets are stored, or rather if any of these wallets rely on an online aspect that would allow the their IP to be logged - but I would expect they are just using offline wallets to limit the ability to trace the actual person who now has the coins.

The only feasible way of tracing who stole the money will be to try and determine who accessed the stolen wallets if they were stored online, and to go from there. If they have no information based on the thief accessing the victims' wallets, it will be very easy for the thief to be untraceable.

so it is possible for it to be untraceable, good post, i will look into this