Forums Chit Chat Bitcoin: does anyone get it?? Reply To: Bitcoin: does anyone get it??
#219
burton
25 Posts

Bitcoin is often called a “cryptocurrency”, but in that word, the “crypto” bit doesn’t mean that it’s anonymous or hidden. Bitcoin transactions can be tracked and traced more easily than usual cash transactions, but less easily than traditional bank transactions.

A good but rather techie discussion of this issue here…

Stolen Bitcoin Tracing – Computerphile

When bitcoin is spent, remainders are re-encoded & combined – how do you separate out any ill-gotten gains from the legitimate hard-earned lucre? Outlining his team’s solution: Professor Ross Anderson of the Computer Laboratory, University of Cambridge.

Also “How Bitcoin Works – Computerphile”: https://www.youtube.com/watch?v=JyxRH18YlpA