frederik_diamond on Nostr: Public ledgers are problematic. You can only hope there’s nothing linking your ...
Public ledgers are problematic.
You can only hope there’s nothing linking your personal identity to your #Bitcoin address, because they will definitely be scanning the Bitcoin ledger using tools from companies like Chainalysis to see if they can link a BTC address to someone in #Italy. Then, they’ll check if that person has reported their Bitcoin to the Italian equivalent of the IRS. If not, then that person is in trouble!
This is a good example of why I prefer #Monero. The problem with Monero is that at some point computers will be powerful enough to break the encryption algorithm that Monero is currently using. But this is a problem with anything encrypted.
https://cointelegraph.com/news/italy-bitcoin-increase-capital-gains-tax-26-to-42
You can only hope there’s nothing linking your personal identity to your #Bitcoin address, because they will definitely be scanning the Bitcoin ledger using tools from companies like Chainalysis to see if they can link a BTC address to someone in #Italy. Then, they’ll check if that person has reported their Bitcoin to the Italian equivalent of the IRS. If not, then that person is in trouble!
This is a good example of why I prefer #Monero. The problem with Monero is that at some point computers will be powerful enough to break the encryption algorithm that Monero is currently using. But this is a problem with anything encrypted.
https://cointelegraph.com/news/italy-bitcoin-increase-capital-gains-tax-26-to-42