Silk Road forums
Discussion => Security => Topic started by: BashfulBetty on October 24, 2011, 06:40 pm
-
In any number of threads, someone mentions transferring coins to Mt Gox (or some other exchange), selling them, then buying new coins as a way to clean their SR revenue. Inevitably, someone else replies that this doesn't work, as the exchange keeps records, and will give them to the cops if asked.
My question: Assuming the cops have a bitcoin address, how can they tell which, if any, exchange hosts that account? How do they know where to send the subpoena?
Am I missing something here?
-
That's a good question, probably best answered by someone knowledgeable about the intricacies of Bitcoin transfers. Perhaps one of those Bitcoin forums might have the answer you're looking for.
But I just assume that Bitcoins aren't anonymous, despite what's been said about them. People quite familiar with the Bitcoin system seem to agree that tracking Bitcoin movements is pretty easy. To get around this, I keep seeing Bitcoin buyers sending their coins to intermediate sites to break the chain of ownership; i.e, users will send Bitcoins to AccountHolderX (or some such name) at some Bitcoin exchange. Who has ownership of AccountHolderX's account? It could be you, or it could be an account held by someone who did some work for you and prefers to be paid in Bitcoins.
-
I operate on the theory that btc aren't illegal at all, and that my own speculation in them, buying/selling, certainly could be traced, if they really really wanted to expend that kind of energy...but of course, once they get tumbled a couple of times, hell, what kind of computer power are they aiming at somebody...do they have unlimited resources? By the time, say, some btc get to SR it would take a whole lot of highly paid diligent cops to follow them.
But yeah, all/most of us have some part in this where we are visible, whether it's standing in line at the bank to deposit cash, or buying a postal money order...sure...but from then, one can add on layer upon layer...some young lawyer would probably find this fascinating, trying to prove 'ownership' of btc in the cloud...especially someone like me, who lives out near the Corn Islands of Nicaragua hahaha.....gotta sail to the next island just to get Inet access...lucky we got wind out of east :)
-
...Assuming the cops have a bitcoin address, how can they tell which, if any, exchange hosts that account? How do they know where to send the subpoena?...
By simply asking without a subpoena.
The exchanges are legitimate businesses who'd like to remain so -- both legitimate and in business -- and would be inclined to answer any question the authorities might have. Plus, even without a subpoena, there's always the implicit threat of a false statement, obstruction of justice, or terrorism charge if they don't answer up. That alone would loosen plenty of tongues.
Figure if they query the top ten exchanges they've covered 90% of the market. The odds of eventually finding a BTC address they're looking for are in their favor.
-
People aren't going to find certainty here. This is a new area, new technology, all in the cloud. We just don't now where its going to lead. Often people come here wanting reassurance, and they aren't going to get it. This is not a place for the easily spooked, for sure. Just how dedicated do you think the international community is going to be in wiping this out? If you think it's a high priority for them, then you don't want to be here. If you think we're not much more than a nuisance to a few hyper-religious american politicians, then you're probably in the right place. We don't agree on the threat level. Most of us don't even understand it. Fun, though :)