crypto-gold-rush

The Bitcoin Deal You Made Could Come Back to Haunt You

Facebook has announced it’s banning all ads that promote cryptos, including… Bitcoin. Facebook claims it has to protect users from “financial products and services frequently associated with misleading or deceptive promotional practices.”

This rationale is quite frankly,  irrationale. Facebook is now seizing our freedom, and for all practical purposes, will eventually ban all political advertising.

Indian government added fuel to the fire, announcing it wants to “stamp out cryptocurrencies.”

According to Wired Magazine, that bitcoin deal you made on the dark web, just might come back to haunt you.

KEY TAKEAWAYS:

  • Facebook announced they are banning promotion of cryptos
  • Other factions, including India government wants to join the party
  • The transaction you did five years on bitcoin just might come back to haunt you

Because the cryptocurrency isn’t controlled by any bank or government, it can be very difficult to link anyone’s real-world identity with their bitcoin stash. But the public ledger of bitcoin transactions known as the blockchain also serves as a record of every bitcoin transaction from one address to another. Find out someone’s address, and discovering who they’re sending money to or receiving it from becomes trivial, unless the spender takes pains to route those transactions through intermediary addresses, or laundering services that obscure the payment’s origin and destination.

Cryptos do offer an avenue to keep transactions private  – if you know what you’re doing. You can also buy gold and silver in relative privacy. Of course, the IRS wants to know your business.

Original Source: https://schiffgold.com/fun-on-friday/fun-friday-secret-bitcoin-deal-made-come-back-haunt/

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