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Cinnamon

Amazon Wins Patent For Data Stream To 'Identify' Bitcoin Users for Law Enforcement

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Amazon, the online retail and technology giant owned by billionaire Jeff Bezos, won a patent in the US for a subscription feed that the company claims could “identify [Bitcoin] transaction participants” for governments and law enforcement.

The patent, which was filed in 2014 but approved on Tuesday, comes at a time when regulators’ desire to track and police cryptocurrency is running up against the technology’s core promises of pseudonymity for users. Bitcoin users, for example, are represented in the virtual currencies ledger by strings of text and numbers generated by a cryptographic algorithm. Taxation for Bitcoin thus relies on self-reporting. Amazon’s system, if it comes into being, could allow government subscribers to “correlate tax transaction data” with Bitcoin data in order to identify people, the patent filing says.

<snip>

https://www.blacklistednews.com/article/65252/amazon-wins-patent-for-data-stream-to-identify-bitcoin-users-for-law.html

The end of anonymous transactions in the near future. 

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Bezos is the ultimate hypocrite knob gobbler who pays no taxes, gets taxpayer subsidized USPS shipping, but has the gall to rat out bitcoin users to the IRS!!!!

WTF is wrong with this picture??

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5 hours ago, CDN Eh Hole said:

WTF is wrong with this picture??

For some reason no-one understands, Amazon's new patent doesn't pick up any billionaires who've reportedly diversified into crypto. 

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Bitcoin was never really anonymous. There are other cryptos designed around anonymity 

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6 hours ago, Dr. Evil said:

For some reason no-one understands, Amazon's new patent doesn't pick up any billionaires who've reportedly diversified into crypto. 

I concur 100%!

I don't see a lot of movement from billionaires in crypto these days either but then I haven't really been paying close attention to crypto news.

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