Stop bitcoin transactions, the U.S. government idea can really achieve?

Author Zhang | asked

| editor Yang Shufang

In November 28th, the U.S. Treasury Department’s office of foreign assets control (OFAC) in a “designated” sanctions list, announced the two Iran bitcoin address, the reason is the two has been helping Iran hacker, the bitcoin exchange currency in Iran.

This is the first time in history, the government and individual Name bitcoin address corresponding to Khorashadizadeh and Mohammad announced: Ali and Ghorbaniyan both Iran bitcoin address is 149w62rY42aZBox8fGcmqNsXU

ZSStKeq8C and 1AjZPMsnmpdK2Rv9KQNfMurTXinscVro9V.

One

The U.S. Treasury Department released the address of the purpose is very clear, is to stop people and the two address again traded. This broke the bitcoin anonymity – originally, the combination of letters and numbers of the bitcoin address, the public does not know who is behind.

However, the U.S. government to stop bitcoin transactions, can succeed?

We found that in November 30th from the bitcoin browser, which is blacklisted after the announcement of the two day, the two address still trades, someone gave them a small amount of bitcoin, only in order to attach the lower left corner of the memo, anyone in the world can see a sentence: “the United States the government is not banned bitcoin address.”

In essence, bitcoin is created, in order to prevent this from happening. It is difficult to have a person or group to change the giant to the center of any transaction on the network. Is only, the world’s largest mining business bit, a year sales of millions mills.

Mao Shihang, founder of the world’s third-largest mining pool F2pool mine pool has said in a recent Bobbi bitcoin market adjustment, at least 60 million to 80 million miners were forced to leave the industry. This is the master miner of the network.

If you want to delete the transaction, it is theoretically possible. He needs to convince the 51% miners to listen to his words on the line, that is “51% attack”. This not only takes time, also need money.

PDB co-founder Husam ABBOUD capital has calculated in May, if the bitcoin 51% attacks, $2 billion 300 million.

Two

From the U.S. Treasury Department official said, the address is announced a new round of sanctions on Iran.

The parliament of Iran Economic Committee Chairman Mohammad Reza Pour Ebrahimi said in a July 15th interview, digital currency is one of the main mechanisms can be used to evade sanctions against Iran. The United States wanted people to know that they have the ability to find the corresponding person’s identity from the anonymous address.

However, how to confirm the identity and?

The user’s bitcoin address can be changed, or to find a suitable exchange of virtual currency for a higher degree of anonymity, even transaction records are not check. “The Wall Street journal” has done a survey of the past two years, a total of nearly 9000 million transactions suspected of money laundering, and most transactions have crossed the scope of law enforcement authorities in the United States, now mostly in Eastern Europe.

The reason of Iran’s dependence on crypto currency mainly, is the United States sanctions. Iran Riyal has been devalued. 2015 at the end of the year, when Trump was in office, 1 $2.9 million riyals. Trump came to power, and in accelerating depreciation. On the black market, once appeared 1 dollar to 100 thousand pieces, now official control in the 42 thousand or so real.

From July 2017 to July 2018, the dollar exchange rate Riyal

Iran people have to choose more value things, such as gold, such as the dollar, such as bitcoin.

Iran local website from 2014 to bitcoin transactions now

The United States can in other aspects of sanctions against Iran, the effect is very good. But bitcoin is not they control, they can do is to stop all business transactions in Iran, such as currency and ShapeShift, the two are not supported in Iran users.

But it can not stop the Iran people use bitcoin. As investment consulting firm Athena Blockchain founder Drew Hinkes Twitter asked, “is in the United States or the node must be shielded from these miners blacklist address transactions?”

(author: Chong technology, content from the chain have open platform content too “; this paper represents the views of the authors and do not represent the official position of the chain too)

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