What is Chain Analysis | Explained

[xBDT Script 4371]

You must know in some incident the authority was able to get the criminal even when we know bitcoin is anonymous. Well we already know that bitcoin is pseudonymous and using chain analysis tools we can trace the coins where they are going and where they came from. In some part if you take them from an exchange where KYC was involved then it is easy for them to know your details and to get you. 

The chain analysis industry is becoming pretty big and there is a scope to get job there too LOL. As we grow it is good that that more crypto oriented services are being created, good step towards globalization.

Anyway, to chain analysis you just need to know only the address that you want to trace. The algorithm of the tool will check it and share you all possible real life activity regarding this and will give you the require data you need.

[Consignee 2395]

21 hours ago, xBDT Script said:

 

Anyway, to chain analysis you just need to know only the address that you want to trace. The algorithm of the tool will check it and share you all possible real life activity regarding this and will give you the require data you need.

So you are saying government can have a closer look at my financial activity even if I use cryptocurrency? This is a nice tool but hell, it will share that I am spending money with gambling site and it's illegal here, lol.

How much they are trusted with the information? I guess government investigation will have a significant incident where data leakage may cause much damage.

[xBDT Script 4371]

Just now, Consignee said:

So you are saying government can have a closer look at my financial activity even if I use cryptocurrency?

Well obviously as long as you will use blockchain technology which is pseudonymous like Bitcoin. I mean with bitcoin other which are not completely private - it is possible to trace a transaction but there are way to hide it even not using any mixer 😁

It is recommended to use change wallet to make their job harder.

Just now, Consignee said:

How much they are trusted with the information? I guess government investigation will have a significant incident where data leakage may cause much damage.

Well you do not need to trust them - everything is recorded in the blockchain you just need to verify it. 

[ibtismanipun 120]

That means any one who is specialist on this field can see my transactions. That's pathetic. Then my balance is insecure.

[sdsonjoy50 886]

Yes I had a little idea about this, I learned a lot from your post, I agree with you that the chain analysis industry is pretty big and there is a scope to get a job there too LOL.  As we grow it is good that more crypto oriented services are being created, a step towards globalization.

[Sourovdeb890 416]

14 hours ago, Goodcoin said:

This really makes sense about chain analysis for tracking and tracing. But still if the address of someone is know and someone mistakenly send crypto to the address, but it is not refundable? Even, if the address is tracked.

I agree with you yet, if an address sends someone the wrong way, then they are not refundable, and for trucking it has to go through a lot of problems and canceling the transaction does not go away.

[Opinder 1310]

On 10/28/2019 at 9:55 PM, xBDT Script said:

You must know in some incident the authority was able to get the criminal even when we know bitcoin is anonymous. Well we already know that bitcoin is pseudonymous and using chain analysis tools we can trace the coins where they are going and where they came from. In some part if you take them from an exchange where KYC was involved then it is easy for them to know your details and to get you. 

The chain analysis industry is becoming pretty big and there is a scope to get job there too LOL. As we grow it is good that that more crypto oriented services are being created, good step towards globalization.

Anyway, to chain analysis you just need to know only the address that you want to trace. The algorithm of the tool will check it and share you all possible real life activity regarding this and will give you the require data you need.

I think if this chain analysis would successful then crypto would accepted everywhere. Only untraceable features of crypto scared governments from accepting it.

[Yanadia 1517]

On 10/28/2019 at 11:25 PM, xBDT Script said:

You must know in some incident the authority was able to get the criminal even when we know bitcoin is anonymous. Well we already know that bitcoin is pseudonymous and using chain analysis tools we can trace the coins where they are going and where they came from. In some part if you take them from an exchange where KYC was involved then it is easy for them to know your details and to get you. 

The chain analysis industry is becoming pretty big and there is a scope to get job there too LOL. As we grow it is good that that more crypto oriented services are being created, good step towards globalization.

Anyway, to chain analysis you just need to know only the address that you want to trace. The algorithm of the tool will check it and share you all possible real life activity regarding this and will give you the require data you need.

Peope can said about chain analysis but the most things is only have one clue for the analysis means from my side, In the final analysis, it is mental skills that have an important role in most jobs.

[aymandr 206]

Value chain analysis (VCA) is a process where a firm identifies its primary and support activities that add value to its final product and then analyze these activities to reduce costs or increase differentiation.
Value chain represents the internal activities a firm engages in when transforming inputs into outputs.

[Shaza Ahmad 1682]

Therefore, privacy currencies such as dash have risen significantly, many people tend to conduct their transactions out of the eyes of governments and monitors and this is not available to them except in privacy currencies.

[bentayebsalah 2280]

Even if the chain is analyzed as you say, governments will not be able to keep an eye on your transaction and the knowledge of the person with that transaction because it does not contain your name and identity

[Brushless4500KV 4214]

I think this kind of fraudulent activity is only possible with coins that are being transferred in public blockchains like bitcoin. In open-source blockchains, the wallet address and funds are subject to public view and anyone can use this information for any purpose they want. This is where the benefit of privacy coins will be obvious. If you send money with them, zero information about your transaction will be shown to the public. In private networks, all information will be hidden inside blocks and no one can access them.

[tienda 8776]

This is my first time I heard about Chain analyse, what I have understood through your topic and members replies it seems this option walk to the traceable transaction project, so in the short future the transaction will be tracked completely.

[magd 5231]

The government will not be able to know your personal information by tracking your wallet address. Perhaps they can access the amounts that you have transferred, but it is very difficult to know your mail, name, and place of residence and they will not be able to know the sites that I work on unless they have my private mail.

[Zaino34 0]

I think that this is not possible, because no one can see our transactions. This is a feature that encryption transactions have. No one will be able to track our personal information unless we share it. Even governments will not be able to do that.

[Thekingcallme 1975]

But I do not think that cybercriminals with this stupidity and certainly will use everything fake and also use vpn and in this way it is impossible to follow them even if the chain is analyzed

[BTC Future 3946]

On 6/9/2020 at 5:27 PM, Thekingcallme said:

But I do not think that cybercriminals with this stupidity and certainly will use everything fake and also use vpn and in this way it is impossible to follow them even if the chain is analyzed

Are you sure? Do you know what mistakes both Vinnik and Ross Ulbrich did and were instantly found out by the feds and on-chain researchers? They gave their real names on forum posts. Do you think that criminals are masterminds and they cover all possibilities? Not exactly. Instantly linked with every other action they performed.

[Moaz 7239]

I do not think that is true, because one of the most important features of cryptocurrencies is decentralization and blockchain technology maintains the privacy of its users and therefore no person can track the personal information of cryptocurrency users and know their identity

[Affect579 66]

It turns out that a good specialist can track my transactions.If this is true then my idea of cryptocurrency is changing and it is no longer such an anonymous sphere

[Rosarvx 965]

the most important features of cryptocurrencies is decentralization and blockchain technology, I think trucking it has to go through a lot of problems

[TimopheyKa 3900]

it's true, as many people think, that cryptocurrency is anonymous, but that's not quite true. Of course, there are coins on the market that can be purchased anonymously, and this way you can be absolutely sure. But speaking about the blockchain system, and bitcoin, all this can be viewed, and then, sometimes it is difficult to withdraw funds so that no one knows about it. Even if you withdraw through various maps, you will be able to track, and this is not such an easy procedure!

[Michailma 637]

I think the transection will be okay if the receiver wallet address is correct not to make some errors and will not get refunds of the money again, this topics is very helpful to newbies members

[Ameralsamt 2558]

A value chain is a term used in business management to express a series of activities that contribute more to the value of the product than its cost. Usually all products go through a value chain that starts with research, development and engineering, moves to manufacturing, then moves to the customer or is disposed of. 

[Abdulrahman3 1252]

It is not possible for cryptocurrency platforms to request personal information from traders through the Know Your Customer service, because this contradicts the basic principle on which the idea of cryptocurrencies was based, which is to conceal the information of the seller and the buyer while maintaining a high degree of security.

[Ola22 197]

I think it is impossible, what I tried to communicate, you are my friend, because it simply contradicts the principle of working with cryptocurrencies and the principles of peer-to-peer or blockchain and secrecy in transactions, I do not think that transfers will be revealed according to the previous analysis that you mentioned.