Questions on Crypto, how do I know I own and if there is really no trials of it

It sits in your bank account or wallet like any currency

Like the USD $ - how do you know you have this what do you check?

Crypto transactions have on a Network direct with buyer or seller there is no bank or institution

 Crypto can be anonymous it happens on a decentralised blockchain network no banks or GOV are involved hence why they don’t like it!

https://www.kaspersky.com/resource-center/definitions/what-is-cryptocurrency

Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.

Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. Cryptocurrency is stored in digital wallets.

I was referring to Dark Web - Silk Road - Ross Ulbricht

Unless he has been released since Jan 2022

https://slate.com/technology/2022/01/ross-ulbricht-dao-silk-road-prison.html

But how do you know if you have Crypto ?

Transactions in crypto are almost impossible to track but buying or selling them is a transaction in real fiat currency so far easier to track.

Not according the US enforcement agencies, it's made it very easy for them to track criminal gangs watching Bitcoin Addresses because it's public blockchain!

He didn't create the Dark Web.  He just had a pretty popular store over there.

Dark Web - Silk Road - all the same! - Crypto was used to buy and sell stuff anonymously, and that worked out well for him, thinking he was Anonymous, he's in jail !

>>Dark Web - Silk Road - all the same!

Not even close.  That's the same as saying EBay and the Internet are the same.

Not even close.  That's the same as saying EBay and the Internet are the same.

for 99% of people it is!

also like Google is the Interweb!

Tracking transactions is indeed trivial, but then you have to pin down the wallet to a person or physical address. Silk Road wasn't traced via bitcoin transactions, somehow the server's real IP address was found.

• How do you know you own cryptocurrency? Is there a document, how do you know?

you have a wallet and you deposit coins into the wallet. Don't lose the wallet.. I have 50 Bitcoins from the early days of Bitcoin and was mining then grew tired of it and the wallet exists somewhere (I'm fairly confident of this) but currently on an unknown media. Maybe one of my QIC80 tapes.

The wallet can be locally hosted or exist on an exchange. 

While we're on the subject of bad ideas, I'll note that the Zcash blockchain has been subjected to a spam attack. Spam isn't just for eMail anymore. This was done by creating bloated but cheap "shielded transactions" on the Zcash blockchain. And as a consequence of this attack, which has been underway since June, the size of the Zcash blockchain has more than tripled to over 100GB. As the Zcash blockchain has grown huge, cryptocurrency experts expect Zcash node servers, which must retain a full local copy of the entire blockchain, to start failing due to memory shortage. ALL of this points to an extremely immature technology and a gold rush attitude. Recall that in the actual California Gold Rush, 1848 - 1855, with few exceptions, the only people who made money were those selling the gold digging, panning and sluicing supplies to the hopeful miners.

https://www.grc.com/sn/SN-892-Notes.pdf

 

Hi slightwv (䄆 Netminder),

• Yes, that info understood, but how do I know or evidence it is it my crypto?

Hi Andrew Hancock

• Understood, crypto doesn't really sit in my wallet rather on the blockchain; but how do I know is mines and no one else? (Ok, I get the wallet connect to the blockchain, but that “connection” who does it and how is related to me?)

Hi andyalder,

• Ok, crypto it sits on the blockchain, but how do I know is mine?

HI David Johnson, CD, 

• Understood, but the same question, how do I know is my wallet?

Guys, I’m so sorry I am not at u guys level, I reread your answers to grasp that part of my question but have had no success.  I have found info on mining and the way the transaction is recorded in the blockchain and how the calculation identifies the funds etc., but I have not been able to identify how do I identify is my wallet (did I miss that info in your answees?).

you open your wallet and look. Either Self-Hosted Wallet or Cloud Wallet. Normally protected with a password.

Bitcoin/Ethereum/Doge Coin and others have their own dedicated wallet. There are some wallets that have different sections for the different types.

I don’t have Bitcoin or any other crypto currency and understood on u guys info on wallet address keys and its uniqueness within this world of crypto.

I can summarize and let me know if I’m somewhat on track with the conversation here, I can buy crypto from financial institutions like PayPal (like one u guys said).  Then when purchased, definitely my personal information, which is already in PayPal will link to the crypto purchase, thus now will also be in my wallet – thus, with these financial institutions selling me the crypto, I can identify that the wallet is mines.  In essence would answer my question how I know it its mine.

But how was it before the banks and other institution sold crypto that were no banks or PayPal? How was that process? - (I understand the part of mining in my computer, and I get to generate a bitcoin based on some sort of calculation done - sorry for the vague example – my computer generated that bitcoin and I assume that a unique identifier is set of my coin within the blockchain or something like that).  

When you mine crypto you have a digital wallet 

• Who gives me this digital  wallet?

You download and create it!

Go here download and install a Ravencoin Wallet

https://ravencoin.org/wallet/

Or sign up on a website

Or purchase a hardware key

I see that Ravencoin been around since 2018 and is peer-to-peer (which I believe is connected to bunch of computers regarding the crypto mining, buying and selling), am I on the right track?.

Two questions,

• When Bitcoin started back 10+yrs ago, was there a similares apps or business like Ravencoin where u sign up, get a wallet, etc.?
• With Ravencoin and similar, there has to evidence of my info like social security, etc.?

Oh, no buying for now, It was a conversation we had here, and my boss requested info (I don't know if my boss is planning buying).  Two main question was "How do I know is mine?" and "documentation", which both was answered with te PayPal entries and Ravencoin entries (both can demonstrate ownership, and both has one's personal data online relating to the crypto).

The pending part is my recent entry (and this came upon when I presented the PayPal answer):

• When Bitcoin started back 10+yrs ago, was there a similares apps or business like Ravencoin where u sign up, get a wallet, etc.? or how was done at that time?

That you bought (or may buy) your crypto through PayPal, eBay, bank etc is covered by the law of your country but crypto currency itself isn't governed by those laws, it's just numbers in a P2P ledger an you hold a couple of those numbers if you have a wallet. US (and several other countries) require PayPal etc to give your details to them if you buy or sell but the underlying blockchain doesn't require that.

Wallets are free, do you want to know how to get one (it'll have no coin in it of course).

Close enough although other crypto exists because people thought up different algorithms and rules.
https://www.blockchain.com/en/search?search=1NkJzo5YV99ZQteLYRcNzvwy8iYfxLnceh for example shows the same wallet public key on BTC and BCH blockchains since BCH was forked off BTC (they started a new algorithm but kept the old blockchain as a starting point).

What am I missing or got wrong or not close enough? 

• The bitcoin wallets calculate their spendable balance (transactions and validate bitcoins owned by the spender)

no it only shows what coins or partial coins you own. i.e. your bitcoin balance. Because every transaction is distributed there usually is a transaction fee involved and some transaction delay. Every bitcoin has all the transactions used by that bitcoin registered.  This is how some hackers that stole millions of dollars of bitcoin were caught even though they moved the bitcoin among a bunch of registers and other wallets the eventual payout in fiat currency was tracked and the hackers arrested. 

Why Bitcoin Transactions take so long to Complete 

Crypto Currency Transaction Fees

Thank u!

So that is the only thing? (prior closing question)

Well the subject of Crypto is HUGE! It could be discussed constantly. There is really no end to Crypto !

It started with Bitcoin, but now there are  'alternative' cryptocurrency coins – altcoins - and there are at least 5,000 and growing!

like Ethereum is no longer mined! It went Proof of Work (mining) to Proof of Stake !

I understand thank u very much for your input. 

I have to give a summary to my boss.  Based on u guys input and what I have gathered, I believe the summary below is enough for my boss to at least grasp a concept of the topic and go from there.   

I would like u guys input on this summary, I don't need technical stuff or history, but if u guys want is no problem, greatly appreciated.  

To close this question, the summary below, is it enough for my boss to at least grasp a concept of crypto:

• Back when Crypto started, bitcoin, you downloaded a code to calculate complex mathematical problem to solve
• If my computer solved the algorithm, then I would own a block of 50 coins
• The maximum is 21 million bitcoins that will ever be created in total (this limitation of 21m is the reason other crypto exist now)
• This activity of my computer mining, buying/selling resided in a block chain which is a shared public ledger on which the entire Bitcoin network relies 
• This block chain lives in this Peer-2-peer network where all users with said code-algorithim connects to, reports to, transactions to (every crypto user has access to all activity in this block chain, so rarely can be manipulated due to its own validation of the calculation)
• The bitcoin wallets calculate their spendable balance (transactions and validate bitcoins owned by the spender)
• Thus, the wallet is the code in my computer, or like Andrew said the Bitcoin (BTC) address I have

That’s fine you can always ask another question

Thank u, will proceed to close the question.