I'm a Monero holder but I've been reading about HD wallets lately and I'm wondering why tech like CryptoNote is necessary when HD wallets change the address every time they send or receive.
Even though it's new addresses you can still use taint analysis to trace back through change addresses to make connections to a user Random address from the recent transactions box: https://blockchain.info/taint/1Mub9qZnaNxFSkF3FB612C8CdHC3qWWMW7The goal is to avoid the ability to do that from my understanding Thanks, is there an example of how taint analysis works within the context of BTC change addresses? I don't believe HD wallets are relevant to the privacy problem with Bitcoin. Even with simple wallets combining inputs from multiple addresses proves that a single person owned all the addresses included. Whatever marketing gimmick and fancy new wallet system they come up, it probably won't matter in the future if its not totally useless already. The blockchain is a public and permanent record of everyones transactions. Besides the fact that one would have to be 100% anonymous for each and every transaction, 100% of the time to remain untraceable, this means no space for any mistake in the past or in the far outreaching future for one using Bitcoin. If some agency wants to they will eventually connect the dots from enough public and private databases. Bitcoin was not made to be private, it is a nightmare waiting to happen. I agree with this concept. How much privacy do HD wallets really provide? |
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I'm a Monero holder but I've been reading about HD wallets lately and I'm wondering why tech like CryptoNote is necessary when HD wallets change the address every time they send or receive.
Even though it's new addresses you can still use taint analysis to trace back through change addresses to make connections to a user Random address from the recent transactions box: https://blockchain.info/taint/1Mub9qZnaNxFSkF3FB612C8CdHC3qWWMW7The goal is to avoid the ability to do that from my understanding Thanks, is there an example of how taint analysis works within the context of BTC change addresses? |
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I'm a Monero holder but I've been reading about HD wallets lately and I'm wondering why tech like CryptoNote is necessary when HD wallets change the address every time they send or receive.
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Is it really that easy? As long as I use Mycelium (or another HD wallet), I can send and receive BTC and automatically no one will be able to link any 2 transactions I've made?
Can anyone confirm this? None of the addresses can be derived by any of the other addresses? If that really is the case then my search is over. |
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Actually, does using an HD wallet accomplish the same thing?
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By simply using a HD wallet, like Mycelium. It takes care of everything. You have to make a backup once (writing 12 words on a piece of paper, but that in a safe) and from that point on, any current and future addresses (and their private keys) can always be restored. For every incoming or outgoing transaction, it will automatically switch to a new address. No user involvement required whatsoever. Really, it doesn't get easier than that.
Is it really that easy? As long as I use Mycelium (or another HD wallet), I can send and receive BTC and automatically no one will be able to link any 2 transactions I've made? |
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Use a different address each time so you dont store btc in the same address.
What would the workflow be like to accomplish that? |
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I've been thinking over how to send and receive BTC without tying my main wallet to the transactions. Here's the best I can come up with:
- Open two Blockchain.info wallets, label one "public" and one "private".
- Always send BTC from my main wallet only to my private Blockchain wallet, never to my public Blockchain wallet or anywhere else.
- Always send BTC from my private wallet to my public wallet using Shared Coin (faster, less than total privacy) or Shared Send (slower, total privacy).
- Send BTC from my public wallet anywhere I want. If I don't want the destination to be known then I can use Shared Coin or Shared Send, but if it doesn't matter then I can use a regular send which is fastest.
- Receive BTC to my public account and send to my main account with Shared Coin or Shared Send.
I think this prevents my main wallet from being tied to my day-to-day transactions, especially if I use Shared Send instead of Shared Coin. Is there a better/easier way?
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I installed Mycelium and it looks fine but then I found the Blockchain Android app: https://blockchain.info/wallet/android-appSo if I want to use Blockchain's Shared Coin to pay someone without linking the payment to my main wallet (and I don't want to import my main wallet's private key into a Blockchain account), I should send funds from my main wallet to my Blockchain account and then use Shared Coin to send those funds from my Blockchain account to the final recipient? Or I could set up a Blockchain account on blockchain.info, send BTC from my main wallet to there, and then use Shared Coin to send BTC from Blockchain to another account (Blockchain, Mycelium, etc) and use that to pay people so I don't have to use Shared Coin every time I want to pay someone. That might be better because I can't find Shared Coin in the Blockchain Android app. |
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I installed Mycelium and it looks fine but then I found the Blockchain Android app: https://blockchain.info/wallet/android-appSo if I want to use Blockchain's Shared Coin to pay someone without linking the payment to my main wallet (and I don't want to import my main wallet's private key into a Blockchain account), I should send funds from my main wallet to my Blockchain account and then use Shared Coin to send those funds from my Blockchain account to the final recipient? |
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I've been a BTC holder for about a year and a half but I'm such a miser that I've never spent any of it. An online shop I want to place an order with accepts BTC so I'm ready to take the plunge. I'm thinking an Android wallet with a small balance makes sense. Any recommendations for that software?
I also don't want everyone I spend BTC with to know my main account's balance. What is the best way to prevent that from happening?
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It seems to me that Counterparty has a lot going for it but will it always be considered "slow" compared to other 2.0 tech since it's based on Bitcoin which takes a long time to confirm transactions?
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Given the above, why would XMR, a coin concerned with privacy and anonymity, build anything on top of OB? Am I missing something? Not every bit of buying and selling needs to be anonymous (nor do I necessarily want people rifling through my finances just because I happen to transact with them non-anonymously), but if you do want to run a p2p marketplace anonymously, do it as a hidden service on Tor or i2p. Perhaps someday there will be some tools/packages that make this easier to set up, or support for it built into the OB/FB code itself (as we plan to do with the Monero node and i2p). I wouldn't be surprised. I don't understand this mentality within the context of XMR. There are other marketplaces which are decentralized instead of p2p. Why not use one of those? |
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Given the above, why would XMR, a coin concerned with privacy and anonymity, build anything on top of OB? Am I missing something? |
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Interesting. So BTCD is actually a good project. Are there any worthwhile anon coins besides CN and BTCD? |
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How does BitcoinDark compare to CryptoNote?
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It seems like the curve is dragging down the XMR price and could do so for the next several years. What are the reasons not to change it?
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we have mymonero.com and MEW voted on the emission curve
Is this why the price has been headed back up lately? What is the significance of the emission curve vote? Will the curve be changed? |
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