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Author Topic: Is putting public bitcoin address for donation dangerous for your privacy?  (Read 5221 times)
ripper234 (OP)
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June 12, 2011, 09:13:02 PM
 #21

Backups are good for reliability reason. When your hard disk crashes, it is good to have backups!



I think he didn't mean that backups protect against theft. He said that the wallet should be unencrypted on a dedicated machine only - that's the protection.

True. It's very simple:
1. Keep two wallets, one with a small amount of money on your everyday computer, and another that will be created on a secure, brand new computer.
2. Encrypt your secure wallet with a strong password, and back it up on Dropbox (backup the normal wallet as well).
3. Never enter this password on a non-secure computer.

That's it.

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Rob P.
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June 13, 2011, 12:24:04 AM
 #22

True. It's very simple:
1. Keep two wallets, one with a small amount of money on your everyday computer, and another that will be created on a secure, brand new computer.
2. Encrypt your secure wallet with a strong password, and back it up on Dropbox (backup the normal wallet as well).
3. Never enter this password on a non-secure computer.

That's it.

I'm sure you do this every time you want to send money that is more than your "everyday" wallet has in it, right?

Yea, neither will anyone else, which is why it's an issue.

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bcearl
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June 13, 2011, 08:15:20 AM
 #23

Backups are good for reliability reason. When your hard disk crashes, it is good to have backups!



I think he didn't mean that backups protect against theft. He said that the wallet should be unencrypted on a dedicated machine only - that's the protection.

True. It's very simple:
1. Keep two wallets, one with a small amount of money on your everyday computer, and another that will be created on a secure, brand new computer.
2. Encrypt your secure wallet with a strong password, and back it up on Dropbox (backup the normal wallet as well).
3. Never enter this password on a non-secure computer.

That's it.

"brand new" is not security, computers are often shipped with malware.

Misspelling protects against dictionary attacks NOT
AniviaBtc
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August 30, 2020, 01:19:22 PM
 #24

Yep. Every transaction you make potentially leaks a little information about other transactions to/from your bitcoin wallet.

And that makes it risky for you to donate with your own wallet. Try to donate in cash/fiat instead of doing that. There are much safer way for you to help someone and donate your money where you will not risk your privacy and anonymity in your assets. A little information is a big opportunity for those hackers and scammers, so you should prioritize your privacy and anonymity and at the same time helping other people with donations. It can link to another platform or account so always be careful when making transactions.

thesmallgod
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August 30, 2020, 01:27:15 PM
 #25

Well, since the information about your wallet can be known via any of the public addresses, then I think you are not completely anonymous so your privacy is not totally safe. However, since limited information is still very known and other information most importantly the address, name, and location of the owner is still not known, I still do not think the public address is dangerous to your privacy. The information that can be gotten is still very limited
Lizzie_Girl
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August 30, 2020, 03:31:54 PM
 #26

I also had this problem. I always use separate addresses for airdrops because many are scams and I will just hold the coins and if I find them on the market I will sell them and get the bitcoin from the exchange.
You could transfer your bitcoin into another currency then back to a brand new wallet from the exchange or elsewhere. You can't trace it that way.

impact.affiliate
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August 30, 2020, 04:53:00 PM
 #27

I also had this problem. I always use separate addresses for airdrops because many are scams and I will just hold the coins and if I find them on the market I will sell them and get the bitcoin from the exchange.
You could transfer your bitcoin into another currency then back to a brand new wallet from the exchange or elsewhere. You can't trace it that way.

What about KYC on the exchange or markets?
For example, if police want to find you, they can send request to the exchange where you buy/sell bitcoins and receive all info about you.
Anna138
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August 30, 2020, 04:59:10 PM
 #28

Yep. Every transaction you make potentially leaks a little information about other transactions to/from your bitcoin wallet.

That's why I always say "bitcoin anonymity is complicated" and "bitcoin transactions are more private than credit card or bank transactions, but less private than cash transactions" or "staying completely anonymous while using bitcoins is hard."

And that's why you won't find (or, at least, shouldn't find) any claims that bitcoin is anonymous on the bitcoin.org home page or in the bitcoin source code.

What can you do? Use separate wallets. Make your donation address an instawallet or mybitcoin address that you don't use for anything else.

You must create a separate wallet for each of the donation options. Then the security will be much higher if you immediately post your main bitcoin wallet. Anonymity is still present, but it is not so anonymous that it would not track the conclusions and transfers of large amounts. Be careful with your transactions.
impact.affiliate
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August 30, 2020, 07:12:48 PM
 #29

Categorically, bitcoin can never force you to release your real identity in public.giving out your real address in public is like calling scammer into your privacy,because your bitcoin is your bitcoin.

Scammers can find you anywhere, send virus to your PC or something like that, and get all your funds.
Question is how to 100% hide your identity when using bitcoin?
AicecreaME
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December 12, 2020, 02:21:15 PM
 #30

Let me answer first your question on your topic.

The answer was already given by the question you provided. The word Public contradicts the word Privacy, so yes, in a way, your privacy is in danger if you'll put your Bitcoin address in public, like giving hackers a hint on what address they should start the hacking for example.

<...>

End result - someone knows (or has a pretty good guess) exactly how much bitcoin I have, just because I put up a public donation address.

Please refute.

And about this one, even if you don't put your Bitcoin address, anybody can still copy and paste your address in blockchain to see how much bitcoin do you have and all the transactions you've made. In short, Bitcoin is anonymous but the user's anonymity will entirely depends on how you are going to use your Bitcoin.

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bitcoin_paypal
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December 12, 2020, 02:28:36 PM
 #31

Because of all these reason i still dont understand why everyone like public chains so much
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