Bitcoin and anonymity

[TimtheYoutuber]

Many people actually think that Bitcoin is completely anonymous which is obviously false. Bitcoin is pseudo anonymous, everyone can view transaction details. Staying anonymous is really important because someone could use information about your wealth against you. I'm not surprised that quite a lot people decided to switch to Monero or Zcash. They both support fully-anonymous transactions. We should focus on making transaction fees lower. Then we can work on this issue.

Yes and in my Medium article I talked alot about this. You dont have to be a "scammer" to utilize anonymous transactions. Lots of people dont want others to know their wealth for obvious reasons and businesses wouldn't want competitors to see balances.

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[AltcoinAuthority]

Many people actually think that Bitcoin is completely anonymous which is obviously false. Bitcoin is pseudo anonymous, everyone can view transaction details. Staying anonymous is really important because someone could use information about your wealth against you. I'm not surprised that quite a lot people decided to switch to Monero or Zcash. They both support fully-anonymous transactions. We should focus on making transaction fees lower. Then we can work on this issue.

Yes and in my Medium article I talked alot about this. You dont have to be a "scammer" to utilize anonymous transactions. Lots of people dont want others to know their wealth for obvious reasons and businesses wouldn't want competitors to see balances.

If they keep quiet and not tell anyone their Bitcoin address then they can stay anonymous. That is why most people like using Bitcoin for certain transactions.

[TimtheYoutuber]

If they keep quiet and not tell anyone their Bitcoin address then they can stay anonymous. That is why most people like using Bitcoin for certain transactions.

How do you cash out bitcoin then? If you use an exchange they will have your connected ID. If you sell in person, someone will see you etc

[Pan Troglodytes]

If they keep quiet and not tell anyone their Bitcoin address then they can stay anonymous. That is why most people like using Bitcoin for certain transactions.

How do you cash out bitcoin then? If you use an exchange they will have your connected ID. If you sell in person, someone will see you etc

How would you cash out Monero or Zcash ? The same arguments stand, I think

[khaled0111]

Maybe there are other coins that offer more privacy but they are not old and famous as Bitcoin.
Bitcoin is the most trusted coin. it is affordable to everyone.
Cryptocurrency users look for anonimity and Bitcoin afford the minimum required.
I thinl the biggest advantage of Bitcoin is decentralization.

[TimtheYoutuber]

Maybe there are other coins that offer more privacy but they are not old and famous as Bitcoin.
Bitcoin is the most trusted coin. it is affordable to everyone.
Cryptocurrency users look for anonimity and Bitcoin afford the minimum required.
I thinl the biggest advantage of Bitcoin is decentralization.

Well yeah, I think this is the big reason that people are sticking with it. Bitcoin offers enough for most users.

[ovibd]

To learn more about Bitcoin and its Anonymity features, check out my Medium post: /dqKGio]Bitcoin and Anonymity



Is privacy really a big deal? I created a thread a little while ago to see some peoples opinion : https://bitcointalk.org/index.php?topic=2479788.msg25386090#msg25386090

And it seems that it is a huge deal, however we can see that Bitcoin is not really that anonymous  . So the question is, why aren't privacy coins much bigger in terms of market cap? If people really value privacy, and there a ton of better options, why are we still stuck on Bitcoin that in some ways is inefficient?


Thoughts?

I am also learn your Anonymity and Bitcoin and I am try to Understand that.

[Irvinn]

While most people put the bitcoin profitability to the fore, not its anonymity. They want to invest in it, in order to make a big profit after some time because of its price growth.
     However, bitcoin is really only relatively anonymous and needs to be strengthened. Everyone can go to the blockchein and look at the wallet of interest which coins are stored there and how much. This should not be. This information should be closed to the general access, as for wallets with large amounts of hackers make attacks in the first place.

[TimtheYoutuber]

While most people put the bitcoin profitability to the fore, not its anonymity. They want to invest in it, in order to make a big profit after some time because of its price growth.
     However, bitcoin is really only relatively anonymous and needs to be strengthened. Everyone can go to the blockchein and look at the wallet of interest which coins are stored there and how much. This should not be. This information should be closed to the general access, as for wallets with large amounts of hackers make attacks in the first place.

If big companies are going to accept it, something will have to be done. Companies will not want their competitors to see how much money is in their wallet.

[_nur]

http://fortune.com/go/finance/jp-morgan-bitcoin-zcash-wilcox/

what mainstream reads

[r1a2y3m4]

Nowadays, privacy is a big deal and so is identity. With millions of humans out there, the only thing that giving you meaning is your identity. That is why the dealings of that identity should be kept private. You heard of the theory that google and facebook are selling our privacy to make us susceptible to commercial right? imagine what the banks are doing with our transaction records.

[TimtheYoutuber]

Nowadays, privacy is a big deal and so is identity. With millions of humans out there, the only thing that giving you meaning is your identity. That is why the dealings of that identity should be kept private. You heard of the theory that google and facebook are selling our privacy to make us susceptible to commercial right? imagine what the banks are doing with our transaction records.

Defiantly, which leads me to believe more people should be using privacy coins although I think they are more susceptible to regulation.

[raypinch]

I am sure that privacy will disappear very soon, there will be privacy in coins but you will not be able to deposit or withdraw from exchangers without identity verification.

[TimtheYoutuber]

I am sure that privacy will disappear very soon, there will be privacy in coins but you will not be able to deposit or withdraw from exchangers without identity verification.

This is what I am thinking as well.

[mikan111]

I like anonymity but I know anonymity is not possible no matter how hard you try. There is only more or less anonymity.

[TimtheYoutuber]

I like anonymity but I know anonymity is not possible no matter how hard you try. There is only more or less anonymity.

Keeping yourself hidden online is very hard. I agree to some extent.

[spinno]

While most people put the bitcoin profitability to the fore, not its anonymity. They want to invest in it, in order to make a big profit after some time because of its price growth.However, bitcoin is really only relatively anonymous and needs to be strengthened. Everyone can go to the blockchein and look at the wallet of interest which coins are stored there and how much. This should not be. This information should be closed to the general access, as for wallets with large amounts of hackers make attacks in the first place.
It is an already well established fact that Bitcoin is not very anonymous, as soon as someone makes a serious investigation. The news has recently emerged that the US is tracking all transactions and possibly (my suggestion) building already a database of who is who among the holder. Many people actually think that Bitcoin is completely anonymous which is obviously false. Bitcoin is pseudo anonymous, everyone can view transaction details. Staying anonymous is really important because someone could use information about your wealth against you

[TimtheYoutuber]

While most people put the bitcoin profitability to the fore, not its anonymity. They want to invest in it, in order to make a big profit after some time because of its price growth.However, bitcoin is really only relatively anonymous and needs to be strengthened. Everyone can go to the blockchein and look at the wallet of interest which coins are stored there and how much. This should not be. This information should be closed to the general access, as for wallets with large amounts of hackers make attacks in the first place.
It is an already well established fact that Bitcoin is not very anonymous, as soon as someone makes a serious investigation. The news has recently emerged that the US is tracking all transactions and possibly (my suggestion) building already a database of who is who among the holder. Many people actually think that Bitcoin is completely anonymous which is obviously false. Bitcoin is pseudo anonymous, everyone can view transaction details. Staying anonymous is really important because someone could use information about your wealth against you

I do agree with you that it is "anonymous" enough and is primary used right now as an investment. Most people however think it is anonymous because they dont research.

[hdasd]

Its not that much anonymous anymore specially how governments wants the exchanges to give the data for tax reasons.

Bitcoin, an anonymous but not private transaction: There are no notes of personal information in his deal agreements, but every transaction traded in bitcoin is clear on the published electronic public books visible. This public account is what we know as the Bitcoin blockchain. The anonymity offered by Bitcoin is both a compelling feature and a challenge to financial regulation.

[gamechain]

As more people are getting into the space I think it is helpful to really understand bitcoin from a basic form. Let me know what you guys think.

Anonymous bitcoin:
1: Address generation without real name certification;
2: The address can not correspond to a real identity;
3: There is no association between different accounts of the same owner, and it is not possible to know the total amount of bitcoin for a specific user.