Is anonymity the future for bitcoin???

[vinc3]

As we can see each and every transaction for bitcoin is publicly registered to the blockchain where in all of us have access, so I am just thinking if anonymity or providing privacy will be the next move for bitcoin. Just my thoughts, you can add yours here and let's discuss it.

[1714885834]

1714885834

[1714885834]

1714885834

[1714885834]

1714885834

[supermine]

As we can see each and every transaction for bitcoin is publicly registered to the blockchain where in all of us have access, so I am just thinking if anonymity or providing privacy will be the next move for bitcoin. Just my thoughts, you can add yours here and let's discuss it.

I don't think the anonymity will be the only reason for the future of bitcoin,already we have the system and everybody know how it works so it will be like this forever so if someone concern about the anonymity then they need to use the bitcoin mixers which makes the bitcoin hard to be traced.In future anonymity is the reason for the usage cryptos then people won't pick the bitcoin there are some coins like Monero are available with high anonymity.

[First77]

anonymity will help hackers, scammers, criminals and terrorists also. If bitcoin helps tax evasion, bitcoin will get banned worldwide.

the owner of bitconnect.com got arrested in India for $13 billion ponzi scheme using bitcoins. So Bitcoin transactions are not anonymous.

[MadCryptoLover]

Anonymity is not good for our future. I think the main purpose of creating crypto currencies is to bring the transparency and giving the control of the funds to the user who owns it which is not possible in case of banks and other investments unless you keep fiat stashed in your house in which case value depreciates because of inflation.

People associate anonymity with their right of keeping their money/property safe from everyone and want to use it as a tool to avoid taxes too but if you expect good facilities and security from your government for yourself and for family, then why should not pay the fair taxes on time?

If anonymity is added to the bitcoin, then anyone can fund the terrorist/illegal activities without anyone knowing about it which may increase the crime rate/illegal activities. People will try to convert their properties/savings into btc so that they don't ave to pay taxes and capital gains. Governments will lose a substantial part of their funding and in reciprocation, many countries will ban the btc and its trading in the country and any even criminalize it to hold and trade bitcoins/crypto currencies.

So in my opinion, anonymity won't do any good for bitcoin and for traders/investors worldwide. This is my take on anonymity.

[Kakmakr]

There are some developers working on projects to make Bitcoin more anonymous, but it remains to be seen how people would react to it. I know for a fact some governments will not be happy with a more anonymous Bitcoin and they might even pull their support for it, if that happens.

If you want some anonymity, then try using the "Mixer" service that I currently have in my signature. It is fast and cheap and reliable. We do not need anonymity as part of Bitcoin's core protocol, because there is enough services out there to help you to increase your anonymity. 

[davis196]

Anonymity is the future of altcoins like monero.The future of bitcoin is in the mainstream adoption and having more people,corporations and countries recognising it as a reliable payment option and a good store of value.
Thinking that bitcoin transactions are anonymous is:
1.Wrong.
2.Helps for spreading FUD.

[Herbert2020]

... anonymity or providing privacy ...

these two are not the same thing. for example i may not be anonymous but i definitely have privacy when i am using bitcoin. for example when i pay for something online since the shop doesn't get my personal information they don't know who i am. and also an average Joe on the internet can not do in depth blockchain analysis on my transactions to see how much bitcoin i own and where i spend them or where they come from. and that's called privacy.

[Pursuer]

the way I see it is that bitcoin already has enough anonymity.  that that is more than enough. you say every transaction is public but even if I show you my address and transaction you still wouldn't be able to know who I am.
and this level of anonymity can even be considered a good thing if you ask me. if bitcoin was fully anonymous we may have had a lot more FUD and attacks against bitcoin. with this small level of anonymity they are still FUDing it and say it is being used for illegal activities when it is not, if there were more then they would have attacked it even more.

[ubay]

Anonymous, in my opinion, is just a situation where we can be careful of our identity or not, and in bitcoin we can make thousands of wallets at once which will make us difficult to track. But if you only use 1 wallet, the owner of the wallet will be revealed.

[aoluain]

Any sort of anonymity will be compromised as soon as people convert bitcoin
to FIAT and/or buy bitcoin with FIAT tgrough a centralised medium, bank or card.

Its not just the stereotypical criminals etc. Who would want the anonymity factor
there are others who would want it for personal reasons but the majority of
bitcoin users today  couldnt care about it i recon.

Its primarily the end game of "how much am i going to make"

[itssawai]

Recently we've seen bitcoin forks like Bitcoin Private and Bitcoin Anonymous providing privacy and anonymity features. Yes, it helps in keeping your transaction private but it's not really a step which will help in Bitcoin's future. Because of privacy, it will help hackers, fraudsters, and criminals to keep themselves safer and untraceable. World government is not yet ready for privacy coins and several big personalities rejected this features, like SocGen CEO and Bill Gates.

It may take some time when we see Anonymous and privacy coins becoming more prevalent but as of now, bitcoin has a better future for its current features and anonymity might hurt more than providing something good.

[Sevarchik]

Bitcoin is anonymous currency if you use it for direct transactions without exchanges with kyc.
While btc do not uses globally and all n exchanges

[NeuroticFish]

As we can see each and every transaction for bitcoin is publicly registered to the blockchain where in all of us have access, so I am just thinking if anonymity or providing privacy will be the next move for bitcoin. Just my thoughts, you can add yours here and let's discuss it.

A possible next step for Bitcoin is Schnorr signatures which may indeed add some more privacy. Unfortunately I don't really know more details and I didn't find yet a source easy to read and understand and still with all the information (but I just started digging).

[Wind_FURY]

OP, I believe not, not for a network as mature as Bitcoin. Changing the rules now to make it more "anonymous" and "private" would have consequences.

The Bitcoin blockchain's transparency has its advantages too. It proves, with our own eyes, and without trusting that some privacy technology "simply works", that the ledger is balanced and auditable.

Adding more anonymity and privacy might also attract government agencies to discourage it more, or make more unfavorable laws against using it.

Plus if the Core developers truly wanted a more "private Bitcoin", then maybe do it off-chain, in the Lightning Network. But leave the blockchain alone.

[jagdeepjd]

As we can see each and every transaction for bitcoin is publicly registered to the blockchain where in all of us have access, so I am just thinking if anonymity or providing privacy will be the next move for bitcoin. Just my thoughts, you can add yours here and let's discuss it.

Anonymity is not a concern for bitcoin at the moment and there is other better option already available for private transactions. Next move for bitcoin will be the more precise scalability so that the network does not get congested when demands get high. Also to reduce the transaction fees as low as possible.

[TranslateME]

As we can see each and every transaction for bitcoin is publicly registered to the blockchain where in all of us have access, so I am just thinking if anonymity or providing privacy will be the next move for bitcoin. Just my thoughts, you can add yours here and let's discuss it.

Anonymity is certainly a point in Bitcoin's favour, but at what point does anonymity become a novelty? At the end of the day, unless you are involved with something shady, anonymity doesn't really matter, does it? Although, on principal, it is a good and noble feature.

[First77]

Bitcoin has a future as digital asset/investments and digital currency which will be regulated just like other assets and investments

[Wind_FURY]

I believe the latest bug, that would have made an "attacking miner" inflate the coin supply, proves that the Bitcoin's transparency and auditability on the base layer is the best.

If a hacker exploited a bug that would inflate the coin supply of a "private blockchain", how would the developers tell if there were 1 coin or 1 billion coins inflated in the total supply?

[Herbert2020]

I believe the latest bug, that would have made an "attacking miner" inflate the coin supply, proves that the Bitcoin's transparency and auditability on the base layer is the best.

If a hacker exploited a bug that would inflate the coin supply of a "private blockchain", how would the developers tell if there were 1 coin or 1 billion coins inflated in the total supply?

this is entirely off-topic here since it has nothing to do with the anonymity subject being discussed.

as for the "attack", don't forget that any block that used this vulnerability would have been an invalid block. the problem was simply that certain versions of bitcoin core nodes were not verifying blocks for detecting this particular problem so they accepted it as valid. but that  doesn't make the supply inflate, it just made those nodes go on a fork and start an altcoin.

[Binugon]

As we can see each and every transaction for bitcoin is publicly registered to the blockchain where in all of us have access, so I am just thinking if anonymity or providing privacy will be the next move for bitcoin. Just my thoughts, you can add yours here and let's discuss it.

With this anonymous account, there are many concerns in some countries in the world to ban cryptocurrency because they have the opportunity to commit criminal acts, this is the reason for many countries that prohibit cryptocurrency, even though they record every transaction on the blockchain but cannot find out their true identity.