Bitcoin and privacy!!!

[suzanne5223]

I don't think data leaks can expose anonymity unless they hack the exchanges for personal details, but i think those guys are only after the coins. Anyone who wants privacy will simply use monero or other similar coins instead

Due to your reply I believed you don't have the knowledge of data because with the exclusion of exchang been hack for users personal information once someone data(information) is leaked then such person anonymity is exposed cause there people who a good in using it to track down.

[mmo4me.2016]

Bitcoin is not as private as everyone else is thinking, Bitcoin is private when you have not sold or transferred it to someone, If you make a transaction, most likely someone knows who you are!

[zeref dragneel]

if a hacker targets an account that would be a problem for the perticular user.because though we are depending on blockchain that actually hackable.but i am not telling that its weak.its atleast that strong that a hacker need to waste his 1 month to get a way.

[Kakmakr]

Satoshi created Bitcoin to be pseudo anonymous to grant people enough anonymity to keep their financial matters private. So, by not re-using Bitcoin addresses, people will be able to protect their financial privacy. <You do not want someone to know how much money you have, when you pay for some service with your Bitcoin address, right?>

Bitcoin does not offer you more anonymity than what you are granted with cash and that is exactly what Satoshi wanted, when he created this technology.

If you want more anonymity, use mixer services. 

You are right, it is offering much less anonymity than cash, not all my cash transactions get to be visible in a public ledger.

I support the view of the OP that the current level of pseudonymity is not satisfactory, that with every transaction you leak vital personal data like the IP addresses, KYC records, even CCTV footages. For a dedicated individual or a group with enough time and other resources to deeply analyse the blockchain and link it with other records it may be possible to get a close to exact picture of all your transactions, your account balances etc.

https://www.chainalysis.com/ has recently done some research on Whales and they extracted detailed information on how many whales are hoarders and how many are actually active traders etc. These companies do not need CCTV footage, they simply use sophisticated forensic software to analyse data on the Blockchain.

The whales are the prime targets for hackers and they need added protection to hide their wealth from these attackers.   This is one reason why anonymity is very important.

[Dylan Bargeman]

Having a payment system with a public ledger has its advantages, too: Imagine a world where Bitcoin is everywhere, and all payments of all governments are in the public domain... Full accountability!
Privacy for the layperson is important, though. So the solution Bitcoin needs to find, will have to balance those two sides. Not an easy task, but I'm sure the devs are well aware of that.
In the meantime you can use Monero.

[alternatyomega]

Bitcoin will be improved and upgraded to be suitable for use in the future to help investors feel secure with their investment.

[Camilla Gill]

Maybe it’s best if there is the "right" level of privacy. So that privacy is the default for small amounts and everyday transfers but with agency style effort it is still possible to track a few larger transactions. I have a feeling people might not be ready for total privacy yet.
Whatever your view on the "right" level of privacy might be, think about what level will rise in value the most. Probably something in between Bitcoin and Monero. Bitcoin (Lightning) with some privacy improvements should come close to the sweet spot.

[SpiderDS]

In my opinion, Bitcoin is an evil cryptocurrency that requires a great deal of privacy. Bitcoin is a big worthy currency in the crypto market, which can earn a lot of money. And most importantly, security is needed in each of our cases. In order to know how to use Bitcoin, privacy is very important. The rate at which the hackers are increasing, the privacy of the issue has become very important in our lives.So bitcoin and privacy are related to each others.

[SuicidalDemon69]

As of my knowledge, only transactions are getting viewed in Blockchain. The uniqueness of blockchain is that you can view all of the funds of a certain people if you know what are there addresses or transactions. Scammers are easily tracked because of this technology. In my country, if the wallet has been hacked or the wallet used in Modus Operandi scheme, you can report it and the wallet will be locked. The blockchain technology serves as incorruptible wallet that should be implemented in the Government as a public ledger so that the officials will get rid of corruption. I've started a topic about this but nobody replies on my thread. Maybe it's uninteresting.

[supporterb]

One of the prominent feature of bitcoin is it ability to hide the identity of it users and that is why it is term decentralized which never need the involvement of any third party. And I think it will remain like that even in the future.

Yeah hopefully Bitcoin's high security will remain in future. We can use Bitcoin without losing our private information and by this we don't need to worry about our transactions history.

I just want to say that bitcoin with a decentralized system is the most efficient system. If talking about an increase in the secret blockchain system, I think it will go hand in hand with the development of time and technology in the future.

Decentralize system is very effective system for cryptocurrency. I'm very surprise to know that Bitcoin is not a decentralized crypto system. But I will be very glad if they update it in future .

[SistaFista]

Bitcoin has paved the way for a number of decentralized blockchain systems. Among them, cryptocurrencies are especially prevalent. But, there are still a lot of functionalities that are yet to be implemented. The most basic use case is that of a secure transaction without the need for a centralized authority. Bitcoin implemented it, with one major catch and that is privacy. Don't we all crave privacy?

Originally, Bitcoin network was thought to be anonymous. Everybody felt secure believing that no one could ever recognize them. Later, it was found that it was not the case. The difficulty was public ledger that was accessible by everyone to go through. It contains all the private records. This unbolted the way for a lot of cyber hackers to extract information making it less secure. Also, anonymity was compromised due to the data leaks. Once identity is known of a Bitcoin user, anyone can go through his past and possible future transactions.

In the light of above explanation, should Bitcoin be upgraded by a confidential blockchain system which is scalable too?

Well, i believe that satoshi was creating bitcoin so that bitcoin will become a global currency in the world.
If bitcoin want to become a global currency, it will need to become public so it can be adopted by peoples around the world.
But this is only my opinion. If you want using crypto with high privacy, i recommend to use monero.

[kwakgyimah]

 All cryptocurrencies are running on the ever popular blockchain technology. Piracy cannot easily be classified or quantified in the world of cryptocurrency.  I believe the world of crypto  has been affected by scams which is affecting the the progress of bitcoin. I think some regulations can be put in place to protect the value of bitcoin.

[Menawi12]

Bitcoin can be upgraded to be privacy coin but i think it will affecting on the price. Bitcoin already known as anonymous coin and as store of value. Right now many altcoin have more feature than bitcoin but as store of value, bitcoin more trusted

[gesdan]

as i know bitcoin and all platform that use blockchain system have the high security, and of course, in the privacy, we can see that the transaction that we made from bitcoin us anonymously, and we can see that when we create the new wallet we don't need to send our identity right? i thin bitcoin and blockchain system is the most secure

[biskitop]

I think if I don't distribute private keys to phishing sites, I think it's still safe. but it must be admitted, the security of this system must be increased again. especially when the market exchange can be hacked.

[inanilujimi]

if you want bitcoin more anonymously why not just use  mixer or anonymous altcoins, then I think everything you want will be fulfilled.

[wongdeso]

Indeed, maintaining security is necessary and mandatory, it should indeed be anonymous bitcoin. But the more people join, the more people want to know something from the holder, so security starts to be disturbed, so to overcome this, we need to save the data safely which will be able to disturb our security.

[Al-e_x]

yes, the security of bitcoin transactions must have double security, but at least anonymous bitcoin can avoid any dark network hacking.

the hacker will go to the core ledger, and then use each block. but that is difficult. only some hackers can do it.

[Hira1995]

Bitcoin is a confidential site because it has the power to keep its users identity confidential and does not require a third party to work here. That is why Bitcoin accounts are protected from hackers. I think Bitcoin will also protect its privacy in the future.