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darewaller
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April 03, 2020, 05:47:20 PM
 #41

Just like someone said here you can make use of crypto coin mixers to increase the privacy of your coin. There are some coins that might have been used for some bad activities online or maybe stolen and gotten through hacks; if you receive such a coin in your wallet, and send to an exchange wallet they might block your account and try to question you on how you received such a coin.

I have seen someone make such a complaint here in this forum on how the exchange that he has been making use of for long locked up his account saying that the coins he received can be traced to some bad activities. In this kind of situation I think coin mixers can help, but you don't experience such lol.


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April 03, 2020, 11:57:22 PM
 #42

Blockchain aimed  to go anonymous so people would have freedom financially
Looks like you have misunderstood what blockchain is, if you have a public ledger that records each and every transaction that cannot be changed how can you call it anonymous, financial freedom and privacy are two different things entirely Tongue.

Privacy provides freedom, but Countries citizen fight against freedom of speech and forgot that speech will not give wealth financially, We Are and must fight against financial freedom in a modern way as Blockchain do until we all involve in Bitcoin and general cryptocurrencies.
You can have a certain level of privacy when you are storing your savings in BTCitcoin but once you plan to cash out then your privacy is compromised as the government will enforce all the exchanges to comply with KYC AML rules or they will face legal consequences and will be forced to shut down.

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April 04, 2020, 09:13:52 AM
 #43

I think what their governments are trying to exercise is their governance in this type of industry at the same time protecting those who transact and who you will be transacting with.
If you think the government want to monitor crypto trades and transaction for any reason other than they want a slice of the cake and they want to make sure people are paying the ridiculous taxes they have set, you are kidding yourself. Government invasion in your privacy has less than nothing to do with protecting individuals, and everything to do with lining their own pockets.

I think it’s important that as a user of bitcoins you are able to preserve your privacy at the same time, give just enough information so that activities will be monitored.
Absolutely disagree. The whole point of bitcoin is that you can make transactions without relying on third parties. Why should I be giving out personal information freely to help governments monitor me, when I can quite happily make transactions without doing any of that? If you want your government to spy on you and keep a record of everything that you buy and sell, then you might as well stick to fiat.

The state provides for cases when it has the right to interfere in our privacy and intrude on our privacy and restrict it if it considers that individual citizens abuse their rights and have caused or may harm the interests of the state or individual citizen.
If you have committed some horrendous crime, then sure, the state can invade your privacy to gather evidence. However, that's not what is happening. The state is invading everybody's privacy under the false guise of "stopping the terrorists" or some other such nonsense.

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April 04, 2020, 03:03:35 PM
 #44

There was a time where  Bitcoins transactions were thought to be super private
No there wasn't. Bitcoin has never been anonymous.

One can actually trace the address and if a person uses the same address a lot of times it is really not hard at all to connect it to an identity because of the KYC that now every wallet needs .
Every wallet? What are you talking about? If your wallet requires you to complete KYC, then you are either using the worst-of-the-worst (and probably a scam), or you are not using a wallet at all. The only thing that requires KYC is an account on a centralized exchange, which is categorically not a wallet, and if you are storing your coins there long-term then you at high risk of losing them all. Any good hardware wallet, software wallet, paper wallet, mobile app, etc., does not require KYC or even an email address to use.

Further, any good hardware or software wallet will automatically generate a new address for each receiving transaction and a new address for each change output to prevent address reuse. If your wallet doesn't do this, again, you should change wallet.

Totally agree with you
The main thing is to choose a good wallet, and there will be no problems with security and anonymity
Which wallet are you using?
I have been using CoinsBank for 3 years, and there has been no reason to regret my choice so far
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April 04, 2020, 04:58:53 PM
 #45

The main thing is to choose a good wallet, and there will be no problems with security and anonymity
A good wallet will keep your coins secure, but there is a lot more to staying anonymous than simply picking a good wallet. While the correct wallet is necessary to stay anonymous, it is not the only factor. If you use a web wallet you will never be anonymous. If you run your own full node you could potentially be anonymous, but not without taking further steps and precautions.

Which wallet are you using?
A variety of wallets, holding different amounts of bitcoin, some of which I access daily, and some of which I haven't accessed in several years.

I have been using CoinsBank for 3 years, and there has been no reason to regret my choice so far
CoinsBank is a custodial web wallet, meaning they hold all your private keys, can watch all your addresses, and can see all your transaction. It is neither secure nor private.

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April 04, 2020, 07:28:08 PM
 #46

I think BTC's  main policy is anonymous transaction, i like it and some how good for me for invest. I really don’t want to share who sent me that's my privacy           

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April 04, 2020, 08:01:58 PM
 #47

The rule of Government on freedom of speech varies from country but we still have the universal but the financial freedom sometimes breaks the security of the country if not controlled. No absolute privacy in bitcoin and thats more reason we see relaxed law against the use in the top countries. Its more reason we see fewer projects going into privacy coin because it is not as attractive as it used to, we have enough of privacy coin and could see tougher restrictions.

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April 05, 2020, 09:49:39 AM
 #48

I think BTC's  main policy is anonymous transaction, i like it and some how good for me for invest. I really don’t want to share who sent me that's my privacy           
If you reread the past few posts before yours, you should realize that bitcoin is pseudonymous at best. You should use it, not invest only. While you're on it, read some book about money to understand why bitcoin is an alternative for sound money.

Its more reason we see fewer projects going into privacy coin because it is not as attractive as it used to, we have enough of privacy coin and could see tougher restrictions.
There will always be a new project claiming that they're the best because this and that, but we all know all of that happens because it can create some money for the team. Nothing's going to stop them as long as there's a bunch of people who're interested in that matter.


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coolcoinz
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April 05, 2020, 10:42:49 AM
 #49

The rule of Government on freedom of speech varies from country but we still have the universal but the financial freedom sometimes breaks the security of the country if not controlled. No absolute privacy in bitcoin and thats more reason we see relaxed law against the use in the top countries. Its more reason we see fewer projects going into privacy coin because it is not as attractive as it used to, we have enough of privacy coin and could see tougher restrictions.

I can't believe some people want more restrictions for cryptocurrencies. Are you crazy? Cryptocurrencies are already being pounded left and right by KYC and other stupid "money laondering rules". They used to say cryptocurrencies have nothing to do with money, but when it comes to money laundering, suddenly they fit the profile.

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mikeauerbach
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April 06, 2020, 08:31:17 AM
 #50

Never use the same Bitcoin address twice, find a reliable mixer. 
ykropchik80
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April 06, 2020, 11:48:26 AM
 #51

The main thing is to choose a good wallet, and there will be no problems with security and anonymity
A good wallet will keep your coins secure, but there is a lot more to staying anonymous than simply picking a good wallet. While the correct wallet is necessary to stay anonymous, it is not the only factor. If you use a web wallet you will never be anonymous. If you run your own full node you could potentially be anonymous, but not without taking further steps and precautions.

Which wallet are you using?
A variety of wallets, holding different amounts of bitcoin, some of which I access daily, and some of which I haven't accessed in several years.

I have been using CoinsBank for 3 years, and there has been no reason to regret my choice so far
CoinsBank is a custodial web wallet, meaning they hold all your private keys, can watch all your addresses, and can see all your transaction. It is neither secure nor private.
CoinsBank sees my transactions and addresses, because I spend my transactions through them
And I do not see this as a problem
And anonymity is only possible when you use cryptocurrency
In the case of using fiats, then everyone will show their data
o_e_l_e_o
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April 06, 2020, 12:35:19 PM
 #52

CoinsBank sees my transactions and addresses, because I spend my transactions through them
And I do not see this as a problem
Well, as long as you are aware that CoinsBank record everything they can about you, from your real name, address, date of birth, IP addresses, etc., through to your crypto addresses, transactions, and holdings, and share that information with governments, law enforcement, marketing companies, third party merchants, banks, data harvesting and processing companies, and anyone else they like, as per their exhaustive privacy policy here: https://coinsbank.com/privacy.

I will never understand people who don't have a problem with such a complete and total invasion of their privacy.

And anonymity is only possible when you use cryptocurrency
In the case of using fiats, then everyone will show their data
Anonymity is only possible if you use cryptocurrency in the correct way to give yourself anonymity. The way you use cryptocurrency - via a third party custodial web wallet who shares or sells your data to anyone they like - gives you less privacy than if you used fiat.

Meowth05
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April 07, 2020, 06:19:18 AM
 #53

The reason for th e KYC is to prevent the chances that there is a money laundering scheme that is going to happen. Privacy has been the key feature of bitcoin so removing it defeats its purpose.

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April 07, 2020, 08:13:35 AM
 #54

I think everything with an advantage in some way has its own disadvantage. If we are all given privacy and to make use of Blockchain and cryptocurrency and do the way we want, trust me, there are lots of bad people that are going to take this advantage to ruin everything.

We have not even had such freedom and some people are already out there and ruining the name of Bitcoin. If only that there could be a way to punish those that are using it for bad, I will be very happy. Just recently some hackers have hacked the computer of a hospital in L.A and demanding that payments be made in Bitcoin before they release the computer.

Please tell me, what are people going to think when they see that those hackers are demanding for Bitcoin as payment? They will start saying that bitcoin is a currency used by thieves. Sometimes, having full privacy is not really good idea.

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April 07, 2020, 10:13:12 AM
Merited by ETFbitcoin (1)
 #55

Please tell me, what are people going to think when they see that those hackers are demanding for Bitcoin as payment? They will start saying that bitcoin is a currency used by thieves.
If bitcoin couldn't be used for illegal activities, then it would neither be a currency nor censorship resistant. The day you start freezing address or seizing control of bitcoin which you think have been used by criminals is the day that bitcoin dies, and becomes just another centralized scam coin.

There will always be criminals who abuse any piece of technology for illegal purposes. It doesn't mean we should ban or otherwise clamp down on said technology. Hackers use the internet to attack people, terrorists use mobile phones to communicate with each other, armed robbers use cars as get-away vehicles, etc. Should we ban or restrict all of these things? Obviously not.

Fiat is used for more criminal and illegal activity that bitcoin will ever be, by several orders of magnitude. Bitcoin is a lousy method to use for illegal purposes, precisely because the blockchain is public and anyone can trace the movement of stolen or otherwise tainted bitcoin. Criminals favor cash, which is truly untraceable.

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April 07, 2020, 11:13:28 AM
Merited by o_e_l_e_o (1)
 #56

Please tell me, what are people going to think when they see that those hackers are demanding for Bitcoin as payment? They will start saying that bitcoin is a currency used by thieves. Sometimes, having full privacy is not really good idea.

Bitcoin is just a "tool", it can be used for good or bad purpose depending on who use them. Many research state that only minority of Bitcoin or Bitcoin transaction is linked with criminal activity, example https://blog.chainalysis.com/reports/cryptocurrency-crime-2020-report

Besides, Bitcoin isn't really suitable for privacy-focused tasks due to it's pseudonymous nature. Cash is better option.

FanatMonet
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April 07, 2020, 11:32:11 AM
 #57

Dudes, when you talk about some kind of anonymity, remember at least the story of the Silk Road. If you really need by from the power structures, they will find you, at least that you use. So just relax and enjoy life, and don’t do illegal things.

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CarnagexD
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April 07, 2020, 11:52:59 AM
 #58

If you are in the country that is already implemented the use of the bitcoin they are not against it instead they are limiting the transaction for receiving and sending of the funds also they need to require the kyc to avoid getting some trouble if there is a scamming happens on both parties also if you want you can also use the mixer to avoid getting detected on your every transaction if you want. Also, you can use the different wallets that do not have kyc because still they are supporting the use of the wallet even does not require your information also it is quite good too to manipulate your funds and not getting detected easily.

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ykropchik80
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April 07, 2020, 12:05:09 PM
 #59

CoinsBank sees my transactions and addresses, because I spend my transactions through them
And I do not see this as a problem
Well, as long as you are aware that CoinsBank record everything they can about you, from your real name, address, date of birth, IP addresses, etc., through to your crypto addresses, transactions, and holdings, and share that information with governments, law enforcement, marketing companies, third party merchants, banks, data harvesting and processing companies, and anyone else they like, as per their exhaustive privacy policy here: https://coinsbank.com/privacy.

I will never understand people who don't have a problem with such a complete and total invasion of their privacy.

And anonymity is only possible when you use cryptocurrency
In the case of using fiats, then everyone will show their data
Anonymity is only possible if you use cryptocurrency in the correct way to give yourself anonymity. The way you use cryptocurrency - via a third party custodial web wallet who shares or sells your data to anyone they like - gives you less privacy than if you used fiat.
If you think that in the modern world it is possible to remain anonymous 100%, then you are greatly mistaken. And working with cryptocurrency is no exception
At the moment, CoinsBank suits me and for 3 years they didn’t give me reason to doubt, transactions take place without delays, I am satisfied
Ridwan Fauzi
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April 07, 2020, 12:47:01 PM
 #60

All people can track bitcoin transaction, even if you need to make a transaction anynomously I'll suggest to choose money fiat to do it, I mean using money paper not digital money like in your bank account. There is missconception against bitcoin anynomity. Because in the fact, there are a lot poeple who consider that transaction using bitcoin is can't be tracked by people and it was wrong unless you use bitcoin mixer (although there is many cases where bitcoin mixing service failed to do that).


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