Bitcoin Forum
May 21, 2024, 08:27:07 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Why is bitcoin not anonymous?  (Read 401 times)
Stedsm
Legendary
*
Offline Offline

Activity: 3052
Merit: 1273



View Profile
June 02, 2020, 10:29:49 PM
 #21

Bitcoin is not anonymous so not to allow hackers hack your coins and get away with them through exchanges by dumping those coins on innocent people's money.

I believe your Bitcoins are anonymous until:
- You buy BTC through credit card
- You yourself allow to break your identity by revealing your address you used and giving the transaction ID to prove that it's yours
- You sign a message
- You use an exchange to trade, be it with or without KYC
- You send your BTC to any local person you're dealing with

So, unless you have your money remaining in BTC for a long time and you decide not to move it, or just mix them and move it to a number of addresses and keep them aside, you are safe and anonymous.

██████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
██████████████████████
.SHUFFLE.COM..███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
█████████████████████
████████████████████
██████████████████████
████████████████████
██████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
██████████████████████
██████████████████████
██████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
.
...Next Generation Crypto Casino...
Csmiami
Copper Member
Legendary
*
Offline Offline

Activity: 1596
Merit: 1323


I'm sometimes known as "miniadmin"


View Profile WWW
June 02, 2020, 10:33:23 PM
 #22

Bitcoin is not anonymous so not to allow hackers hack your coins and get away with them through exchanges by dumping those coins on innocent people's money.
And how exactly are hackers not hacking peoples' coins and then dumping them?

Lachrymose
Hero Member
*****
Offline Offline

Activity: 1344
Merit: 967



View Profile
June 02, 2020, 11:02:54 PM
 #23

Privacy is not one of the main features of Bitcoin, but it can be an extra feature thanks to in a variety of ways (f.e; CoinJoin, traditional mixers etc). As an investor, all I want is that no one can interfere with my money.  I can't even use PayPal because it was banned by the government. Don't give a fuck, use BTC.
Stedsm
Legendary
*
Offline Offline

Activity: 3052
Merit: 1273



View Profile
June 02, 2020, 11:06:42 PM
 #24

Bitcoin is not anonymous so not to allow hackers hack your coins and get away with them through exchanges by dumping those coins on innocent people's money.
And how exactly are hackers not hacking peoples' coins and then dumping them?

By simply buying it low and sell it with full pressure (I'm talking about whales who are considered hackers in my thinking because they hack the markets by moving it towards the way they want to, and earn a lot of money doing all that shit). Another way the real hackers go through, is by looting exchanges and going for OTC deals where some big whales get trapped by these thieves.

██████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
██████████████████████
.SHUFFLE.COM..███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
█████████████████████
████████████████████
██████████████████████
████████████████████
██████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
██████████████████████
██████████████████████
██████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
.
...Next Generation Crypto Casino...
jseverson
Hero Member
*****
Offline Offline

Activity: 1834
Merit: 759


View Profile
June 03, 2020, 03:14:14 AM
 #25

Satoshi was simply a genius. By creating a pseudonymous coin, he/they created a coin in a friendly way in regards with the authorities - a coin that would not instantly become a state's enemy.

It did work out well, but I don't think it's a primary consideration. According to the white paper:

We   need   a   way   for   the   payee   to   know   that   the   previous   owners   did   not   sign   any   earlier transactions.   For our purposes, the earliest transaction is the one that counts, so we don't care about later attempts to double-spend.  The only way to confirm the absence of a transaction is to be aware of all transactions.  In the mint based model, the mint was aware of all transactions and decided   which   arrived   first.    To  accomplish   this   without   a   trusted   party,   transactions   must   be publicly announced, and we need a system for participants to agree on a single history of theorder in which they were received.  The payee needs proof that at the time of each transaction, the majority of nodes agreed it was the first received.

If we want to be completely specific, this is the reason why Bitcoin isn't anonymous.

Apostlekin$$$
Member
**
Offline Offline

Activity: 238
Merit: 17

Sovryn - Brings DeFi to Bitcoin


View Profile
June 03, 2020, 12:44:52 PM
 #26

If the creator of Bitcoin Satashi Nakamato created it as an anonymous currency, why does everyone say that it is not anonymous?
Bitcoin is not anonymous, but decentralized? YES,  Bitcoin was never built to have such feature, you can only see anonymous features in privacy coins like Monero, Sero project, Zcash, Komodo, Verge etc

If you really want to go anonymous using Bitcoin then I suggest you do some research on Bitcoin Mixer

gentlemand
Legendary
*
Offline Offline

Activity: 2590
Merit: 3013


Welt Am Draht


View Profile
June 03, 2020, 01:41:50 PM
 #27

If Bitcoin were are impenetrable as Monero I'm pretty certain it would not have been allowed to flourish in the way it has by governments. We'll see a point where all proper privacy coins aren't allowed anywhere near regulated exchanges. Coinbase's latest UK banking partner made getting rid of Zcash a condition of them coming on board and that's not even that convincingly private. 

I wonder whether Satoshi consciously made complete privacy something you have to work at or he couldn't be arsed to add it or decided it was someone else's problem in future. P2P cash without the total anonymity that cash has seems quite an oversight.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!