Bitcoin Forum
July 01, 2024, 02:12:54 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: bitcoin is transparent, solution?  (Read 311 times)
mk4
Legendary
*
Offline Offline

Activity: 2814
Merit: 3862


Paldo.io 🤖


View Profile
December 19, 2020, 06:25:57 AM
 #21

I use monero quite frequently, and the vast majority of the time it is the only coin I am holding other than bitcoin unless I need another one for a specific purpose or payment. I am under no illusion that it will most likely lose value in terms of bitcoin over time (although its price in USD has been increasing pretty steadily for the last 9 months or so), but that's not why I am holding it. I was spending bitcoin last year at $3k and I am spending it this year at $23k, as I am using it because of its technology, not because of its price. The same is true for my use of monero. If you are serious about looking to an altcoin for privacy technology then monero is the way to go, but its performance against bitcoin is the price you have to pay.

The other coins that have been mentioned are trash.

Totally get what you mean. My reply was more of as a quick note for the other readers that while Monero might be the best option to use right now for payments(obviously because of privacy), it doesn't necessarily mean that Monero would be the best option to hold most of your funds in.

█▀▀▀











█▄▄▄
▀▀▀▀▀▀▀▀▀▀▀
e
▄▄▄▄▄▄▄▄▄▄▄
█████████████
████████████▄███
██▐███████▄█████▀
█████████▄████▀
███▐████▄███▀
████▐██████▀
█████▀█████
███████████▄
████████████▄
██▄█████▀█████▄
▄█████████▀█████▀
███████████▀██▀
████▀█████████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
c.h.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀█











▄▄▄█
▄██████▄▄▄
█████████████▄▄
███████████████
███████████████
███████████████
███████████████
███░░█████████
███▌▐█████████
█████████████
███████████▀
██████████▀
████████▀
▀██▀▀
o_e_l_e_o
In memoriam
Legendary
*
Offline Offline

Activity: 2268
Merit: 18588


View Profile
December 19, 2020, 07:44:24 AM
 #22

I use im Token app for this.
If you are converting bitcoin to any other coin and back again using the same app, then your privacy is still at risk. The owners and developers of that app can still see exactly what you have done, will likely have kept logs which are open to being leaked or hacked, and may share that information with any number of third parties. This is true regardless of what coin you are swapping in to, even if you are using a privacy focused coin like monero, and certainly when you are using a token based on a centralized coin. The coin's features are irrelevant when using the same exchange for both trades.

If you want to do something like this in a secure manner, then you need to trade from BTC to XMR, move the XMR to another wallet (preferably in a number of smaller transactions over several hops rather than just one transaction sending everything), and then use a different service to swap the XMR back to BTC and send to a bran new BTC Wallet, and do all this over Tor.

it doesn't necessarily mean that Monero would be the best option to hold most of your funds in.
Yeah, agreed. I tend to only hold what I need for the near future in XMR, and buy more with BTC when I run low.
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!