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Author Topic: Learn from what is happening in the forum with address re-use  (Read 221 times)
Orpichukwu
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August 23, 2024, 10:12:03 PM
 #21

Its not a and thing to make use of new addresses each time we are about to make a transaction, but we can still maintain using a single one if we have perfect and secure use of the crypto transactions made as well as how we handle the use of our wallet, most of these loopholes begins when there is a vulnerability space created by us either we know about it or it occur without us been aware, and the aim is to attack us at any point.
And even if they start using a new address and don't know about the loophole, it won't be any different from the old and new address that the user will start using, and in most cases, if someone is making use of a wallet that gives them the right to multiple address usage sharing the same private key and seed phrase, if the first wallet is compromised, the second is also not safe. 
 
The only reason why I see and consider new address usage for each transaction is for privacy purposes, but if the person still can't protect their privacy, the new address can't serve the privacy purpose on its own.

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adultcrypto
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August 23, 2024, 10:48:03 PM
 #22

In a nutshell, address reuse helps your privacy and keeps everything clean.

Although you made your opinion very clear in your post, I think that you chose the wrong words in the last sentence.

I agree that not reusing addresses is the right thing to do for your privacy. Not in the case of investments, maybe, because if you hodl for speculation it may be of your interest to keep everything tidy in order to prove your ownership. But for little purchases etc. and taking into account the technical advances you mentioned above, using different addresses and implementing measures of coin control is an advice I also subscribe to.
From the tone of the post, his focus was to avoid account linking in the forum. This might be of top priority to the OP than the privacy that was added to the post and on the basis of privacy, reusing address depends on many factors. For instance, if you are buying bitcoin using the DCA method and you happen to be doing that with small capital but on a regular bases, you cannot afford to spread these little investments into different wallets since most wallets does not change like those of blockchain.com. The investor is constrained under this circumstance and I do not see any big deal in this as it just require being careful to protect the asset.

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goldkingcoiner
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August 23, 2024, 10:54:38 PM
 #23

Privacy is the goal of this evolving technology, and every form of privacy need to be implemented. Today I want to share the disadvantages of address re-use and remind everyone how crucial it is to generate fresh addresses for new transactions. A famous minor example happens in the forum every day, where accounts are linked to one another because of address re-use. While this won't affect our daily life, let's look into a real-life example.

Identity collapse is a process that links multiple Bitcoin addresses to one another through the Bitcoin transaction graph. The address makes the work easier for the operators. According to this wiki
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There are publically-known databases that exist, right now, that have not only collapsed millions of Bitcoin addresses, but used publically-available information to link those collapsed identities to individuals, and these databases are being actively maintained.

Another disadvantage of address re-use has a lot to do with face-to-face transactions. When you re-use an address a merchant will be able to know all your transactions input and output and may involve the bad gangs to attack you and retrieve your bitcoin.

In a nutshell, address reuse helps your privacy and keeps everything clean. Stay private everyone. The wiki above contains more examples of disadvantages of address re-use.

Add your knowledge.

You are confusing privacy with anonymity. It is a common mistake to make

Bitcoin was never meant to be anonymous. Although it can easily be; for example by using a mixer or swapping Bitcoin->Monero->Different Monero Address->Bitcoin. Although I do not recommend it.

You can still be identified by other markers - like if you send 10.2312355 Bitcoin and swap it back to another address as the same amount (who else is sending that exact amount to a single address? Probably only you~). Or if you pay with that address for a purchase which is connected to your bank account, E-Mail or even IP.

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