Creating a balance between transparency and privacy in Bitcoin.

[Solodoski]

I dont know much as we all learn everyday. With the little I know I would love to share with you all. I am simply open to corrections and criticisms anyway.

Briefly I am driving my focus towards privacy and transparency. I believe they both ave a strength and a weakness. Transparency in Bitcoin ensures every can verify the circulated supply of bitcoin, see transactions history, and analyses the blockchain. But it create a space for privacy to be limited. Anyone can trace your wallet to know your balance if they know your address, whales and big investors can be targeted and trace down due to the large holdings in bitcoin and so on.

And if we say we adapt full privacy by using bitcoin mixers the government still has an issue with it. The current regulation has a soft spot for mixers but I wont forget how they labelled them to be tools that supports money laundering and embezzlement.

TO EVERYONE, HOW CAN WE CREATE A BALANCE BETWEEN TRANSPARENCY AND PRIVACY IN BITCOIN?

[Callido]

Anyone can trace your wallet to know your balance if they know your address, whales and big investors can be targeted and trace down due to the large holdings in bitcoin and so on.

Firstly, why make your wallet address public? If you have any BTC address that has gone public, do not reuse for your holding. Our identities are not crested in our wallet address, if you don't make your address known to people, it's always a mystery to who owns whatever amount in holding.

And if we say we adapt full privacy by using bitcoin mixers the government still has an issue with it. The current regulation has a soft spot for mixers but I wont forget how they labelled them to be tools that supports money laundering and embezzlement.

TO EVERYONE, HOW CAN WE CREATE A BALANCE BETWEEN TRANSPARENCY AND PRIVACY IN BITCOIN?

This is similar to a thread i created not long ago Public wallets & personal wallets coverage.. It covers about privacy and exposure of address, if it affects our identity.

[MainIbem]

Anyone can trace your wallet to know your balance if they know your address, whales and big investors can be targeted and trace down due to the large holdings in bitcoin and so on.

Firstly, why make your wallet address public? If you have any BTC address that has gone public, do not reuse for your holding. Our identities are not crested in our wallet address, if you don't make your address known to people, it's always a mystery to who owns whatever amount in holding.

Exactly, Satoshi is sensible enough to know that such may likely occur so i believe that why he made the wallet address in a way that no name would be attached to it for security reasons which makes lots of sense, therefore anyone who exposes their address to the public, knowing fully well that their wallet can be traced have themselves to blame if folks trace their balance and post it on the media for people to know their worth, if you want full privacy then it's best to keep your address private, anyways people who are in campaigns here are out if the group chat 

[SmartGold01]

That is why you have to remain anonymous, which includes trading your bitcoin on a decentralized exchange than centralized exchange with this you could be hard to track. Again, to privacy, you must avoid relating your public address to where people could easily know is you such as; not posting them on your social handles or, and even if you would have to post them on those social then you must mind how you post yourself or showcase yourself over there. If you look very well, almost about 70-99 percent of people over here doesn't make accounts with their real names over here, rather than they choose names that doesn't relates or correlates with their origin names, with this you can 100 percent maintain privacy and even if your public address is posted over here they would know who is the real owners except it is tracked to the exchange where you do trade your bitcoin and could write to the exchange to reveal the real owner if they suspected any AML, then the exchange could freeze your account while the investigation are ongoing.. When you talks about transparency, I believe whatever transaction you performed on the bitcoin blockchain could be easily track to know whether the real amount has been transacted or not, and you could monitor everyone who carried out transaction and it could be very hard for people cheat or steal from another for those that knows themselves.