Does Bitcoin really gives privacy?

[Btcdeybodi]

I have been doubting about the privacy of Bitcoin recently after I scanned the wallet address of a reputable member in the forum and saw the huge amount he is holding and I begin to wonder why the block chain explorer have to show so much details about someone's wallet address, can't it just be in a way that you can see the amount that was transacted without knowing the total amount in that wallet. It became a concern to me because despite the anonymous nature of the forum, people can still track how much you are holding especially those who knows you in the forum. Isn't that a security threat?

[promise444c5]

I have been doubting about the privacy of Bitcoin recently after I scanned the wallet address of a reputable member in the forum and saw the huge amount he is holding and I begin to wonder why the block chain explorer have to show so much details about someone's wallet address, can't it just be in a way that you can see the amount that was transacted without knowing the total amount in that wallet. It became a concern to me because despite the anonymous nature of the forum, people can still track how much you are holding especially those who knows you in the forum. Isn't that a security threat?

Do you know/have you seen the particular member in reality unless he/she lacks good OPSEC
But at the same time, i don’t know the total figures  you were able to trace yet , it could mean alot like ,the owner doesnt care much about  privacy of linking the address to his/her  account or thats just small out of his/her fortune in BTC or it’s another person address you traced (if not proofed as owner) or.. it could be just have alot of possible meaning ..

That’s how Bitcoin works anyway , alot of address owners  still remains hidden to the public till date, some holds Millions and even billions yet no one can trace their identity…it just depends how you want to handle your privacy . Imo, there’s nothing to doubt , afterall it just the address balance that get known to the public.

[Charles-Tim]

If bitcoin is like monero, it will not have the adoption it has today.

You will need to learn how to have privacy if you want to hold bitcoin. There are mixers and noncustodial privacy exchanges that you can use to help yourself to block the trace.

This is the best approach:
The best and which is the best is to be accessing this forum with Tor. Also access your wallet with Tor. Do not let anyone know your physical identity.

[Africolo]

I have been doubting about the privacy of Bitcoin recently after I scanned the wallet address of a reputable member in the forum and saw the huge amount he is holding and I begin to wonder why the block chain explorer have to show so much details about someone's wallet address, can't it just be in a way that you can see the amount that was transacted without knowing the total amount in that wallet. It became a concern to me because despite the anonymous nature of the forum, people can still track how much you are holding especially those who knows you in the forum. Isn't that a security threat?

No direct identity names attached to the addresses.

No use of ID before creating a wallet, Bitcoin transactions are anonymous and it's operates on a pseudonymous blockchain, the transactions are publicly recorded, traceable but it doesn't link to real life identity.

You can't prove that they owns those money you saw in those wallets cause they have no link to their real life identity so yes Bitcoin is anonymous if it's well used.

[Nheer]

Well just as Bitcoin support privacy and anonymity it is also transparent to ensure integrity of the network. Transparency can pose a threat to users as you have mentioned if they don't improve their privacy level. There are several ways one can improve privacy so it's the responsibility of the users to do that and I believe most of the members address you see doesn't link directly to their real identity.

Generating new address for every transaction will make it difficult to trace back to you, it will help protect your real identity. It's like using a new device for each transaction, it makes it harder for others to track your activities. Also just as Charles Tim said using Tor when assessing platforms linked to your Bitcoin address can add an extra layer of privacy, It helps mask your IP address making it more difficult for others to identify you.

By combining these strategies you can improve your online security and anonymity.

[Hewlet]

The transparency of bitcoin allows it to be so such that a third party can have access to the amount of asset you are holding even though he can not have access to stealing the persons fund as long as the person does not allow his privacy to be easily broken into. it does not look right to allow your wallet address to be easily known even though it is not directly linked to your real identity.

hackers and theft can go to any length just to steal from people or get the real identity of an individual so, for the sake of safety, it is best that the address you are using to hold your asset should be hidden if possible and kept out of the reach of people that you know can in onw way or the other trace your identity.
 

[Marykeller]

That's Bitcoin transparency at its cost. Whatever transaction or amount held is not hidden from anyone to check on, if the wallet address is provided.

Does that reveal the ID of the person with the wallet provided? No, you would say. That still makes the person remain anonymous. That's why you see the government and some crypto exchanges asking for your ID to gain full access to crypto assets on their crypto platforms because with your wallet address only, they can't trace you, in case of any illegal crypto dealings from your side.

[Pi-network314159]

You will need to learn how to have privacy if you want to hold bitcoin. There are mixers and noncustodial privacy exchanges that you can use to help yourself to block the trace.

I have equally thought about what op said long time ago and I believe it to be true, so if without using this mixer and noncustodial privacy exchange to hide our Bitcoin transaction, then Bitcoin has no privacy. Except the privacy we are talking about is using mixer. But apart from using this mixer to hide traces of Bitcoin transaction then Bitcoin has no privacy. There was a time a friend of mine  accessed my BTC address and told me exactly the amount I have been receiving in this forum, meaning I have no privacy too. I believe that is the part op is talking about privacy. Since everything is stored in the Blockchain.

This is the best approach:
The best and which is the best is to be accessing this forum with Tor. Also access your wallet with Tor. Do not let anyone know your physical identity.

I don't know what you mean by accessing forum from tor and also wallet with tor? But you can't deny that no body knows your physical identity. Each an everyone here must have know one or two people in this forum physically so that is possible.

[Charles-Tim]

I don't know what you mean by accessing forum from tor and also wallet with tor? But you can't deny that no body knows your physical identity. Each an everyone here must have know one or two people in this forum physically so that is possible.

There are some peopt that you do not know their physical identity on this forum. Those are the people that can do something like that. Your account can grow on this forum without knowing anyone if you are good. Such person can continue to access the forum with Tor and avoid people from knowing him.

[Cookdata]

I have been doubting about the privacy of Bitcoin recently after I scanned the wallet address of a reputable member in the forum and saw the huge amount he is holding and I begin to wonder why the block chain explorer have to show so much details about someone's wallet address, can't it just be in a way that you can see the amount that was transacted without knowing the total amount in that wallet. It became a concern to me because despite the anonymous nature of the forum, people can still track how much you are holding especially those who knows you in the forum. Isn't that a security threat?

Hope you know that searching block explorer and requesting for wallet address balance breaks your privacy because most of them keeps your IP address, the address that you search for further research and ways to optimize their services.
When they say Bitcoin gives you privacy, it doesn't mean people can't view your wallet balance, you can but you can't know the person behind the account unless it's link to an identity which are mostly the decentralized exchanges, they know everything about you when you do KYC with them.

Bitcoin is pseudonym, it makes users faceless and gives some rooms for privacy while making use of the network but there are limit to privacy you can get. For instance, if you are using Bitcoin and you are using another person node to broadcast your transaction, to some level you have some privacy but it's broken at the node level because there is another person that knows your IP address and your wallet. The way you use Bitcoin determines if you are going to have privacy or not, most people have their privacy broken.

[SuperBitMan]

I have been doubting about the privacy of Bitcoin recently after I scanned the wallet address of a reputable member in the forum and saw the huge amount he is holding and I begin to wonder why the block chain explorer have to show so much details about someone's wallet address, can't it just be in a way that you can see the amount that was transacted without knowing the total amount in that wallet. It became a concern to me because despite the anonymous nature of the forum, people can still track how much you are holding especially those who knows you in the forum. Isn't that a security threat?

This issue you raised is something that is very important and needs to be addressed so that that Members in this forum we know what to do in order to have total privacy when it concern their bitcoin investment, as a bitcoin investor who is in this forum and you participate in signature campaigns the Bitcoin address you should be using should be different from your bitcoin investment wallet, some set of people in this forum use the same wallet address for the investment and also to collect pay in signature campaigns which to me is not that good because since we have different local board you may connect with someone from your local board or other local board and make friends with them and even start discussing outside the forum so in other to keep your privacy in this forum when it concerns the amount of Bitcoin you are holding in your wallet then use different wallet address in this forum let it be difficult from the wallet address you are accumulating and holding your bitcoin.

[WhoYouCantKill]

Absolutely, this is a good concern. Bitcoin is pseudonymous, not entirely anonymous, everyone could view balences on wallet and histories of transactions on the blockchain. That transparency is one of the designs but equally a privacy risk. That's why many users open new addresses for every transaction or make use of privacy tools such like CoinJoin or mixers to minimize being traced. Revealing wallet addresses openly has to be done with lots of caution.

[lontivero]

Wasabi Wallet is precisely for this because it allows you to know who already knows about what set of your coins and decide what to reveal to a payee when you build the transaction. In those cases where there is no way to pay without revealing too much it allows you to coinjoin coins to gain private coins to pay with. Wasabi can select coins in clever ways to minimize what you reveal and in many cases it helps you to reveal nothing new, this is the case when you pay to someone with a coins that that person already knows you have, in many cases Wasabi can also make changeless transactions to make sure the payee cannot track your future movements and learn more about your wallet.

[Miles2006]

For someone who prioritize privacy will not hesitate to follow the major steps meant to keep a private standard for example making use of mixer can keep a good private transaction detail etc. privacy doesn’t necessarily mean everything must be hidden like knowing the wallet balance and transaction history is another unique feature about bitcoin network but, can’t give a person the complete access to the wallet except their private details is expose like the seed phrase. Meanwhile the forum is another easy access whereby people get noticed, like op mentioned the forum first for a fact keep every hidden information hidden and not minding the wallet balance because it doesn’t really matter.

[Obim34]

I have been doubting about the privacy of Bitcoin recently after I scanned the wallet address of a reputable member in the forum and saw the huge amount he is holding and I begin to wonder why the block chain explorer have to show so much details about someone's wallet address, can't it just be in a way that you can see the amount that was transacted without knowing the total amount in that wallet. It became a concern to me because despite the anonymous nature of the forum, people can still track how much you are holding especially those who knows you in the forum. Isn't that a security threat?

There are many ways of attaching privacy to Bitcoin, you can publicly see the funds through explorers but the forum links us anonymously which mean you can't identify who owns the wallet even though you see him/her physically except it was an arranged meeting exposing identities.

Your wallet address used in signature campaigns should not be your holding address, premium privacy will require only you knowing which address you hold your coins. Our names are not attached to addresses, I can freely give out my wallet address and receive funds without the sender knowing any of my personal details, that is Bitcoin privacy.

[ejikeme24]

I have been doubting about the privacy of Bitcoin recently after I scanned the wallet address of a reputable member in the forum and saw the huge amount he is holding and I begin to wonder why the block chain explorer have to show so much details about someone's wallet address, can't it just be in a way that you can see the amount that was transacted without knowing the total amount in that wallet. It became a concern to me because despite the anonymous nature of the forum, people can still track how much you are holding especially those who knows you in the forum. Isn't that a security threat?

That is the reason why anyone who is in this crypto space is advised to be very cautious of what he's doing because scammers has already glanced through most of our wallets but were not given the tools to use in accessing our wallets. Alot of people keep wondering how someone will just stumbled on thier page asking them for a business proposal not knowing that they're literally trying to get some information or tools that they will use to strick your wallet, and those who are not sensitive enough to figure out their plan or due to ignorant would definitely want to engage themselves into such business and they will be surprised to see thier assets missing one after the other. So is good to be security conscious especially our HODlers.

[RockBell]

The transparency of bitcoin allows it to be so such that a third party can have access to the amount of asset you are holding even though he can not have access to stealing the persons fund as long as the person does not allow his privacy to be easily broken into. it does not look right to allow your wallet address to be easily known even though it is not directly linked to your real identity.

And that is also one of the best innovation that can make bitcoin to be different the transparency and anonymity because you can track a transaction but you can not know who is holding if not shared or disclosed and I don't see why you will want to share your bitcoin investment because one of the things that matters a lot is privacy, it is important to keep everything private. But there people that have not learned and they don't know how important this little things are they are not suppose to be taken for granted.

hackers and theft can go to any length just to steal from people or get the real identity of an individual so, for the sake of safety, it is best that the address you are using to hold your asset should be hidden if possible and kept out of the reach of people that you know can in onw way or the other trace your identity.

And there are a lot of hacker out there that are looking for ways to still people's funds and this is why everything in the crypto space revolves around safety because any form of carelessness can cost you so so it is important not to take it for granted and when you tell people this things they take it for a joke, but we hope no one falls victim of such again. So there is much to learn when it comes crypto currency.