Privacy isn't an option but a Neccesity

[notocactus]

I think the same the he should not have paid the client directly from his main wallet if he doesn't want people to know how much usdt he has. It is always like this where people don't care about their privacy until something like this happen before they realize that having privacy is a must and should be taken light of. There might not be an identity linked to the wallet address but those who have converse with you might target you since they know about you having some funds.

Privacy is very important and when it lost, you almost can not get it back 100% like before. You can delete information, data, photos, but you never know whether there are any site, any people who archive your identity information and other things.

Privacy must be protected as best as possible since the beginning but I know practically people are unknowledgeable, lack of experience at their starts so there are bad behavior for privacy. However if they can learn, improve their practice with time, they will take care of their privacy much better with time. It's not perfect but it's better than don't realize importance of privacy and don't improve your practice for better privacy with time.

It's never too late to change yourself and practice as privacy always matters with anyone and anytime.

[Cookdata]

is it even possible to hide usdt balances on a public explorer, i do not think so because the smart contract for tether is totally open for anyone to check, you really have to use a mixer or an exchange if you want to stay anonymous

You can't hide your address on any explorer of any network, if you run a transaction on the network, it will be visible but Bitcoin is built differently to help you maintain some privacy. This for example, the person sent some usdc coin from his wallet to another wallet as payment for freelance gigs and now everyone knows the wallet where the money comes from belongs to him.

If this money were to be Bitcoin, it would make sense sense to send some amount to another wallet before sending out the payment, the receiver will think the sender probably got paid too before the money was sent to him but EVM doesn't generate new address under a single account, you have to create multiple accounts to use handle many EVM addresses unlike Bitcoin that you can send from different wallet under one seed.

[Patikno]

7. Don't have the mindset that privacy is only important to big holders.

Privacy is important for everyone, whether small or large holders. No one knows what the future holds. A small holder might acquire wealth someday, and when that happens, it is likely to be threatened (and I don't wish that on anyone). Therefore, respect privacy; consider it a precious treasure that must be guarded wholeheartedly. Furthermore, safeguarding privacy is like a second life for me. I won't let my privacy be publicly disclosed, which would mean a potential loss of freedom once it is exposed. By the way, I sometimes wonder why the government seems so careless about protecting its citizens privacy. I don't know about other countries, but in my country, privacy (especially citizens personal data) doesn't seem to be particularly well-protected. So, I often worry about this issue.

[aysha9853]

People underestimate how much info they leak with a single transaction once someone has your address they can track balances past activity and future moves tornado being off the table makes things worse for stablecoins so realistically your options are limited.

[Alone055]

The image stated a problem, while your writeup below it is giving solution for another thing. The problem is USDC while the solution is for bitcoin. I would have suggested a mixer if it was for bitcoin.

So, as noted above... Users should try not to link their address to their real life identity.

Secondly, try not to reuse an address . It is a basic help.

I don't see how your real life identity is a problem here, because the user who was paid and then questioned the payer about the USDC they hold didn't find out the person's identity or anything like that, but they simply checked the address where the money was sent from, and any normal blockchain user can do that. I would rather say that it's safer, in such cases, to simply use a centralized platform to make the payment, because the person who tries to look at the address in the explorer wouldn't actually find your wallet balance or holdings that you have on the centralized platform.

Basically, your identity being connected with your wallet can be concerning if there are authorities involved, and the cryptocurrencies and centralized exchanges are regulated in your country, because in that case, one can easily find that the owner of that wallet is you if they do some investigation on it, which doesn't normally happen unless you are involved in something illegal, etc.

[malekbaba]

People underestimate how much info they leak with a single transaction once someone has your address they can track balances past activity and future moves tornado being off the table makes things worse for stablecoins so realistically your options are limited.

If your account is not associated with any centralized entity, your address will only give some financial data to the receiver. And that means nothing. If I Don't know the owner of the address, what I can do to cause harm to that particular people?
Once I register into something centralized, (cex, any platform),  where KYC was needed or my particulars are there, that will leak almost all info to others.

[FinneysTrueVision]

This situation hardly would happen to btc.

All those ethereum copy cats allow you to have just one address per wallet.

Bitcoin wallets generate one new address per transaction,  so you end  up with lots of addresses  and different balances in each.
But yeah, people must be aware  of what they are exposing when transferring money

Technically it is possible to have stealth addresses on EVM chains. From my understanding, they are similar to silent payments on Bitcoin. There aren’t many wallets supporting this, which I suppose is because web3 applications are designed to work with a single address at a time, so it would be a bad experience for users trying to do anything besides holding.

[BitBakerr1]

7. Don't have the mindset that privacy is only important to big holders.

Yeah some people usually don't take any of there wallet that is holding small account of money or coin serious, example some set of people that is holding small amount of Chamby token now may not take the wallet that they are using to hold that Chamby token very serious, they may not protect their wallet very well because they may feel is just a small amount of holding but they forget the future is totally unpredictable and if they lose the wallet control and in the future Chamby token increase in price they will always regret their action.
I heard of a story that someone misplaced or forgot his wallet address phrase and password that is carrying snall amount of Bitcoin as at then but now that bitcoin is worth huge amount of money and till date his still regretting why he did not take that wallet serious.

[Marvelockg]

1. The pseudonymous of Bitcoin means nothing if your address is linked to your real life character

This is part of the reason why it's not advisable to even transact with someone that can know your identity in person because if for any reason they get to discover that you hold a large chunk of bitcoin or anh coin in your wallet, not just is your fund unsafe, you at the other end is not safe also.

Online and offline privacy is very important because because without it, you will face the bitterness that's associated with holding bitcoin. Secure your asset and if you're able to, avoid frequent movement of your coin from your investment wallet. Whatever wallet you're using for long term accumilation of your coin should only be accepting bitcoin without carrying out frequent transfers and transacting with same account.

[NINI2501]

privacy isn't just about hiding your balance from the tax man, it is literally about keeping your head on your shoulders, if someone in real life knows you have a massive bag they might not try to hack your computer, they might just show up at your door with a five dollar wrench, that is why i never tell anyone how much i hold and i certainly don't use my real name anywhere near my wallet addresses, staying pseudonymous is the only way to avoid becoming a physical target in this space xd

[The Cryptovator]

To be honest, it's becoming harder day by day to protect our privacy. Since I have been using a centralised exchange, I often pay out from there for my vendors or clients. For me, I don't send funds anywhere from my hardware device and address except for exchange for trading. Because I don't want to let the receiver know about my holdings. Because sometimes even I need to send or receive funds to friends, so I don't really want to let them know about my wealth. After facing issues with Binance, I don't even receive directly into any centralised exchange from a third party. I maintain a non-custodial wallet app to handle local transactions.

However, if someone doesn't use the centralised exchange, then they should maintain a wallet for local transactions like paying clients or vendors or receiving funds from a known person. The main wallet that holds large funds should be kept secure, and you shouldn't let anyone else. The local address shouldn't be linked with the main address that you are using to hold funds. Now it's up to you how you are going to maintain a separate wallet for local transactions. You may use a non-KYC exchange like Instant Exchange, but it must be trusted, or you could use mixers. But remember, using a mixer would cause some issues for those who are receiving funds. Because exchanges aren't accepting funds from the mixers.

For example, the funds from the signature campaigns I have been receiving I am using in a local but non-custodial wallet. Then all together I sent it to the exchange, and later from the exchange I sent it to my main address to hold for longer. I know due to the exchange my privacy is already broken, but except for the exchange, anyone couldn't trace my address as a person. You may follow some other strategies to break transaction links. But that's how I have been handling my funds. Note that I am not holding funds in exchange for longer; just move funds after the exchange is complete.

[Hamza2424]

7. Don't have the mindset that privacy is only important to big holders.

This is why privacy tools are important but those who are not linked with the foums can't get the right product easily because they search on google and some scam site opens up because people blidnly trust Google without knowing they don't give any Fs sorry but that's true.

So yeah we must focus on our privacy because that client has the audacity to ask that question is the main problem, he should have either used off chain way or use a swap to make that transaction a good swap with mixing capabilities will do best but I am not suggesting anyone to use it haha.

[Yamane_Keto]

For example, the funds from the signature campaigns I have been receiving I am using in a local but non-custodial wallet. Then all together I sent it to the exchange, and later from the exchange I sent it to my main address to hold for longer. I know due to the exchange my privacy is already broken, but except for the exchange, anyone couldn't trace my address as a person. You may follow some other strategies to break transaction links. But that's how I have been handling my funds. Note that I am not holding funds in exchange for longer; just move funds after the exchange is complete.

Your funds can be tracked by comparing the amount you send to the trading platform with the same amounts sent via another blockchain. If you repeat this process more than once, your main address can be easily determined.
If you are using the same block explorer, your main address can be determined by comparing the IP addresses that track different addresses.

[Baki202]

7. Don't have the mindset that privacy is only important to big holders.

Privacy is important for everyone, whether small or large holders. No one knows what the future holds. A small holder might acquire wealth someday, and when that happens, it is likely to be threatened (and I don't wish that on anyone). Therefore, respect privacy; consider it a precious treasure that must be guarded wholeheartedly. Furthermore, safeguarding privacy is like a second life for me. I won't let my privacy be publicly disclosed, which would mean a potential loss of freedom once it is exposed. By the way, I sometimes wonder why the government seems so careless about protecting its citizens privacy. I don't know about other countries, but in my country, privacy (especially citizens personal data) doesn't seem to be particularly well-protected. So, I often worry about this issue.

When you tell people that privacy is very important some of them might take your words for granted instead of them to read about privacy they will rather Focus the attention on money and when it comes to investing in Bitcoin as not as far as I'm concerned money is important but how you protect your money is another factor that must be taken seriously but people don't listen they will rather expose yourself about their holdings. When you're holding Bitcoin or whatever you are holding nobody know the amongst of what you are holding they just know that you are holding that is the power of privacy so you have to be security conscious also because when people know you are an holder you become a Target on things like this can be avoided.

What matters the most is for people to take privacy seriously at least even if you are sharing your experience about Bitcoin and you want to share about your olding as a testimony in you should know the kind of people you are sharing to it but most importantly protect your privacy this is something that holder's are not supposed to take for granted because from the beginning anyone you are introducing should understand that this are part of the system even on social media you don't have to post anything just stay low.

[Peanutswar]

Correct me if im wrong but AFAIK there's no UTXO, supported with the USDC as my experience is Bitcoin has this kind of feature such as the wallet of Electrum have this. If you are getting bothered that someone always monitor your wallet address such as this case having a different address for the transactional use and other wallet for holding of your funds we know that some of us are holding such as stable coins so we are waiting for the possible movement of the market, and other use that coin as an active one for transaction base such youve said for payment now with the use of the different address you aint getting bothered at all or else they have the effort to trace back where's the origin of the address. But dont make focus about the visibility of your funds i guess focus in the safety of your funds.

[Lucius]

Privacy is something that very few people even understand, let alone practice. How many people do you think use Tor on this forum? It seems to me that this is less than 10% of active forum members. And considering that dozens of accounts have been marked as alts lately, it is obvious that a lot of forum members do not understand the basics of transactions.

I won't write about how to sever the link between coins and your personal identity so as not to give some bad people the idea - but we have the tools and cryptocurrencies with which to achieve this, so it's just a matter of how much effort someone puts into it. Privacy is, after all, just an option that is completely irrelevant to most people.

[Sim_card]

This is the problem about stablecoins, since they are centralized, transactions cannot easily be private. Unlike, bitcoin that is decentralized giving you the chance to control your transactions in a private way. Using coin control and coinjoin services should be your priority.

[Rustam Meraj]

When you tell people that privacy is very important some of them might take your words for granted instead of them to read about privacy they will rather Focus the attention on money and when it comes to investing in Bitcoin as not as far as I'm concerned money is important but how you protect your money is another factor that must be taken seriously but people don't listen they will rather expose yourself about their holdings. When you're holding Bitcoin or whatever you are holding nobody know the amongst of what you are holding they just know that you are holding that is the power of privacy so you have to be security conscious also because when people know you are an holder you become a Target on things like this can be avoided.

What matters the most is for people to take privacy seriously at least even if you are sharing your experience about Bitcoin and you want to share about your olding as a testimony in you should know the kind of people you are sharing to it but most importantly protect your privacy this is something that holder's are not supposed to take for granted because from the beginning anyone you are introducing should understand that this are part of the system even on social media you don't have to post anything just stay low.

Privacy and security are same in Bitcoin world, since revealing your holdings will put you in view of hackers and physical attacks. Although you may feel like sharing your success in order to help others, this may backfire because even when you are using digital coding, there is no way that someone will be unable to break in with physical force to get your password. To remain safe, we must not post about our money on social media. Being unknown face in crowd where people may be aware that weown Bitcoin, but do not know exact amount that we own, is much better. We should keep our investment as secret vault and teach others about technology without ever telling them about our balance as only way we can make sure that our hard earned money remains in our hands.

[Asuspawer09]

I guess its ignorance since we all know that blockchain ledger is public and you know that transactions is all written on the ledger so why would you going to make a payout payment on your main wallet for example or on a wallet that have a huge amount of money, for me it is just simple if you dont want to put your privacy at risk or just wanted to protect your privacy then you need to do it, dont do this because its obvious that they are going to see it, there are a lot of ways that he could do in order to hide that but maybe he doesn't know but if ignorance is going to be the case I just its unacceptable because its not an excuse.

This is just how the technology works, I mean ,it wasn't anonymous or completely private at all, but if you know what you are doing, you could hide it and become completely anonymouse that is probably why there are a lot of illegal transactions in the blockchain, because they know that they can hide it.

It would also going to depends on the user some user is not going to mind being public and some just prefer to be completely private on there transactions, but it wasn't to the extent of revealing your identity it was just the transactions are public.

[Cookdata]

This is the problem about stablecoins, since they are centralized, transactions cannot easily be private. Unlike, bitcoin that is decentralized giving you the chance to control your transactions in a private way. Using coin control and coinjoin services should be your priority.

Not all stable coins are centralized, Dai is a decentralize stable coin and can't be seized by anyone, I'm not sure if there has been any complaints of Dai seized by the issuer. They are better than USDC that is back by cycle. I think the worst stable coin of them is USDT, they are very quick to flagged an address if they find you suspicious, that's why most people don't like them, there are many addresses with USDT that are flagged since last bull run and can't be move due to regulation concern.

Stable coins can be bad for privacy but even Bitcoin as an alternative doesn't help you with full privacy with coin control unless you break the link. A simple chain analysis can tell you where an input and output of transaction is coming and going. You need to either use a mixer or coinjoin for compliance. Most centralized exchanges don't like it when transactions comes from mixer due to regulation and fear been a stolen coins.