Bitcoin Forum
March 28, 2024, 11:16:12 PM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: 1 2 [All]
  Print  
Author Topic: Bitcoin de-Anonymity  (Read 2020 times)
den.faulkner1990 (OP)
Newbie
*
Offline Offline

Activity: 42
Merit: 0


View Profile
July 20, 2014, 12:16:17 PM
 #1

Hello. Get some info that Bitcoin is not true anonymity. "Once you make the transaction ->it will be put into the blockchain with amount and addresses -> everyone can track your address current balance"

Where there any known cases deanonymization?
1711667772
Hero Member
*
Offline Offline

Posts: 1711667772

View Profile Personal Message (Offline)

Ignore
1711667772
Reply with quote  #2

1711667772
Report to moderator
The forum strives to allow free discussion of any ideas. All policies are built around this principle. This doesn't mean you can post garbage, though: posts should actually contain ideas, and these ideas should be argued reasonably.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1711667772
Hero Member
*
Offline Offline

Posts: 1711667772

View Profile Personal Message (Offline)

Ignore
1711667772
Reply with quote  #2

1711667772
Report to moderator
1711667772
Hero Member
*
Offline Offline

Posts: 1711667772

View Profile Personal Message (Offline)

Ignore
1711667772
Reply with quote  #2

1711667772
Report to moderator
1711667772
Hero Member
*
Offline Offline

Posts: 1711667772

View Profile Personal Message (Offline)

Ignore
1711667772
Reply with quote  #2

1711667772
Report to moderator
FUR11
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250

FURring bitcoin up since 1762


View Profile
July 20, 2014, 04:26:08 PM
 #2

Well, it actually is somewhat of a mixture between anonymity and pseudonymity. If you do know the owner of an address, you can track the respective transactions. Thus the anonymity is being void. If you for example send someone BTC, you know their address and can track the funds. Or in case of for example Mt. Gox addresses, people have tracked funds through their wallets...

RepublicSpace
Member
**
Offline Offline

Activity: 145
Merit: 10


View Profile
July 20, 2014, 04:28:08 PM
 #3

Yes, academics have written papers on this.
Marty N. Gale
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
July 20, 2014, 04:38:28 PM
 #4

Yes, academics have written papers on this.

Care to share some sources or examples of those papers? It's an interesting topic!
lihuajkl
Legendary
*
Offline Offline

Activity: 1596
Merit: 1000


View Profile
July 20, 2014, 04:44:53 PM
 #5

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.
doggieTattoo
Full Member
***
Offline Offline

Activity: 209
Merit: 100



View Profile
July 20, 2014, 04:53:35 PM
 #6

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.
It is possible to track your address back to your identity if you somehow associate the address with your identity (using your IP address to transmit a TX, send funds to an exchange that has verified your identity)

TIDEX ▬▬ .CRYPTO COINS AND ASSET TRADING. ▬▬ TIDEX
▬▬▰▰▬▬▰▰▰▬▬▰▰▰▬▬▰▰▰▬▬▰▰▬▬
NEW EXCHANGE   ZERO FEES
FUR11
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250

FURring bitcoin up since 1762


View Profile
July 20, 2014, 04:54:02 PM
 #7

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.

Yeah that's part of the pseudonymous nature of BTC. One doesn't know for sure who's the owner of a specific address. But even if you figure that out, one can pretty easily just use another address and thus remain separate from the first one!

SirChiko
Legendary
*
Offline Offline

Activity: 966
Merit: 1000



View Profile
July 20, 2014, 05:52:40 PM
 #8

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.

Yeah that's part of the pseudonymous nature of BTC. One doesn't know for sure who's the owner of a specific address. But even if you figure that out, one can pretty easily just use another address and thus remain separate from the first one!
Using multiple adresses and shared sends and mixers does remove that.

The only online casino on which i won something. I made 17mBTC from 1mBTC in like 15 minutes.  This is not paid AD!

▀Check it out yourself▀
den.faulkner1990 (OP)
Newbie
*
Offline Offline

Activity: 42
Merit: 0


View Profile
July 20, 2014, 06:01:21 PM
 #9

Hello. Get some info that Bitcoin is not true anonymity. "Once you make the transaction ->it will be put into the blockchain with amount and addresses -> everyone can track your address current balance"

Where there any known cases deanonymization?

And what about cash out BTC to USD? How i can see it's weak element. What is the most secure way to cashout money from BTC to USD?
den.faulkner1990 (OP)
Newbie
*
Offline Offline

Activity: 42
Merit: 0


View Profile
July 20, 2014, 06:03:41 PM
 #10

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.

Yeah that's part of the pseudonymous nature of BTC. One doesn't know for sure who's the owner of a specific address. But even if you figure that out, one can pretty easily just use another address and thus remain separate from the first one!
Using multiple adresses and shared sends and mixers does remove that.

could you give more info about this? are there some software for "shared sends and mixers" or i need to do it by myself?
SirChiko
Legendary
*
Offline Offline

Activity: 966
Merit: 1000



View Profile
July 20, 2014, 06:10:39 PM
 #11

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.

Yeah that's part of the pseudonymous nature of BTC. One doesn't know for sure who's the owner of a specific address. But even if you figure that out, one can pretty easily just use another address and thus remain separate from the first one!
Using multiple adresses and shared sends and mixers does remove that.

could you give more info about this? are there some software for "shared sends and mixers" or i need to do it by myself?
Shared send is less anonymous and for mixing coins you can use bitmixer.io for example. These are both online and you don't need to install anything.

The only online casino on which i won something. I made 17mBTC from 1mBTC in like 15 minutes.  This is not paid AD!

▀Check it out yourself▀
annoyingorange
Member
**
Offline Offline

Activity: 72
Merit: 10


View Profile
July 20, 2014, 08:01:21 PM
 #12

'Tis the nature of the beast.
Read and learn.
shockinglyugly
Newbie
*
Offline Offline

Activity: 52
Merit: 0


View Profile
July 20, 2014, 08:06:56 PM
 #13

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.

Yeah that's part of the pseudonymous nature of BTC. One doesn't know for sure who's the owner of a specific address. But even if you figure that out, one can pretty easily just use another address and thus remain separate from the first one!
Using multiple adresses and shared sends and mixers does remove that.

could you give more info about this? are there some software for "shared sends and mixers" or i need to do it by myself?
Shared send is a feature on blockchain.info's wallet that allows you to send coins to another address but it will go through several intermediary addresses first and each transaction to each intermediary address has several input and output addresses 
SirChiko
Legendary
*
Offline Offline

Activity: 966
Merit: 1000



View Profile
July 20, 2014, 08:10:46 PM
 #14

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.

Yeah that's part of the pseudonymous nature of BTC. One doesn't know for sure who's the owner of a specific address. But even if you figure that out, one can pretty easily just use another address and thus remain separate from the first one!
Using multiple adresses and shared sends and mixers does remove that.

could you give more info about this? are there some software for "shared sends and mixers" or i need to do it by myself?
Shared send is a feature on blockchain.info's wallet that allows you to send coins to another address but it will go through several intermediary addresses first and each transaction to each intermediary address has several input and output addresses  
Here is also bitmixer method:
BitMixer has a huge reserve of Bitcoins already in its system. A user sends us their BTC and we cap it onto the end of our reserve chain. We then pay the amount of what was purchased from the beginning of our reserve. This method of mixing means that you do not have to wait for other customers – coins already mixed are instantly available.

The only online casino on which i won something. I made 17mBTC from 1mBTC in like 15 minutes.  This is not paid AD!

▀Check it out yourself▀
laurentmt
Sr. Member
****
Offline Offline

Activity: 384
Merit: 258


View Profile
July 20, 2014, 08:24:46 PM
 #15

Yes, academics have written papers on this.
Care to share some sources or examples of those papers? It's an interesting topic!
Here's a list of research papers related to bitcoin (some of them are related to privacy and blockchain analysis)
leopard2
Legendary
*
Offline Offline

Activity: 1372
Merit: 1014



View Profile
July 20, 2014, 11:29:35 PM
 #16

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand

Truth is the new hatespeech.
Yakamoto
Legendary
*
Offline Offline

Activity: 1218
Merit: 1007


View Profile
July 21, 2014, 01:37:54 AM
 #17

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand
NO! Don't use Darkcoin! Use Bytecoin or Monero!

Darkcoin was just bashed because the "anonymity" nodes were being hosted on Amazon servers, which are monitored by the government, so they can see everything that was going on.

Bytecoin/Monero are better because they are harder to track, so don't use Darkcoin as transactions, unless you don't care if people see them.

So Bitcoin as a store of value, and BYC/XMR for critical and anonymous transactions.
Ignition75
Sr. Member
****
Offline Offline

Activity: 462
Merit: 250


www.dashpay.io


View Profile
July 21, 2014, 02:35:41 AM
 #18

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand
NO! Don't use Darkcoin! Use Bytecoin or Monero!

Darkcoin was just bashed because the "anonymity" nodes were being hosted on Amazon servers, which are monitored by the government, so they can see everything that was going on.

Bytecoin/Monero are better because they are harder to track, so don't use Darkcoin as transactions, unless you don't care if people see them.

So Bitcoin as a store of value, and BYC/XMR for critical and anonymous transactions.

Bytecoin/Monero = BlockChain Bloat and will never see the light of day as a usable currency...

DarkCoin MasterNodes are spread all around the world and Proof of Service is just the beginning for these nodes...

The new generation have arrived and they brought their own currency...
stealth923
Legendary
*
Offline Offline

Activity: 1036
Merit: 1000


View Profile
July 21, 2014, 02:47:31 AM
 #19

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand
NO! Don't use Darkcoin! Use Bytecoin or Monero!

Darkcoin was just bashed because the "anonymity" nodes were being hosted on Amazon servers, which are monitored by the government, so they can see everything that was going on.

Bytecoin/Monero are better because they are harder to track, so don't use Darkcoin as transactions, unless you don't care if people see them.

So Bitcoin as a store of value, and BYC/XMR for critical and anonymous transactions.

Bytecoin/Monero = BlockChain Bloat and will never see the light of day as a usable currency...

DarkCoin MasterNodes are spread all around the world and Proof of Service is just the beginning for these nodes...

Firstly I think that bitcoin will have a major privacy issue on its hands when marketing and data warehhouse businesses start (its already begun) to data mine bitcoin info to link user transactions to businesses and services. This can be sold for marketing and other purposes for huge money. Information is power!

Secondly To see how decentralized darkcoins masternodes are - see here https://drk.mn/masternodes.html - 700 all over the world and this is just the beginning.

I used Bytecoin/Monero and it took 1-2 days just to sync the blockchain and its only 2-3 months old. Scalability, incompatibility with bitcoin api where all infrastructure exists and bloat will kill mainstream use. Can you imagine if it had the same number of transactions as bitcoin. The blockchain would need to be shipped on 1 TB harddrives to every user.
thelonecrouton
Legendary
*
Offline Offline

Activity: 966
Merit: 1000


View Profile
July 21, 2014, 02:58:08 AM
 #20

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand
NO! Don't use Darkcoin! Use Bytecoin or Monero!

Darkcoin was just bashed because the "anonymity" nodes were being hosted on Amazon servers, which are monitored by the government, so they can see everything that was going on.

Bytecoin/Monero are better because they are harder to track, so don't use Darkcoin as transactions, unless you don't care if people see them.

So Bitcoin as a store of value, and BYC/XMR for critical and anonymous transactions.

With Darkcoin's Darksend+ (RC4 and beyond,) not even individual masternodes know what's going on, as multiple masternodes and virgin addresses each time are used to anonymise your coins.

Subverting enough masternodes to be useful is financially and technically unfeasible, and pointless anyway as ALL Darkcoins will be automatically anonymised prior to sending anywhere, with change also going to virgin addresses each time.

Bytecoin etc. are currently unscaleable to useful levels and have other problems as well.
libivan
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
July 21, 2014, 03:08:03 AM
 #21

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.

Yes, as long as your address(es) is(are) not revealed you are "anonymous". You could still be tracked (IP, exchanges, etc) but it would demand some effort.
dadugan
Full Member
***
Offline Offline

Activity: 179
Merit: 100


View Profile
July 21, 2014, 03:09:42 AM
 #22

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.

Yes, as long as your address(es) is(are) not revealed you are "anonymous". You could still be tracked (IP, exchanges, etc) but it would demand some effort.

Getting court order to subpoena exchange can be done fairly easy with patriot act.
cutepuppy
Newbie
*
Offline Offline

Activity: 50
Merit: 0


View Profile
July 21, 2014, 03:19:30 AM
 #23

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand
NO! Don't use Darkcoin! Use Bytecoin or Monero!

Darkcoin was just bashed because the "anonymity" nodes were being hosted on Amazon servers, which are monitored by the government, so they can see everything that was going on.

Bytecoin/Monero are better because they are harder to track, so don't use Darkcoin as transactions, unless you don't care if people see them.

So Bitcoin as a store of value, and BYC/XMR for critical and anonymous transactions.

Bytecoin/Monero = BlockChain Bloat and will never see the light of day as a usable currency...

DarkCoin MasterNodes are spread all around the world and Proof of Service is just the beginning for these nodes...
All alts are way less secure then bitcoin is. If you want to deal in any serious amount of money then you must use bitcoin otherwise you will be risking your TX being reversed from an attack on the blockchain of the altcoin
libivan
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
July 21, 2014, 03:28:45 AM
 #24

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.

Yes, as long as your address(es) is(are) not revealed you are "anonymous". You could still be tracked (IP, exchanges, etc) but it would demand some effort.

Getting court order to subpoena exchange can be done fairly easy with patriot act.

Yes, but in this case, unfortunately, the State has got enormous power, and no limits or scruples, so they will do their dirty things, and end up "catching" anyone they want, anyway :/
libivan
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
July 21, 2014, 03:32:09 AM
 #25

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand
NO! Don't use Darkcoin! Use Bytecoin or Monero!

Darkcoin was just bashed because the "anonymity" nodes were being hosted on Amazon servers, which are monitored by the government, so they can see everything that was going on.

Bytecoin/Monero are better because they are harder to track, so don't use Darkcoin as transactions, unless you don't care if people see them.

So Bitcoin as a store of value, and BYC/XMR for critical and anonymous transactions.

Bytecoin/Monero = BlockChain Bloat and will never see the light of day as a usable currency...

DarkCoin MasterNodes are spread all around the world and Proof of Service is just the beginning for these nodes...
All alts are way less secure then bitcoin is. If you want to deal in any serious amount of money then you must use bitcoin otherwise you will be risking your TX being reversed from an attack on the blockchain of the altcoin

Is it really possible, with ANY altcoin... I doubt...
Cicero2.0
Member
**
Offline Offline

Activity: 98
Merit: 10

★☆★Bitin.io★☆★


View Profile
July 21, 2014, 04:15:43 AM
 #26

Just being smart about your transactions will help tremendously. Don't use your main wallet for transactions that you don't want to be associated with and make use of the mixers if you are truly concerned. And of course don't reuse addresses.

  

Yakamoto
Legendary
*
Offline Offline

Activity: 1218
Merit: 1007


View Profile
July 21, 2014, 01:48:36 PM
 #27

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand
NO! Don't use Darkcoin! Use Bytecoin or Monero!

Darkcoin was just bashed because the "anonymity" nodes were being hosted on Amazon servers, which are monitored by the government, so they can see everything that was going on.

Bytecoin/Monero are better because they are harder to track, so don't use Darkcoin as transactions, unless you don't care if people see them.

So Bitcoin as a store of value, and BYC/XMR for critical and anonymous transactions.

Bytecoin/Monero = BlockChain Bloat and will never see the light of day as a usable currency...

DarkCoin MasterNodes are spread all around the world and Proof of Service is just the beginning for these nodes...
All alts are way less secure then bitcoin is. If you want to deal in any serious amount of money then you must use bitcoin otherwise you will be risking your TX being reversed from an attack on the blockchain of the altcoin

Is it really possible, with ANY altcoin... I doubt...
That leads me to question; then why has it been done?

If you took some time to study alternate coins, you'd see the majority being really insecure and weak. But there are a few that actually have been secured on par with other high-end alts. How do you think Darkcoin got its $5 value?

A majority of alts will always be poor excuses of coins, but there are things that have been matured and secured so that they may be used with confidence, not as a pump n dump.
Baitty
Hero Member
*****
Offline Offline

Activity: 532
Merit: 500

Currently held as collateral by monbux


View Profile
July 21, 2014, 03:12:03 PM
 #28

I think it's been made clear that BItcoin isn't anonymous in official announcements and discussions but it would take a lot of effort to prove who sent that transaction and a lot of people use disposable addresses and always use a clean one for another transaction.

Currently held as collateral by monbux
Harley997
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250


View Profile
July 22, 2014, 12:18:04 AM
 #29

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand
NO! Don't use Darkcoin! Use Bytecoin or Monero!

Darkcoin was just bashed because the "anonymity" nodes were being hosted on Amazon servers, which are monitored by the government, so they can see everything that was going on.

Bytecoin/Monero are better because they are harder to track, so don't use Darkcoin as transactions, unless you don't care if people see them.

So Bitcoin as a store of value, and BYC/XMR for critical and anonymous transactions.

Bytecoin/Monero = BlockChain Bloat and will never see the light of day as a usable currency...

DarkCoin MasterNodes are spread all around the world and Proof of Service is just the beginning for these nodes...
All alts are way less secure then bitcoin is. If you want to deal in any serious amount of money then you must use bitcoin otherwise you will be risking your TX being reversed from an attack on the blockchain of the altcoin

Is it really possible, with ANY altcoin... I doubt...
It is very possible to attack any altcoin blockchain, just as it is possible to attack the bitcoin blockchain.

The higher the hashrate of the network of the specific coin the more expensive it is to launch an attack on the blockchain. With most alts having a small hashrate, it is not difficult to attack most alts.

▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
PRIMEDICE
The Premier Bitcoin Gambling Experience @PrimeDice
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
libivan
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
July 22, 2014, 02:56:10 AM
 #30

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand
NO! Don't use Darkcoin! Use Bytecoin or Monero!

Darkcoin was just bashed because the "anonymity" nodes were being hosted on Amazon servers, which are monitored by the government, so they can see everything that was going on.

Bytecoin/Monero are better because they are harder to track, so don't use Darkcoin as transactions, unless you don't care if people see them.

So Bitcoin as a store of value, and BYC/XMR for critical and anonymous transactions.

Bytecoin/Monero = BlockChain Bloat and will never see the light of day as a usable currency...

DarkCoin MasterNodes are spread all around the world and Proof of Service is just the beginning for these nodes...
All alts are way less secure then bitcoin is. If you want to deal in any serious amount of money then you must use bitcoin otherwise you will be risking your TX being reversed from an attack on the blockchain of the altcoin

Is it really possible, with ANY altcoin... I doubt...
It is very possible to attack any altcoin blockchain, just as it is possible to attack the bitcoin blockchain.

The higher the hashrate of the network of the specific coin the more expensive it is to launch an attack on the blockchain. With most alts having a small hashrate, it is not difficult to attack most alts.

Sure, with this I agree. No doubt of what you have said here, Harley997, as well as what Yakamoto also said. But I could not agree with cutepuppy's radical statement that "All alts are way less secure then bitcoin is. If you want to deal in any serious amount of money then you must use bitcoin otherwise you will be risking your TX being reversed from an attack on the blockchain of the altcoin".

In fact, I believe that there are some (maybe a few, who knows) altcoins that are safe.
alz
Full Member
***
Offline Offline

Activity: 227
Merit: 100


View Profile
July 22, 2014, 11:31:18 AM
 #31

Blockchain analysis techniques have totally removed Bitcoins anonymity, It is just a case of how many resources the forensic analysis team have at their disposal.
If you are talking of an individual Bitcoin users anonymity against aggressive government agencies then even employing mixers and 1 shot addresses is going to be ineffective.

There are some newer Cryptocoins that tout anonymity using various methods of blockchain obfuscation ,of these Darkcoin has the most promise IMO as the development team has been the most transparent and have come up with several unique inovations that other coins were quick to clone.
Darkcoins unique Darksend+  blockchain obfuscation system is currently undergoing an independent code and feature review from noted Crypographer and Crypto coin expert Kristov Atlas, the results of Kristov's analysis are due in about a week.

BTC - 1GJ2dWf8WBznTtkuuof3WTBXQAULaqVGYj LTC - LTyCKKCGHJQZwsh5YhyzGeee4womQwChUU DASH - Xp5pq62dgJxmbhawyNtWMKT9Rst8JgNCY7
franky1
Legendary
*
Online Online

Activity: 4172
Merit: 4357



View Profile
July 22, 2014, 01:30:14 PM
 #32

Any address can be tracked easily. But the owner of address is anonymous. At some extent it is still anonymous. We can generate as many addresses as we can to receive BTC instantly with no one knowing the owner.

bitcoin is only anonymous right up to the second that you tell people publicly who the address belongs to
Quote from: lihuajkl
1MeUK9ofgyoeQNzqHiegH52FqcaKhBMnmV

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
Harley997
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250


View Profile
July 22, 2014, 03:09:30 PM
 #33

use Darkcoin, it has built in anonymity

you can still use BTC for store of value, then buy Darkcoin for critical transactions on demand
NO! Don't use Darkcoin! Use Bytecoin or Monero!

Darkcoin was just bashed because the "anonymity" nodes were being hosted on Amazon servers, which are monitored by the government, so they can see everything that was going on.

Bytecoin/Monero are better because they are harder to track, so don't use Darkcoin as transactions, unless you don't care if people see them.

So Bitcoin as a store of value, and BYC/XMR for critical and anonymous transactions.

Bytecoin/Monero = BlockChain Bloat and will never see the light of day as a usable currency...

DarkCoin MasterNodes are spread all around the world and Proof of Service is just the beginning for these nodes...
All alts are way less secure then bitcoin is. If you want to deal in any serious amount of money then you must use bitcoin otherwise you will be risking your TX being reversed from an attack on the blockchain of the altcoin

Is it really possible, with ANY altcoin... I doubt...
It is very possible to attack any altcoin blockchain, just as it is possible to attack the bitcoin blockchain.

The higher the hashrate of the network of the specific coin the more expensive it is to launch an attack on the blockchain. With most alts having a small hashrate, it is not difficult to attack most alts.

Sure, with this I agree. No doubt of what you have said here, Harley997, as well as what Yakamoto also said. But I could not agree with cutepuppy's radical statement that "All alts are way less secure then bitcoin is. If you want to deal in any serious amount of money then you must use bitcoin otherwise you will be risking your TX being reversed from an attack on the blockchain of the altcoin".

In fact, I believe that there are some (maybe a few, who knows) altcoins that are safe.
In order to attack any altcoin you will need to put forth some level of effort (read money). Since all altcoins have a very low hashrate when compared to bitcoin (and when looked at alone) it would take a small amount of effort (money) to attack altcoins. If you are dealing in small amounts, say only $5 worth, then it would likely be unprofitable to attack the alt. If you are dealing in larger amounts, say even a few thousand dollars, then an attacker could simply rent a few hundred dollars worth of mining to launch a 51% attack on the network to reverse his altcoin payment to you.

▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
PRIMEDICE
The Premier Bitcoin Gambling Experience @PrimeDice
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
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!