Why Services Like Coinapult Are A Threat To Your Privacy

[bluemeanie1]

hello,

New blog article regarding Coinapult, Graph Analysis and Privacy.

must read if you use Coinapult and you are interested in privacy aspects.

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[QuestionAuthority]

Here's a conspiracy theory for you. What if data collection was a secret condition of the SEC plea agreement. Nah, why would someone that renounced his U.S. Citizenship care about the SEC.

The SEC’s order finds that Voorhees actively solicited investors to buy FeedZeBirds and SatoshiDICE shares on a website dedicated to Bitcoin known as the Bitcoin Forum.  Voorhees also publicly promoted the unregistered offerings on other Bitcoin-related websites as well as Facebook.  The first unregistered offering was explicitly referred to as the “FeedZeBirds IPO.”  Despite these general solicitations, no registration statement was filed for the FeedZeBirds or SatoshiDICE offerings, and no exemption from registration was applicable to these transactions.

[bluemeanie1]

Voorhees renounced US citizenship?

Was there any public indication of such a plea bargain?

Here's a conspiracy theory for you. What if data collection was a secret condition of the SEC plea agreement. Nah, why would someone that renounced his U.S. Citizenship care about the SEC.

The SEC’s order finds that Voorhees actively solicited investors to buy FeedZeBirds and SatoshiDICE shares on a website dedicated to Bitcoin known as the Bitcoin Forum.  Voorhees also publicly promoted the unregistered offerings on other Bitcoin-related websites as well as Facebook.  The first unregistered offering was explicitly referred to as the “FeedZeBirds IPO.”  Despite these general solicitations, no registration statement was filed for the FeedZeBirds or SatoshiDICE offerings, and no exemption from registration was applicable to these transactions.

[bluemeanie1]

according to his statements Voorhees either doesn't understand the security implications here, or doesn't admit to them.

[QuestionAuthority]

Voorhees renounced US citizenship?

Was there any public indication of such a plea bargain?

Here's a conspiracy theory for you. What if data collection was a secret condition of the SEC plea agreement. Nah, why would someone that renounced his U.S. Citizenship care about the SEC.

The SEC’s order finds that Voorhees actively solicited investors to buy FeedZeBirds and SatoshiDICE shares on a website dedicated to Bitcoin known as the Bitcoin Forum.  Voorhees also publicly promoted the unregistered offerings on other Bitcoin-related websites as well as Facebook.  The first unregistered offering was explicitly referred to as the “FeedZeBirds IPO.”  Despite these general solicitations, no registration statement was filed for the FeedZeBirds or SatoshiDICE offerings, and no exemption from registration was applicable to these transactions.

Supposedly

The plea deal was a little "light" in my opinion.

Hum, you accuse his company and he doesn't "understand" the problem. Funny that.

[bluemeanie1]

Supposedly

The plea deal was a little "light" in my opinion.

Hum, you accuse his company and he doesn't "understand" the problem. Funny that.

sure is.  The problem is not only is it a problem for anyone who enters in THEIR bitcoin/email/sms but for whomever they may SEND it to!

also note that in Panama there are ZERO consumer protections for ID material, ie. Erik Voorhees can do what he wants with the information- sell it, use it, anything.

[Coinapult]

The OP is full of FUD. Blockchain.info, Coinbase, and many other wallets also allow users to VOLUNTARILY send bitcoin via email address and text message. As this is entirely voluntary and the information given by the user is absolutely required to complete the transaction, it is hardly a secret.

As far as Panamanian consumer protection laws, we hold ourselves to a higher standard of privacy than any government. Panama at least doesn't REQUIRE companies to violate consumer privacy like the US and other countries do. Ask Coinbase, Circle and other US-based services about that, if you are concerned about the security of your information.

[bluemeanie1]

The OP is full of FUD. Blockchain.info, Coinbase, and many other wallets also allow users to VOLUNTARILY send bitcoin via email address and text message. As this is entirely voluntary and the information given by the user is absolutely required to complete the transaction, it is hardly a secret.

As far as Panamanian consumer protection laws, we hold ourselves to a higher standard of privacy than any government. Panama at least doesn't REQUIRE companies to violate consumer privacy like the US and other countries do. Ask Coinbase, Circle and other US-based services about that, if you are concerned about the security of your information.

translation: you have no protections.  and...

if you send someone bitcoin using Coinapult you :

1) reveal a connection between that email address and your bitcoin address

2) reveal a connection between the recipient email address and their bitcoin address(es)

3) this correlations can be cross referenced to other databases that increase the accuracy of identification X 1000 or more.


this isn't FUD.  This is a real hazard for Coinapult users.

[Coinapult]

translation: you have no protections.  and...

if you send someone bitcoin using Coinapult you :

1) reveal a connection between that email address and your bitcoin address

2) reveal a connection between the recipient email address and their bitcoin address(es)

3) this correlations can be cross referenced to other databases that increase the accuracy of identification X 1000 or more.


this isn't FUD.  This is a real hazard for Coinapult users.

We never claim to maintain anonymity between email addresses and bitcoin addresses. We claim to allow users to send Bitcoin via email. There is no way to provide such a service without connecting bitcoin addresses to email addresses. We are very clear to our users about this, and they choose to use our service for the convenience. Users who wish to have a greater degree of privacy can choose to simply not use our email feature.

[bluemeanie1]

There is no way to provide such a service without connecting bitcoin addresses to email addresses.

really?

[Coinapult]

There is no way to provide such a service without connecting bitcoin addresses to email addresses.

really?

Yes. Short of emailing someone a private key, Bitcoin does not work via email. It has its own protocol, which is not shared with email.

[bluemeanie1]

There is no way to provide such a service without connecting bitcoin addresses to email addresses.

really?

Yes.

so you're saying there is no way to email someone bitcoin without submitting your email address to a centralized service such as Coinapult?

[Coinapult]

If you have a way to do it that doesn't expose private keys, please do tell. This is how Blockchain.info, Coinbase, Circle, and all other wallets I am aware of work. Here is a screenshot from Blockchain.info's wallet:

[J. J. Phillips]

I've heard good things from friends about coinapult. I just looked through the site and it looks to me like they don't demand the kind of information that would compromise a user's privacy. They provide tools. Obviously if someone doesn't care about their privacy it's easy to use the tools in a way that leaks information.

That said, I will admit I was a little disturbed that the following link seems to be broken (for me at least):

https://coinapult.com/privacypolicy

[Coinapult]

That said, I will admit I was a little disturbed that the following link seems to be broken (for me at least):

https://coinapult.com/privacypolicy

Thanks for pointing this out! This doesn't work as a link it appears, as the policy is displayed as a modal using Javascript. If you click on "Privacy Policy" in the footer, it should work. We'll fix this anyway, in case people send each other links.

[QuestionAuthority]

I've heard good things from friends about coinapult. I just looked through the site and it looks to me like they don't demand the kind of information that would compromise a user's privacy. They provide tools. Obviously if someone doesn't care about their privacy it's easy to use the tools in a way that leaks information.

That said, I will admit I was a little disturbed that the following link seems to be broken (for me at least):

https://coinapult.com/privacypolicy

The privacy policy is a dead link. LOL

That's rich!

[bluemeanie1]

I've heard good things from friends about coinapult. I just looked through the site and it looks to me like they don't demand the kind of information that would compromise a user's privacy. They provide tools. Obviously if someone doesn't care about their privacy it's easy to use the tools in a way that leaks information.

That said, I will admit I was a little disturbed that the following link seems to be broken (for me at least):

https://coinapult.com/privacypolicy

The privacy policy is a dead link. LOL

That's rich!

whups.

[J. J. Phillips]

That said, I will admit I was a little disturbed that the following link seems to be broken (for me at least):

https://coinapult.com/privacypolicy

Thanks for pointing this out! This doesn't work as a link it appears, as the policy is displayed as a modal using Javascript. If you click on "Privacy Policy" in the footer, it should work. We'll fix this anyway, in case people send each other links.

Ah, I see. I saw it as a link while reading the Terms of Service. You're right that it appears when clicking on "Privacy Policy" in the footer.

[bluemeanie1]

That said, I will admit I was a little disturbed that the following link seems to be broken (for me at least):

https://coinapult.com/privacypolicy

Thanks for pointing this out! This doesn't work as a link it appears, as the policy is displayed as a modal using Javascript. If you click on "Privacy Policy" in the footer, it should work. We'll fix this anyway, in case people send each other links.

Ah, I see.

the fact is you are given NO guarantees here.

these sorts of databases are marketable information.  So be careful what youre really spending when you're using a "free service".

[inBitweTrust]

hello,

New blog article regarding Coinapult, Graph Analysis and Privacy.

must read if you use Coinapult and you are interested in privacy aspects.

Why are you singling out Coinapult? This is equally true of Circle or Coinbase, and many other hot wallets. This product has its role in the marketplace and not intended for you.