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Author Topic: Newbie question  (Read 355 times)
tyler72
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May 29, 2012, 04:50:08 AM
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Newbie here,

I know the wallet is capable of generating multiple receive addresses, but I was wondering if people can link an address which receives BTC with what it sends?  In other words, can people see through the blockchain what I chose to spend my BTC on later if they send me BTC?  I've read that while you can receive anonymously, you cannot really spend BTC anonymously.

Also, by going through tor when spending BTC, am I right in assuming that all you are doing is basically masking your IP address?  Everything you spend BTC on can be traced back to the same wallet address  since you only have 1 address to send from?

Thanks
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MoonShadow
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May 29, 2012, 05:03:19 AM
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Newbie here,

I know the wallet is capable of generating multiple receive addresses, but I was wondering if people can link an address which receives BTC with what it sends?  In other words, can people see through the blockchain what I chose to spend my BTC on later if they send me BTC?  I've read that while you can receive anonymously, you cannot really spend BTC anonymously.


Bitcoin isn't perfectly anonymous, this is correct.  Additional measures need to be taken in one wishes to remain anonymous with those whom he actually is involved in business with.  Bitcoin is fairly good at keeping third parties out of your private business, however.  It is true that any person with whom you have already sent funds to can forever associate you with those addresses, unless you use a 'tumbler' service to hide your own addresses; however that only applies to those exact addresses and does not necessarily mean that your other addresses can be associated with them.  That's not impossible either, but takes some professional level mapping of the blockchain to do so and is something that can be completely avoided with some care.

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Also, by going through tor when spending BTC, am I right in assuming that all you are doing is basically masking your IP address?  Everything you spend BTC on can be traced back to the same wallet address  since you only have 1 address to send from?



Tor only hides the IP address of the machine from which you are doing business, but the second part of that statement above is incorrect.  You do not have only one address to send from, you have as many addresses to send from as you have used to receive previously.  Funds are not bundled together unless 1) you deliberately do so by combining your funds under a single address sent to yourself or 2) you create a large send transaction that requires that the client use the funds from multiple addresses in order to meet the amount required.  In either case, the association of those addresses can be assumed after the transaction is sent to the network, but not before; and your client will not attempt to reuse those same addresses unless someone sends more funds to those addresses at a later date.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
deusstultus
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May 29, 2012, 06:17:36 AM
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The send operation is done by looking at available coins tied to all permitted addresses you specify, and from here, these are grouped in a transaction and sent to a receive address.  As such, it is clear to one who examines the blockchain exactly where sent funds are coming from.  That said, if you have multiple addresses tied to different identities, if you are not careful in how you specify a transaction, one could link the addresses to one individual, and if you are dealing with personal information to anyone you were involved in a transaction with, they could tie that to an individual.

Back to your query specifically, the answer outright is yes, that will be easily possible if you simply  receive the coins and send them later;  there are countless ways to obfuscate this, however, if you were so inclined.

Because the rest of you are doing it:  1deuszvF3XvgLrWJwZK7vR5KTiwPzU2Yp
nckrazze
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May 29, 2012, 04:21:16 PM
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If you were able to launder BitCoins, yes, you would be traced through BlockChain.
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