Bitcoin blockchain vs Privacy coins.. - page 2.

Haunebu

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Quote from: ahmadinejad93 on April 30, 2019, 02:11:28 AM

Even though Bitcoin has proven to be the most dominant cryptocurrency in recent years, Bitcoin has not been able to meet the needs of all its users. And, in an era where privacy is a more important problem in the community, it seems that some individuals prefer cryptocurrency such as Monero, Zcash, and Dash, which has proven to be more effective in protecting user privacy.

Lol. Wrong. Bitcoin is the most popular cryptocurrency which helps safeguard your privacy to a large extent(Not as much as Monero etc), but it does the job majority of the time according to many investors including me.

Privacy isn't everything. There are other important factors like popularity etc and Bitcoin is the king since it a complete package basically. Also, regular developments like LN, segwit etc make it an even better cryptocurrency which is why it will always stay at the top.

ahmadinejad93

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Even though Bitcoin has proven to be the most dominant cryptocurrency in recent years, Bitcoin has not been able to meet the needs of all its users. And, in an era where privacy is a more important problem in the community, it seems that some individuals prefer cryptocurrency such as Monero, Zcash, and Dash, which has proven to be more effective in protecting user privacy.

dothebeats

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It can, but most probably the devs won't incorporate such thing knowing that bitcoin's ethos involves it being centered into transparency with pseudoanonymity involved. With this, the advent of privacy coins became a hit for those who want to keep their transactions a secret to move around the cryptospace. While these techniques privacy coins use cannot be integrated into bitcoin, mixers are still good thing, along some other scripts and whatnot to at least add another layer of security and privacy to some transactions.

CryptoBry

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Quote from: Romeoetin on April 29, 2019, 10:31:30 AM

I recently got to know about the existence of privacy coins and what they mean. I can imagine why anyone will be interested in its usage being that it's offer more anonymity that the bitcoin ledger. But can such implementation be incorporated into the bitcoin blockchain and make it as a choice for those that don't what input and output be publicly viewed on the blockchain?

There will always be market for privacy coins as there are people who prefer not to reveal their records of transactions in the world of cryptocurrency. Bitcoin can be anonymous but definitely not so private as transactions and even your own balance can be viewed by anyone. This is one reason why alternative to Bitcoin focused on privacy are now also doing good business in the market.

pooya87

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bitcoin has never meant to give full anonymity to the users, it is only meant for a good level of privacy. because of that if we wanted to change bitcoin to be a full anonymous coin then it would require such fundamental changes that are nearly impossible to implement without breaking everything apart. which is why it will probably never happen. but there are lots of ways to improve that privacy though which are being used like coinjoin.

minersday

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Quote from: Romeoetin on April 29, 2019, 10:31:30 AM

I recently got to know about the existence of privacy coins and what they mean. I can imagine why anyone will be interested in its usage being that it's offer more anonymity that the bitcoin ledger. But can such implementation be incorporated into the bitcoin blockchain and make it as a choice for those that don't what input and output be publicly viewed on the blockchain?

Majority of these privacy coins have their core blockchain protocol embedded with Bitcoin's blockchain protocol with additional protocols which improve the anonymity nature of their blockchain network. Looking at this additional protocols by these privacy coins, the bitcoin ledger can also be improved and become more private and anonymous if Satoshi decide to upgrade the entire bitcoin's blockchain network. Bitcoin is the definition of privacy and anonymity.

Bitcoin_Arena

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If you want to stay anonymous but still want to use Bitcoin, there so many good mixer services out there.
One of such services is the one I am wearing in my signature (Bitblender.io)

I think Satoshi's dream was to keep the Bitcoin Blockchain as transparent as possible such that scandalous things like money laundering, fraud and corruption and i believe it should remain that way.

jak3

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More Privacy!! Seriously bruh? do you know why I have started hating this term now because I do not care about privacy and I think I have taken enough precautions that no one can hack my private keys easily? Do you know why the banking system is still alive, its, because they provide privacy and security Grin

( hope u got the joke?). Common why will anyone gonna need any more privacy, do u care to provide some links to this new coin!

Yakamoto

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Quote from: Romeoetin on April 29, 2019, 10:31:30 AM

I recently got to know about the existence of privacy coins and what they mean. I can imagine why anyone will be interested in its usage being that it's offer more anonymity that the bitcoin ledger. But can such implementation be incorporated into the bitcoin blockchain and make it as a choice for those that don't what input and output be publicly viewed on the blockchain?

Bitcoin could technically become more anonymous like other altcoins, however, there would have to be a fork done so that the technology could be implemented. Not a lot of people have been happy with the previous forks that have been implemented, so it would likely split the community unnecessarily. Bitcoin "mixers" already exist, which primarily obfuscate the specifics of a Bitcoin transaction. This is more than enough for most people, as it makes it much more difficult to track the trail of Bitcoin from one address to another.

I would personally just use the various altcoins to move crypto in a "secret" manner. The implementation of a new privacy system likely wouldn't be completed for a long time. It's disappointing, but the community has to agree on it, and I don't think everyone would.

target

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Bitcoin weren't mean to be privacy coin, some people think using BTC is safer because we can be anonymous behind it but its actually not. Everything that a wallet does like the transactions can be traced back to its owner specially now that we are all requi9red to submit documents to exchanges. The blockchain of BTC puts everything there in, its different with anon coins like Monero and the rest because it hides under layers and privacy settings.

Genemind

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Privacy coins are those coins that hides data about their users. It hides identity even the traded amount of cryptocurrency being held in different wallets.
Bitcoin isn't a private coin because it doesn't hide identity and every data is visible. There are lots of privacy coins like Monero, Dashcoin, Zcash, Verge, Komodo and a lot more.

jvdp

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Quote from: Romeoetin on April 29, 2019, 10:31:30 AM

I recently got to know about the existence of privacy coins and what they mean. I can imagine why anyone will be interested in its usage being that it's offer more anonymity that the bitcoin ledger. But can such implementation be incorporated into the bitcoin blockchain and make it as a choice for those that don't what input and output be publicly viewed on the blockchain?

Seriously not sure about but I know the existence of privacy coins in that we can specifically say that monero, zcash and few others coins are great expo in privacy coins.
One more things bitcoin ledger will not be turn out as privacy coins in future too.

DooMAD

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Leave no FUD unchallenged

There are some ways to improve privacy in Bitcoin, but they're not quite as extensive as the privacy-oriented coins. Have a look at the Dandelion protocol for starters. Some of the other ideas like Bulletproofs, Taproot and Scriptless Scripts are still in the pipeline.

Romeoetin

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I recently got to know about the existence of privacy coins and what they mean. I can imagine why anyone will be interested in its usage being that it's offer more anonymity that the bitcoin ledger. But can such implementation be incorporated into the bitcoin blockchain and make it as a choice for those that don't want input and output to be publicly viewed on the blockchain?

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